Loan Away Reviews 

Do not waste your time with LoanAway. They engage in what feels like predatory data harvesting. I was pre-approved, and over a week, they dragged me along, asking for highly sensitive information stage by stage: personal bank statements, business bank statements, business license, and government IDs.

After all, their representative called me and explicitly confirmed that everything was approved and they were preparing the final proposal. They asked for one last document (my work permit), which I sent immediately. Minutes later, I received a generic, automated rejection email.

If I didn't meet their criteria, they should have told me on Day 1, not after taking all my private financial and business records under false pretenses. Their internal communication is chaotic, and they have zero respect for applicants' time and privacy. Avoid this sketchy company at all costs!

A couple of days ago, I applied for a loan because I really needed money for my business, but when I saw their email asking for a lot of strange information, it seemed like a scam where they use your private information for very unpleasant and bad purposes. It made me very sad and hurt, but I refused and didn't take the money from a place where they could cheat you even more, so I wish everyone the same. and avoid these scammers at all costs, because they will cause you so much pain that it will be difficult to recover mentally and financially.
I was contacted by Loan Away and received an email saying I was “pre-approved” for a loan. Before any real verification, they asked me to send a large amount of extremely sensitive personal information by email — including government ID, selfie with ID, bank statements, void cheque, employment details, references, and immigration status.

This immediately raised red flags for me. Legitimate lenders use secure portals and do not pressure people to send this level of personal and financial data through email.

Before sending anything, I decided to research the company. After reading many reviews across platforms, I noticed a very concerning pattern:

people being told they are pre-approved and then rejected after submitting documents

complaints about data collection without loans being issued

reports of aggressive behavior, credit damage, and predatory practices

extremely poor experiences once people actually take the loan

Because of this, I chose not to proceed and did not send my documents or money. I believe I avoided a serious mistake.

I am leaving this review to warn others — especially people who are under financial stress — to slow down, research carefully, and protect their personal information. In difficult times, companies should act with transparency and fairness. From what I observed, the system here feels predatory and morally wrong, even if parts of it operate within legal gray areas.

Please be careful and do your research before engaging with this lender.

The loan processing it’s about 2 days and remember the lawn process it’s a manual they will ask you to feed them all information manually by the email and just right now I finished from the loan application and finally she said do that and do that which just mean bad experience don’t even think about this agency always stay away 

Real bad experience overall. Some life stuff happened, they were the ONLY lender unwilling to participate in a debt managemenet program. Then they got fined three times the debt for illegal collection practices. Real scummy. At least they stopped calling once Consumer Protection wrote them a letter.

I love working with this company they have helped me with my financial needs.

I recently received a loan. It took longer than expected to get, but they gave me a loan when no one else would. My payments are reasonable. I haven't made a payment yet, as loan is new. I will update down the road.

Edit *Dec 13, 2025*
still a great company. They even re-did my loan without me asking. They offered an increase and lowered the interest of the loan.

Scam.They will inform loan is approved will collect all your documents for nothing.

This company is a big scam first ask R420 to and the R500 for a debi check and after receiving the money they now ask for more money because for delays in payment .....stay away from this company I wouldn't even give them a 1 star....the people that was helping me Sipho and Sonja makes alot of lot promise s and all off that was only lies.....a criminal case will be opened

Are you'rl based in South Africa
I had to pay R420
Now they want R500 rand

when i was turned down from a lot of places, loan away took a good chance with me , they helped me when i needed it the most, great friendly customer service and always willing to help time over time. This is why i stay with company!

