Fig Financial is a financial institution that offers easy and fast personal loans. With available amounts up to $35,000, Fig Financial is an online direct lender that offers unsecured personal loans to prime borrowers. It launched in Canada in 2023, but the company that owns Fig, Fairstone, has been in business for many decades, making it a completely secure and reliable platform for you who are looking for extra cash in emergencies or to fulfill dreams. Its application process is completely online, so you won’t ever need to step foot into a branch to get your loan. In this post, we will explain in detail how it works and how you can apply for your loan from the comfort of your home, without having to worry about thousands of papers or bureaucratic processes.
What is Fig Financial?
Fig Financial is a wholly-owned subsidiary of Fairstone Financial Inc., which is in turn a part of Fairstone Bank of Canada. Fig operates as a subsidiary of Fairstone Bank, benefiting from their extensive lending history. Fig offers a range of loan options for various needs like debt consolidation, big purchases, or extra funds. A major differentiator is the rates charged on the offered loans: rates as low as 8.99%, making it an excellent option for you who don’t want to pay very abusive amounts in interest on your loan. Fig offers online installment loans to people with good to excellent credit, and is also a financial institution specializing in short-term installment loans and lines of credit. Fig personal loans are a solid choice for borrowers who might not be eligible for other loans due to a poor credit history. The best personal loan for you depends on your credit score, which will determine what you qualify for and can lower your rate. Loans are unsecured with terms of up to 60 months, and the application and approval process is completely online.
Fig Financial: Personal Loans as Easy as 1, 2, 3
Fig is uniquely backed by Fairstone Bank and developed in collaboration with Koru, a groundbreaking venture studio owned by the Ontario Teachers’ Pension Plan. For this reason, the release of approved amounts follows the same rule as other financial institutions: after receiving your approval, funding in as little as 1 business day. With various loan options that cover from moving costs, to health scares, to unexpected vet bills, even savvy savers can’t plan for everything. A Fig personal loan is there for life’s unexpected expenses, no matter when or what you need it for. Whether it’s a new car for your growing family or a much-needed vacation, a personal loan can offer the financial freedom to make it happen without huge changes to your daily spending.
What Are the Benefits of Taking Out a Loan Through Fig Financial?
Fig Financial offers numerous benefits for those who take out personal loans through the platform. It’s good to emphasize that a personal loan can help you consolidate high-interest credit cards and debt, meaning more money in your pocket. Pay off just one loan balance with a fixed interest rate and monthly payments, plus pay your remaining balance anytime with no repayment fees. For those who choose Fig Financial to apply for a loan, you have exclusive benefits such as:
- Easy online application. It’s quick and easy to apply for a loan from Fig online in a matter of minutes.
- Online pre-approval. You can get instant pre-approval for a Fig loan online.
- No security required. Fig offers unsecured installment loans, so you won’t need to put any of your assets at risk to qualify for a loan.
- Flexible payment schedule. You can choose a weekly, bi-weekly or monthly loan payment schedule to suit your income frequency.
- Early repayment allowed. You can pay your Fig loan off early without incurring any extra fees.
- Backed by Fairstone. Fig is backed by Fairstone Financial, which is BBB accredited and has a long history in Canada.
- Support available in French. You can access support in French rather than English if preferred.
- No monthly fees. Fig does not charge any monthly fees while you pay off your loan.
- Refer and earn $50!
Ready to Apply for Yours?
Fig offers flexible installment loans and an easy online application process to prime borrowers. It’s worth considering when you have a strong credit score but you don’t want to apply to a bank or credit union. Loans may take up to two business days, so if you need money sooner than this, explore other lenders. Therefore, if you want to apply for your loan, just click the button below and we will explain the step-by-step process and all the eligibility criteria for you to get yours!