Did you know: 47% of Canadians live paycheque to paycheque? Many have no way of financially handling an unforeseeable expense. When tragedy strikes: divorce, a death in the family, or a protracted illness; these otherwise good people have nowhere to turn. These individuals don't fit into the big-five banks' mold for loans.
That's where we step in and where the opportunity exists for you as an investor.
We give Canadians a second chance at credit through consumer loans and financial education.
Our strict underwriting process is technologically advanced and qualifies low-debt load, high job-stability individuals for loans they would otherwise not be eligible to receive from the big five banks.
The fixed income bond offering has been structured to providing investors an opportunity to generate a measurable social impact for credit Canadians challenged while also generating significant a financial return.
As an online lender we leverage data and technology to more accurately and efficiently originate, underwrite and managing our growing portfolio while reducing the risks and costs traditionally associated with this type of loan.
Loans are protected against job loss, critical illness, death, and disability by mandatory loan protection insurance, resulting in high-value, long-term financial relationships.
Loans are funded through the sale of fixed income bonds that pay you up to a 12% fixed rate, and are RSP, RESP, and TFSA eligible investments.
As an investor you provide much needed funds that we then loan to reliable borrowers to repair their financial health. Borrowers then pay their loans back and you earn a return like clockwork.
Progressa is the brainchild of a team of experienced individuals who have successfully founded and continue to operate several companies in the alternative finance space.
We have already established a strong track record for our investors, paying out hundreds of thousands of dollars in interest payments to fixed income bond investors since July of 2013.
Our bonds offer up to 12% in fixed interest income.
Remember however that this is a closed opportunity with a limited investment goal, once the targeted funds have been raised, the offering will be closed.
Download our Investor Kit now for more information. After you download the summary and term sheet you'll have an opportunity to speak with a Progressa team member who can help answer any questions and help you with next steps should you choose to learn more.
Information is coming soon for institutional loan buyers. Please email firstname.lastname@example.org for further information.
The following documents may be required to process your loan.
Please Read Before Signing: As a condition of Progressa lending me money based on the information provided above, I make the following representation: I am not contemplating filing for bankruptcy within the next 6 months and have not consulted with an attorney or trustee concerning bankruptcy in the last 6 months.
Please note that Progressa does not currently lend to or solicit business from U.S. residents or residents of countries other than Canada. Please note that Progressa does not ever request a security deposit in exchange for processing a loan. Should you receive any such calls or requests, please contact our support centre at 1-855-723-LOAN.
To protect both you and us, we use certain services provided by third-parties to help decide whether to accept transactions from personal computers, mobile phones, or other devices. The third-party service checks whether these devices have been identified with fraudulent or abusive transactions in the past, such as reported instances of identity theft, account takeovers, or malware attacks. For this purpose, a cookie file, flash storage token, or other code file may be placed on your device to identify it in the future when you visit our website or connect with our applications. On connection with our site or service, we will transmit that device identification code to the third-party's server, along with data concerning certain technical attributes of your device such as the model, operating system, and browser version, as well as the IP address, all of which are used to confirm device identification. The third-party's server responds with a code recommending that transactions be accepted, denied, or reviewed, according to settings we have selected. We also report to the third-party if we conclude that a device has been used in connection with a fraudulent or abusive transaction with us. If you set your browser or device to reject these cookies or tokens, you may not be able to conclude some transactions through our website or application. We share with the third-party referenced above only information about the device you are using, which may also have been used or appropriated by others, and do not identify you or reveal the details of your transaction to that third-party. If you have questions about this please contact Customer Service.
Purposes for Which Progressa Handles Personal Information
Progressa collects and uses personal information for purposes limited to those which are related to its business, which includes only providing financial services. We collect personal information primarily from you, for instance through applications and supporting information and documentation you provide. We may also collect personal information about you through your ongoing interactions with us, from references, employers and other financial institutions you have identified in your application as well as credit bureaus,your bank account, and other third party sources. For example, we may collect personal information from credit bureaus for the purposes of locating you to collect outstanding debts. In connection with loan agreements, we may also collect personal information from credit bureaus in order to verify your current and ongoing creditworthiness and other information you may provide to us.
