18 best bad credit loans in Alberta

If you’re having trouble getting approved for a personal loan from a traditional lender, there are other options available. Alternative lenders offer bad credit loans in Alberta, making it possible to gain fast access to the funds you need. However, watch out for high interest rates and fees.

This guide covers some of the best bad credit loans in Alberta. No single loan is best for everyone, so compare your options to find the right fit for your situation.

18 best bad credit loans in Alberta

Loan provider	Interest rate	Loan amount	Loan term	Key features
	6.99% - 46.96%	$500–$50,000	3 - 120 months	Loan broker, pre-approval in 5 minutes	Go to siteLearn more
	6.99% - 46.96%	$300–$50,000	3 - 60 months	Loan broker, largest lender network	Go to siteLearn more
	28.00% - 32.00% + broker fee up to $300	$500–$1,000	3 months	No credit check, funding in 24 hours	Go to siteLearn more
	9.99% - 46.96%	$500–$35,000	6 - 60 months	Fast application, same-day funding	Go to siteLearn more
	9.90% - 46.96%	$200–$35,000	6 - 60 months	Quotes in 3 minutes, flexible eligibility requirements	Go to siteLearn more
	29.90% - 46.90%	$1,000–$15,000	12 - 60 months	Instant decisions, funding in 15 minutes	Learn more
	19.99% - 24.49%	$5,000–$50,000	36 - 120 months	Quick quotes, secured and unsecured loans	Go to siteLearn more
	18.90% - 46.90%	$500–$15,000	6 - 60 months	Instant decisions, same-day funding	Learn more
	19.99% - 46.80%	$1,500–$20,000	12 - 60 months	Approval in 1 day, low income or non-employment income are okay	Learn more
	9.99% - 46.96%	$500–$100,000	9 - 120 months	Approval in 30 minutes, flexible eligibility requirements	Learn more
	14.00% - 33.00%	$1,000–$100,000	6 - 36 months	Good customer service, offers personal and payday loans	Learn more
	29.90% - 46.90%	$500–$15,000	6 - 60 months	Instant decisions, offers personal and payday loans	Learn more
	19.00% - 46.95%	$1,000–$15,000	6 - 60 months	Approval in as little as 30 minutes, debt consolidation loans	Learn more
	From 9.9%	$100–$50,000	6 - 120 months	Search platform for loans, secured and unsecured loans	Learn more
	22.00% + broker fee	$500–$850	90 - 150 days	Broker, short term loan, no credit check	Learn more
	19.99% - 46.70%	$500–$50,000	12 - 96 months	Secured and unsecured loans, high approval rate	Learn more
	Up to 48.99%	$100–$7,000	6 to 60 months	Flexible repayment terms, unsecured loans	Learn more
	15.00% - 26.00% + broker fee	$500–$850	90 - 120 days	No credit check, funding in 24 hours, short-term installment loans	Learn more

Alternatives to bad credit personal loans in Alberta

If you’re unable to get approved for bad credit personal loans in Alberta, you can apply for a payday loan. It’s easier to qualify for this loan, but it’s also extremely expensive and only suitable as a last resort. If you’re experiencing legitimate financial hardship, consider debt relief options, such as credit counselling.

Payday loans and debt relief options in Alberta

Payday lender	Interest rate	Loan amount	Loan term	Key features
Payday loan	$15 for every $100 borrowed	$100 – $1,500	Up to 62 days	Instant loans 24/7, accepts bad credit	Go to site
Payday loan	$15 for every $100 borrowed	$100 – $1,500	7 - 62 days	Instant loans 24/7, accepts bad credit	Go to site
Debt relief	N/A, no loans provided	N/A	N/A	Debt relief options available, such as credit counselling, debt management plan and consumer proposal	Go to site

What are bad credit personal loans in Alberta?

