1. Private Lenders
Private lenders are usually made up of local businesses. They represent a scattered market across Canada. Many of them offer secured loans as well as unsecured loans. They can provide loans against a property, vehicle, or similar asset at reasonable rates.
2. Borrow from a friend or family member
Borrowing from a friend or family member is not always an easy thing, but sometimes it is a necessity. Given the current market uncertainty and the high costs generally associated with smaller loans, this option should not be ruled out.
3. Have you tried to apply to your bank?
Banks do not always mix with unsecured loans; however, if you need money to make a purchase, the bank could give you the money. In this case, the loan will be secured against the purchase you make (for example, a car or a snowmobile).
4. Do you have a certain home value?
If you have a certain home equity, it will be much easier to find financing. You can probably get a line of credit or a second mortgage in order to meet your monetary wants. You can even refinance your present mortgage to get easy access to the amount of money you need.
5. Do not necessarily opt for a loan
This is an option that many neglects. Alternatives to borrowing include getting extra hours of work, finding extra work, asking for an advance on your payment to your employer, liquidating things you do not need, you have many options. Do not exclude them!