Our customers save between $200 - $1000 per month as a result.
Consolidate Your Debt
We offer loans from $5000 to $25,000 to pay off that pesky high-interest debt.
Reduce Your High-Interest Debt
Rates from 24.99% to 29.99%, flexible payments and 30 to 60 month terms.
Testimonials
"At Parachute you get empathy and good information. Parachute wants you to do well. The rewards program is like the cherry on top. It gives you another goal to work towards. It really helps you keep your eye on the prize."
Christa, Guelph, ON
"Parachute has the best customer care and high levels of human compassion for people's lives. Parachute is a good place to be; the service and compassion cannot be matched. I'll leave it at that"
Paul, Toronto, ON
"Parachute makes me feel like I'm the only client. They take the time out to get to know you on a personal level; I've never had the CEO of a loan company call me personally to see how I'm doing. I’m excited to know that there is cash back at the end of my loan."
JM, Toronto, ON
"I appreciate all the time and work you put into getting everything sorted out. It's been a learning experience for me and I'm excited for this second chance to be better with my money and make better financial decisions."
Jayson, Toronto, ON
"Having a custom dashboard I can log into with all my data in one place helps me to make good choices and see where I can improve. For someone looking to really improve their financial future and gain the independence to make better choices, I highly recommend parachute."
Orit, Toronto, ON
Testimonials
The Parachute Solution
See how we can change your financial future.
Before
$0
Cashflow
42%
Interest Rate
649
Credit Score
29/82
Wellness Score
Amélie Laurent
8 Months with Parachute
(Example customer experience)
After
$567
Cashflow
27.9%
Interest Rate
700
Credit Score
76/82
Wellness Score
“This is the first time I’ve seen a loan provider that rewards people for paying off the loan.”
Angie J.
Mom, Toronto, ON
Earn cash-back and improve your credit score.
Use the calculator below and see what we can do for you.
*Assumes consolidation of high interest debt. For illustration purposes only.
We're serious about security.
Encrypted and secure
We use 256-bit encryption to keep your information safe—so you don't have to worry.
Data privacy
We never store your banking usernames or passwords, and we never sell your data.
Customer support
Chat to our professional team when you need help, or call us at (844) 670-2403.
Frequently asked questions
Everything you need to know about us.
What do I need to complete the application process?
Here's what you'll need to apply: · Proof of income (at least 2 most recent paystubs) · Most recent statements for debts to be consolidated · Bank account Information · 2 pieces of government issued ID (Driver's License or Provincial ID with photo plus one of Passport, SIN card, PR card, or Birth Certificate)
Can I get a quote without applying for a loan?
Parachute offers a calculator on our website for you to get a sense of what you might be approved for based on the information you enter. There is no obligation to proceed.
Why borrow through Parachute?
Many Canadians choose to borrow through Parachute as our APR rates are often much cheaper, we have no early repayment fees and accounts are easily managed online, with you in charge. But we don’t stop there. Canadians choose Parachute because we go beyond just the debt consolidation loan process with you. We help you to get financially fit by engaging with you throughout the loan process with recommendations and exciting ideas to help you improve your credit score – and then we reward you for that hard work!
Who can borrow through Parachute?
Our borrowers are individuals living in Canada. To borrow with Parachute you need to be at least 19 years old, have a fair credit history and a regular income.
How is Parachute regulated?
Parachute is subject to the provincial laws of each jurisdiction in which it offers and funds loans. On a federal level, Parachute’s lending operations are subject to specific statutes enforced by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), as well as other federal agencies.
