Frequently asked questions.
The essentials for partners and consumers. Final criteria, amounts and practices are confirmed in each program agreement.
Does SureNorth lend directly to consumers?
No. SureNorth works through partner financing companies. The lender identified in the program documents receives the application and provides financing when it approves the request.
Can a consumer apply on SureNorth.ca?
No. The website directs consumers to the financing company that presented the program. The SureNorth contact form is for business partners.
What is personal loan surety?
It is SureNorth’s contractual commitment to a partner under the program terms. It does not release the consumer from the obligation to repay.
Does surety guarantee approval?
No. The lender and SureNorth apply their respective criteria. A file may be approved, conditionally approved, returned for documents or declined.
What income is accepted?
Eligible income varies by program. Employment, certain self-employment income and recurring benefits may be considered when they can be verified.
Will the lender check credit?
The lender may obtain a credit report or complete other checks with the required consent. The exact process must be explained to the applicant.
Are payments reported to credit bureaus?
This depends on the lender and product. The partner must state whether the account is reported, to which bureaus and how often.
Does the prepaid card improve a credit score?
Not automatically. A prepaid card normally uses funds already available. A separate credit product may establish history if the provider reports it to credit bureaus.
Who sets the rate and fees?
The lender, card issuer or applicable provider sets the costs related to its product. All applicable fees must be disclosed before the agreement is entered into.
Is SureNorth available across Canada?
Availability depends on partner agreements, products, and provincial or territorial requirements.
How does a company become a partner?
It provides contact information and a description of the proposed program. SureNorth then evaluates commercial, operational, financial and regulatory fit.
How can a consumer make a complaint?
The consumer should follow the process in the contractual documents. If the complaint concerns SureNorth, SureNorth’s own contact details and complaint process appear on the Complaints page.