High interest debt sucks.

Debt consolidation shouldn't.

The fastest and easiest way to borrow up to $25,000 and start your journey to financial well-being.
Applying does not affect your credit score in any way.
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, 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
We don’t make it difficult to pay us.
We don't have hidden fees.
We don’t spam you with loan offers.
We make it easy to check your loan status and progress.
We give you 10% cash-back just for managing your loan.
Pay all your debt in one easy monthly payment.
Do you have high interest debt (30% to 47%+) from other non-prime or payday lenders?
We can help.
24.99% - 29.99% Interest Rate

+

10% Cash-back
For example, if you borrow $15,000, we give you $1,500 for exhibiting good behaviour
(like making your payments on time or reducing your credit card debt utilization)

Frequently asked questions

Everything you need to know about us.
Will applying now affect my credit score?
Absolutely not! Applying through our website takes 60 seconds and has no impact on your credit score!
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.
"Our goal is to save you thousands of dollars, and leave you in a better position than when you started."

Our goal is to save you thousands of dollars, and leave you in a better position than when you started.

We can only take on 25 more clients this month! Click below to apply.

Basic Loan Criteria
I’m tired of my debt
I'm 18 years or older
I have a 600+ credit score
I am currently employed earning at least $30,000
I am a citizen or permanent resident of Canada
I have neither a consumer proposal nor a bankruptcy on my credit report
We truly believe financial well-being should be accessible to all Canadians. Our three step program empowers, educates, and rewards our customers. We offer the only loan where someone can leave with more savings than when they started.
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