Sign up & start saving!
Our monthly newsletter is launching soon with the latest in money news, credit card offers + more ways to save
People who have filed for bankruptcy, have poor credit, have gone through collections or are going through divorce can apply for a Fresh Start Finance loan.
Max. Loan Amount
Min. Credit Score
Fresh Start Finance has merged with Spring Financial. However, we’ve kept the information online for those who are interested.
If you’re curious about the Spring Financial personal loan, head over to our review.
If you’re having trouble securing a personal loan through traditional financial institutions like banks, Fresh Start Finance is a great option as an online lender, providing you with a quick approval process and up to $15,000 in financing to use at your discretion.
Fresh Start Finance calls the current process of qualifying for a loan “archaic” and “stressful”. It says it simplifies the process, providing funding to people in a straightforward, easy to follow online application that can be filled out in less than five minutes from the comfort of your home. Fresh Start Finance says this ensures you avoid the grumpy bank teller in applying for your loan. Once you hit submit, you’ll hear from a Fresh Loans representative within a business day who will walk you through your potential loan options.
Fresh Start Finance clearly articulates that it’s willing to approve loans for people with bad credit, no credit, or a history of bankruptcies or collections. It may be a viable option for anyone struggling to get approved for a loan. It also notes its distinction from payday loans – Fresh Start Finance offers higher loan amounts and more flexible, longer repayment terms. It emphasizes that its loans don’t come with hidden costs or maintenance fees.
Finally, it has the home court advantage. Despite being an online lender, Fresh Start Finance has its headquarters in the heart of Vancouver’s financial district.
Are you in need of a lump sum of cash to help you with covering bills, debt repayments, student loans, or home renovations or car repairs? Whatever your financial need may be, Fresh Start Finance provides personal loans of up to $15,000 to use at your discretion. Its entire application process is done online, so you never have to walk into a bank.
You may receive loan quotes from Fresh Start Finance within a business day, and if your identification and credit history checks out, you could receive funding within the same day.
Your interest rate may range from 29.99% and 46.96%, depending on factors like your credit score, loan amount and repayment time, along with the stability of your income.
While there are many online lenders providing flexible loans, here are a few advantages of going with Fresh Start Finance for your personal loan:
While Fresh Start Finance may seem like the silver bullet solution to your financial problems, there are some drawbacks you should consider too:
To be eligible for a Fresh Start Finance personal loan, you’ll need:
Keep in mind, getting your financial health in good shape is a great way to secure a lower interest rate and overall better loan conditions. While Fresh Start Finance says it will approve loan applications from people who have bad credit, no credit or a history of bankruptcy, improving on your credit score as much as possible before applying can make a big difference. You could end up securing more funds, at a lower rate and on more flexible terms, saving you money in the long run.
You can apply for a Fresh Start Finance loan on your desktop or mobile phone. Simply click on the “Apply Now” button on its homepage to start the process. The whole application process shouldn’t take more than five minutes to complete:
It is. Fresh Start Finance has its headquarters in the heart of the financial district in Vancouver on Burrard Street. It also provides live customer support seven days a week to its customers or anyone curious about taking out a personal finance loan.
It’s worth noting that Fresh Start Finance is a member of Canada Drives Group, which provides auto loans across Canada. The wider company was established in 2010 and has since received more than one million completed applications and has partnered with over 350 car dealers. Canada Drives placed 188th on the Globe and Mail’s 2020 Report on Business ranking of Canada’s Top Growing Companies, which is based on three-year revenue growth. Canada Drives earned its spot with a three-year growth of 228%. It shares the same office space as Fresh Start Finance.
Depending on how much you want to borrow and the length of time you wish to pay back the loan, Fresh Start Finance offers loans of up to $15,000, which can be repaid in terms of 9 months–60 months. The APR, which is the cost to borrow the money expressed as a rate, ranges between 29.99% and 46.96%.
On its website, Fresh Start Finance uses this example: If you borrowed $1,000 over 12 months at a 46.96% APR, your bi-weekly payments would be $48.51 with a total repayment of $1,261.17. You would have paid $261.17 in interest.
Use your loan wisely. Ideally, you applied for this loan for a specific reason, whether it was to consolidate your debts, pay for a home renovation or cover other important expenses you didn’t have the upfront cash for.
Your repayment options will be outlined in your contract with Fresh Start Finance. You’ll pay your loan back traditionally in bi-monthly or monthly instalments. Make sure you fit this loan repayment into your budget. This is a plum opportunity to show lenders that you are a trustworthy client and rebuild your credit if it’s in less-than-perfect condition.
You may be eligible to pay off your loan early without any penalties if you’re interested in getting out of debt faster. Check with Fresh Start Finance before you agree to your loan’s terms in case this is an important option for you.
If banks are turning down your personal loan application, an online lender such as Fresh Start Finance may be the best option to help you secure your loan. Fresh Start Finance aims to make the personal loans process straightforward, through a quick and easy to use online application. It emphasizes that it will work with people who have bad credit, no credit at all or who have had to file for bankruptcy so don’t be dissuaded by your past financial history.
As always, compare your loan options before choosing Fresh Start Finance. While conventional lenders like banks may not offer you funding, shop around with online lenders to make sure you’re getting the lowest interest rates and best terms that fit your needs. Fresh Start Finance doesn’t charge application fees, administrative fees or any other hidden fees with its loans.
You can also consider the wider range of personal loan options available to you.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.