Current Clients FAQ
We believe in your potential and are here to support your educational and career goals.
How does an Oasis loan affect my credit?
Oasis loans do not affect your credit. However, we plan to register with Equifax, a credit bureau, by year end. This will enable your payments help to build your credit in Canada, potentially giving you access to better interest rates on traditional credit products in the future. Please note that all missed payments will also be reported to Equifax, and may reduce your overall credit score. A low score may make it difficult to secure credit in the future (i.e credit card, car loans, mortgages).
How can I see and monitor my loan payment schedule?
If you would like to know the balance of your loan or the history of your loan payments, please get in touch with our Loan Management Team at info@oasislendinggroup.com. You can also read your loan contract to see your payment terms and schedule.
I am facing financial problems and cannot keep up with my payments. can I make changes to my repayment plan?
We understand that you may face setbacks along the road to achieving your education and career success. If you are unable to make payments, please get in touch with a Financial Representative at info@oasislendinggroup.com. and they will work with you to modify your repayment schedule if warranted.
What happens if I miss a payment?
If you miss a payment on your loan, you will be notified by our Loan Management team and be given the opportunity your payment before we call the loan due and/or take legal action.
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We send you an invoice via your email each month so you are able to make your payment by accessing the payment link found in it and entering your debit information. We also recommend that you inform us after a missed payment has been made to ensure that we reconcile your account on our end.
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If you would like to make a payment via e-transfer, please contact us at info@oasislendinggroup.com for instructions on how to do so.
How can I make lump sum payments towards my loan or pay off the balance?
You can make a lump sum payment or pay off your balance via E-transfer or Wire. Please contact us at info@oasislendinggroup.com for information on how to do so. Our microloans are open loans, and can be paid off early at any time without penalty. However, note that we encourage you to pay off the balance as a one-time transaction rather than piece meal because we'd have to re-calculate your loans payments and have you sign an updated contract each time.
Can I pay my loan through a credit card?
No, you cannot pay your loan directly through a credit card. Loans are currently set-up so that you receive a monthly invoice and a payement link that allows you to make payments via your debit card. If you need to make up for a missed payment, or want to make a lump sum payment towards your loan, please contact us at info@oasislendinggroup.com for instructions on how to do so.
Can I apply for another loan as a current client?
The Oasis team is always happy to provide loans that will enable you achieve your dream. In order to request a new loan, please contact us at info@oasislendinggroup.com and we will instruct you on what documents and information we would need. Please note that it would be a more streamlined process as an existing client.
Is my loan tax deductible?
Our microloans are personal loans, rather than student loans or government loans. Therefore, the interest payments on this loan are not tax deductible and we do not issue T4s for this loan.
If I need more help regarding my loan, where do I go?
If you have more specific questions that have not been answered by our FAQs, please contact us at info@oasislendinggroup.com and we will be happy to assist or direct you further.
Still, have questions? Our team would be happy to answer your questions and help you get started on your application. Contact us here.