The key features of bad credit loans in Alberta include the following:

• Secured and unsecured loans available. Most bad credit personal loans are unsecured. But if you’re willing to secure your loan with collateral, for example your house or car, you’ll increase your chances of getting approved for a loan and may also get a lower rate. However, you could lose the asset if you default.
• Loan amounts. As a general guide, you can borrow amounts ranging from $500 to $10,000 on a bad credit personal loan. It may be possible to borrow larger amounts with a secured loan.
• Loan terms. You’ll typically be able to repay your loan over periods ranging from 3 - 60 months. Choosing a longer loan term will mean lower monthly repayments, but you’ll end up paying more interest in the long run.
• High interest rates. Bad credit loans in Alberta come with interest rates as high as 47%, so it’s important to compare a range of loans and consider your financial situation carefully before you apply.

Do I qualify for bad credit personal loans in Alberta?

Eligibility requirements vary between lenders, but you will generally need to meet the following criteria to qualify for a bad credit loan in Alberta:

• Be at least 18 years old (you can prove your ID by providing your driver’s licence or passport).
• Be a Canadian citizen or resident.
• Provide proof of employment and regular income.
• Have an active bank account.
• Meet the minimum credit score.

There may also be other eligibility requirements, but these vary depending on the type of Alberta bad credit loan you’re applying for. You may need to meet minimum credit score requirements if you’re applying for an unsecured loan, while you’ll need to provide proof of collateral (such as your car or your home) when applying for a secured loan.

What to watch out for with bad credit personal loans

There are a few risks and traps you should be aware of before you take out a bad credit loan in Alberta:

• Expensive. Lenders view borrowers with bad credit as being at a higher risk of defaulting on their loan. As a result, bad credit personal loans in Alberta come with higher interest rates (up to 47%) than traditional personal loans and will cost more to repay.
• Fees and charges. Make sure you’re aware of any fees that apply to your loan. These may include origination fees, late payment penalties and fees for repaying the loan early. Remember to check any loan’s annual percentage rate (APR) to get a clear picture of how much it will cost.
• Predatory lenders. Unfortunately, you’ll need to be wary of personal loan scams when searching for a bad credit loan, so it’s important to research your lender carefully. Make sure the lender is registered in Alberta, and review all loan documents carefully before you sign on the dotted line.

How to get a personal loan with bad credit in Alberta

You can apply for bad credit loans in Alberta by completing the following steps:

1. Check your credit score. The first thing you should do is order a copy of your credit report from Equifax or TransUnion. This will give you an idea of how your application will appear to lenders, plus you’ll also be able to dispute any incorrect information in your report. There are also some free online tools to give you a rough idea of your credit score.
2. Compare lenders. Next, research lenders that offer bad credit loans to Albertans. Research each lender to make sure they’re reputable, then check the eligibility criteria you’ll need to satisfy to qualify for a loan.
3. Compare loans. Now it’s time to compare the features of bad credit personal loans. Be sure to look at the APR, how much you can borrow, how long you have to repay the money and how often you’ll have to make repayments.
4. Get pre-approved. Once you submit a loan application, the lender might do a surface-level check of your finances and give you personal loan pre-approval. This gives you an idea of the interest rate and loan terms you may qualify for, but be aware that nothing is locked in yet. Fairstone and Mogo are two lenders that allow you to get a loan quote without it affecting your credit score; however, please note that some lenders will perform a hard credit check straight away, which can impact your credit score.
5. Complete your application. If you’d like to proceed, submit any documentation required to support your application. This may include proof of ID, bank statements and proof of employment.
6. Review the loan offer. When you get your official loan offer, read over it carefully. Check the interest rate, fees, loan amount, term and payment schedule before you sign. The money will typically be deposited into your account within one business day.

What are bad credit payday loans in Alberta?

