No. CSF is a specialized lender that has expertise in the vacation industry where financing for Canadians is difficult and expensive to obtain. CSF cannot make loans for any other purpose not related to the vacation industry

CSF is not funded by Canadian Banks or other traditional institutions. CSF borrows its funds from CheckMark Financial Corporation which is a Canadian company that provides investment opportunities to Canadians using their RRSPs. Investments with CheckMark may only be made through an Offering Memorandum which has been filed with the proper regulators across Canada. Information regarding CheckMark and your RRSP may be obtained only from our Exempt Market Dealer (“EMD”) who is registered to provide investment advise and to determine whether Canadians are eligible to subscribe for 6% Bonds.

You can easily apply online on CSF’s web lending portal (here).

No. Your application will not affect your credit score. Further your Vacation Loan is not reported to the credit bureaus and will not affect your ability to obtain credit from other sources.

Yes. You can prepay all or any part of your Vacation Loan without penalty.

You can use the payment method that suits your needs. We recommend a Pre-Authorized Debit (PAD) with your bank. This allows payments to be automatically debited from your bank account automatically.

Each year, your monthly payment is based upon an 8% annual interest rate on the outstanding balance of your Vacation Loan. Each year, your monthly payment will include a payment of principal equal to 5% of the Vacation Loan. This permits full repayment of your loan over 20 years.

No. Each year, your monthly payment will be decreased. This is because as you pay down the principal amount of the Loan, the interest is only calculated on the outstanding balance. You will be advised on the new monthly payment on the anniversary date of your Vacation Loan.

Yes. CSF will provide you with annual statements showing your payments and the outstanding balance on your Vacation Loan. Of course, you can contact CSF at any time with questions regarding your vacation loan.