A personal loan is a situation where a person borrows money for personal needs. Multiple companies offer this kind of service with varying policies. 

To help you choose a personal loan company that fits your needs, we take a look at some of the best companies to get a personal loan in Vancouver today.

How Much Do Personal Loan Companies Charge in Vancouver

When you’re looking for a personal loan, you’ll probably consider the amount of money you can borrow and the interest rate.

With personal loans, you’re looking at up to 20% interest rates. However, if you plan to avail yourself of home equity loans, interest rates will not exceed CAD 7.29%.

The table below lists the most common types of services and their average interest rates. 

TYPE OF SERVICE	AVERAGE INTEREST RATES
Personal Loans	5% - 20%
Home Equity Loans	6% - 7.29%
Mortgage	2.66% - 3.50%
Deposit Loans	2.25% - 5.20%

Best Personal Loan Companies in Vancouver

Finding the best personal loan companies in Vancouver can be difficult. There are many factors to think about. Personal loans are a way to get cash when needed, but you must consider some important things before deciding.

We’ve assessed the following companies based on the criteria below:

Variety of Loans – We look at the variety of loans they offer in this criterion so that clients who require different loans can also rely on them.

Flexibility

• Payment Options – We assess the payment methods these companies provide.

• Operating Hours  – We evaluate their business hours, so customers know if they’re available during weekends and holidays.

Rates –  We included establishments that offer fair prices and numerous payment methods.

Customer Service

• Customer Feedback – We’ve spoken with previous customers to gain insight into how satisfied they were with their services.

• After-sales Service – In this criterion, we interviewed previous customers to determine their customer service level after doing business with them.

1. easyfinancial Services

CRITERIA	RATING
Variety of Loans	★★★★☆ 4/5
Flexibility	★★★★★ 5/5
• Payment Options	★★★★★ 5/5
• Operating Hours	★★★★★ 5/5
Rates	★★★★☆ 4/5
Customer Service	★★★★★ 5/5
• Customer Feedback	★★★★★ 5/5
• After-sales Service	★★★★★ 5/5

Established in 2006, easyfinancial Services has provided both unsecured and secured personal loans for customers in Vancouver.

We were impressed that they have a 10-minute approval process that’s convenient for clients for emergency purposes. Another advantage is that customers can apply over the phone, online, or in person at one of their 400 locations across Canada.

We also liked that they don’t charge any upfront fees when you apply for a personal loan, as we value transparency.

In terms of interest rates, easyfinancial Services’ rates range from 9.99% to 46.96%, depending on your loan type, size, term length, and credit profile.

While we recognize that their interest rates are relatively high, we believe this is reasonable given that they offer personal loans with a maximum payment term of 20 years.

Another thing we liked about their website is that they have useful financial tips and a loan calculator, which we believe is beneficial for first-time borrowers.

We also liked that they have small business financing services where you can conveniently file an application and receive your funds within 24 hours.

All in all, we believe easyfinancial Services is one of the best personal loan companies in Vancouver because they offer customers a quick and easy way to borrow money.

Customer Reviews

Helpful and approachable

“Christopher was very nice, helpful and approachable! He explained everything well and also gave great advice! He responded so quickly and answered all my questions. I would definitely recommend going to him!.” -Marianne R. 

Clearly explains everything in good detail

“Really great service. Everything was explained clear and in good detail. I felt comfortable knowing I was working with someone who was confident and very knowledgeable. There wasn’t a question I had that wasn’t answered 🙂 Excellent staff!.”-Smurf H.

2. Spring Financial

CRITERIA	RATING
Variety of Loans	★★★★☆ 4/5
Flexibility	★★★★☆ 4/5
• Payment Options	★★★★★ 5/5
• Operating Hours	★★★★☆ 4/5
Rates	★★★★★ 5/5
Customer Service	★★★★★ 5/5
• Customer Feedback	★★★★★ 5/5
• After-sales Service	★★★★★ 5/5

Spring Financial is a fintech company that has become one of the largest financial lending institutions in Canada. 

Some of the services this company provides include personal loans, mortgage refinancing, and home equity loans. We immediately found it convenient that clients could apply for a loan from anywhere and get the financing they needed right away.

