EDITOR’S NOTE: This is a paid advertisement. I’m not backing the product and have never used it, although Cashco did look like they had some good online reviews. I know nothing about the validity of those, however. Use at your own risk. Regardless, there’s some decent info at the bottom about securing loans and it can be used whether or not you patronize this company or not.

Personal loans, when taken under the right circumstances and for the right reasons, can help you get out of a cash crunch. Personal loans do not require collateral but instead depend mainly on your credit history. The interest rate may be slightly higher but you don’t risk losing your house or car if you fall behind in the payments!

Personal loans, which are paid in installments, are fixed and predictable. They allow you to manage your finances better because you know the exact amount you have to pay per installment. Some lending companies like Cashco Financial allow you to change the amount you pay per installment, or the overall term of the loan at your convenience.

Why are Cashco Financial Flex Loans Your Best Option?

Cashco Financial is one of the most respected financial services company in Canada and it has over 30 years of experience in helping Canadians overcome their financial issues. Cashco Flex Loans are the most flexible personal loans in Canada. They allow you to borrow up to $5,000 and choose a term of up to 36 months. Flex Loans also give you the option of choosing your installment amount and how often you pay it. Cashco treats each case on its individual merit and the aspects of each Flex Loan can be altered depending on your needs.

Cashco also specializes in lending short-term payday loans which are only for short-term contingencies and never for meeting regular utility bills or settling some other debt obligation. You are expected to pay the principal and the interest by your next payday. However, the company requests you to carefully evaluate the pros and cons of a payday loan before taking one. Cashco Financial also approves auto loans and pre-settlement cash advances.

Flex Loans are also one of the best known Canadian online loans and you won’t need more than a few minutes to fill in the simple application form and upload some related documents. Once your loan is approved, the funds will be released right away.


4 Things That Improve Your Chances of Getting a Personal Loan Approved



  • Don’t make multiple loan applications simultaneously: Multiple loan applications give lenders a perception that you are desperate for a loan and you are not confident of your chances of success. The immediate suspicion will be that you do not have a good credit score. Creditors become very rigid if they think you are desperate. Also, every time you apply for a loan and it doesn’t get approved, your credit score can take a beating and multiple rejections can drop your credit score significantly.


  • Assess your credit score and apply to the right lender: A good credit score of 750+ will make your chances of success almost absolute. But, for those with scores below 700 need to be a little more careful. All conventional lenders are not guaranteed to offer you a loan. If your score is below 600, chances become slimmer that you will be approved. You would need to choose the right lender.
  • Don’t apply for a personal loan within six months of another loan or if your credit score has not improved considerably: It is advisable not to apply for a loan within six months of a major loan that you had already taken. If you had defaulted on payments or have too many late payment records on your credit history, it is best to wait for a while before applying for another loan.
  • Don’t let the payments be more than 40% of your total monthly income: If you have long-term installment loans and you need to take another loan, make sure your debt to income ratio is healthy. Don’t let your non-home loan payments be more than 40% of your income. Lenders like to see that you have a steady income and you have enough to spare to make your payments after you clear your other bills.
  • Apply for the right loan amount: It is not only important to be able to choose the right lender but also to borrow the right amount. Have a realistic expectation and take only what you need. Try to take as little as possible if you want to avoid higher interest payments. For example. if you can manage with $2000, don’t apply for $3000. Also, don’t inflate your income to get a bigger loan because lying on official documents can lead to trouble.

Following these instructions will increase your chances of getting the right loan approved.