Bad credit payday loans offer the following features to borrowers:

• Very expensive.
  Payday loans are notorious for their high interest rates, so it’s important to remember that you’ll end up repaying significantly more than you borrow. In Alberta, the maximum fee a lender can charge for a payday loan is $15 for every $100 borrowed.
• Short repayment terms.
  According to regulations of payday loans in Alberta, the loan term must be between 42 and 62 days.
• Small loan amounts.
  You can typically borrow amounts ranging from $100 to $1,500 with a bad credit payday loan.
• You’ll need a regular source of income.
  Rather than focusing on your credit score, bad credit payday loan lenders will consider your ability to repay the money you borrow. As a result, you’ll need a steady source of income to qualify for a loan.
• Fast access to cash.
  Payday lenders make it possible to gain quick access to the funds you need – in some cases, you can access your loan amount within an hour.

Do I qualify for bad credit payday loans in Alberta?

Though eligibility requirements vary between lenders, you’ll typically need to meet the following criteria to take out a bad credit payday loan in Alberta:

• Be at least 18 years of age.
• Be a Canadian citizen or resident.
• Provide proof of regular income.
• Have a valid bank account.

What to watch out for with payday loans

While taking out a payday loan in Alberta offers fast funds to help you deal with short-term financial difficulties, it’s also a very high-risk type of borrowing. Here’s what you need to watch out for:

• Borrowing more than you can afford. Before getting a payday loan, make sure you can repay your loan and you’ll have enough money left to pay for other expenses. Otherwise, you may find yourself needing to get another payday loan.
• Loan scams. The payday loans sector is notorious for attracting unscrupulous and disreputable lenders. Protect yourself against payday loan scams by researching the lender. Are they properly licensed? Are they upfront and transparent about how much your loan will cost? Do they follow the payday loan regulations in Alberta?

How to get a payday loan in Alberta with bad credit

Here’s what you need to do to apply for a bad credit payday loan in Alberta:

1. Consider other options. Payday loans are a very expensive form of borrowing, so make sure to explore alternatives to payday loans first. For example, maybe an installment loan could let you access the funds you need, or you could take out a guarantor loan that is cosigned by someone with a good credit score and steady income. Learn more about installment loans in Alberta or cosigned loans.
2. Fill out an application. You’ll need to provide your name, address and contact details along with proof of ID, proof of income and your bank account details.
3. Get approved. You’ll typically receive same-day approval from most payday lenders.
4. Review and sign. Review the loan contract and check all the details carefully before you sign.
5. Get your money. In many cases, the funds will be transferred into your account within an hour.

Can I get no credit check loans in Alberta?

Yes, you can get no credit check loans in Alberta, but watch out for high interest rates and extra fees, such as brokerage fees, appraisal fees and title search fees. No credit check loans you can get in Alberta include payday loans, short-term installment loans, early pay advances and car title loans.

What can I use a bad credit loan for in Alberta?

You can use an Alberta bad credit loan for just about anything, provided it’s nothing illegal. Most lenders don’t impose any restrictions on how you use the funds, so you might want to use your loan to do the following:

• Pay unexpected bills
• Cover essential expenses until your next payday
• Pay for car repairs
• Make a major purchase such as a new fridge or washing machine
• Consolidate debt

Signs of a legitimate lender of bad credit loans in Alberta

How do you know whether a payday lender is legitimate? Look for the following signs:

• The lender is licensed. All payday lenders in Alberta must have a Payday Loan licence. Check if a provider is licensed by searching online through Service Alberta. You can also phone Service Alberta at 780-427-4088 (Edmonton and area) or 1-877-427-4088 (other areas in Alberta).
• The lender abides by payday loan regulations. Payday loans are regulated in each Canadian province. In Alberta, loans must be $1,500 or less, have a term of 42–62 days, and have a maximum fee of $15 for every $100 borrowed.
• The lender is easy to find and contact. Look for a lender with a physical address for their head office and that is contactable via email and phone.
• The lender is transparent about loan costs. Make sure the lender you choose is upfront and honest about how much the loan will cost you. If the rates are unclear or there are hidden fees, walk away.
• The lender doesn’t offer guaranteed approval. Reputable lenders will assess your financial situation before approving a loan, so promising guaranteed approval is a major red flag.
• The lender has positive reviews. Look for a lender with positive reviews on reputable sites like Trustpilot and the Better Business Bureau.