Perhaps what impressed us the most is that this company offers same-day personal loans for up to CAD 15,000. This service can be claimed through their convenient online application platform with no face-to-face meetings.

This, in our opinion, is their greatest strength because it’s a quick and convenient way for borrowers to get approved and receive their loans immediately.

It’s also worth noting that they provide flexible loan repayment options, such as bi-weekly, monthly, or bi-monthly payments, as different customers have different preferences.

Now, we’d like to point out that they only offer a limited number of loans. However, we liked how all of your payments are reported to credit bureaus, which helps you build your credit score.

If you’re looking to get a personal loan in Vancouver, we recommend Spring Financial.

Customer Reviews

Wide range of loan options

“Spring financial has been great with catering to my specific needs. The wide range of the products offered made me feel comfortable with communicating what I was looking for. The customer service was excellent and they took the time to thoroughly explain the savings plans that are offered.” -Alexandria J.

Friendly staff

“The process did take some time because of my weird work hours, however spring financial was amazing and made it work for us to complete the process. Staff was friendly even with speaking to different team members about my situation everyone was up to speed and no time was wasted.” -Jordyn D.

3. Accord Financial

CRITERIA	RATING
Variety of Loans	★★★★☆ 4/5
Flexibility	★★★★☆ 4/5
• Payment Options	★★★★★ 5/5
• Operating Hours	★★★★☆ 4/5
Rates	★★★★★ 5/5
Customer Service	★★★★★ 5/5
• Customer Feedback	★★★★★ 5/5
• After-sales Service	★★★★★ 5/5

Accord Financial has been financing businesses for over 40 years. This company provides flexible loan solutions that benefit customers by not limiting their repayment options.

This company offers financing solutions to small and medium-sized businesses in Canada and the United States. We found it impressive that they provide diverse financing options, with a maximum loan plan of CAD 30,000,000.

Another thing we found impressive was their breadth of experience, which includes manufacturing, retail, construction, and many other industries. We believe this makes them more dependable because they can serve a large customer base.

In our opinion, this establishment is ideal for those planning to start their own business, as aside from personal loans, they also offer small business loans. 

This service provides a loan of up to CAD 75,000 that’s repayable in 18 months. It’s important to note that this service requires fixed weekly payments.

Moreover, many of the customers we’ve spoken with have mentioned how their employees go above and beyond to meet business needs. Most clients also praised them for their professionalism and responsiveness.

On a whole, we thought Accord Financial deserved a spot on our list because they can accommodate loans of any size, making them one of the best personal loan companies in Vancouver.

Customer Reviews

Goes above and beyond

“Dealing with Accord Small Business Finance is always amazing! The staff go above and beyond to meet your business needs. I have been working with Accord for approximately a year and half, my business longer than that, and the staff have shown me over and over again that they truly care about our business.” -Savannah N.

Professional and responsive

“I have worked with Accord Small Business Finance for years and am always blown away by the level of professionalism and responsiveness I receive. As a professional who works in the industry I appreciate how much of a challenge this can be.” -Andrew P.

4. National Equity Lending Corp.

CRITERIA	RATING
Variety of Loans	★★★★★ 5/5
Flexibility	★★★★☆ 4/5
• Payment Options	★★★★★ 5/5
• Operating Hours	★★★★☆ 4/5
Rates	★★★★☆ 4/5
Customer Service	★★★★★ 5/5
• Customer Feedback	★★★★★ 5/5
• After-sales Service	★★★★★ 5/5

National Equity Lending Corp. is a Canadian alternative lender that offers home equity loans and private mortgages. This company has been in operation for over 20 years.

While they specialize in home equity loans, National Equity Lending Corp. also offers numerous loans for different customer needs. 

This includes personal and commercial loans, debt consolidation, refinancing, and many more. What distinguishes them is that they have dedicated services for clients who have had bank loans denied.

We believe that this service is ideal for customers who have poor credit, have difficulty proving their income, or simply do not fit within bank guidelines.

We also wanted to point out that they provide mortgages to self-employed individuals. We regret to inform you that they require a 25% downpayment, but they do not require income verification, so there is a benefit there.

Now, the majority of consumers we’ve spoken to praise their services as they’re professional and make the whole process stress-free. 

