Financing for eligible health-related costs
Medical and Dental Loans in Canada
Medical and dental loans may help eligible borrowers cover approved health-related expenses that insurance, public coverage or savings do not fully pay. GoodLoan lets qualifying Manitoba and Ontario residents apply online and review a defined repayment schedule before accepting an offer.
$100–$20,000
General request range. The amount offered may be lower.
Up to 48 months (4 years)
Annual interest: 5%–30%. APR: 31%. Subject to eligibility and approval.
Flexible schedules
Weekly, bi-weekly or monthly where offered.
How medical and dental loans work
Medical and dental loans are unsecured personal loans used for eligible health-related expenses. GoodLoan provides financing, not medical advice, insurance or treatment. The clinic or provider remains responsible for the service, diagnosis, price and outcome.
Before borrowing, ask the provider for a written treatment plan and cost estimate. Then confirm provincial coverage, workplace benefits, private insurance and any provider payment plan. A loan should cover only the remaining eligible amount you can afford to repay.
Expenses that may be considered
Dental treatment
Eligible restorative, urgent or medically necessary dental costs not fully covered by benefits.
Vision and mobility
Approved glasses, mobility supports or related personal health expenses with a defined cost.
Other eligible care
Approved health-related services or equipment permitted by the final personal-loan agreement.
Calculate the amount after coverage
Ask the provider to send a predetermination to the insurer when available. Next, subtract confirmed public or private coverage, discounts and any amount you can safely pay. Do not rely on an unconfirmed insurance estimate when choosing the loan amount.
If treatment occurs in stages, ask whether you will pay at each stage. A smaller initial request may cost less than borrowing the entire estimated amount before the provider confirms every service.
Documents GoodLoan may request
- Government-issued identification
- Proof of current Manitoba or Ontario address
- Recent income and banking information
- Accurate debt and essential-expense details
- A treatment estimate or provider invoice where required
- Evidence of confirmed insurance coverage where relevant
Compare medical and dental financing options
Some providers offer staged payments or financing, and a line of credit may cost less for an eligible borrower. Review the Financial Consumer Agency of Canada’s health-insurance guidance, then compare the interest rate, APR, fees, total repayment and consequences of missed payments. Never delay urgent medical attention solely to wait for a GoodLoan decision; approval and timing are not guaranteed.
How the GoodLoan online application works
Choose a reasonable amount
Request only what you need and consider whether the scheduled payment fits your regular budget.
Provide your information
Complete the application with accurate identity, address, employment, income, expense and debt details.
Complete verification
GoodLoan may request identity checks, income documents, bank statements and authorized credit information.
Review any offer
If approved, read the principal, interest rate, APR, payment schedule, total cost, fees and borrower rights before signing.
Submitting information does not guarantee approval, a particular amount or rate, or funding. Verification and underwriting requirements apply.
Compare the payment and total borrowing cost
A smaller scheduled payment may look easier to manage. However, a longer term can increase the total interest paid. Therefore, compare the annual interest rate, annual percentage rate (APR), number of payments, payment amount, total cost of borrowing and total repayment.
GoodLoan does not charge an application fee under its current product design. In addition, early full or partial repayment is intended without a prepayment penalty. Review the final agreement because it controls the actual terms.
Frequently asked questions
Can a GoodLoan personal loan pay a dental bill?
An approved loan may cover an eligible dental expense when the purpose is permitted by the final agreement.
Does GoodLoan decide which treatment I need?
No. GoodLoan is a lender, not a healthcare provider, and does not provide medical or dental advice.
Should I use insurance first?
Confirm available public, workplace or private coverage before borrowing so you request only the remaining amount.
Can GoodLoan pay the clinic directly?
Funding and payment instructions depend on the approved offer and process. Do not assume direct provider payment unless GoodLoan confirms it.
Review the cost before you apply
Estimate a payment, review GoodLoan’s current rates and decide whether the loan fits your budget.
GoodLoan currently serves eligible applicants in Manitoba and Ontario, subject to product availability, verification, underwriting and applicable law. Website information does not replace the final loan agreement and disclosure.