If I could leave zero stars or a negative amount I would this place is a joke their ad states no refual guaranteed approval and yet they refuse 9 out of 10 people or something along those lines my experience is like they did even look at the application regardless when your ad states guaranteed approval or anything like that is known as false advertising or misleading leading info both which are illegal in Canada this is only two places if people actually look almost all are guilty of it the best part is they wait to get your bank info before they deny you its almost as if thats their goal is to obtain your bank info as for what I don't know but regardless it seems very shady id avoid both these places I can only imagine what dealing with them on a full scale would be like id rather almost be gut shot than deal with them if places like this were used accountable for things maybe stuff would not be going down the road it is like it almost seems if your a company that deals in money the rukes don't apply when they should apply in triple not doing that stuff is how people like Justin Trudeau come to positions of power we all know he can't even ride a bike let alone run a country to anywhere but into the ground

I was pre-approved and within 10 minutes received an email saying I do't meet the minimum requirements. How would they even know when i never sent them any documents etc. All I did was give them my name address and how much money i make

Spoke to Rowana today and she was friendly & efficient. Her customer service was exceptional. She was already staying past her shift by 10 min and she said she would stay later to do what I was asking of her. IShe also said it wasn't difficult for her as she loves her job. She offered to stay later to do this, I didn'task her to .She also gave me contact information without me asking in case I needed to contact her again .She also had a sense of humor as I told her she sounded like Betty, a friend of mine ...her reply was you can call me Betty if u like which made me laugh and ask her real name

They are bad company scamming people theyv called me threating

Really bad place. I keep sending them money on my loan and they aren’t counting it towards my loan at all. They keep saying I still owe more than I actually borrowed. I’ve sent large payments at a time and they said they don’t count unless I send my bank account information. Which I was recently instructed by my bank to close and not give out my information again due to being a victim of fraud. Even though I made payments arrangements with them and e-transfered the payments they are saying none of them are counting which is illegal. I’m pretty sure they are the cause of fraudulent transactions through my account they will be reported through everything. They are ruining my credit by constantly making hard checks on my credit file as well which is illegal

Sumati is awful with her customer service. Her team as a whole is under trained, and under performs. They had created a payment arrangement with me, and today I found out that I had a missed payment on my credit account due to my account being in arrears. These people do not care about you or your financial future, they just want to make as much money out of you as possible. Unlike other lending places, they are predators who do not explain situations to you, until it is too late.

1/10 service. Will not recommend for the future.

Aweful. Predatory loan. Tou will pay 4 times what you borrow. They are scammers and should be taken to court

I have had several loans with this company (always paid back early, and in full). I don't really know why I keep returning because this Company absolutely SUCKS!! Customer service is horrendous and they SCAM you every chance they get. Due to a brief layoff at work, I asked for loan forgiveness on a couple payments. They approved my request, only for them to call me 2 months later saying I owed them nearly $250 for the "missed" payments and NSF fees. WT... really? There's been countless other money grabs they've attempted. They take weekly payments from my account, but if a single payment is late/missed, they negatively report it on my credit bureau as a "30 day late payment". The positive is that they tend to provide installment loans for higher amounts (Up to $5,000) when many places top out at $1,500. If you can find an alternative, take it - and STAY AWAY FROM LOAN AWAY!!

Not even worth a star, very unproffesional, inconpetent, liars are just a few names I have for these clowns operating as loan away in Mississauga, ON. Michael Anderson (staff member) has no knowledge of what he's doing whatsover, he kept putting me on hold to answer my questions even then it wasn't clear. They are from another country & have no idea how business is done in Canada. I actually never contacted, they called me with a promise to call me back, no text, no messages or anything, just left hanging to wonder. I've emailed Michael a few times but no courtesy to even return an e-mail, scammers in my book. Do yourself a favor & look somewhere else as there are other options. I've never in my life dealt with such a company, it is disgusting to know they operate in Canada & screwing people but what goes around, comes around & I do beleive they will self destruct as their behavior will catch up to them eventually. They are located at 5060 Spectrum Way, unit 301 in Missauga ON. Local phne numbers are 226-210-4946 & 226-210-3697, representative Michael Anderson is not to be trusted as a human being. I will post these commnets on any site I can find to try & stop this company from operating in this country & proof of their shifty ways was successfull as the converstions were recorded from my phone as they recorded me as well. It works both ways.

The biggest fraud loan place they take advantage of people that have a a good heart and simple if u know what I mean stay the away from them thank god my bank frozen my account