Last updated: September 15, 2026
These Terms of Use govern your use of BorrowNow.ca (“BorrowNow”, “we”, “us”) and the loan-matching service offered on it. By using the website or submitting an application you agree to these Terms. If you do not agree, please do not use the site.
1. What BorrowNow is, and is not
BorrowNow is a free online loan-matching service. We are not a lender. We do not offer loans, make credit decisions, set interest rates or fees, or fund any loan. When you submit an application, we send it to one or more licensed lenders in our network, and any loan offer, approval, contract and payment arrangement is between you and that lender.
Submitting an application is not a loan application to any specific lender and does not guarantee that you will receive an offer, be approved, receive a particular amount, or be funded within a particular time. Approval and funding times depend on the lender and on your circumstances.
2. Eligibility
To use the service you must be at least 18 years of age (19 where your province requires it), a resident of Canada, have a regular source of income and hold a Canadian bank account. Lenders may have additional requirements.
3. How we are paid
You never pay to use BorrowNow. Lenders and referral partners pay us a referral fee when we send them an application or when a referred application results in a funded loan. This compensation may influence which lenders receive your application. It does not change the price of any loan you are offered, which is set by the lender and disclosed to you before you sign.
4. Cost of borrowing
Every licensed lender must show you the total cost of borrowing, the annual percentage rate (APR) and the repayment schedule before you accept a loan. In Canada, the maximum lawful interest rate on most consumer loans is a 35% APR, and payday-style loans are capped at $14 per $100 borrowed where that product is permitted. As an illustration only, a $500 loan repaid over three months at the federal maximum rate costs roughly $25 to $45 in interest, and a $300 payday-style loan at the $14 per $100 cap costs $42, for a total repayment of $342. Actual costs are set by the lender and vary with the amount, term and your province. Payday-style products are not offered in Quebec.
5. Borrow responsibly
Small-dollar loans are for short-term needs and are among the more expensive ways to borrow. Borrow only what you can repay on time. Missed payments can add fees and interest and affect your credit. If you are struggling with debt, a non-profit credit counsellor or your provincial consumer protection office can help, and the Financial Consumer Agency of Canada publishes free guidance on comparing loan costs.
6. Your application and consent to be contacted
You agree that the information you submit is accurate and belongs to you. By submitting an application you authorize us to deliver it to lenders and referral partners in our network and to contact you by email, phone or text message about it. Lenders that receive your application may contact you directly and, with your consent at their stage of the process, verify your identity and income and review your credit file. You may withdraw consent to marketing messages at any time using the unsubscribe link in any email or by emailing us. Withdrawing consent may mean we cannot complete your request.
BorrowNow will never ask you for your online banking username or password, and neither we nor any legitimate lender will ask you to pay a fee before you receive a loan. If anyone claiming to represent us does so, do not pay and report it to us and to the Canadian Anti-Fraud Centre.
7. Information, not advice
Guides and articles on this site are general information for Canadian readers. They are not financial, legal or credit advice and do not take your personal situation into account. Figures such as fees, rates and funding times are illustrative, may change, and are always superseded by the terms a lender gives you in writing.
8. Intellectual property and acceptable use
The content of this site is owned by or licensed to BorrowNow and is protected by Canadian copyright law. You may view and print pages for personal use and may link to our pages. You may not copy, scrape, frame or republish our content, submit false or another person’s information, interfere with the site, or use it for any unlawful purpose.
9. Third-party sites
We link to lenders, government agencies and other third parties. We do not control those sites and are not responsible for their content, products or privacy practices.
10. Disclaimer and limitation of liability
The website and service are provided “as is” and “as available”. To the fullest extent permitted by law, BorrowNow disclaims all warranties and is not liable for any loss arising from your use of the site, from any loan or lender decision, or from any content on third-party sites. Nothing in these Terms limits rights that consumer protection laws in your province give you and that cannot be waived.
11. Changes
We may update these Terms and the service at any time. The date at the top shows the current version. Continued use after a change means you accept the updated Terms.
12. Governing law
These Terms are governed by the laws of Canada and the laws of the province in which the operator of BorrowNow is established, without regard to conflict-of-law rules. Consumer protection rights in your own province continue to apply.
13. Contact
Questions about these Terms: info@borrownow.ca. See also our Privacy Policy and How We Work and Advertiser Disclosure.