FAQs
Here are some frequently asked questions (FAQs) about Fernovo and its services.
Fernovo is a lead referral company that connects Canadians with a network of private lenders. We help users find loans, including personal loans, emergency loans, bad credit loans, and payday loans.
No, Fernovo is not a lender. We are a lead referral service that connects you with third-party lenders who may be able to offer you a loan based on your circumstances.
We help connect you with lenders that offer a range of loan types, including:
- Personal loans
- Emergency loans
- Bad credit loans
- Payday loans
The loan amounts available through our lending partners range from $100 to $15,00, depending on your financial profile and the lender's assessment.
Fernovo itself does not perform credit checks. However, the lenders in our network may perform a credit check as part of their assessment process.
Yes, many of the lenders in our network specialize in offering loans to individuals with bad credit. However, approval depends on the lender’s criteria and your current financial situation.
The loan approval process varies by lender. Once approved, some lenders may transfer funds to your account as quickly as the same day, while others may take up to a few business days.
To apply, simply fill out the short, secure form on our website. We will submit your application to our panel of lenders, who will then review your request and provide potential loan offers.
The interest rates offered by lenders in our network range from 1.99% to 46.96% APR, depending on the lender’s assessment of your credit profile and the loan amount.
Fernovo does not charge any fees to users for using our service. Any fees associated with the loan will be disclosed by the lender in the loan agreement.
Most lenders allow early repayment without any penalties. It’s best to check the specific terms of the loan offered by the lender.
Yes, Fernovo uses secure encryption to protect your personal information and ensure that your data is safe.
Yes, you can apply for a loan if you are self-employed. However, approval depends on the lender’s criteria and your ability to prove a steady source of income.
If you miss a payment, lenders may charge late fees or interest. In cases of continued non-payment, collection actions may be taken. Be sure to review the lender’s terms carefully before accepting any loan.