Who is Fairstone Financial?

Fairstone stands as Canada's foremost non-bank personal loan lender, committed to assisting customers in securing the funds they require while ensuring payments align with their individual needs and financial plans. At Fairstone, borrowers can access loans of up to $35,000, whether to consolidate debts into a single manageable monthly payment, address unforeseen expenses, or pursue other financial goals. With a widespread presence boasting over 235 locations nationwide and a team of over 1,000 knowledgeable Lending Specialists at the ready, Fairstone is a trusted ally for your borrowing needs. In addition to serving individual customers, Fairstone collaborates with Canadian businesses and automobile dealerships, extending quality consumer financing options.

Why Opt for Fairstone?

Selecting Fairstone offers a range of advantages:

• Personalized Repayment Plans: Fairstone's dedicated Lending Specialists work alongside you to design a repayment plan tailored to your financial capabilities.
• Swift Access to Funds: Funding can be received as promptly as today.
• Secured Loan Option: Homeowners have the opportunity to choose a secured loan, leveraging their property's value to secure higher amounts and lower payments compared to unsecured loans.
• Unsecured Flexibility: Even without homeownership, unsecured loans remain a practical option, accompanied by affordable payments that match your budget.
• Prepayment Flexibility: Unsecured loans from Fairstone carry no pre-payment penalties, allowing you to settle your debt ahead of schedule.
• Fixed Interest Rate: Benefit from a stable interest rate throughout the loan term.
• Online Convenience: In select locations, you can secure your loan from the comfort of your home via the online platform.
• Risk-Free Loan Quote: Obtain a free online loan quote without affecting your credit score.
• Quick Loan Quote Process: Visit Fairstone.ca to receive a personalized loan quote swiftly, without any obligation or impact on your credit score.

Frequently Asked Questions about Fairstone

What Sets Fairstone Apart from Other Lenders?

Fairstone specializes in personal loans for Canadians possessing fair to good credit. They prioritize both quick loan solutions and personalized service, offering a distinctive blend of accessibility and customer attention.

How Can I Apply for a Fairstone Loan?

Securing a Fairstone loan is a straightforward three-step process:

1. Visit Fairstone.ca and provide basic information to obtain a personalized loan quote in minutes.
2. A Fairstone Lending Specialist will reach out via phone to discuss your loan offer.
3. Complete the application process at your local Fairstone branch, potentially accessing your funds on the same day.

What Differentiates a Secured and Unsecured Loan?

Fairstone offers two loan types with distinct characteristics:

Unsecured Loan: Backed by a contract, this option suits a wide range of customers and doesn't require homeownership. Interest rates range from 26.99% to 39.99%, and the loan term spans from 6 to 60 months, all with no prepayment penalties.

Secured Loan: Supported by the value of a house, a secured loan carries lower interest rates (19.99% to 24.49%) and extended terms (60 to 120 months), making it suitable for homeowners. Prepayment penalties apply.

What Documentation Is Required for a Personal Loan?

When applying for a personal loan, you'll need to provide documentation for identity verification and income assessment. Necessary documents include a government-issued ID (e.g., driver's license or Canadian passport), proof of income (e.g., recent pay stubs, T4, CPP statement), and rent verification (e.g., lease agreement).

How Much Can I Borrow from Fairstone?

Fairstone extends unsecured loans up to $25,000 and secured loans up to $35,000. The specific amount you qualify for depends on factors such as income, credit history, and homeownership status. You can determine your eligibility by requesting a loan quote.