Loanz.com To Expand in the US, Increases Credit Box in Canada
Loanz.com, a FinTech platform established in 2013 and offering individual loans in Canada, announced on March 7, 2022, plans to launch in the US in Q2 of 2022. The company also announced the expansion of its credit box, allowing Canadians with lower credit scores a rate of just 9.9%.
Paul Hadzoglou, the President of Loanz.com, stated that the company considers its customers family and wants to ensure the widest reach so that the rates can be affordable to anyone according to their financial and credit status.
The growth of the credit box for Canadian customers means that they'll be able to get reasonable rates once they apply via Loanz.com. They'll also get these rates in a short time, within a few hours. Loan applicants don't have to leave their homes, either, since the entire application process is done online and digitally.
Right now, Loanz.com gets more than 40,000 personal loan applications monthly from Canadian residents. Customers can borrow funds for emergency expenses, home renovation, paying off debt, or any other reason. Once they apply via Loanz.com, they’ll receive funds within 24 hours. The company offers one-year to five-year term personal loans.
The company's platform is free for users nationwide, with a loan application at no personal cost. Loans.com's parent company, Consumer Genius Inc, recently launched in Australia and the US with similar services. Loanz.com is also affiliated with the auto finance loans leader, LendingArch, in Canada.
The company wants to become a fintech leader in North America, and its expansion into the US is undoubtedly going to expand its user base significantly. Just how much they can do next to already established industry leaders remains to be seen.
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