Canadian FinTech lender Loanz plans to launch in the United States while expanding its Credit Box in Canada, which offers loans to low-credit customers in Canada with starting interest rates of 9.9%.
“The expansion of our brand in the United States, coupled with efforts to expand our credit band for Canadians, demonstrates our continued intention to become the first stop and best place in North America to get a personal loan,” Loans Chairman Paul Hadzoglou said in a statement. Press release Monday (March 7).
“Our clients are our family, and we want to make sure we have the broadest reach with a rate that works for them all, based on their credit score, income, and personal circumstances,” Hadzoglou added. .
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Currently providing loans only in Canada, Loanz.com receives over 40,000 inquiries per month from citizens looking for a personal loan for a number of reasons. Consumers can apply directly online and get financing in less than a day for terms ranging from one to five years. The Loanz credit box extension gives any Loanz.com applicant fast approval with low rates.
The Loanz brand is affiliated with LendingArch in Canada for auto finance loans, a move that has helped Loanz grow its brand as it strives to become a leading personal loan player in Canada and the United States. United States.
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“We aim to have the highest approval rates, with the widest credit band and in turn be the largest FinTech personal lending platform in North America,” Hadzoglou said.
The company plans to roll out in the United States in the second quarter of this year. Based in Irvine, California, and launched in 2013, Loanz has been targeting the Canadian market since its acquisition by Canadian FinTech loan comparison company Consumer Genius Inc. in 2016. Consumer Genius recently launched in the United States and Australia.