Best bad credit loans in Alberta

1. LoanConnect

Customer Survey: ★★★★★ 3.5 / 5

Go to site

$500 – $50,000
Loan amount

6.99% – 46.96%
APR

3 - 120 months
Term

• Our Take
• Pros + Cons
• Details

LoanConnect maintains a large database of lenders and matches you with several offers based on your unique profile. Full Review

Why it's one of the best

• Save time. Your application will be cast wide and you'll get your results right after you apply.
• Easily compare offers. Compare offers from multiple lenders and log in regularly to see if new offers are available.
• Choose between secured and unsecured loans. Find a secured bad credit loan if you have an eligible asset or get a loan with no collateral.

• Pre-approval in five minutes
• Many bad credit loan options
• BBB-accredited with an A+ rating
• Fast funding

• Not a direct lender
• High rates for bad credit
• Miss out on offers from lenders not partnered with LoanConnect

Loan amount	$500 – $50,000
APR	6.99% – 46.96%
Term	3 - 120 months
Interest Rate Type	Fixed
Min. Credit Score	300
Fees	No application, origination or brokerage fees
Turnaround Time	Receive funds within as little as 24 hours.
Serviced Provinces	All provinces

2. Loans Canada

Customer Survey: ★★★★★ 4 / 5

Go to site

$300 – $50,000
Loan amount

6.99% – 46.96%
APR

3 - 60 months
Term

• Our Take
• Pros + Cons
• Details

Loans Canada is an online broker partnered with over 60 lenders. Fill out one application and get your matches for free. Full Review

Why it's one of the best

• Search a large lender network. Loans Canada works with over 60 verified lenders.
• Get approved. Only see lenders that match your profile.
• Work with an established company. Loans Canada has been in business since 2012. It has BBB accreditation with an A+ rating.

• Easy online application
• Quick deposits
• High loan amounts
• No collateral required to secure your bad credit loan

• High rates for bad credit
• No online quotes provided
• Limited to its network

Loan amount	$300 – $50,000
APR	6.99% – 46.96%
Term	3 - 60 months
Interest Rate Type	Fixed
Min. Credit Score	300
Fees	No application, origination or brokerage fees
Turnaround Time	Receive funds within as little as 24 hours.
Serviced Provinces	All of Canada

3. LoansLoans.ca

Go to site

$500 – $1,000
Loan amount

28% – 32%
APR

3 months
Term

• Our Take
• Pros + Cons
• Details

LoansLoans.ca is a broker that helps people with bad credit find a short-term loan. It doesn't do any credit checks and accepts many types of income as long as it's over $1,200. You may be required to pay a fee of up to $300 that will be added to your payments. Full Review

Why it's one of the best

• Avoid payday loans. LoansLoans.ca's installment loans have longer loan terms than payday loans, which means you can break up your repayments.
• Qualify. LoansLoans is open to many types of income as long as they're recurring. And since it doesn't do credit checks, you can qualify with bad credit.
• Work with an established broker. NCR Financial Services, the company that owns and operates LoansLoans.ca, has been around for over 15 years.