Some customers also noted how experienced they are as they can provide helpful suggestions regarding the ideal loan service for them.

Overall, we recommend National Equity Lending Corp. to those seeking a personal loan with minimal hassle.

Customer Reviews

Top-notch expertise

“I am so thankful that I have decided to work with Igor and Ivan when I was searching for the best mortgage. They are not only experts in their field but thanks to them I have felt prepared, knowledgeable and mostly stress-free.” -Amalia D. 

Experienced professionals

“My experience with Ivan was exceptional. Ivan is not only a true and experienced professional, but also a very trustworthy one. He was very diligent and industrious in getting me the best mortgage in the market.” -George O.

5. PAY2DAY

CRITERIA	RATING
Variety of Loans	★★★★☆ 4/5
Flexibility	★★★★★ 5/5
• Payment Options	★★★★★ 5/5
• Operating Hours	★★★★★ 5/5
Rates	★★★★★ 5/5
Customer Service	★★★★☆ 4/5
• Customer Feedback	★★★★☆ 4/5
• After-sales Service	★★★★★ 5/5

PAY2DAY is a loan company in Vancouver that provides payday loans, cheque cashing, and other financial services. They have over 32 locations in Canada and are open six days a week.

We immediately found it impressive that they have a 24/7 approval and funding timeframe. 

We believe that this establishment is ideal for those looking for a quick and convenient loan service, as PAY2DAY offers instant online loans. 

Another appealing business trait is that they have a 24/7 customer support team, which we believe gives clients peace of mind knowing that help is available anytime.

Now, we found it very straightforward that they only require you to have a bank account and proof of income to get approved. We think this makes their services more accessible.

We were, however, disappointed by their limited loan options. We only wish they offered business loans, which we believe would have been a great addition.

Nonetheless, the majority of customers we spoke with praised how quick their application to the approval process is. They also mentioned how helpful they are because navigating their online application process only took a few minutes.

If you’re looking for an accessible loan company, we think you should consider PAY2DAY.

Customer Reviews

Fast process from application to approval

“One of the most easiest and fastest process from application to approval. Ms. Shikha was the most helpful and polite and made the entire process very easy for me. Would definitely recommend!.” -Prerna P. 

Super helpful

“Maria was super helpful! I applied online, and when they called it only took a few short minutes to be approved. I’m very thankful, and the service was excellent!.” -King K.

6. Comparewise

CRITERIA	RATING
Variety of Loans	★★★★★ 5/5
Flexibility	★★★★★ 5/5
• Payment Options	★★★★★ 5/5
• Operating Hours	★★★★★ 5/5
Rates	★★★★☆ 4/5
Customer Service	★★★★★ 5/5
• Customer Feedback	★★★★★ 5/5
• After-sales Service	★★★★★ 5/5

Comparewise is a comparison platform that provides its clients with a diverse range of services and technologies that help them match their loan and insurance needs with that of the lender that can best accommodate their needs, preferences, and situation.

We like that there is absolutely no fee charged when clients use the platform itself and that all rates displayed on their website with regards to other companies are real-time and updated with the current trends as well.

Furthermore, they make it a point to ensure that all user information is highly safeguarded in all aspects that may be used on their website since they prioritize making use of this information to find the best solution for the particular needs of the client.

Note though that Comparewise is not a broker itself but a platform wherein clients can get relevant information when it comes to determining the best company that clients should loan or make their insurance with.

Overall, with their diverse network of brands and dealers in the field, convenient and innovative technologies used, and user-friendly website interface, we highly recommend them to clients in the area looking for such services.

Customer Reviews

Here are some reviews from their clients:

“Took just a few minutes to apply and got a call shortly afterward from a Comparewise partner. Good and fast service.”

“So thankful for the mortgage deal Comparewise hooked me up with, it’s affordable and I was able to buy my first home”

FAQs about Personal Loan Companies in Vancouver

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Personal loans are designed to help people who are in dire need of funds to solve financial issues. We hope our list helped you with where you can get a personal loan in Vancouver. 

Here are a few articles that you may want to check out:

• Best Payday Loan Services in Vancouver
• Best Debt Consolidation Companies in Vancouver
• Best Mortgage Agencies in Vancouver

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