Lending

Loanz.com expands in the United States and increases Credit Box in Canada

Loanz.com, a FinTech platform established in 2013 and offering individual loans in Canada, announced on March 7, 2022 that it plans to launch in the United States in the second quarter of 2022. The company also announced the expansion of its credit box, allowing Canadians with low credit ratings a rate of only 9.9%.

Paul Hadzoglou, president of Loanz.com, said the company treats its customers like family and wants to ensure the widest reach so that rates can be affordable for everyone based on their financial and credit status.

The growth of the credit box for Canadian customers means they will be able to get reasonable rates once they apply through Loanz.com. They will also get these rates in a short time, within hours. Loan seekers also don’t have to leave their homes, as the entire application process is done online and digitally.

At present, Loanz.com receives over 40,000 personal loan applications per month from Canadian residents. Customers can borrow funds for emergency expenses, home renovations, debt repayment, or any other reason. Once they apply through Loanz.com, they will receive the funds within 24 hours. The company offers personal term loans from one to five years.

The company’s platform is free for users across the country, with a loan application without personal costs. Loans.com’s parent company, Consumer Genius Inc, recently launched in Australia and the United States with similar services. Loanz.com is also affiliated with the leader in auto finance lending, LendingArch, in Canada.

The company aims to become a fintech leader in North America, and its expansion into the United States will undoubtedly significantly expand its user base. It remains to be seen how far they can do next to the already established industry leaders.