I want to apply for a loan, but will it affect my credit score?
To check the rates and terms we can offer you, QUAD-FI conducts a soft credit check that will not affect your credit score.

If you decide to continue with your application, we will request your full credit report from one or more consumer credit reporting agencies, which is considered a “hard” credit check. This can have an impact on your score.

On the other hand, taking a loan and paying it off on time will contribute positively to your score.

We always ask for your permission before contacting third parties.

What type of information do you require?
Once approved, we need to verify your information with a few documents. If relevant, we’ll ask for your employment, assets, and academic records. These can be submitted easily and will be reviewed by our model, without any human bias.

What kind of rates do you offer?
We offer a choice of terms and rates. Generally, the longer you take to pay off the loan, the more interest you will pay – although your monthly payments may be lower.

Our interest rates for refinancing start from a minimum of 3%.

How do you calculate my rate?
QUAD-FI uses a unique model that incorporates several factors including alternative financial data and academic performance. This produces a tailored and uniquely accurate rate for each applicant.

Why are your rates so low, what’s the catch?
Our clients are invisible to credit markets – that’s why they can’t access affordable options. We create that option by making you visible. We use alternative data sources, like academic information and your whole financial picture, to reveal your true worth. We work with responsible lending partners to pass on the savings to you.

Do I need a co-signer?
Having a co-signer usually improves your ability to borrow. It helps here as well – but it is not required! We are one of the few lenders without this requirement, because of our unique approach to underwriting.

What are the fees involved?
We do not charge origination fees, payment processing fees or prepayment penalties under any of our loans. The only fees there may be would be associated with collecting defaulted loans (but we haven’t had any to date).

I hate filling forms online, how long is this process going to take?
Our application process is fast and simple – it takes only a few minutes to complete. You’ll know in minutes whether you qualify. Once you get your initial approval, just upload a few documents, sign the loan online and submit. We try to get you your funds within 48 hours.

I applied online and got the approval in seconds. Is this the final decision?
Congratulations on passing the first step! Please remember that the initial approval offer is tentative and subject to further processing. Once your documents are received and we have done our documentation check, you will receive the final answer. The final review very rarely leads to a withdrawn offer.

I applied but was rejected. Can I apply again? What are my chances of approval next time?
We encourage you to apply again, it won’t impact your credit score. Approvals are a function of the other applicants and of our available capital. Keep checking back, especially if conditions have changed.

Does QUAD-FI offer favorable payment terms while I’m in school?
Yes. Under all QUAD-FI loans to students, you do not have to make any principal payments up to the first 18 months of your loan. We want you to be able to perform your best and achieve your full potential while in school, rather than worrying about money. Of course, you are always welcome to make additional payments towards your loan at any time. At this time, we offer loans to students in the last two years of an undergraduate program, or who are enrolled in post-graduate studies.

Many loans charge you if you pay them off early.Does QUAD-FI charge prepayment penalties?
We promote financial security for our customers and celebrate when you can repay your loan earlier. At Quad-Fi, we don’t punish you for success.

When should I refinance?
Refinancing is a good solution for working graduates with a significant amount of personal debt and who are seeking to reduce their monthly payments. We offer competitive rates and flexible payment terms that fit your needs.

Apply online – it only takes a few minutes. The earlier you refinance at a better rate, the more money you can save.

Can I refinance my loans after graduation?
Yes. Once you have a loan with us, you are a member of the QUAD-FI community and we will be here to help you during school and after graduation. By refinancing with QUAD-FI, you can remain connected with the QUAD-FI community and have the opportunity to save money by leveraging your academic performance.

We use a unique risk-rating model, which incorporates several factors, including educational performance, and offers an accurate rate for each individual. We offer low interest rates and flexible loan terms to meet your needs.

Why should I refinance with QUAD-FI versus traditional lenders?
If you have a thin or stale credit file, or are new to the country, most banks won’t consider you for a loan. We’re different.

We use a unique risk-rating model, which incorporates several factors, including educational performance, and offers an accurate rate for each individual. We offer low interest rates and flexible loan terms to meet your needs.

What is the maximum and minimum amount I can borrow to refinance with you?
You may borrow a minimum of $2,000(CAD) and maximum of $50,000(CAD) from us.

I have consolidated my loans in the past, can I still refinance with you?
Yes. Absolutely. Anytime you can lower your rates, you save – we encourage you to apply for a QUAD-FI loan.