How Micro-Loans Work

Please find below all the information about quick online loans.

Eligibility Criteria

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To be eligible for our
loans, you must:

  • Be 18 years or older
  • Hold a stable job for at least three months
  • Be paid by direct deposit
  • Earn a net income of at least $1,200 per month
  • Not be in the process of or about to file for bankruptcy or consumer proposal
  • If you are self-employed, you must have an income proof (pay stub)
  • Be a Quebec resident

Fast request

1. Fill out the loan application form
2. Connect securely with your bank to send us your bank statement below
3. Take a picture of the following three documents, e-mail them to documents@credit24.ca or drop them directly to your Customer space when activated

  • Your last pay stub
  • Proof of identity (driver’s license, health insurance card or passport)
  • A cheque specimen or authorization form for automatic withdrawals at your financial institution
My bank credentials: who handles them, and why?
Why: your bank credentials are necessary to authorize a secured connection between your bank account, and your Credit 24 account.

In turn, that connection is what allows you to receive the full Credit 24 experience.

Who: Flinks

Flinks is a Canadian FinTech company that creates the secure connections between non-banking, and banking platforms, to allow companies like Credit 24 to bring innovation to Canadian consumers.

How secure is Flinks?

The quick answer: very, very, very secure.

The medium answer: security is, to most, a topic that quickly becomes too technical to fully grasp, but even to those of us that are not too nerdy, the point to remember is this: when it comes to security, Flinks does not meet standards, it flagrantly surpasses them.

The longer answer:

What does ‘flagrantly surpass’, or ‘very, very, very secure’ looks like?

  1. Twenty seven thousand times more secure.

Market standards have an average API encryption key rotated every 18 months ; Flinks rotates Credit 24 encryption key every 15 minutes, or 1,500 times a month, or 27,000 times more often.

  1. Daily Penetration-testing (pen-testing)

Most large firms conduct what is called ‘penetration-testing’ (an aggressive security audit by an outside firm), every 3 or 4 months. Flinks conducts pen-testing every day, on 100% of its cloud assets.

  1. State-of-the-art cloud environment

Today, cloud environments are more secure than any type of environments. Flinks is using only the industry’s best practices on all aspect regarding data communication. 

Why people trust Flinks?

Flinks’ is the leading bank gateway in the Canadian financial industry. Flinks’ solution is trusted by both FinTech companies, and financial institutions.

Everyday, tens of thousands of Canadian consumers are connecting their bank account to their favourite financial application using Flinks’ technology.

Non-urgent request, documents to provide:

Documents to provide:

  • A bank statement for the past four weeks
  • Your last pay stub
  • Proof of identity (photocopy of your driver’s license, health insurance card or passport)
  • A cheque specimen or authorization form for automatic withdrawals at your financial institution
  • Proof of residence of 30 days or less (a deed, tax statement or an invoice from a telephone or electricity company)

Paying Back Loans

Since we understand your situation, we offer the possibility of spreading out your payments over a period of up to 16 weeks based on the money you have coming in. You will have a minimum of 90 days to pay off your personal micro-loan.

Evaluating Your File

All applications undergo an analysis process to confirm that the borrower can pay off the requested loan. This includes, but is not limited to:
Checking that your monthly salary is sufficient to pay off the loan

Identifying fees for insufficient funds in your account

Determining the amounts of other commitments, including those with other lending companies and validating the capacity repayment

If our evaluation is positive based on these criteria,
your application will be ACCEPTED.

Missed Payments and Credit Ratings

Any withdrawal refused by your institution, for insufficient funds or for any other reason, will be postponed to the end of the anticipated term and shall entail a $40 fee; this fee will be added to the balance due and shall bear interest at the same rate as the original loan. However, this will not affect your credit file, and it will not be reported to credit agencies.
If you need to postpone a payment, you must call our offices 48 hours ahead of time. This postponement will entail a $25 fee, and the payment will be postponed to the end of your contract. The loans paid back on time will assure excellent service for future renewals.

Responsible Collections

Our company uses collections practices that comply with the legal provisions in effect in Quebec. If you are having problems making your payments, call us. We can help you in different ways (postponing payments, reducing payments, and other means at our disposal). We will do everything in our power to prevent your debt from being transferred to a collections agency.
Unrecoverable loans shall be sent to a law firm or a collection agency who will use all legal means at their disposal to recover the money owed. It is strongly recommended that the borrower do everything possible to avoid this situation.
The balance due at that moment, which may include fees for refused withdrawals or postponed payments, continue to bear interest at the same rate as the original loan. Collection fees may also be added (see “Our Rates” section).

Money problems?

Credit problems?

We’re here for you.

Contact us to get a loan quickly and safely.

Online requests accepted 24 hours a day 7 days a week!

Get a loan