Medical Loans in Canada

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Make your health a priority with a Spring Financial medical loan 

For over a decade, Spring Financial’s medical loans have helped fund necessary and elective medical procedures and treatments. Don’t postpone essential health care. Our online application makes it easy to access up to $35,000, e-transferred directly to your bank account as soon as the same day you apply. Apply today. 

How to pay for medical treatment in Canada?

Unsecured medical loan

Unsecured personal loans are a popular choice for Canadians with medical-related expenses. They offer flexible loan amounts that could cover anything from major surgeries to smaller treatments like medication and cosmetic procedures. Plus, these don’t require collateral, making them one of the safest and most convenient financing options to cover health costs. 

Spring Financial has been providing medical loans to thousands of Canadians – often the same day they apply. Complete our 3-minute online application, and you could secure up to $35,000 with interest rates starting at just 9.99%. Apply now to see how much you qualify for.

Secured loans

These differ from their unsecured counterparts by requiring collateral, like your car or property. Since assets back these loans, they tend to feature lower rates. However, failing to meet the loan terms could result in collateral loss. This makes it imperative for the borrower to fully understand loan terms and stay organized with payments to protect the pledged collateral.

Insurance 

Insurance through your province, employer or personal plan can help with medical expenses. However, coverage varies depending on your plan and the care you seek. Aesthetic treatments are usually not covered, while those deemed medically necessary by your doctor could be partially covered. It’s best to check with your provider for coverage details.

Medical installment plans 

Like a personal loan, a medical payment plan breaks medical costs into smaller payments. However, they’re usually limited to cover specific treatments and are often provided by specific clinics, doctors or specialized lenders. Compared to personal loans, these plans usually have stricter terms and fewer options for early repayment, making them less flexible overall. 

On the other hand, some online lenders like Spring Financial provide the flexibility to pay off your loan early without any penalties. You can access up to $35,000 with the option to use the funds to cover a wide range of needs, from medical expenses to vacations.

How it works

1. Fill out our secure online application

Say goodbye to branch visits and long queues – everything can be done from the comfort of your device.

2. Get approved

Our dedicated team will promptly review your application and provide you with an approval within a matter of hours.

3. Receive your funds!

Once approved, receive your funds swiftly through a convenient e-Transfer directly to your bank account!

1. Fill out our secure online application

Say goodbye to branch visits and long queues – everything can be done from the comfort of your device.

2. Get approved

Our dedicated team will promptly review your application and provide you with an approval within a matter of hours.

3. Receive your funds!

Once approved, receive your funds swiftly through a convenient e-Transfer directly to your bank account!

Get a Loan Quote

How do I get a medical loan with bad credit?

Personal loans 

Many lenders specialize in financial assistance for people with poor credit. One shouldn’t be discouraged from applying if their credit is less than ideal. While rates might be higher for certain scores, many lenders still offer fair and competitive rates by considering other factors during the application process. These include earnings, debt, and employment, among others. 

No credit check medical loans

These are typically offered by lenders who overlook your credit score during the application process, often leading to instant approval. However, the downside is the high borrowing cost associated with these loans. Rates can often reach triple digits, and additional fees, such as origination costs, are often required. Experts tend to advise against this type of financing. 

If you seek good credit, whether to secure better interest rates, increase your borrowing power or land a dream job, consider joining Spring Financial’s credit-building program The Foundation. No matter your financial situation, this program is designed to help you grow credit and save up to $750. Learn more today. 

How do I apply for a medical loan?

The application process varies by lender. Banks usually require you to apply in person. Online lenders offer a fully digital process, which is often the fastest option for accessing money within the same day of applying. In general, you’ll need to provide documentation outlining your financial profile, such as bank statements, proof of annual income, and identity, among others. 

If you need quick access to funds, Spring Financial provides a streamlined application process without the need of traditional, in-person banking procedures. Our process is designed to be fast and convenient, allowing you to apply online in 3 minutes and receive the approved funds as quick as the same day.

Frequently Asked Questions

  • How easy is it to get approved for medical financing?
  • How do plastic surgery loans like beautifi work?
  • How long does it take to get approved for a medical loan?
  • Does applying for a medical loan affect your credit score?
  • What types of medical procedures can you get loans for?
  • What are the repayment terms for medical loans?

What can I pay for with a medical loan? 

Medical loans are primarily used to cover expenses not typically covered by health plans, such as elective cosmetic procedures, surgeries, and treatments. However, these loans aren’t limited to medical bills and debt; you can typically use them for other needs, like consolidating debt and covering personal expenses. It’s best to confirm with your lender how the funds can be used. 

Why choose Spring Financial?

spring
Max Amount $35,000
Interest Rates From 9.99%
Fully Online Application
Approval Within Hours
Same-Day E-Transfer
Bank Loans
Max Amount $50,000
Interest Rates From 9.99%
Fully Online Application
Approval Within Hours
Same-Day E-Transfer
Credit Cards
Max Amount $10,000
Interest Rates From $19.99%
Fully Online Application
Approval Within Hours
Same-Day E-Transfer
Payday Loans
Max Amount $1,500
Interest Rates From 200-450%
Fully Online Application
Approval Within Hours
Same-Day E-Transfer
Apply Now
*Information is based on averages and may vary by institution or lender. It is not intended to address specific circumstances or any individual case.

About Spring Financial

Apply From Your Device and Say Goodbye to Financial Stress

Experience the most convenient and hassle-free loan application, specifically designed for Canadians, by Canadians. Apply, get approved, and receive the funds via e-Transfer, all from the comfort of your device. Say goodbye to long queues and tedious paperwork! Our process is intentionally designed to be simple, fast, and straightforward.

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