Introduction
Nova Scotia is home to almost one million people and is the second most densely populated province in Canada. The cost of living is soaring here just like anywhere else in the country, with the living wage estimated at $26.50 per hour in Halifax and $22.85 per hour in Cape Breton. There is no place in the province where the living wage matches or falls below the minimum wage, which is just $15.20 per hour. Many Nova Scotians are struggling with skyrocketing grocery prices, high gasoline prices, and expensive housing, including both mortgage payments and rent.
See How a Personal Loan in Nova Scotia Can Help
When you’re stuck without cash in between paydays, a personal loan in Nova Scotia can provide the financial assistance you need. Unlike simply getting to the next payday with payday loans, personal loans offer the benefit of a longer repayment term. Simply fill out a quick online application at LendProConnect and get connected with online lenders across Nova Scotia.
How to Qualify for Personal Loans in Nova Scotia
The following items are required to get personal loans in Nova Scotia:
- You must be 18 years of age or older
- You must be a Canadian citizen or permanent resident
- You must provide proof of income
- You must have a permanent address
- You must have a valid Canadian bank account that has been active for at least 90 days
The following tips will help you get that personal loan in Nova Scotia as well:
- Minimize NSF transactions
- Minimize active payday loans or short-term loans
You also need one of the following sources of income:
- Employment income
- Self-employment income
- Financial government assistance
These tips should help you get that personal loan in Nova Scotia in no time!
Qualifying for Personal Loans in Nova Scotia – Instant Bank Verification (IBV)
In order to verify your banking information and application details, online lenders may use an instant check called Instant Bank Verification (IBV). This will help ensure that the funds go to the correct person.
How to Regain Financial Stability in Nova Scotia
Economic times are tough right now. If you are struggling, remember that you are not alone! Most Canadians – 71% according to some polls – feel that the cost of living exceeds their income. There are multiple different strategies you can use to help you overcome financial obstacles in Nova Scotia.
- Follow a budget. Statistics show that Canadians who use budgeting manage their finances more effectively than those who are too time-crunched to do so. Pick a budget plan like the 50/30/20 plan, whereby you spend 50% of your income on necessities, 30% on wants, and 20% on saving and paying off debt.
- Increase your income. This can be tricky, but you may wish to retrain for a new career or ask for a raise at your current workplace. Retraining for a new career doesn’t have to be difficult. You can simply take online courses or attend online bootcamps, which can last as little as a few weeks or months and may serve as useful credentials when applying for a new job.
- Consider debt consolidation. If you’re stuck paying multiple different debts, consolidating your debt may help you focus on a single monthly payment at a lower overall interest rate instead of stressing out about multiple payments to different creditors.
- Reduce unnecessary expenditures. This may include dining out less often and cooking your own meals more often. You can try meal prep as well – preparing your meals in advance, thus reducing the temptation to dine out.
It may also help to keep track of your credit score with Credit Verify! Register online today. It only takes a few minutes.
Obtain a Personal Loan in Nova Scotia Today
Need a personal loan in Nova Scotia? Apply online with LendProConnect! We will connect you with our network of online lenders across Canada in an instant. You will get an immediate response. The application is quick and easy and takes only a few minutes. Apply online today.
