What is a debt-to-income ratio?

The debt-to-income ratio is a financial measure that compares your total monthly debt payments to your gross monthly income. Lenders use this ratio to assess your ability to manage monthly payments and repay borrowed funds.

Can I refinance my loan?

Yes, refinancing a loan involves taking out a new loan to pay off an existing one, often to secure a lower interest rate or better terms. It's important to consider the costs associated with refinancing before proceeding.

How do I choose the right lender?

Choosing the right lender involves researching different options, comparing interest rates, fees, and customer reviews. It's important to select a lender that aligns with your financial needs and offers favorable terms.

What is a variable-rate loan?

A variable-rate loan is a loan where the interest rate can change over time based on market conditions. This means that monthly payments may fluctuate, which can be beneficial if rates decrease but may also pose a risk if rates increase.

Can I pay off my loan early?

Many lenders allow borrowers to pay off their loans early without penalties, but some may charge a prepayment fee. It's advisable to check your loan agreement or consult with your lender to understand their policy on early repayment.

Can I get a loan with bad credit?

Yes, it is possible to get a loan with bad credit, although the options may be limited and the interest rates may be higher. Some lenders specialize in providing loans to individuals with poor credit histories, so it's worth exploring those options.

How long does it take to get approved for a loan?

The approval time for a loan can vary depending on the lender and the type of loan. Some lenders offer instant approvals, while others may take a few days to process your application. It's important to check with your lender for specific timelines.

What is the interest rate on loans?

The interest rate on loans can vary based on several factors, including your credit score, the type of loan, and the lender's policies. Generally, borrowers with higher credit scores qualify for lower interest rates, while those with lower scores may face higher rates.

How do I apply for a loan?

To apply for a loan, you typically need to fill out an application form, provide personal information, and submit documentation such as proof of income and identification. Many lenders offer online applications for convenience, allowing you to complete the process from home.

Bank-grade security for embedded lending

Your data, your customers' data, and financial transactions are protected by enterprise-grade security measures and comprehensive compliance frameworks designed for the Canadian market.

Build and scale with a complete platform

Accelerate your time to market and reduce engineering effort with Slate's comprehensive lending infrastructure.

End-to-End Encryption

All data is encrypted in transit using TLS 1.3 and at rest using AES-256 encryption standards.

Secure Infrastructure

Hosted on SOC 2 compliant cloud infrastructure with 24/7 monitoring and automated threat detection.

Access Controls

Multi-factor authentication, role-based access controls, and regular access reviews.

Regulatory Compliance

Built for Canadian financial regulations

Slate handles all regulatory compliance requirements so you can focus on your platform. We stay current with evolving Canadian lending regulations and ensure full compliance across all provinces.

[01]

Lending Regulations

Full compliance with federal and provincial lending regulations, including interest rate caps, disclosure requirements, and consumer protection laws.

Federal lending compliance

Provincial regulations

Consumer protection

[02]

Data Protection

PIPEDA compliance for personal information handling, with strict data governance policies and regular privacy impact assessments.

PIPEDA Compliance

Data Minimization

Right to Deletion

[03]

Anti-Money Laundering

Comprehensive AML/KYC procedures including customer verification, transaction monitoring, and suspicious activity reporting.

KYC Verification

Transaction Monitoring

FINTRAC reporting

Frequently Asked Questions

Quick answers to the most common questions about integration, security, and how to start offering financing through your platform.

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