LoansLoans.ca review: Is it legit?

What is LoansLoans.ca?

LoansLoans.ca is a brokerage services company that connects borrowers with third-party lenders offering quick, short-term personal loans and payday loans. Fill out an online application, get a decision within an hour, and receive your money within 24 hours.

Is LoansLoans legit?

LoansLoans.ca is operated by NCR Financial Services, a company that’s registered in Quebec and has been in business for over 15 years. NCR is licensed as a payday lender in Ontario and BC at the time of writing (licence number 73237 in BC and licence number 4737270 in Ontario).

Features of loans from LoansLoans.ca

Feature	Short-term installment loan	Payday loan
Loan amount	$500 – $1,000	Up to $1,500
Loan term	3 - 12 months	By your next payday, up to 62 days
Interest rate	28.00% - 32.00%	$14 for every $100 borrowed in Ontario, $14 for every $100 borrowed in BC
Fees	Late payment fee, $45 NSF fee, broker fee	Late payment fee, NSF fee
Basic eligibility criteria	$1,200 min income paid by direct deposit, employed for at least 2 months	$1,200 min income paid by direct deposit, employed for at least 2 months

What are the benefits of a short-term loan from LoansLoans.ca?

• Online application. It’s easy to apply for a loan from the comfort of your own home in less than 15 minutes.
• Fast approval. Your application will typically be reviewed in a matter of minutes, and you’ll usually receive your money in less than 24 hours (when approved).
• Direct deposit. Once all of your documents go through, your money will be deposited directly into your bank account.
• No collateral required. You won’t have to secure your loan with an asset like your home or vehicle.
• Bad credit doesn’t matter. Most lenders that LoansLoans.ca works with won’t check your credit score before approving you for a loan.
• No fee for early pay-outs. You’ll be able to pay off your balance at any time without any extra fees or charges.

What should I watch out for?

• High rates and fees. You’ll pay a high interest rate between 28.00% - 32.00% + broker fee, plus a broker fee. LoansLoans isn’t clear about how much the broker fee is, but if we compare it to other short-term loan lenders in this space, the fee may be over $200.
• Small amounts. You’ll only be able to qualify for a loan of up to $1,000, which may not be enough to cover your expenses.
• No funding for the self-employed. If you’re self-employed, you typically won’t qualify unless you receive your income through direct deposit. Learn more about loans for the self-employed.
• Minimum income requirements. You need to be gainfully employed to qualify, with a minimum income of $1,200 per month.

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What are the rates and fees of LoansLoans.ca?

How much your loan will cost will depend on the type of loan you get from LoansLoans.ca. If you sign up for a payday loan, you’ll pay $14 for every $100 borrowed in Ontario and $14 for every $100 borrowed in BC. This usually works out to APRs over 300%.

If you choose a short-term installment loan, its cost will depend on the interest plus the broker fee, both of which will be included in your monthly payments

And, if you struggle to pay the loan back, here are some other fees you can expect to pay:

• Default interest: 32% APR
• NSF/returned payment fee: $45
• Payment delay fee: up to $35

Reviews for LoansLoans

LoansLoans.ca doesn’t have many reviews online, but the ones they do have are generally negative. Users on Trustpilot say the lender has high broker fees, delayed responses and poor customer service.

It’s also not accredited by the Better Business Bureau (BBB). While a lack of accreditation doesn’t necessarily reflect poorly on a company, it may be worth keeping in mind as you consider your options.

Trustpilot reviews	2.2/5 based on 14 reviews
BBB reviews	N/A
BBB rating	N/A
BBB accreditation	Not accredited

Reviews as of September 11, 2025

What can I use my funds from LoansLoans.ca for?

LoansLoans.ca doesn’t regulate how you can spend the money you borrow, so you can use it for any legitimate purpose. However, since short-term installment loans and payday loans are expensive financing options, it’s best to use them for financial emergencies only.

What are the requirements to get a loan?

Eligibility requirements

To apply for a loan from LoansLoans.ca, you need to meet the following criteria:

• Be at least 18 years old (and 19 in some provinces).
• Be a citizen or resident of Canada.
• Have a net salary of $1,200 per month.
• Have at least 2 months of consistent employment with the same employer.
• Have a Canadian bank account and be paid by direct deposit.
• Be free from bankruptcy or other forms of unmanageable debt.

Required documents and information

• Government-issued ID. You’ll have to show proof of ID, like your driver’s licence or passport.
• Proof of address. You’ll need to supply proof of residence using your ID and some form of utility or cell phone bill listing your current address.
• Pre-authorized debit. You can supply a void cheque or a pre-authorized debit form to authorize deposits and withdrawals from your account.
• Bank statements. You’ll have to supply a detailed bank statement listing your last 60 days of activity.
• Proof of income. You’ll be required to submit your most recent pay stub.
• Liberation letter. You may also need to supply a liberation letter if you’ve recently come out of a bankruptcy or consumer proposal.

How to apply with LoansLoans.ca

If you think you meet all the eligibility criteria and you’re ready to get started with your loan application, just follow the steps below:

1. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
2. Review and submit your application.
3. Get a decision.
4. Provide documents to verify your income and identity, such as a copy of your driver’s licence and bank statements.
5. Get approved and sign your contract when ready.
6. Get funded via direct deposit.

What to expect once you have your loan

Once your loan application is approved, your funds will be deposited directly into your account within 24 hours. If you choose a short-term installment loan, you have three repayment schedules to choose from: 12 weekly payments, 6 bi-weekly payments or 6 semi-monthly payments.

Payments will be automatically withdrawn from your account, so ensure you keep enough in your account to avoid a $45 NSF fee.

If you take out a payday loan, repayment works differently. The full amount, plus fees and interest, is due on your next payday. This means you’ll need to repay the loan in one lump sum rather than in installments.

In either case, you can pay off your loan early without any penalties.

Bottom line

LoansLoans.ca is a brokerage that works with lenders offering short-term loans and payday loans with fast approval times. Just be aware that the company has received some negative reviews about high fees and slow or unprofessional service.