FinTech “LOANZ” processes over $205 Million in loan applications
By Edlyn Cardoza
Loanz, a popular FinTech platform that recently launched in Canada, announced its first quarter results on application volume and application numbers. Since May 2021, the company has received over 40,000 individual applications for Canadians looking for a Personal Loan, accounting for over $205 Million Dollars in application volume. “We are pleased to announce the results of our first few months in business” says Paul Hadzoglou, President of Loanz Canada Inc. “We have always known there were a lack of options to allow for consumers to apply for an online personal loan through a digital process without having to step foot in a bank, lender or brick and mortar storefront, a digital, seamless service that needs to be improved and brought to the digital forefront of FinTech. This is exactly what we at Loanz have embarked upon to solve for Canadians and we feel our initial results go a long way to proving out our achievements.”
The platform is available in Canada, and consumers can apply directly through Loanz and get an instant approval and funded within 24 hours. Loanz offers personal loans as low as $1,000 and as high as $15,000 on a 1-year to 5-year term basis.
Millions of Canadians take out personal loans every month for a variety of reasons. From planning a vacation, to personal events such as weddings, or to just consolidate their debt or perform a home renovation, a personal loan is the best choice for many individuals.
The Loanz brand continues to gain strong traction in the marketplace and is also affiliated with industry leader CarsFast in Canada for Auto Finance Loans. This move sets Loanz on a path to become dominant in the Personal Loan Space in Canada. “We are aiming to have the highest approval rates, and in turn be the largest FinTech personal lending platform in Canada” says Paul.
The Loanz platform is free to use for consumers Nationwide, and anyone can apply for a loan at no cost to themselves. Loanz currently services over 15,000 Canadians every month. The parent company of Loanz, Consumer Genius Inc., has also recently launched into the United States and Australia, providing similar services to residents in those countries. Consumer Genius was recently named Canada’s 17th fastest growing company by Report on Business TV and the Globe and Mail, and Canada’s 4th fastest growing technology company by Maclean’s Magazine and the Canadian Business Journal.
As a digital provider, Loanz is also helping applicants maintain social distancing. Consumers will be able to use Loanz contact-free service to apply for loans without leaving the comfort and safety of their homes, allowing consumers to obtain what they need, without having to step foot in a bank, office building, storefront, loan shop or similar, and all loans or services that you apply for through Loanz will be processed digitally. Loanz is available in Canada and has been active in the United States since 2015.