Holly’s Line of Credit Experience

It was graduation day! Holly had just completed her bachelor’s degree in Graphic Design. It was the proudest she had ever been of herself. The ceremony had concluded and the party had started, but in the back of her mind she knew that the real world was waiting.

Meet Holly:

23 years old
Lives in Brampton, Ontario
Proud and independent
College graduate

The day Holly graduated from college was also the last day at her internship which was Holly’s main source of income. Her internship was a success as the company did offer her a job, but it was May and Holly didn’t start her new job as a graphic designer until August. Holly began to search for a part-time job as she knew that she needed a quick financial solution to help pay for her day-to-day expenses.

With some experience in the restaurant industry, Holly was able to land a job as a waitress at a local diner. But it wasn’t enough. She had rent and a car payment due, as well as utility bills that were overdue. Holly was beginning to think that a payday loan might be her only option.

A friend of Holly’s quickly talked her out of a payday loan as the interest rate was much too high. Her friend recommended LendDirect and she explained to her a similar situation where she found an alternative to a payday loan through LendDirect.

A quick online search led Holly to a LendDirect branch located in Brampton. When she arrived, a Financial Service Representative explained to her that she was in the right place, which was exactly what Holly needed to hear.

LendDirect was able to offer Holly a much lower interest rate on a line of credit with fast cash advance options as an alternative to a payday loan. Here is a breakdown of Holly’s personal line of credit with LendDirect.

Bi-Monthly Statement

Approval Amount
(Credit Limit)

$5,000.00

Advance Amount

$2,000.00

Annual Interest Rate

46.93%

Estimated Payment
(with Loan Protection)

$88.62

A Sigh of Relief

Holly couldn’t help but think about how close she was to taking out a payday loan. The interest rate provided by LendDirect has proven to be much more manageable for Holly. With the freedom of unlimited cash advance options up to her approval amount she felt comfortable withdrawing what she needed, when she needed it.

Holly made regular payments throughout the summer, and also took out several cash advances while only paying interest on the amount that she chose to withdraw. She started her new job as planned in August and never looked back.

The above information is based solely off of an illustrative example and is not based on a real person or a real scenario.

Get Your Line of Credit Today

LendDirect is here to help as an alternative to payday loans. Start your application for a personal line of credit today by visiting a LendDirect branch near you or by clicking the button below to apply online. You can also apply over the phone by speaking with one of our Financial Service Representatives.