Loans and Lines of Credit

Juggling life while managing your finances can be hard. A Libro Coach can help with a personal loan to set you on the right track to maximize the correct use of a loan or line of credit.

Talk to a Coach

Process for getting a loan or line of credit

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Meet with a Coach in person or virtually to complete your application.

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Once approved, come into a branch to sign documents with a Coach.

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Access your new loan or line of credit funds once processed.

Line of Credit Options

View all of the Line of Credit options Libro offers.

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Overdraft Protection

Best for you if… You’d like peace of mind if your account becomes overdrawn; protects if something unforseen should clear the account. This is a short-term solution.

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  • Line of Credit limit of *$500 – $5,000
  • Attached to chequing account
  • Acts as overdraft
  • Automatically paid down when you make a deposit
*Limits under $500 can be authorized in certain cases. Please talk to a Libro Coach for more information.
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MeritLine (Account)

Best for you if… You’d like a long term solution where the Line of Credit attaches to your chequing account for ease of use. This gives flexibility for larger purchases and has interest only payments at competitive rates.

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  • Line of Credit limit of $5,500+
  • Attached to chequing account
  • Acts as overdraft
  • Interest-only payment
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Student Line

Best for you if… You’re a post secondary education student looking at a flexible option for tuition, books, and any related expenses.

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  • Line of Credit limit of $5,000-$10,000 per study year
  • Attached to chequing account
  • Acts as overdraft
  • Interest-only payments during studies**
**Principal and interest payments begin 1 year after student finishes studies.

Tools & Resources

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Calculator

Use our easy online calculator to see your loan payment options.

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Rates

Take advantage of our competitive loan rates.

Frequently Asked Questions

Interested in our Borrowing Options?

Your privacy and trust are important to us; we discourage you from sharing any sensitive information (such as passwords, Personal Identification Numbers or Account Numbers) within this form.

    Upon receiving your information, a Libro Coach will contact you within two business days. We will use and protect your information in accordance with our privacy policy.