Personal Lending, Powered by Trust.

Get the money you need, right when you need it. Whether it's for an emergency, a down payment on your dream car, personal expenses, or that long-awaited trip home — we make borrowing simple and stress-free.

  • Since its inception in 2016, 198Loans aka 1989167 Alberta Ltd. has been committed to providing access to credit for individuals and families new to Canada. With lending operations in Ontario, British Columbia, Alberta, Saskatchewan, Nova Scotia, Quebec and Manitoba our mission is to support our core customer group with financial solutions tailored to their unique needs.
  • By keeping the loan amounts small and term based, our clients are able to access financing that is both manageable and finite – putting them in the position they need to succeed.
  • Moving forward, the mission of 198 Loans is to be able to provide an entire suite of products and services to our core customer group that provides for both their current and future anticipated financial needs.

Our Mission

At 198 Loans, we understand that life doesn't wait and neither should you.

Our mission is to support individuals and families, especially those new to Canada, by offering quick and compassionate personal lending solutions when immediate financial needs arise.

We believe everyone deserves access to fair, transparent financing—regardless of credit history.

We are committed to offering accessible support when it matters most—through a simple process, transparent terms, and genuine care—so our clients can focus on what truly matters in their lives.

Who We Lend To

Our primary focus is to provide lending solutions to individuals and families who are new residents to Canada and may not yet have access to traditional financial services.

Many of our clients need funds for personal reasons—most commonly to support loved ones back home. Rather than sending small amounts from each pay cheque, they prefer to send a lump sum. We understand this need and tailor our lending process accordingly. Our underwriting approach goes beyond credit scores. The process is personalized and thoughtful. We take the time to understand the purpose of the loan, carefully review supporting documents such as bank statements and employment letters and assess each applicant’s ability to repay in a way that is affordable and sustainable.

At every step, we take pride in making our application and approval process as smooth, transparent, and stress-free as possible.

long-term-banking

How Do I Apply?

We made it easy for our clients. Applying for a loan online is a simple and efficient process designed to provide quick access to financial assistance.

  • Complete the online application form by providing the necessary details, including:

    • Full Name
    • Contact Information (Phone Number & Email Address)
    • SIN (For record purposes)
    • Employment or Business Details
    • Income Information
    • Loan Amount Applied
    • Co-signer Information

  • Most lenders require supporting documents to verify the applicant's identity and financial standing. Commonly requested documents include:

    • Proof of Identification: Driver's license or Provincial Card
    • Proof of Residency:

    - Canadian Residents - Citizenship Certificate or Passport
    - Permanent Residents - Permanent Resident Card
    - Temporary Residents - Work permit (at least 1 year validity)

    • Proof of SIN - Latest T4
    • PAD (Pre-authorized Debit Form)

  • Sumbit the Application Online
Click to Start Application!

  • Our loan amounts range from $1,000 to $3,500 for first time applicants, subject to approval. This is an open loan, which can be repaid without penalty. The loan term is 12 months. Clients can choose a repayment schedule that suits them—monthly, bi-weekly, semi-monthly, or weekly.

  • To qualify, clients will need either one non-borrowing co-signer or two additional applicants who wish to apply. The three clients will form a group and act as co-signers for each other.

  • We do not conduct credit checks.

  • We also offer refinancing options once a borrower has paid off at least half of their existing loan balance. This allows clients to access additional funds if needed, or to restructure their loan terms to better fit their evolving financial situation.

  • Note: For better underwriting result, make sure that the last 3 months bank statements verified, do not contain over 2 missed transactions.

Meet our Team!

We are here for you!

ethel

Ethel Valdez - Cabarubias

Alberta & Saskatchewan District Manager
Image (43)

Leizel Delos Santos

Quebec & Manitoba District Manager