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LottoLend is a 100% Canadian-owned financial technology company based in Calgary. We offer prize-linked loans up to $1,500. A prize-linked loan is a short-term unsecured cash loan repaid by pre-authorized debit when you receive your salary payments. It's like a payday loan, but it gives you the chance to win cash prizes in weekly draws. Every $10 borrowed gives you one (1) ticket into the draw following the full repayment of your loan. We hold weekly draws on Fridays for several cash prizes ranging from $10-$1,000, and a variable $10,000 jackpot!

LottoLend was created to help Canadians become more financially secure. We’re on a mission to promote financial inclusion and incentivize responsible borrowing. Why? Because many studies show that healthy financial behaviors - and having access to emergency funds specifically - contribute to better mental and physical health, which results in a happier, healthier and wealthier life. We're different from traditional short-term unsecured lenders in one big way; we pool our revenue from lending, pay our operating expenses, and give the rest back to our customers through weekly cash prize draws.

1. Take out a loan. Every $10 borrowed gives you one (1) ticket. Tickets are automatically generated. 2. Pay off your loan. Once your loan is paid off in full, your tickets will be automatically entered into the next weekly draw. 3. Win Prizes. Draws are held on Fridays. We use a secure quantum randomization engine to select winning numbers. If your ticket number is drawn for any of the cash prizes, you win! ‍You will be asked to correctly answer a skill-testing math question question (through e-mail) to receive your cash prize. Don’t worry, you get three tries to get it right! The prize amount will be deposited into your savings account after correctly answering the skill-testing question.

No, but it’s like a lottery in the sense that you can win big. LottoLend offers customers a promotional contest. You get chances to win money with our unique weekly draws just by borrowing. There is no gambling involved and no additional cost to participate in our weekly contests. In fact, you can enter for free without taking a loan by following the steps in our Rules of Play.

Unlike traditional lenders, we pool a portion of our revenues and pay it back to our customers through weekly cash prizes. This lowers the effective average APR (annualized percentage rate), which means we charge our customers significantly less than other lenders.

Yes. We need to connect to your bank account as part of our verification process, and to make and receive payments.

Instant verification is a fast and secure process that grants us viewing privileges to your bank account. Your personal information remains safe and secure, since Instant verification shares the same level of security as your bank. All we are provided is a copy of your bank statement: we never log in to your account, nor do we ever see your ID or password information. While logging into your financial institution your private information remains private. With IBV we can make a quick decision regarding your application, meaning you can get your funds quickly and easily. This is our recommended process as it allows us to serve you best by providing a fast and secure way to get your loan approved.

We earn revenue on interest and fees. This is what covers our operating costs and allows us to pay out cash prizes to lucky customers.

We are only available in Alberta right now. We are preparing to expand to other provinces soon.

Thanks to the convenience of the internet, LottoLend is online only – and you can get your funds e-Transferred to you the same day! Being online only (we have no stores) allows us to lower our operating costs and return more cash to our customers.

Ask your employer for an advance – Some employers are willing to provide paycheck advances to help employees cover emergency expenses. The fees and interest are often lower. Payment plan with creditors – Contact your creditors directly to request alternate payment arrangements until you can pay in full. Many are willing to work with borrowers. Borrow from friends or family – If you have a trusted friend or relative who can loan you money, this avoids borrowing costs entirely. Just be sure to formalize a repayment plan. Secured credit card – These require a cash deposit that acts as your credit limit. This option helps those trying to establish credit history. Traditional loans – Banks, credit unions, and online lenders may approve standard personal loans at lower rates for those with good credit scores.