Green Loans review: Is it legit?

Is Green Loans legit?

Green Loans seems legit. The company has a physical address in Montreal, a phone number and an email address. It also has a privacy policy and terms that state it complies with Canadian privacy laws.

GreenLoans.ca is registered with the Registraire des entreprises (REQ) in Quebec as well. However, the platform has no external reviews.

What we like about Green Loans

• Quick, convenient application process. The online application is straightforward, allowing borrowers to apply for loans from the comfort of their homes. Apply via instant bank verification, which involves connecting your bank account to an encrypted portal and giving the lender view-only access. You won’t have to submit documents.
• Instant approvals. Get approval within minutes thanks to instant bank verification.
• Fast funding. Get your money on the same day or within 24 hours.
• Low starting amounts. You can borrow as little as $100, which is low for an installment loan.
• Flexible loan terms. Repay in as little as 3 months, or take up to 12 months.
• Easy payouts. Get your money via direct deposit or e-Transfer.
• Customer support: Green Loans offers customer support Monday to Friday, 8am to 6pm ET, via email and phone.
• Bad credit accepted. You can apply even if your credit isn’t the best. Green Loans doesn’t require credit checks.
• Non-employment income accepted. Green Loans accepts a wide variety of incomes, such as government disability, private disability, private pension, CPP, OAS, welfare, CCB and workers' compensation.
• No collateral required. This loan is unsecured, so you don’t need to provide an asset to get approved.
• No prepayment penalties. You can save money by paying off your loan early, and there are no penalties. However, this is a standard feature for unsecured loans in Canada from any lender.
• Available in most provinces. Green Loans is available in all provinces except Manitoba.

What to watch out for

• Not a lender. Green Loans isn’t a lender but a broker. You’ll be matched with a lender within their network, so you could miss out on offers from other lenders they’re not partnered with.
• Small loan amounts: Loan amounts max out at $1,000, so if you need more than that, you’ll have to go elsewhere.
• Unclear fees. Green Loans is vague about its broker fees and doesn’t disclose how much it charges. Broker fees can significantly drive up the cost of your loan.
• High interest rates. Green Loans offers higher rates than traditional loans, from 22% to 35%.

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What are Green Loans’ interest rates?

Green Loans offers fixed interest rates ranging from 22% to 35%. The exact rate you’ll receive depends on the lender you’re matched with, as well as personal factors like your salary, debt-to-income ratio and spending activity.

Green Loans also charges a broker fee that may be in the hundreds. Be sure to review your loan contract so you’re aware of all the charges.

Summary of reviews for Green Loans

Trustpilot reviews	N/A
BBB reviews	N/A
BBB rating	N/A
BBB accreditation	Not accredited

As of September 19, 2025

What do Green Loans reviews say?

Green Loans doesn’t have any reviews on platforms like Google or Trustpilot, but it does have a trust score of 100/100 on ScamAdviser. A score between 81 and 100 means a website is very likely safe.

Do you qualify?

You may qualify for financing from Green Loans if you meet the following requirements:

• Earn at least $1,200 net income per month
• Share banking access via Green Loans’ secure instant banking verification system
• Have a Canadian bank account open for 90+ days with online access
• Be a Canadian citizen or permanent resident with a job
• Be 18 or 19, depending on the age of majority in your province
• Provide a valid phone number, email, and home address
• You must not be in a bankruptcy or a consumer proposal
• You must not be planning to declare bankruptcy or a consumer proposal

How do you apply?

Here are the steps you can follow to apply for a personal loan through Green Loans:

1. Head to greenloans.ca and click Get Started.
2. Select the loan amount you want and enter personal details like your name, phone number and birthday.
3. Enter your address and whether you rent or own.
4. Choose whether to confirm your identity now with your SIN and driver’s license number or skip this step until later.
5. Input financial information such as your income source and total monthly income.
6. Enter your employment information, like company name and job title.
7. Provide the account information for the deposit.
8. Submit your application and wait for an email or text with the next steps.

What to expect once you’ve received your loan funds

If you’re approved for a loan, you’ll typically receive your funds within 24 hours via Interac e-Transfer or an electronic funds transfer (EFT).

Payments will be automatically withdrawn from your bank account on the scheduled date, which you can find by logging in to your customer portal.

You can also use the customer portal to make early payments or pay off your loan completely with a debit card or e-Transfer. If you miss payments, you’ll be charged a 2.66% late fee and a $40 NSF fee. The NSF fee is in addition to the NSF fee your bank charges.