About Loan Away

Loan Away is an online lender that provides installment loans up to $5,000 for eligible borrowers, and you can use the funds for any purpose. They have a high approval rate of 80% – 90%, so even those with bad credit or a recent bankruptcy discharge can qualify if they submit the necessary details. Loan terms typically range from 6 to 36 months, but borrowers have the flexibility to pay off their loans early without any penalties.

One of the biggest advantages of being a Loan Away customer is the ability to get small, quick installment loans with minimal restrictions. Once approved, the funds are typically deposited directly into your bank account as a lump sum.

Benefits of a Loan Away installment loan:

• Flexible repayment terms ranging from 6 to 36 months
• Applications are accepted every day of the week
• No penalties for paying off your loan early

Loan Away FAQs

Can Someone Who’s Been Bankrupt Get a Loan From Loan Away?

Yes, you can get a loan from Loan Away even after declaring bankruptcy. The key requirement is that you must be discharged from bankruptcy, not currently undergoing it.

What Other Requirements to Get a Loan?

To qualify, you need to be a Canadian resident, over 18 years old, employed, and able to provide proof of employment.

How Repayments work?

Your installment payments will be automatically deducted from your bank account.

What Should I Do If I Don’t Have Enough Funds for a Scheduled Payment?

If you know you won’t have enough funds for an upcoming payment, contact Loan Away immediately to arrange a different payment date. 

How Safe Is My Personal Information?

Loan Away protects your personal information using industry-standard security software, similar to what banks use.

Loan Away Products

Installment Loan

Loan Amount

• $1,000 – $5,000

Rates & Term Length

• Interest Rate: 19.9% – 34.5% APR
• Payment Schedule: 12 – 36 months

Service Details

• Loan Processing Time: Up to 24 hours 
• Money Transfer Method: Direct Deposit
• Repayment Method: Automatic debit

Eligibility

• Over 18 years of age 
• Must be Canadian citizen or permanent resident
• Over $1,000 of monthly income
• Must have steady income 

Required Documentation

• Government-issued ID
• Proof of income
• Void Cheque