At times the fine print can be a pain to read but we encourage you to do your due diligence, read and understand the fine print and all aspects of your potential partnership with LM Credit.

LM Credit offers personal unsecured loans in all provinces (except Quebec) in Canada and Territories.

UNSECURED PERSONAL LOANS

  • LM Credit offers Unsecured Personal Loans from $500 – $15,000 for amortization periods of 9-60 months. Our rates are between 25.99% to 50.00% depending on the amount of the loan, length of the term and our assessment of your credit profile.
  • Credit pre-approval can happen within 30 minutes once your application is completed, with a final lending decision made within 1 business day. The transfer of funds can happen as soon as the same day. All timelines are subject to all document requirements and other due diligence being met.
  • LM Credit is in the business of lending personal loans for relatively short time periods and is not a credit repair service. LM Credit may help improve your credit score by building your credit history as long as your payments are made on time and in full.
  • Payments will include the optional loan protection insurance fees, but excludes any applicable provincial taxes and prepaid card fees.

MANAGING CREDIT SCORES

Having a loan and honouring all of the obligations can be good for your credit/beacon score; but having too many loans can be detrimental to your credit health as well. Creditors may see that behavior as an increased risk to repayment. Borrow responsibly as this may impact your credit score in a negative way.

RENEWALS

LM Credit loans do not automatically renew at the end of the amortization period. All requests to change your loan parameters or to increase the loan amounts can be made after a specific portion of the existing loan has been paid. The request must be made in writing or by phone call in order for LM Credit to apply underwriting obligations and assess if the request can be granted.

COLLECTION METHODS

In the event of any late or missed payments LM Credit will contact the clients in arrears as soon as possible through various means available to LM Credit. These include telephone, email, postal mail and SMS. LM Credit may also choose to work with third parties in order to assist in collection activities.