• No credit check
• Apply online in minutes
• Funding on the same day or next day

• High rates and fees
• Doesn't give enough information about its brokerage fee

Loan amount	$500 – $1,000
APR	28% – 32%
Term	3 months
Interest Rate Type	Fixed
Min. Credit Score	300
Fees	Late payment fee (2.66% per month), $45 NSF fee, broker fee up to $300
Turnaround Time	Receive funds in less than 24 hours
Serviced Provinces	All of Canada (except Manitoba)

4. Spring Financial

Customer Survey: ★★★★★ 4.5 / 5

Go to site

$500 – $35,000
Loan amount

9.99% – 46.99%
APR

6 - 60 months
Term

• Our Take
• Pros + Cons
• Details

Spring Financial offers fast approval and funding. If you don't qualify for a bad credit personal loan, however, it'll offer you its credit builder loan. With this loan, you won't access the loan funds until after you've made all your payments on time. Full Review

Why it's one of the best

• Get a loan from an established lender. Spring Financial has been providing bad credit loans in Canada since 2015 and has over 200 employees with headquarters in Vancouver, BC.
• Improve your credit score. Spring Financial reports payments to the credit bureaus so you can increase your credit score.
• Get quick funding. If you provide the required documents on time, you can get your bad credit loan the same day you apply.

• 100% online
• Fast funding via e-Transfer
• No prepayment penalties

• High rates for bad credit
• C- BBB rating, received complaints about the credit builder loan

Loan amount	$500 – $35,000
APR	9.99% – 46.99%
Term	6 - 60 months
Interest Rate Type	Fixed
Min. Credit Score	500
Fees	No fees except $30 NSF fee
Turnaround Time	Within 24 hours
Serviced Provinces	All of Canada

5. Mogo

Customer Survey: ★★★★★ 4 / 5

Go to site

$200 – $35,000
Loan amount

9.9% – 46.96%
APR

6 - 60 months
Term

• Our Take
• Pros + Cons
• Details

Mogo is a Canadian fintech company that offers various financial products, including personal loans and lines of credit for bad credit. Full Review

Why it's one of the best

• Get an instant decision. Get your free quote in three minutes without lowering your credit score.
• Apply easily online. Set up an account within minutes and get approval and funding within one to two days.
• Work with an established company. Mogo was founded in 2003 and is traded on the Toronto Stock Exchange.

• Convenient mobile app
• No prepayment penalties
• Bank-level security

• High rates for bad credit
• Some negative Mogo reviews online
• Loans are powered by Lendful and easyfinancial

Loan amount	$200 – $35,000
APR	9.9% – 46.96%
Term	6 - 60 months
Interest Rate Type	Fixed
Min. Credit Score	500
Fees	Non-sufficient funds fee of $20 to $50
Turnaround Time	Within 24 hours
Serviced Provinces	British Columbia, Alberta, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island

6. Loanz

Customer Survey: ★★★★★ 4 / 5

$1,000 – $15,000
Loan amount

29.9% – 46.9%
APR

12 - 60 months
Term

• Our Take
• Pros + Cons
• Details

Loanz is an online-only lender of bad credit personal loans. But if you don't qualify for a loan from them, they may direct you to another lender. Full Review

Why it's one of the best

• Get funded fast. Apply to get instant approval and receive funds in as little as 15 minutes.
• Improve your credit. Loanz will report every payment to the credit agencies to help boost your credit score.
• Skip the documents. You won't need to send any paperwork if you choose instant bank verification.

• Simple online application
• Positive customer reviews
• No prepayment penalties

• Rates from and up
• Undisclosed fees

Loan amount	$1,000 – $15,000
APR	29.9% – 46.9%
Term	12 - 60 months
Interest Rate Type	Fixed
Min. Credit Score	570
Fees	N/A
Turnaround Time	24 hours or less
Serviced Provinces	All of Canada (excluding Quebec)

7. Fairstone

Customer Survey: ★★★★★ 4 / 5

$500 – $50,000
Loan amount

19.99% – 39.99%
APR

6 - 120 months
Term

• Our Take
• Pros + Cons
• Details

Fairstone offers personal loans for bad credit. Apply online or visit one of over 230 locations across Canada. Full Review

Why it's one of the best

• Get a quote with no impact to credit score. Fairstone will only do a soft credit check to pre-approve you for a loan.
• Choose between secured and unsecured loans. Use your home equity as collateral to increase your odds of approval, or get an unsecured loan.
• Work with an established lender. Fairstone has been providing loans to Canadians for almost 100 years.

