Fairstone is the modern name for what started as Household Finance Canada in 1923. Through three rebrands and now under Centerbridge Partners, it's Canada's largest non-bank consumer lender. The branch network is unique — useful if your bank turned you down and you want a human conversation.
★ 100+ YEAR HERITAGE ★
The corporate timeline
1923
Founded as Household Finance Canada · subsidiary of US parent
1991
Sale to HSBC · rebrands as HSBC Finance Canada
2014
HSBC sells to Brysam · operates as CitiFinancial Canada
2017
Rebranded as Fairstone Financial under new ownership
2023
Acquired by Centerbridge Partners · expansion into mortgages
2026
Today: 240+ branches · largest Canadian non-bank consumer lender
You own a home + need secured loan rates (much lower APR)
You're refinancing high-interest debt
You're an older borrower less comfortable with apps
✗ POOR FIT
You have prime credit · banks offer better rates
You're comfortable with online-only lenders (cheaper)
You only need $500-$2,000 (use a credit card)
You don't qualify for secured loans · personal APRs are high
You're considering a payday loan (always cheaper than Fairstone personal)
FINAL VERDICT
Best for: bad credit + homeowner. Skip if: prime credit + need under $5k.
Fairstone's secured loans (against home equity) are competitive vs HELOCs for borrowers who can't qualify with banks. Their unsecured loans are expensive (24%+ APR typical) but reasonable for the bad-credit segment they serve. Always shop banks + brokers FIRST.