Medical Loans
Need Cash for Medical Treatments?
If you are looking to finance elective surgery, unexpected medical expenses or out-of-country medical care that requires upfront payment, medical loans can provide the assistance you need, to secure financing quickly.
Medical loans are ideal for scenarios involving:
- Out-of-country consults and surgical procedures
- Cosmetic surgery
- Critical healthcare
- Diagnostic services
- Any medical service not covered by health insurance
The Benefits
- No down payment
- Flexible terms from 12 to 60 months
- No collateral
- No early repayment penalties
- Competitive interest rates
- Financing starting at $5,000
Our Application Process
01
Application
Fill out our loan application online. Our client service representatives will give you a call to complete the required information and send you the application to complete, along with the documents needed for review.
02
Review
Our team assesses your file to determine if you are approved. If more information is needed, we will be in touch.
03
Approval
Once approved, you sign the loan documents and we e-transfer the funds directly to the medical provider completing your surgery.
Our Terms and Fees
- Easy approval process. Our client service team will walk you through the process and be there to answer any questions you may have.
- Stress-free repayment. Our loans have fixed interest rates and we work with you to create a repayment plan, making it easier to budget.
- Competitive fees and transparent terms. Our interest rates and fees are competitive and completely transparent — with no hidden charges.
- Ability to borrow more if necessary.
- Flexible. The loan can be used for any medical procedure, in Canada or beyond-the-border.
Loan Chart
| Loan Size | Minimum $5,000. No maximum Each loan is evaluated on a case-by-case basis. |
| Interest Rate | Starts at an annual interest rate of 10.99% per year, compounded monthly. |
| Repayment Term | Maximum of 5 years. Loans can be paid off at any time without penalty fees. Shorter repayment terms can be requested. |
| Payments | Monthly. An amortization schedule will be created and provided to you, based on your principal loan amount and term selected. |
| Credit check/Collateral required | Yes. During the application process, a full credit review will be done using the financial information requested from you to evaluate the amount based on the submission of the medical pre-bill or quote. |
| Administration Fee | $400 |
| Pre-Bill for Medical Treatment | Yes. This is required for the loan application process. |
| Payment | The medical facility or clinic will be paid directly by us, based on the pre-bill for the treatment. |
Frequently Asked Questions
To complete the application process, you will need the following for us to properly assess your loan request.
- Two pieces of Canadian government-issued ID
- Proof of employment/self-employment
- Confirmation of assets and debts
- Confirmation of surgery or the surgical pre-quote
We review your completed application and the supporting documentation submitted by you for our loan review, as soon as possible. A decision is typically made within two-three business days.
Once approved, we will pay your medical provider directly for the procedure, based on the pre-invoice or bill provided.
Procedures and surgeries such as:
Critical Healthcare
- Cardiovascular diseases
- Neurological disorders
- Cancers
- Renal disorders
- Organ failure/transplants
- Musculoskeletal/Connective Tissue Disorders
Orthopedic Healthcare
- Joint replacements
- Spinal surgery
- Arthroscopic surgery
- Rotator-cuff repair
- ACL reconstruction
- Osteotomy
- Cartilage repair/regeneration
- Complex fracture repair
Cosmetic Healthcare
- Rhinoplasty
- Breast augmentation
- Liposuction
- Eyelid surgery
- Tummy tuck
- Facelift
Diagnostic Services
- MRI scan
- CT scan
- PET scan
- Ultrasound
- Echocardiogram
- Endoscopy
- Colonoscopy
- Mammography
All loans will be issued in Canadian dollars based on a one-time exchange calculation of the amount listed on the medical pre-bill or quote.
We offer competitive interest rates, starting at 10.99%. Higher interest rates may apply, based on your credit score and the risk associated with the surgery
Our loan terms are set to a maximum of 5 years. You may discuss shorter repayment terms with your Case Manager to best suit your needs.
Loans may be paid off sooner than your schedule and there is no penalty to do so.
Medifund provides referral services to their clients for lending solutions provided by Easy Legal Finance.
No, the interest rate initially assigned to your medical loan will not change. The rate you start with is the one maintained for the life of your loan.
Yes, we require confirmation of assets, proof of employment and income verification to help determine, then approve the loan amount.
There is no application fee. There is a one-time administrative fee, if you are approved for the loan.
The loan is paid back in monthly instalment payments, automatically debited from your bank account. The number of monthly payments is determined by the amount of your loan amount and repayment term that work best for you.
Absolutely. Our online application is safe and secure, and we do not share client information with third parties. Feel free to review our Privacy Policy and Terms of Use.
Feel free to give us a call. We will see if we can provide additional funding.