About Spring Financial

Spring Financial is a Vancouver-based online consumer lender founded in 2016 that has helped over one million Canadians access loans and build financial independence. Unlike traditional banks that reject borrowers with bad credit, Spring Financial offers tailored solutions designed to give all Canadians the opportunity to establish credit and access affordable financing.

Spring Financial offers three main products: The Foundation credit builder, the Evergreen Loan, and unsecured personal loans.

The Foundation — Credit Builder Program

The Foundation is Spring Financial’s entry-level product designed for Canadians who have been declined for a personal loan or are starting from scratch with no credit history. It is not a cash loan — instead it operates as a structured savings and credit-building subscription.

Borrowers pay $55 every two weeks for 12 months. Each payment is reported to both Equifax and TransUnion, creating a positive payment history on the borrower’s credit file. After 12 months of on-time payments, borrowers receive $750 in accumulated savings and qualify automatically for the Evergreen Loan — a real upfront cash loan. The Foundation has a 100% approval rate and is available to any Canadian.

The Evergreen Loan

Available exclusively to borrowers who complete 12 months on The Foundation, the Evergreen Loan provides $1,500 in upfront cash at 18.99% annual interest with an 18-month repayment term and bi-weekly payments starting at $44. Payments continue to be reported to the credit bureaus, helping borrowers maintain and improve their credit score after completing The Foundation.

Unsecured Personal Loans

For borrowers who qualify immediately, Spring Financial offers unsecured personal loans from $300 to $35,000 at rates between 9.99% and 35% APR, with repayment terms of 9 to 84 months. All credit scores are considered. Applications take under five minutes online and same-day funding via Interac e-Transfer is available in most cases. Applicants who do not qualify for the personal loan are automatically referred to The Foundation program instead.

Why Choose Spring Financial?

Spring Financial accepts all credit scores and is available across Canada. There are no application fees, no setup fees, and no cancellation fees. The only fee is a $30 charge for missed payments. Borrowers can pay off their loan early at any time without penalty.

How to Submit a Spring Financial Loan Application

At Spring Financial, applying is always simple and quick.

There are only three simple phases to the entire process:

Fill out an application online in under five minutes.

Submit a legitimate ID from the government, then finish the online banking verification.

Receive approval and watch the money transfer via e-Transfer show up in your bank account as soon as the same day.

You can also submit an application via text or phone. Live chat agents are available to assist you in gathering and reviewing the necessary papers.

Spring Financial FAQs

Does Spring offer Interac e-Transfer?

Yes, you can get a personal or Evergreen loan sent by Interac e-Transfer within 24 hours of approval. Funds can also be sent by electronic fund transfer (EFT) in one to two days.

Are there any extra or hidden fees with Spring?

No, there are no hidden fees. There are no application, setup, maintenance, or cancellation fees. However, there is a $30 fee for missed payments. If you think you’ll miss a payment, contact customer support to discuss your options.

Can I get a  guaranteed approval loan?

Spring Financial works hard to get you approved, even if you have poor or no credit. Some applicants for unsecured personal loans may be referred to The Foundation program to rebuild their credit first. Completing The Foundation guarantees you qualify for an upfront cash loan in 12 months. The Foundation has a 100% approval rate.

Does Spring Financial charge cancelation fees?

No, you can cancel anytime for free. Customer support can also lower your payments or send you some or all of your savings if needed. Contact the team to explore your options.

Spring Financial Products

Personal Loans

Loan Amount

• $300-$35,000

Rates & Term Length

• Interest Rate: 9.99% – 35% APR
• Payment Schedule: 9 – 84 months

Service Details

• Loan Processing Time: Within 24 hours 
• Money Transfer Method: Interac e-Transfer
• Repayment Method: Automatic debit

Eligibility

• Over 18 years of age 
• Must have a steady income source
• Must have an active bank account

Required Documentation

• Government-issued ID
• Proof of income