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.
Testimonials
Customer Testimonials
Read what real people are saying about Parachute.
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.
Crista, 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. I would recommend Parachute to friends and family in a heartbeat.
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
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.