• Quick and easy application
• Multiple bad credit loan types (unsecured, secured, mortgages)
• Company has an established online presence
• No prepayment penalties for unsecured loans

• High rates for bad credit (up to )
• Potential for extra fees
• Prepayment penalties for secured loans
• Several negative customer reviews

Loan amount	$500 – $50,000
APR	19.99% – 39.99%
Term	6 - 120 months
Interest Rate Type	Fixed

8. FlexMoney

Customer Survey: ★★★★★ 4 / 5

$500 – $15,000
Loan amount

18.9% – 46.9%
APR

6 - 60 months
Term

• Our Take
• Pros + Cons
• Details

FlexMoney is an online-only lender offering fast bad credit personal loans in Canada. Full Review

Why it's one of the best

• Get an instant decision. FlexMoney's automated system enables it to give you a no-obligation quote within minutes.
• Get your funds fast. Funds should reach your account on the same day or the next day.
• Rebuild your credit. FlexMoney will report regular, on-time payments to the credit bureau.

• Make payments weekly, bi-weekly, bi-monthly or monthly
• Easily make extra payments via e-transfer

• Interest rates can reach as high as
• Minimum income required ( per month)
• Must be employed

Loan amount	$500 – $15,000
APR	18.9% – 46.9%
Term	6 - 60 months
Interest Rate Type	Fixed
Min. Credit Score	500
Fees	No application, origination or prepayment fees
Turnaround Time	Receive funds within as little as 24 hours
Serviced Provinces	Alberta, British Columbia, Newfoundland, Nova Scotia, Ontario, PEI, Saskatchewan and Yukon

9. Magical Credit

Customer Survey: ★★★★★ 4 / 5

$1,500 – $20,000
Loan amount

19.99% – 46.8%
APR

12 - 60 months
Term

• Our Take
• Pros + Cons
• Details

Magical Credit specializes in online personal loans for people with bad credit and/or low income. It's been in business since 2014 with offices in Concord and North York, Ontario. Full Review

Why it's one of the best

• Get a fast loan. Apply online and validate your information with instant bank verification to get a fast loan decision (with funds sent in a few hours).
• Rebuild your credit. Magical Credit reports on-time payments to the credit bureaus to increase your credit score.
• Use non-employment income to qualify. Magical Credit accepts many types of income, such as most government benefits, private pensions and maternity benefits.

• Receive funds within as little as 24 hours
• Accepts child tax credit, EI, CPP, OAS, private pensions and more
• Refer-a-friend program

• Promotes a 3.9% fixed monthly rate but the actual APR is between and
• May charge a administration fee
• Must show proof that you've been employed for six months (if applicable)

Loan amount	$1,500 – $20,000
APR	19.99% – 46.8%
Term	12 - 60 months
Interest Rate Type	Fixed
Min. Credit Score	300
Fees	A single administration fee of $194
Turnaround Time	Receive funds within as little as 24 hours
Serviced Provinces	Canada-wide (excluding Manitoba, Saskatchewan and Quebec)

10. easyfinancial

Customer Survey: ★★★★★ 4 / 5

$500 – $100,000
Loan amount

9.99% – 46.96%
APR

9 - 120 months
Term

• Our Take
• Pros + Cons
• Details

easyfinancial helps Canadians access financing when banks aren't an option. It offers bad credit loans across Canada online and in hundreds of locations. Full Review

Why it's one of the best

• Get a quick quote. Apply in minutes with no commitment and it won't affect your credit score.
• Work with a well-known lender. easyfinancial is one of the biggest lenders of bad credit personal loans in Canada.
• Improve your credit score. According to easyfinancial, one in three customers graduate to prime rates after making regular, on-time repayments.

