Fairstone – Personal Loan

Fairstone Financial is one of Canada's largest non-bank personal lenders, with roots going back to 1923. Headquartered in Montreal and operating over 240 branches nationwide, Fairstone specializes in serving Canadians who may not qualify for loans at traditional banks, including those with fair or imperfect credit. Fairstone is owned by Sagen MI Canada (formerly Genworth Canada) and has built a reputation for accessible lending with transparent terms.

Fairstone offers unsecured personal loans from $500 to $25,000 and secured home equity loans up to $60,000 with terms from 6 to 120 months. The APR on unsecured loans typically ranges from 19.99% to 39.99% annually, reflecting the higher risk profile of borrowers served. Applications are accepted online, by phone, or in-branch; pre-qualification is available online without affecting your credit score. Funds are often available within 1-3 business days of approval.

Fairstone is a licensed lender operating under provincial consumer protection regulations across Canada. While Fairstone's rates are higher than those of chartered banks, the lender offers a viable option for Canadians rebuilding credit or requiring emergency funds who would be declined elsewhere. Always calculate the total cost of borrowing before signing, and consider whether paying down the loan early (permitted without penalty) makes financial sense given your budget.