How it works
From application to deposit, no detours.
Fill in your loan application online, authorize IBV, and sign your contract. We reply in 60 minutes during business hours.
Prêt Formula
now
Your application is approved.
The path
One path.
01
You fill in the application online
A few minutes, electronic signature included.
A few minutes is enough, whether you are a new client or renewing. Everything is online, including the signature.
New application
Requested amount
$500
Email
Your email
Frequency
Every 2 weeks
Electronic signature
Included at this step
ID document
A single document
02
IBV verification, a single piece of ID
No bank statements to upload by hand.
IBV (instant bank verification) is a platform designed by banks: it gives us a summary of your last 90 days of transactions. We confirm your income and ability to repay, without touching your credit score.
90 days · read only
IBV verification
Bank connection
A picture of the last 90 days. Read-only access.
1Choose your bank2Authorize read-only access3Confirm your incomeBank-grade security (read-only access)03
We reply within 60 minutes
During business hours.
IBV bank verification lets us review your application during business hours, without asking you for anything more.
Sample path01Application received
Sent online, signature included
02Analysis
Read only, last 90 days
03Answer in 60 min
During business hours.
04
You receive your Interac deposit
By Interac e-Transfer, within 24 business hours.
In your account within 24 business hours, or the same day if your application is completed, signed and approved before 1 p.m.
Bank account
Recent activity
Interac e-Transfer
$500.00
Deposit received · Prêt Formula
StatusAvailableTiming24 business hoursOr the same day if the application is completed, signed and approved before 13:00.
05
Fixed repayments, renewal at 75%
Fixed installments, published in advance.
Reduce your balance or pay it off in full by Interac e-transfer at any time, with no penalty: you save the remaining fees. Available once 75 percent of the original amount and related fees are repaid. Contact an agent to confirm eligibility.
Schedule
Fixed installments
Next installment
$64.43
Biweekly example
Number of installments6Early repaymentNo penaltyRenewalFrom 75%Available once 75 percent of the original amount and related fees are repaid. Contact an agent to confirm eligibility.
Early repayment
Reduce your balance or pay it off in full at any time, with no penalty.
Renewal
Available once 75 percent of the original amount and related fees are repaid. Contact an agent to confirm eligibility.
Banking security
Your credit file stays untouched.
No documents to send.
IBV sends us a picture of your transactions directly: no bank statements to upload by hand, no stack of papers to scan.
- No credit check, no impact on your credit score
- Bank-grade security (read-only access)
- A single piece of ID: licence, passport or health card
Bank connection
Read-only access, with your consent
Income confirmed
A picture of the last 90 days
No credit check
No impact on your credit score
Read onlyLast 90 daysA single piece of IDBank-grade security
Eligibility
Eligibility criteria.
6 criteria
Six conditions to submit an application.
- 01Be 18 or older
- 02Live and work in Quebec
- 03Have been in the same job for at least 3 months, or receive eligible income
- 04Be paid by direct deposit into a bank account
- 05Earn at least $1,500 a month
- 06Not be in bankruptcy
Eligible income
Salary, employment insurance, QPIP, CNESST, SAAQ and pensions. Last-resort benefits (social assistance, social solidarity) and self-employed status are not eligible.
A question about a criterion? Write to us: an agent replies during business hours.
support@pretformula.comMonday to Friday: 8:00 a.m. to 4:00 p.m.
Ready to start
Your application in a few minutes.
A response in 60 minutes during business hours. Interac deposit within 24 business hours, or the same day if the application is completed, signed and approved before 1 p.m.
Apply online