Canadian FinTech lender Loanz is likely to launch within the U.S. while also expanding its Credit Box in Canada, which offers loans to low credit customers in Canada with starting rates of interest of 9.9%.
\”The expansion of our brand into the USA, along with your time and effort to widen our credit band for Canadians, proves our consistent intent to become North America's first stop and best place to obtain a personal loan,\” Loans President Paul Hadzoglou said in a press release on Monday (March 7).
\”Our customers are us, and we wish to ensure we've the widest reach with a rate that matches these, in accordance with their credit rating, income and personal situations,\” Hadzoglou added.
Currently extending loans only in Canada, Loanz.com receives over 40,000 applications per month from citizens searching for a personal loan for just about any number of reasons. Consumers can apply directly on the internet and get funded in less than a day for terms running 1 to 5 years. Expanding the Loanz credit box gives any Loanz.com applicant fast approval with reduced rates.
The Loanz brand is associated with LendingArch in Canada for Auto Finance Loans, a move that has helped Loanz grow its brand as it works to become a leading player within the personal lending space in both Canada and also the U.S.
\”We are aiming to have the highest approval rates, using the widest credit band and in turn be the largest FinTech personal lending platform in The united states,\” Hadzoglou said.
The company plans to unveil within the U.S. within the second quarter of this year. Headquartered in Irvine, California, and launched in 2013, Loanz has been individuals Canadian market since being acquired by Canadian FinTech loan comparison firm Consumer Genius Inc. in 2022. Consumer Genius recently launched within the U.S. and Australia.
