easyfinancial is Canada's largest B-lender by branch count (1,000+). They'll approve almost anyone with a job — at 29-47% APR. The price of "Yes."
★ A $5,000 loan over 36 months costs $5,500-$8,928 total. Compare: bank LOC at 8% = $5,627 total. CC at 20% = $7,128. easyfinancial sits between credit card and payday loan rates.
Optional insurance (life, disability, job loss) frequently pushed at signing. Adds 10-15% to monthly payment. Often unnecessary if you already have coverage.
After 12 on-time payments, you may qualify for lower APR. In practice, most customers refinance into NEW high-rate loan instead.
Active collections team. Calls + letters can be aggressive. Better to skip a payment via a hardship arrangement than miss outright.
Stock has 5×'d in a decade. Quarterly earnings come from charging 35%+ APR to financially desperate borrowers. Caveat emptor.
Their approval rate is high; their rates are high too. Always exhaust: bank, credit union, CSBFL, family/friends BEFORE easyfinancial. If you must use them, decline the "default insurance" add-on (save $20-50/mo). Set up auto-pay. Refinance to a cheaper option as soon as your credit recovers.