Eastern Loans
Eastern Loans is an online lending platform providing fast, small-to-medium personal loans to Canadians. They focus on quick access to cash for those who may not have strong credit or easy access to traditional bank financing, offering a secure and easy-to-use application process.
Expert Review
Best For
EasternLoans is ideal for Canadians who need quick cash to cover unexpected expenses or short-term shortfalls and may not qualify for traditional personal loans.
Our Take
EasternLoans is an online lending platform that provides fast, small-to-medium personal loans to Canadians who need quick access to cash, particularly those who may not have strong credit or easy access to traditional bank financing. It markets itself as a straightforward alternative when time is of the essence and conventional lending is too slow or restrictive, prioritizing convenience and accessibility over deep credit scores.
What We Like
- Fast and Easy Application
- Accessible for Many Credit Profiles
- Flexible Use of Funds
- Quick Funding
Where to Improve
- Higher Cost Compared to Traditional Lenders
- Shorter Loan Terms
- Discipline Required for Repayment
Verdict
EasternLoans can be a strong option for Canadians needing fast access to cash who either don’t qualify for or don’t want to wait for traditional bank financing. It serves as a bridge for urgent needs, but borrowers should carefully consider the costs and have a clear repayment plan to avoid higher borrowing expenses.
Brand Signals & Trust
Years in Business
12+
Geographic Reach
9 provinces
Product Diversity
1 product
Customers Served
Over 80,000
Trust Badges
Quality Lender, Enduring Excellence
Products Offered
Payday Loan
Amount Range
$500 - $1,000
Interest Rate
Varies by Province
Term
3 - 6 months
Funding Speed
Same Day
Eligibility
- Be a Canadian Citizen or permanent resident
- Be paid by direct deposit
- Be 18 years old and over
- Have a steady job (3 months minimum)
- Earn at least $1200 /month
Google Reviews
89 Google reviews
Monday: 8:00 AM – 8:00 PM
Tuesday: 8:00 AM – 8:00 PM
Wednesday: 8:00 AM – 8:00 PM
+4 more days
Photos
I really appreciate for EasternLoan standing behind their products to help out their clients who are facing situations where they need funds to take care of better than traditional banks would declined your loan request right away due to multiple factors reasons that they don’t meet their expectations. For this company, I am very grateful for their great services for approving my loan request that I need to take care of my bills. Thank you for your help and recommended to my family and friends to this place!
Frustrated- this loan company approved me quite quickly, considering my ID was expired and I had to replace it. I was told that I was approved and the etransfer had been sent, 3 hours ago. I still haven't received the etransfer. I called in, the agent I was speaking to confirmed that the etransfer had infact been sent, that there must be a glitch or error and to wait until the end of the day.... she didn't tell me what time the end of the day was, or what I was supposed to do if the end of the day comes and nothing is still sent to me? The reason I applied for a loan with them is because I am in the jam and need some extra money, asap. I have never had an etransfer take longer then 2 hours before. I really hope it arrives soon.
A bunch of thieves. The representative I spoke to has an IQ of a rock. I made an arrangement to have my last payment be on June 4th. The audio of the phone call was recorded legal purposes. Two weeks later, I'm still seeing transactions from PLATINUM FINANCIAL ( a sister company ) leave my bank account. I have ALL BANK STATEMENTS AS PROOF. I called back and spoke to said representative and this person claimed that no agreement was made and that I was missing payments, Even after all scheduled payments were made. They even switched the amounts/transaction name on the payment so that placing a stop payment is next too impossible. I'll be paying this individual a visit in the coming weeks, We'll see how clueless they act when there face to face with both my attorneys/law enforcement. This person claims that his name is Bill, Which is doubtful because all these so called Lenders just mask phone calls and play dumb. Avoid these predators, As now im actively taking steps to ensure these people get charged with fraud/theft. I've made my financial institution aware of the transactions and they will be taking the appropriate action to deal with these subhumans.
DO NOT BORROW HERE!!!!! Eastern loans/ thunder loan/platinum financial ( all the same company)is an Absolutely Ridiculous company!!! I dont even have a loan with them and they have taken over 500$ from my account 3 different times and 2 payments were taken in one day and they changed some letters in the name platinum financial so it’s difficult to keep putting a stop payment! I now have the account closed and switched banks alltogether and i get an email saying they know my account is closed and want my new banking info 😂 yeah good luck with that! Bunch of thieves !
Applied for a loan to help get bills back on track, within 5 minutes they sent me an email. APPLICATION Denied "to protect your privacy. No reason is given" Poor review process.
How Eastern Loans Compares
Quick Eligibility Check
Get a quick indication of whether you might qualify with Eastern Loans.
This is an estimate only and does not guarantee approval. For a detailed assessment, use our full loan estimator.