FAQ: Can I borrow with no prior credit history?

As an alternative lender, urLoan specialize in providing loans to individuals with little or no credit history. Let’s face it, if you have good credit history or a good score, you like other Canadians, should be borrowing from a bank or credit union at a better rate. Why borrow from us?
poor credit
Although urLoan will pull your credit history to view your outstanding debt and your collection matters, if any, your credit score will not be the reason you are a declined for a loan with us. Our main focus to get you approved is on the following factors:

1. Your employment stability (i.e. how long have you been at your employer and what type of work), and
2. Your verifiable income from employment.
If you have no credit history, another option to begin to build a profile is to get a co-signer on your loan. A co-signer will not get reported on their credit bureau unless your loan goes into default; this would allow you to begin to build a credit profile.

As always, if you have any questions, please don’t hesitate to reach out to our loans department at 1-855-723-5626 ext. 1.