As we continue to help as you work toward making financial progress, Credit Karma can now help you shop for personal loans!
How does it work?
Click Loans at the top navigation bar on Credit Karma. A new tab should open up, taking you to the LoanConnect website*, where you’ll be asked to fill out a quick application about your financial situation.
Upon submitting this initial application, you’ll receive any loan offers based on the information you included in the application. Then, you can select the loan offer that you’re interested in and go to that lender's website to formally apply for the loan.
*Once you leave the Credit Karma site and are on the LoanConnect site, we won't be able to track the status of any applications you've started or see the offers you receive.
What is LoanConnect?
LoanConnect is a Canada-based online loan search engine . By partnering with various lenders, LoanConnect can connect borrowers with multiple credit options to help Canadian consumers make an educated choice that suits their needs.
Will applying affect my credit scores?
Filling out the initial application on the LoanConnect website and viewing any eligible offers will not affect your credit scores.
But if you select a loan option and apply through a lender, the lender may pull your credit as part of the application process. This is known as a hard inquiry and may lower your credit scores.
What are the requirements to apply for a loan through LoanConnect?
In order to apply you must be age of majority in your province of residence and be a Canadian Citizen or Permanent Resident.
What type of loans do LoanConnect lenders offer?
LoanConnect works with a variety of lenders who cater to a range of markets. With everything from small short-term loans, long-term installment loans, and open-ended lines of credit, LoanConnect’s lenders offer loans that range from a minimum of a few hundred dollars into the thousands.
Can I fill out the LoanConnect application to see my offers but not choose a loan?
Yes, you are not obligated to select a loan after you’ve filled out the LoanConnect application.
If you have any questions about the LoanConnect application or any loan offers you receive, you can reach out directly to LoanConnect at email@example.com.