Personal Loans Toronto | Get Easy Access to Cash You Need For Various Purposes

July 2, 2021 | Editorial Team

Toronto can be costly. If you live in Toronto, you could be thinking of applying for a personal loan. The choice of financial services can be overwhelming. The market for loans from Canada is vast, with many firms offering loans in Toronto.

Here, we look at two firms that can help find you a loan in Toronto, Canada and other provinces (see Alberta and Edmonton) Even if you have a bad credit rating or credit score. We investigate these firms with the following in mind:

  • application process
  • interest rates
  • the loan amount that can be extended, based on credit history.

Best Personal Loans Toronto

Loans Canada

This company is great for those looking for personal loans in Toronto. However, it is not a lending facility. It is an online platform that finds personal loans for customers. It was established to help Canadians access loans despite bad credit history or high debt on credit cards.

You can apply online and use the company’s software to find a suitable personal loan. The software can find the best rates for a personal loan based on your credit.

Here are the pros and cons of using this firm to find a personal loan.


  • Quick

The biggest advantage of this platform is how quickly it can find you a personal loan. It makes the whole process easy, by finding you a product with the best interest rate. You don’t even have to be from Toronto to use it. For anyone in Canada, loans are waiting for you to borrow.

  • Effective

Looking for personal loans, either in Toronto or beyond, can be difficult. Need a credit loan? This loan platform will match you with a firm happy to extend you a loan. You can get your money quickly too!

  • Comparison

You can easily compare the interest rates offered on personal loans. It means you can choose the loan that works best for you and your credit score, which may have taken a hit living in Toronto.

  • Education

This company is dedicated to improving its customers’ financial knowledge. It provides extensive guides explaining how to get out of bad credit situations and explain home equity ideas. This helps customers improve their ability to manage a loan and their money better.


  • Fees

Even though this loan platform manages to find your loans, you may have to pay a fee. These fees can make your loan even more expensive.

  • Higher Interest Rates

The platform will always find you a lending facility. However, if you have a bad credit history, those loans will likely have a high-interest rate.


LoanConnect is another personal loan platform that helps you find a personal loan in Toronto or elsewhere in Canada. If you are finding living in Toronto too expensive, loans may be a way you can help pay sky-high Toronto rents.

LoanConnect helps customers find loans up to $50,000. Interest rates on these loans start at 4.6%. Terms on the loans range from 6 to 60 months. Importantly, Toronto dwellers won’t find their credit score affected by searching for loans with this tool.

Other benefits as well as disadvantages to this loan search engine are listed below.


  • Easy

As with any effective search engine, using LoanConnect to look for suitable loans is easy. The technology available will find a loan that is available to you based on your circumstances.

  • Free

The loan search facility with LoanConnect is free. Being free makes the cost of financing your loan in future more affordable.

  • Wide range

The range of loans this search engine finds is wide. It means if you are looking for cash to help you live in your dream Toronto apartment or finance a car, you can find it here.

  • Suitable for all

LoanConnect can find loans for customers based in any part of Canada. LoanConnect has no geographical constraints. Additionally, for those with bad credit histories, LoanConnect can still find a suitable loan.


  • No student loans

Sadly, there are no student loans offered by LoanConnect. Given the number of students living in Toronto, this is a big drawback.

  • Small lender range

While there are several different types of loans available, the lenders who provide them are limited. Given the number of lending facilities in Canada, more loan providers should be searched for by LoanConnect.

The Bottom Line

Living in Toronto can be expensive. For many, your income is not enough. Loans can be a way of making ends meet. If you find Toronto too much for your income, a credit card can help initially, and a loan can help you.

Using a loan search engine can be a great way to access cash to make the most of your time in Toronto. Toronto is as expensive as New York, so don’t underestimate how big a loan you may need.

Loans and a credit card can help make up the shortfall between paycheques, but they need to be affordable. These search engines can help you find the most suitable loans available for you.