• Secured and unsecured bad credit loans
• 2% rate reduction with a co-applicant
• BBB-accredited with an A+ rating

• Steep rates for bad credit
• Many negative customer reviews

Loan amount	$500 – $100,000
APR	9.99% – 46.96%
Term	9 - 120 months
Interest Rate Type	Fixed
Min. Credit Score	300
Fees	you may come across non-sufficient funds fees, late payment fees, missed payment fees or admin fees
Turnaround Time	Within 30 minutes
Serviced Provinces	All of Canada

11. Blue Copper Capital

$1,000 – $100,000
Loan amount

14% – 33%
APR

6 - 36 months
Term

• Our Take
• Pros + Cons
• Details

Blue Copper Capital offers personal loans and payday loans to people with bad credit and is upfront about its rates and fees.

Why it's one of the best

• Improve your credit score. Blue Copper Capital reports your personal loan payments to the credit bureau.
• Good customer service. The company has solid customer reviews and is professional and helpful when contacted.
• Easily apply. Fill out an application online, call to apply or apply in person.

• Loan approval in as little as 20 minutes
• Join the customer club to get better rates and terms

• High interest rates (ranging from )
• Admin fee of 10% of the loan amount, up to
• Company only works in

Loan amount	$1,000 – $100,000
APR	14% – 33%
Term	6 - 36 months
Interest Rate Type	Fixed
Fees	Unknown
Turnaround Time	Varies
Serviced Provinces	BC and Alberta

12. Money Mart

Customer Survey: ★★★★★ 3.5 / 5

$500 – $15,000
Loan amount

29.9% – 46.9%
APR

6 - 60 months
Term

• Our Take
• Pros + Cons
• Details

Money Mart offers installment loans and payday loans to people with bad credit. It's been in business for over 40 years and is one of the largest alternative lenders in Canada. Full Review

Why it's one of the best

• Get your loan fast. You can get a payday loan almost instantly and an installment loan in as little as 2 hours.
• Apply online or in-store. Get your loan online or at one of Money Mart's 500+ store locations.
• Get some leniency. Money Mart is less strict with its requirements than banks, credit unions and some alternative lenders. You can qualify with a chequing account and a regular source of income.

• Established lender
• Convenient mobile app
• Accepts non-employment income such as government benefits and private pension

• High interest rates
• Availability in provinces varies in-store and online

Loan amount	$500 – $15,000
APR	29.9% – 46.9%
Term	6 - 60 months
Interest Rate Type	Fixed
Min. Credit Score	300
Fees	None
Turnaround Time	Less than 1 day
Serviced Provinces	AB, BC, MB, NB, NS, NT, ON, PEI, SK, YT

13. Progressa

$1,000 – $15,000
Loan amount

19% – 46.95%
APR

6 - 60 months
Term

• Our Take
• Pros + Cons
• Details

Progressa issues bad credit personal loans to help customers consolidate debts. This lender has been providing loans since 2013 and has BBB accreditation with an A+ rating.

Why it's one of the best

• Rebuild your credit. Use your loan to pay off your bills and debts, and then build your credit score by making on-time payments on your Progressa loan.
• Get approval fast. You can expect to get approved in as little as 30 minutes, but it could take a few days if you have a complex file.
• Qualify. Progressa will look at your whole financial situation rather than fixating on your credit score. It also accepts EI, disability and other forms of government assistance as long as you also have employment income.

• BBB accredited with an A+ rating
• Progressa pays creditors directly
• Good customer reviews

• High rates between and
• Loans are exclusively for debt consolidation
• Must be employed for at least six months
• Won't be eligible if you're in bankruptcy or a consumer proposal

Loan amount	$1,000 – $15,000
APR	19% – 46.95%
Term	6 - 60 months
Interest Rate Type	Fixed
Fees	NSF fees may apply
Turnaround Time	30 minutes to a few days
Serviced Provinces	Canada-wide except Quebec

14. Lend for All

Customer Survey: ★★★★★ 3.5 / 5

$100 – $50,000
Loan amount

9.9% – 46.93%
APR

6 - 120 months
Term

• Our Take
• Pros + Cons
• Details

Lend for All is a loan-matching company that uses an automated process to match people with various lenders and financial institutions. It is based in Toronto, Ontario, and has an A+ BBB rating. Full Review

Why it's one of the best

• Save time. It works with a network of lenders that offer quick approval for customers with bad credit.
• Get fast pre-approvals. Lend for All provides quick pre-approvals within minutes by doing a soft check on your credit report.
• Find a loan for various purposes. Lend for All will match you with offers based on your needs.

