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| Sep 8, 2023

An Overview of Canadian Federal Debt Relief Programs

Having some form of debt can work in your favour. You need a variety of credit lines in order to increase and maintain your credit score. That said, it can be easy for that debt to get out of control.

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* Spring Financial Inc. provides loans up to $35,000 with interest rates ranging from 9.99% to 46.99%, and terms from 6 to 60 months. APRs on such loans range between 10.8% to 46.99%. Your actual rate will depend on a variety of factors such as your credit score and the loan amount.

An example of borrowing costs paid on a $5,000 loan with a 60 month term at 10.87% APR is a Weekly payment of $24.43, with the total repayment amount of principal and interest being $6,352.33 and the total cost of the loan (interest only) being $1,352.33.

To qualify for The Foundation, you must have an active account with a bank or financial institution, as approved by Spring Financial, and a valid government-issued Canadian ID. The Foundation is available in all provinces except Saskatchewan, Quebec, and New Brunswick. Results from The Foundation depend on the individual. All guarantee references are made in connection to the Evergreen Loan. To qualify for the Evergreen Loan, you must first successfully complete 12 months on The Foundation and save $750, have an active account with a bank or financial institution, as approved by Spring Financial, and a valid government-issued Canadian ID.

Spring Financial Inc. is headquartered at Suite 600, Two Bentall Centre, 555 Burrard Street, Vancouver, British Columbia, Canada, V7X 1M8

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