Loan Terms & Disclosures
Transparent Terms.
No Surprises.
Minimum repayment
Bi-weekly structured payments
Maximum repayment
Flexible plan, no penalty
Maximum annual rate
All fees included. Nothing hidden.
Representative Example
$1,000 loan over 120 days.
No hidden fees, no membership costs, no broker charges. The total cost is exactly what you see below.
Approval is subject to income verification and does not guarantee a loan offer. No membership, brokerage, or application fees apply.
The Process
Apply now, money by tomorrow.
Complete the form.
A 5-minute online application. No branch visit, no fax, and no paperwork required.
Instant verification.
Secure IBV technology verifies your income directly with your bank in real time. No payslips or manual review needed.
Review your offer.
See the full payment schedule before you sign anything. You can walk away at any point with no obligation.
Money arrives.
Direct deposit within 24 business hours of approval.
Why loanspot.ai
Smarter lending, better outcomes.
We read your real income directly — not an outdated credit score — and match you to a loan that fits your actual situation.
One rate. Full cost.
Our 34.99% APR is the total cost of borrowing. No membership fees, no broker add-ons, nothing charged after you sign.
Income-based decisions.
IBV connects directly to your bank in real time — no payslips to upload, no waiting on a manual reviewer.
Full transparency upfront.
Every payment, every date, and your total cost are shown before any commitment. Walk away anytime — no obligation until you sign.
Implications of Non-Payment
What happens if you miss a payment?
These are the consequences of missing a payment, presented clearly so you know what you are agreeing to.
Late fee policy
A one-time late fee may apply after a 3-day grace period. We will contact you before any fee is charged.
Collection practices
Accounts overdue beyond 90 days may be referred to a third-party collections agency. This can affect your credit file and should be avoided by contacting us early.
Credit reporting
Payment history may be reported to Canadian credit bureaus. On-time payments help your score. Missed payments hurt it. We report both.
Renewal policy
loanspot.ai does not automatically renew or roll over loans. Any new loan requires a fresh application and new income verification.
Boost Your Approval Chances with a Cosigner
Our partner, Cosigns.ca, can help you secure your loan even if you have less-than-perfect credit.
Why Consider a Cosigner?
Adding a cosigner to your application reduces the risk for lenders, which often leads to immediate approvals and better terms.
Faster Approvals
Skip the waiting period. Cosigned applications jump to the front of the line.
Higher Acceptance
Even with bad credit, a cosigner's backing drastically improves your odds.
Seamless Process
Our integration with Cosigns.ca makes adding a cosigner entirely digital and stress-free.
4 Simple Steps to Success
Apply
Start your standard application with loanspot.ai.
Get Referred
If we need extra security, we'll direct you to Cosigns.ca.
Add Cosigner
Your cosigner completes a quick digital verification.
Get Funded
Once approved, funds are transferred instantly.
Cosigner & Cost Disclosure
- • APR max 34.99%.
- • The fees for third-party cosigner services are independent of our loan terms.
- • These fees are separate from loan interest and may affect the effective Annual Percentage Rate (APR).
We encourage all borrowers to carefully review their agreement and understand the full cost of borrowing before signing.
Ready to borrow
Borrow up to $1,500.
Get approved today.
Zero extra fees.
No guaranteed-approval claims, no pressure — just a quick income check and a full offer you can review at your own pace.