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Potential Lenders

Sources

Family and friends

  • Advantages: To get a small amount quickly (ex.: to buy clothes, a DVD, etc.).
  • Drawbacks: The relationship with your family member or friend could fall apart if you don’t pay back your loan as initially agreed. Remember that fair and square keep friends together!

Caisse populaire

  • Advantages: To borrow a large amount of money (ex.: to buy a car, go to school, etc.).
    Low interest rates usually available.
  • Drawbacks: You have to pay back your loan within a set time frame. If you do, you get a better credit rating!

Other (ex.: quick cheque cashing service centres)

  • Advantages: None
  • Drawbacks: These establishments often charge high fees or lend you money at very high interest rates.

Find out more

To find out about the interest rates contact your Caisse populaire.

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