How to apply for MOGO Personal Loan
Discover the effective way to apply for this C$35,000 loan, accessible across Canada!
MOGO: Your User-friendly Platform for Personal Loans
Looking for a user-friendly online platform that can provide you with unsecured personal loans? Look no further than MOGO. With competitive interest rates and quick funding, MOGO aims to help individuals achieve their financial goals efficiently. In this guide, we will walk you through the requirements for application and provide a step-by-step overview of the application process.
Requirements for Applying
Before applying for a MOGO Personal Loan, there are certain requirements you need to fulfill. Firstly, applicants must be 18 years of age or older and reside in Canada. Additionally, a minimum credit score of 540 is required, ensuring a basic level of creditworthiness. Applicants should also have a minimum annual income of $13,000 and must have been steadily employed for the last 30 days, whether on a full-time, part-time, or self-employed basis. To support your application, you will need to provide proof of employment, such as a letter from your employer.
Step-by-Step Application Process
The application process for a MOGO Personal Loan is quick and straightforward. Here’s a step-by-step guide:
- Visit the MOGO website
- Navigate to the Menu in the upper-right corner
- Select “MogoMoney”
- Fill in your information
- Click on “Get-approved”
If you get pre-approved by MOGO’s system, you can create an account on the MogoMoney app and receive your pre-approved funds on the same day. If you don’t get pre-approved, you can still get in touch with a MOGO Product Specialist to apply for a personal loan.
Looking for Other Options? Check out Spring Finance Personal Loan
If you’re looking for other options, consider Spring Financial’s personal loans. They offer two different unsecured loans designed for customers with not-so-great credit scores. Let’s take a closer look:
The Foundation
Spring Financial’s innovative solution, The Foundation, is designed to help underbanked Canadians establish credit and save money from the start. Instead of offering an upfront cash loan, The Foundation functions as a subscription service. Each payment made by the subscriber is reported to credit bureaus, helping them build a credit history. As an added benefit, all subscribers of The Foundation are automatically eligible for the Evergreen Loan, which provides a guaranteed $1,500 cash loan.
Evergreen Loan
The Evergreen Loan is an excellent choice for individuals with poor credit who are looking to improve their credit rating. Borrowers who have successfully completed The Foundation program with Spring Financial are automatically approved for the Evergreen Loan. This loan offers an upfront cash amount of up to $1,500 with an interest rate of 18.99%. Even after repaying the loan, individuals can access it again whenever needed, all at the same fixed interest rate.
Unsecured Loans
Ranging from C$500 to C$35,000, Spring Financial offers unsecured loans with competitive interest rates starting as low as 9.99% APR. The loan terms can range from 6 to 60 months. Key advantages of these loans include no prepayment penalties, no minimum credit score requirement, a credit score builder loan, and a streamlined application process.
How to Apply?
If you’re interested in exploring Spring Financial’s personal loans further and wish to embark on your journey towards financial stability, click the green button below.
