Our borrowers can apply for loans from $1,000 to $30,000 through a simple online platform and receive personalized quotes within seconds. Borrowers are funded in as little as 24 hours. The convenience and cost savings are a product of our proprietary algorithms that are better able to assess a borrower’s creditworthiness by looking at data beyond traditional credit metrics.
Grouplend is a product of the answer to a simple question: “How would you build a better bank, starting with a blank sheet of paper?” The answer looks nothing like the banks of today. It doesn’t employ the brick and mortar branch system, and it isn’t constrained by legacy systems. Modern technology allows us to operate on a platform that cuts out the intermediary, bringing together borrowers looking for loans with investors looking for a fair return on their money. This process is revolutionizing the way Canadians access credit, and is the latest example of modern technology disrupting an archaic industry that has failed to provide consumers with an experience that exceeds expectations.
1. The borrower completes the application online at grouplend.ca to receive their personalized quote. The application takes 2-3 minutes, it doesn’t affect their credit score, and the quote is returned to them instantly.
2. The borrower chooses to proceed with the loan offer and submits a few documents to us to verify their identity and income.
3. We conduct credit and fraud verification to ensure the borrow er’s identity is safe and protected.The verification process is usually completed within a few hours.
4. The borrower is funded as soon as the next day.
Below are some key points on our service which differentiate Grouplend from the banks, or any other providers in our space: