What does Finjoy do?
Finjoy is a professional and transparent online lender. We want to provide affordable loans to as many people as possible, because we believe you shouldn’t have to pay extremely high fees and interest rates as those charged by payday lenders.
Which areas do you serve?
Currently we can offer loans to residents of British Columbia.
Do you offer payday loans?
No, we only offer installment loans which are much cheaper than payday loans. Actually, we believe that our loans can help you stay away from the cycle of payday loans. In addition, we can help you improve your credit score (if you maintain a good repayment record), which in turn can help you access even cheaper credit, saving a lot of money.
How are you different from a bank?
The biggest difference is that we actively look for ways to help you when banks don’t want to. We are much more flexible, looking beyond your credit score. We know you are more than a number, so we consider your overall financial picture. We are also faster than banks: if you submit a complete application, we can approve you within a day.
How do I contact you?
Call us on our toll-free number (844) 435 3934 or e-mail us: info@finjoy.ca.
How do I provide feedback or report a problem?
We love to hear from our clients and value the feedback we receive from them. Call us on our toll-free number (844) 435 3934 or e-mail us: info@finjoy.ca.
Do you have a referral program?
We value and welcome your referrals. In fact, most of our clients have been referred to us by satisfied past clients. Please contact your Finjoy Advisor for more details about our referral program.
How do you handle my personal information?
We take the privacy of our clients very seriously. As a responsible company, Finjoy only uses your personal information for purposes related to your loan application and loan administration. We have a comprehensive privacy policy, the details of which can be found on our website.
Why do you have a Financial Education section on your website?
Everyone can benefit from better financial knowledge. While money can’t buy you happiness, having a certain degree of financial security can make life much more pleasant. Our educational section covers important areas related to personal finance with tips, insights, and news, providing better financial knowledge, and hopefully a less stressful life.
About Finjoy Loans
How do I apply for a loan?
Applying for a loan at Finjoy is simple, quick and secure. You can apply online from your mobile device or personal computer at any time. If you prefer, you can contact one of our friendly advisors and they will be happy to assist you throughout your loan application.
How much can I borrow?
This depends on the strength of your application and your previous history with us. Most first time Finjoy borrowers are approved for up to $2,500. Returning clients with a good repayment record can often qualify for a higher loan amount, up to $10,000. You can refer to our calculator to get a rough estimate of your payments for various loan amounts.
How long does it take for my loan to be approved?
Once we receive all required information and documents, your application can be processed within one business day.
If I have poor credit can I apply for a loan?
Yes. We look at more than just your credit history, because we know anyone can get into financial difficulties. What we look for are responsible borrowers.
What do I need to apply?
- Show employment income
- Provide last 3 months’ bank statements (easily done online)
- Provide your ID
In some cases, we may need additional documents and/or a co-signor to strengthen your application.
Do you check my credit score?
Yes, but we look at many other factors when evaluating your application. Your credit score is only a small part of the overall picture. Many of our clients have less than ideal credit history but we are still able to help them.
If I have a bankruptcy or Consumer Proposal can I still get a loan?
In some cases, yes. Many of our clients have had financial challenges in the past, and unlike most banks, we are still able to help such clients in some cases. Please contact a Finjoy Advisor to review and discuss your specific situation in detail.
Why is it important for me to read and understand my loan agreement?
Your loan agreement is a legally binding document. It is very important that you read this carefully and make sure you fully understand it. It may also be a good idea to review the agreement with a lawyer if you are not fully clear about the agreement.
I have paid off my previous loan, can I apply for a re-loan with Finjoy?
Yes. We would be glad to help you if the need arises. Depending on the province of your residence, different rules and policies apply. Please contact us for further information.
Repaying Your Finjoy Loan
How do I repay my loan?
Easily. When you apply, you give us authorization to debit your account on the scheduled days. Your payments are then deducted automatically from your account.
Can I repay my loan faster?
Yes, you can payoff your loan anytime you want or make extra payments without any additional fees or penalties
When is my first payment due?
The date of your first payment will be discussed and agreed with you prior to finalising and signing the loan agreement.
I’m not able to make my payment this month, what can I do?
If you are unable to make your payment at any time, we ask that you contact us at least 3 business days before your payment is due. Together we will find a solution that works for you. Contact us info@finjoy.ca or call (844) 435 3934
What happens if I miss a payment?
If you know you will miss a payment you should contact us at least 3 business days in advance to discuss alternative arrangements. Otherwise you will be charged an NSF fee. Your bank or financial institution will most likely charge you an NSF fee also. These can add up, so please make sure you contact us as soon as you feel you may have a problem.
About Backers
What is a backer?
A backer is a co-signer on your loan. Your backer is kept informed of any problems on your payments, and agrees to pay off your loan whenever you are unable to.
If your credit history and application are not strong enough, then adding a backer will help increase your chances of approval since it helps build your trust.
Who can be my backer?
A backer is someone you trust and someone who trusts you, like a friend or family member (but not your spouse). Anyone who knows you well enough to be willing to co-sign for your loan. We have the same requirements for the backers as for the primary loan applicants.
As a backer, what are my obligations and what do I need to know?
As a backer, you are acting as a co-signer on the loan and you are agreeing to pay off the loan if the primary borrower is unable to. Should that happen, you will be responsible for any missed payments.
You should only act as a backer if you have confidence in the ability of the primary loan applicant to fully repay the loan. We inform backers of all and any missed payments.