LoanExpress.ca Review: Seems a Reliable Lender but Too Many Details are Hidden

What is LoanExpress?

loan express logo

LoanExpress.ca is an online lender offering payday loans across Canada for about 10 years. They claim to know how to get you a fast cash advance from any place of the country. They offer loans instantly, without having to visit any stores and talk to managers in person. According to them, when you borrow through this website, you are borrowing from one of the most trust online lenders in Canada.

Loan typesMin.amountMax.amountPeriodAPRDocumentsBad credit
Payday loans$100Not specified7-30 daysDetermined individuallySocial Insurance NumberUnknown

Types of Loans

LoanExpress.ca offers payday loans – short-term sums that are repaid on your next payday.

loans

Upon approval, the funds will be sent in minutes. They may be delivered via email money transfer, direct deposit, or deposited into a virtual wallet account.

Terms of Use

The minimum loan amount is $100. The maximum amount is not specified anywhere on the website but it’s usually $1,000.
To get a loan through LoanExpress.ca, you need to comply with the following criteria:

  1. be at least18 years of age;
  2. have a stable verifiable income for a minimum of 2–6 months that is on Direct Deposit;
  3. have a bank account which is active for at least 30 days.

The company specified types of income that are eligible for a payday loan: employment, child tax credit, disability, pension and most other state benefits that are paid regularly.

The maximum cost per every $100 borrowed is $15, for example, if you are approved for a 2-week $500 loan, you will have to repay $575 in total.

The lender claims there are NO hidden fees.

Application

According to the website, an application process is short and simple. They say you only need to enter some personal details in a 1-page form, click “Submit” and wait for the decision.

apply

Bear in mind that in addition to personal and income information, you will need to specify 2 references.

Applicants don’t have to fax any documents. Besides, existing clients can get a fast access to their personal accounts and proceed to loan application immediately.

If you are not comfortable applying through the website and would like to talk with one of the Loan Express managers, you can call at 1-800-973-8033.

Repayment

Payday loans online are repaid within 7-30 days on the due date which is determined individually for each customer so this date will be next to the day you receive a salary.

On the agreed upon due date, the funds (original amount + interest) is withdrawn by automatic direct debit from the client’s bank account.

Late-payment /non-payment fees and charges are not indicated so you’d better discuss them before signing any documents. I suspect that repayment failure will negatively affect your credit score.

Extension

It’s not mentioned on the website whether LoanExpress.ca allows loan extensions or not. You’d better learn their extension policies before signing any documents.

They do, however, mention that they do not lend out more than one payday loan per person at a time, but once you have repaid your loan, you may be eligible for another loan. But if you live in Manitoba, you will have to wait 7 days from the date of loan repayment.

This lender does not reject a client who has current loans with other loan companies.

LoanExpress.ca Bad Credit

The company did not mention whether applicants with bad credit score can qualify for a loan. Typically, payday lenders offer loans to all consumers regardless of their credit history. Loan approval is usually based on a client’s ability to repay the loan rather than on his credit history. Of course, you should specify this information before applying but I suspect you can get a loan even if you have bad credit or no credit provided that you have a stable and verifiable source of income.

Technical Characteristics of the Website

Сonnection

When you apply online for a loan with LoanExpress.ca, all your sensitive information is kept confidential and secured with a 256-bit Secure Socket Layer, verified by GoDaddy.com, Inc:

encryption

A 256-bit encryption is considered the latest security software which indeed can provide users with online security, but I’d advise that the lender utilize an Extended Verification Certificate, which is considered the highest possible encryption.

Mobile Version

This website has a mobile version (confirmed by Google Mobile-Friendly Test), so it can be easily accessed from both a computer and a smartphone.

mobile

In general, the mobile version repeats the main one but is reduced. It has a single column so that it is convenient to use this site on smartphones and tablets. The mobile version has only basic user functions, and the user can comfortably move around the entire site, search and find all the necessary information there. Everything is incredibly clear, and the mobile version of the site, in fact, serves only as a special layout that can be viewed on different mobile devices. The design is adjusted for users with the screen resolution. Different versions are made for tablets and phones that would make the use of site content more efficient.

The mobile version has many important advantages, including:

  • High-speed operation. This can be explained by the fact that the pattern is fully customized for use on mobile devices, and high speeds can be achieved even with poor communication;
  • Convenience for ordinary users. This mobile website does not have any unnecessary functions that are not needed in the mobile version;
  • Ability to go to the desktop version of the site. This is important for users.

Antivirus

Regretfully, LoanExpress.ca does not utilize an antivirus program, which means you are not protected from numerous online viruses and malware programs. Modern viruses can even steal your sensitive personal details you submit to the website. I would recommend that the website’s developers pay more attention to the site’ security issue.

Convenience of Use

The lender offers 2 convenient ways to apply for a loan. You can fill out a short application form or can call them at 1.800.973.8033 and they will help you with your application and answer all your questions.

When applying online, you should, first of all, select your location (9 provinces):

select a location

After that, you will need to specify whether you are a new client or an existing one. Once finished, just click on “Apply Online Now”, and let the lender guide you through a loan application.

log in

You will need to provide your basic personal information (name, address, phone number, email, SIN and so on). Unlike other many payday loan companies, LoanExpress asks that you specify 2 references. If approved, the funds will be sent in minutes. You can see a 1-page loan application below:

application

I like that the website has an FAQ section but dislike that the lender requires to provide 2 references. Not all people will find this convenient.

Is LoanExpress.ca Legit?

ScamAdviser is completely satisfied with Loan Express legitimacy. The website was given a 100% trust-rating, which means it is legitimate and safe.

scamadviser

According to the report, the website is based in Canada and has been active for over 7 years. Although the site is rarely visited, Scam Adviser has no doubts about its reliability.

LoanExpress.ca Reviews

On-site Reviews

The native website of the lender contains no Loan Express reviews. A testimonial page does not exist and there is no feedback form which can be used in the case you have something to say about this company.

Since the reputation of this online service remained unconfirmed, I decided to search for any comments posted on independent third-party websites.

Reviews on Third-Party Websites

I found only 5 customer reviews posted on independent websites such as TrustPilot.com. Marshon said he was able to get the money quickly and the application was simple. Randy Johnson wrote that Loan Express was a decent company – he used their services a few time and was always able to get the funds within a few hours.

good reviews

However, the number of negative reviews was overwhelming – 3 users reported their dissatisfaction with the services provided. One of the users was disappointed because this company will not loan to you if you work in the same industry. Another client was declined because he earned only $450 a week – he would have been approved if he earned at least $800 a month.

bad reviews

Although I found some Loan Express complaints on the net, they are all about loan rejections – this is a common practice and no lender can approve 100% of clients. I conclude that the website is legit because I found no evidence that it’s operating illegally.

Customer Support

Contact Information

Loan Express presented a comprehensive contact information of its website:

  • Email – help@loanexpress.ca
  • Phone number – 1-800-973-8033
  • Fax number – 1-800-973-8233
  • Mailing Address – PO Box 1828, Mackenzie, BC, V0J 2C0
  • Physical Address – #9 – 600 Mackenzie Blvd, Mackenzie, BC
    V0J 2C0

LoanExpress.ca Locations

LoanExpress.ca is operating all across Canada. You will be able to get a payday loan if you reside in Alberta, British Columbia, Manitoba, Newfoundland & Labrador, Northwest Territories, Nunavut, Ontario, Saskatchewan, Yukon. Bear in mind that rates and terms in different states may vary.

Getting a Consultation

If you have any questions, concerns, suggestions, comments, or just want to talk with a manager of this company, you can call 1-800-973-8033. You can also email specified on the site. Customer support team promises to answer your request as soon as they receive it. According to the website, the customer care department is operating 24 hours a day 7 days a week.

phone number

I tried to reach the lender’s representative by sending an email to the listed address but did not receive any feedback within 24 hours. Tired of waiting, I have to conclude that their customer service is not as top-quality as they say.

Conclusion

LoanExpress.ca seems to be a legal lender operating all across Canada for over 7 years. I like that they send funds very quickly. The company has standard qualifications and informs clients about their interest rates in advance. The lender has a few reviews on the net but none of them indicates that this service is illegal. Some customers may be confused due to the fact that they are required to provide 2 references. Besides, there is no information about bad credit, late payment fees, maximum loan amounts and extensions. So, the website seems a good option but there are too many hidden details that you need to specify before applying for a payday loan.

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