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Refresh Financial Credit Builder Loan

Apply for the Refresh Financial Credit Builder Loan and build your credit score – no credit check required.

The Refresh Financial Credit Builder Loan is helping Canadians improve their credit score through its unique program of affordable financing and automatic savings.

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Interest Rate


Max. Loan Amount


Min. Credit Score


Product NameRefresh Financial Credit Builder Loan
Interest Rate19.99%
Min. Loan Amount$1,250
Max. Loan Amount$10,000
Loan Term3-5 years
Turnaround TimeSame day
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How does borrowing from Refresh Financial work?

The Refresh Financial Credit Builder Loan isn’t your typical loan. You don’t actually get the loan funds upfront, instead the funds are placed into a secured loan account which can be accessed once you pay off the loan. The premise of this Refresh Financial loan is to help you build your credit score. The idea is that you pay off your loan through automatic payments before you receive access to it, and your loan repayments are reported to the two major credit bureaus: Equifax and TransUnion.

This kind of Refresh Financial secured loan gives you the opportunity to increase your credit score if you make timely repayments. On the other hand, if you fail to make on-time repayments, your credit score will be negatively impacted.

Loans can be borrowed in increments ranging from $1,250 to $10,000 (excluding Saskatchewan residents) with terms of 3 years or 5 years. Interest rates are as low as 19.99%.

Features of a personal loan from Refresh Financial

The Refresh Financial Credit Builder Loan includes the following features:

  • Low interest rate. Receive a low interest rate of 19.99%.
  • Flexible borrowing amount. Canadians (excluding Saskatchewan residents) can borrow amounts ranging from $1,250 to $10,000.
  • Flexible loan terms. Borrowing terms range from 3-5 years.
  • No credit check. Since these loans help Canadians build up their credit scores, no credit check is required. However, there is some basic eligibility criteria that must be met including meeting a minimum income requirement.
  • Access to an educational portal. Refresh f.i.t is an online educational tool that provides you with free access to money management tips and tricks, including information on finances and money, as well as ideas on how to increase your credit score.

How much will a Refresh Financial personal loan cost?

It’s free to apply for the Refresh Financial Credit Builder Loan. The overall cost of your loan will depend on the amount of your loan and the length of your loan term. Although interest rates are listed from 19.99% (excluding Saskatchewan), the APR of the loan ranges from 19.99% to 19.99% once you take both fees and the interest rate into account.

Ready to apply? Here’s how.

In order to be eligible for a Refresh Financial loan, you must at a minimum:

  • Be a resident of Canada
  • Be at least 18 years old, or the age of majority in your province or territory
  • Have a Canadian bank account
  • Minimum monthly income of $1,000/month

You’ll need the following details and documents to complete your application:

  • Personal details including name, email address, Social Insurance Number, phone number and current address
  • Employment information and proof of income
  • Banking details and bank statements

Bottom line

The Refresh Financial Credit Builder Loan is a secured loan designed to help you build your credit by reporting your payments to the major credit bureaus. No credit check is required. Learn more about building your credit with our guide to improving your credit score.

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