No Credit Check Loan at Prêt Formula
Our fast loans do not require a credit check!
By choosing Prêt Formula loans, you don’t have to worry about your credit score, since the loan amounts are not large enough to require one. We are able to assess your ability to repay your loan simply by analyzing your application along with the IBV. It is important to complete the IBV during your application to avoid additional delays in the approval process.
Yes, it is possible to apply for a small loan with no credit check! We only verify that you have been employed for more than 3 months.
IBV is an essential step in analyzing your loan application. It allows us to review a summarized version of your banking transactions and activity from the last 90 days. This enables us to verify the amount and frequency of your pay deposits and assess your ability to repay. IBV is much faster and more flexible than a traditional credit check.
Evaluation Criteria for
Your No Credit Check Loan
Having a credit score that is too low for traditional bank loans does not mean you cannot qualify for financing for reasons such as:
- - A small renovation project
- - Replacing household appliances
- - An unexpected expense or bill
- - An unexpected but necessary expense;
We understand that improving your credit score can take time. That’s why a no credit check loan can be a temporary solution when you are facing an unexpected situation.
When we review your application, we only examine the last 90 days of your bank statements. Since there is no credit check, your credit file is not impacted by your application.
Get a mini loan despite bad credit?
It is possible to obtain a no credit check loan even if your credit score is low. We base our analysis solely on the answers provided in your loan application form.
Because we do not perform a credit check, we will also ask you to provide certain documents to validate your information and ensure you meet our eligibility criteria, which are:
- Be 18 years of age or older;
- Live and work in Québec;
- Not be self-employed;
- Have been employed for more than 3 months
- Not have too many NSF (non-sufficient funds) transactions in the last 60 days;
- Be paid by direct deposit;
- Not be receiving social assistance;
- Not have too many active loans with lending agencies.
You can receive confirmation of your mini loan in as little as 60 minutes if all required documents are properly uploaded to your online profile during your loan application.
Testimonials
A Loan Is a Commitment
A no credit check loan remains a financial commitment. This type of loan may involve higher fees than a traditional bank loan and should only be used in cases of necessity, when no other options are available.
NEED HELP?
Do you have questions about your no credit check loan?
Don’t hesitate to contact us! Our agents are available to assist you:
support@pretformula.com