We may collect personal information for purposes such as the following:
Personal Information Progressa Collects
Progressa limits the amount and type of personal information collected to that which is necessary for our identified purposes, and we collect personal information by fair and lawful means.
Personal information that we collect includes:
Transfers and Disclosures of Personal Information
Progressa may disclose personal information in a number of circumstances, including:
In addition to the above, personal information may be shared between Progressa's affiliates for internal audit, management, billing or administrative purposes including defending and bringing legal actions.
Progressa may also use and disclose personal information in connection with the proposed or actual financing, securitization, insuring, sale, assignment or other disposal of all or part of Creditloans or our business or assets (including your loan), for the purposes of evaluating and/or performing the proposed transaction. Assignees or successors of Progressa or our business or assets may use and disclose your personal information for similar purposes as those described in this Policy.
Progressa may disclose your personal information as necessary to meet legal, regulatory, insurance, audit, and security requirements, and as otherwise with your consent or as permitted or required by law.
Progressa uses safeguards and other security standards to ensure that all personal information in its custody and control is protected against loss or theft, as well as unauthorized access, disclosure, copying, use or modification, regardless of the format in which the information is held. Safeguards will vary depending on the sensitivity, format, location, and storage of the personal information. Authorized employees, agents and mandataries of Creditloans who require access to personal information to fulfill their job requirements will have access to personal information.
Access and Accuracy
Progressa may establish and maintain a file containing an individual's personal information for the purposes described above, which will be accessible at our offices. Individuals have the right to request to access to or correction of their personal information that is held by Progressa. Requests must be made in writing, addressed to Progressa's Privacy Officer. We will respond to written request within a reasonable time (generally within 30 days). Provision of copies of records containing personal information may be subject to a fee. We will use our best efforts to ensure that personal information is accurate, complete, and up-to-date. If an individual successfully demonstrates the inaccuracy or incompleteness of personal information, we will amend the information as required. If we refuse access to personal information or disagree with an assertion that information held by us is incorrect, Creditloans will provide a written explanation for such refusal. An individual's right to request access to or correction of their personal information is subject to applicable legal restrictions. We may take reasonable steps to verify your identity before granting access or making corrections.
Progressa's Websites and E-Mail Communication
Progressa does not guarantee the confidentiality of any communications made by you via e-mail or otherwise through our websites. If you wish to provide information of a confidential or sensitive nature to Progressa, please contact us directly by telephone to arrange for delivery/transmission of such information by secure means.
In certain circumstances, as permitted or required by law, we may collect, use or disclose personal information without the knowledge or consent of the individual. These circumstances include but are not limited to: personal information that is publicly available as defined by regulation; where collection is clearly in the interests of the individual and consent cannot be obtained in a timely way; where disclosure is made for the purposes of collecting a debt owed to us; or to comply with a subpoena, warrant or court order.
Inquires or Further Information
Attention: Privacy Officer
Creditloans Canada Financing Inc. dba Progressa
2000 - 1500 W. Georgia Street,
You may also reach the Privacy Officer by calling the Company's toll-free phone number 1-855-723-5626 (LOAN) and reaching the corporate head office by pushing option 4; alternatively, the Privacy officer can be reached at: email@example.com
1 - During regular business hours, we are typically in touch within 1-2 hours of your documents being received. If you are unsure whether your documents have been received, please call our toll-free number.
2 – Progressa will pay your bills according to the disbursements page of your executed loan agreement.
3 – Loans interview are subject to availability of loans advisors and regular business hours. A phone interview can range between 5 minutes and 30 minutes depending on the complexity of your financial situation. Further documents may be requested from our loans advisors, including proof of income, address, and tax return information.
4 – Melissa is a testimonial advertisement. The story is based on actual customer experience, however, her personal information has been changed to protect customer privacy.