How did I get on this mailing list?

I have no idea how I ended up on this mailing list. Apart from some foreign exchange transactions, I've never conducted any financial dealing with firms other than banks, brokerages, and trust companies.

And I'm not really in the market for "up to $5,000" and I thought that the rate would probably be about the same as those available for a cash advance against my credit card.

Well I was wrong. The rate is 3.89% per month, or 47.87% per annum. For a moment just consider that you can probably get a cash advance against your credit card for only 19% per annum and that the legal maximum interest rate in Canada is 60% per annum.

In the letter, the firm contrasts itself against the competition. "We are different than the big stuffy banks that often say "no" or the high cost payday loan companies". One of the suggested uses of a loan is to pay your "monthly rent".

If you are taking out a loan, at 47.87%, to pay the rent I have one suggestion, MOVE. This may be a great business model for easyfinancial, but for a consumer this is a potentially catastrophic proposition.

According to the firm's financial statements, the company's allowance for loan losses is 5.4%. While that is much higher than the provision for loan losses at a bank, the 47.87% interest charged by easy financial would seem to leave a HUGE cushion against loss.

So, while I see this letter for what it is, an offer of money I don't need at a rate I would never pay, I'm sure that there are many people who will take out a loan because they see no other way out of their current financial situation. Sounds a bit like Greece and the IMF.