Borrowell - Peer To Peer
(Which Way To Pay Canada - 17/9/2015)
Peer to peer borrowing is easy with Borrowell, simple, secure and convenient. Start by just checking your rate if you qualify you will receive two loan options, either a 3 year term or a 5 year term option. In each case you will find out how much money you can borrow, your interest rate and what your fixed monthly payments will be. All you have to do is select the one that best suits you and your needs. You then just need to complete three additional steps answer a few questions about your identity, provide proof of your income and verify your bank account. Once this has all been set up, you will receive the funds straight into your bank account. 

Although the Borrowell credit rate will not effect your credit score you do need a minimum of 660 to qualify for a loan. The credit bureaus that Borrowell use, Equifax and TransUnion, provide credit scores that range from 300 to 900. The higher your credit  score the better. Borrowell also take into account a number of additional factors when deciding on your borrowing capacity. These factors include your income, how much credit you have access to and the amount of debt you currently have. So even if you have a credit score of 660 or higher you may not necessarily still qualify for a loan. 

Borrowell is ranked 5 out of 5. Based on 1 review.

5 Star Rating
1 Star: 1 Star RatingPoor
In relation to other products, has performed badly and has little or no worthwhile benefits.
2 Stars: 2 Star RatingBelow Average
Has some features of value, but in comparison to others performs below standard.
3 Stars: 3 Star RatingAverage
A fair product with regards to its competitors - has no outstanding features or benefits.
4 Stars: 4 Star RatingGood
In comparison to other products performs above standard, has beneficial features.
5 Stars: 5 Star RatingExcellent
Performs well above standard in comparison, has exceptional features and benefits.

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