All You Need To Know About Flex Loans In Canada

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 In General

Flex Loans, offered by Cashco Financial is one of the most popular personal loan brands in Canada. Cashco Financial is a privately owned Canadian company which operates out of 62 locations spread over four provinces in Canada. It is headquartered in Edmonton, Alberta. It has changed lives of thousands of Canadians by granting loans at the right time. Most of them have felt empowered and have gone on to pass over the financial tide and live a much better life.

What is a Flex Loan?

Flex Loan is a long-term personal loan that you can avail from Cashco Financial. A personal loan is an unsecured form of loan, usually repaid over a long-term course which allows you to utilize the loan for any personal purpose, be it loan consolidation, meeting a large unexpected payment obligation, making house improvements or repairs, for auto repairs, payment of different utility bills and for myriad reasons. The most important thing about a personal loan is that it is convenient. Most creditors and lenders would issue a personal loan even if you don’t have the best credit rating score. Moreover, not too many stringent checks are carried out which means these loans can be availed at short notice and when there is an emergency.

Flex Loans are unique because Cashco usually approves some amount or credit even if you don’t have the best credit history through regular and timely payments. Cashco Financial, unlike a number of other lenders, also makes sure that your payments are reported to the Credit reporting Agency or Credit Bureau. This means you can very quickly stop the downgrading of your personal credit rating and eventually push it higher. Cashco Financial Flex Loans can be paid in a number of installments which gives you more time to restructure your finances and also many opportunities to make payments on time and a chance to reinvigorate the credit history.

A good credit score is a must if you want to apply for a home loan, auto loan or a student loan. Even though these loans are secured, wherein you will have to offer collateral in exchange for the loan or have a guarantor stand in for you. You would also need a good credit score if you want to get a personal line of credit in Canada. It makes life easy for you in a number of ways. Having a good credit score will also give you a psychological boost. It will help you to feel safe and confident.

A Flex Loan can also be used to consolidate all your debts. If you have got yourself entangled in a debt trap, a lot of financial experts in Canada will tell you to first find a single loan that would consolidate all your other loans. Since, the rate of interest of Flex Loans is much lower all short term loans, credit card debt loans and most other long term personal loans in Canada, you will actually be paying much less in interest every month.

These is also the convenience angle. instead of having to preoccupy yourself with bills, papers and documents of a number of loans or having to keep in mind due dates of payment of different loans, you will simply have to worry about one single loan and that makes the payment process much simpler.

How Can You Get a Flex Loan?

The process is very simple. You can either apply online or you can visit one of the many Cashco Financial brick and mortar stores located in many prominent cities and places across Canada.

If you decide to apply online, you can quickly apply on the website of Cashco Financial. the form is really simple and all you have to do is answer some basic questions. Once the loan is approved, you can get it credited directly to your registered bank account or pick it up from a store near you with a print out of the approval receipt and other required documents. The process would be similar in a physical sotre and the loan is approved within 24 hours of your loan approval.

however, you must remember that your debt to service ratio and your prior credit history would be checked and you must be prepared for this. Also, the company maintains the rights to make additional investigations, if required. But it is very rare. The process is completely hassle-free and convenience of the clients always gets the highest priority.

If you have queries about any specific aspect of a Flex Loan or if you want to talk to an agent about your individual case before taking a loan, don’t hesitate to make a call at 1-855-914-7940. 

Benefits of Flex Loans

A Flex Loan has a number of benefits:

  • A loan up to $5000 will be approved and you can choose to repay it over a maximum time horizon of 36 months. This means you get enough time to take stock, reorganize your finances and pay back.
  • A Flex Loan is extremely flexible. It also gives you the option of pre-closure should you choose to pay off the loan before you agreed full tenure of payment. You can also top up your loan in case you need more credit over and above your original loan. You can choose the frequency of payments as per your convenience. You may choose a bi-weekly or monthly payment scheme.
  • You can use it to consolidate your loans or use it as a means to improve your credit scores (as discussed before).

Conclusion

A Flex Loan offers a wonderful financial assistance at a time you need cash. If you ever need one, don’t hesitate to apply. It’s soft loan and as a result, which means the interest you will be paying will be much less than some of the other loans that you may have. Use it to take care of your contingent or recurring financial needs and enjoy the convenience.

 

 

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