• A+ BBB rating
• AI technology gives you viable loan matches
• Potential for multiple offers
• Many loan types

• Online broker (not a direct lender)
• Small network of lenders compared to other brokers
• High rates for bad credit

Loan amount	$100 – $50,000
APR	9.9% – 46.93%
Term	6 - 120 months
Interest Rate Type	Fixed
Min. Credit Score	300
Fees	Varies by lender
Turnaround Time	Varies
Serviced Provinces	All provinces

15. 24Cash

$500 – $850
Loan amount

Starting at 22%
APR

90 - 150 days
Term

• Our Take
• Pros + Cons
• Details

24Cash connects applicants to a short term installment loan with no credit check. It is an alternative to payday loans. Expect a $225 broker fee to be added to your payments. Full Review

Why it's one of the best

• Get approval in one hour. Apply with instant bank verification and get approved quickly.
• Apply easily online. Fill out one quick form and provide your bank details to get approved. Get cash on the same day if approved before 1:30 ET.
• Established online broker. The company is active online and has solid customer reviews on Google and Trustpilot.

• No credit check
• Lower APRs than payday loans
• No paperwork required via instant bank verification
• Manual review available
• Three months to repay

• Government assistance not accepted as a form of income
• Very expensive
• Low maximum amount (under $1,000)
• May not improve your credit score

Loan amount	$500 – $850
APR	Starting at 22%
Term	90 - 150 days
Interest Rate Type	Fixed
Fees	Broker fee applies
Turnaround Time	Within 24 hours
Serviced Provinces	Canada-wide except Manitoba, Quebec and Saskatchewan

16. AAR Financial

$500 – $50,000
Loan amount

19.99% – 46.7%
APR

12 - 96 months
Term

• Our Take
• Pros + Cons
• Details

AAR Financial offers personal loans with large loan amounts and long loan terms. It has BBB accreditation with a B+ rating. Full Review

Why it's one of the best

• Increase your odds of approval. AAR Financial claims to approve 99% of applications.
• Get a secured or unsecured bad credit loan. Use your home to secure your loan and get a more competitive rate, or get an unsecured personal loan.
• Work with an established lender. AAR Financial has been in business for over 15 years with headquarters in Winnipeg, Manitoba.

• Flexible loan amounts
• No prepayment penalties for unsecured loans

• High rates starting at
• Several negative reviews

Loan amount	$500 – $50,000
APR	19.99% – 46.7%
Term	12 - 96 months
Interest Rate Type	Fixed
Fees	Fees may include insurance fees, administration fees and NSF/late payment fees.
Turnaround Time	Within 24 hours
Serviced Provinces	MB, AB

17. Cashco

Customer Survey: ★★★★★ 4.5 / 5

$100 – $7,000
Loan amount

Up to 48.99%
APR

6 to 60 months
Term

• Our Take
• Pros + Cons
• Details

Cashco offers unsecured bad credit loans called Flex Loans. Apply for a loan online or in-store. Full Review

Why it's one of the best

• Get some flexibility. You can choose a payment schedule, loan amount and loan term that works best for you.
• Rebuild credit. Cashco reports payments to the credit bureau, which will help improve your rating.
• Get a quick loan. You can get approval within minutes and your money within 24 hours.

• Fast bad credit loans
• Flexible terms
• No prepayment penalties

• High rates

Loan amount	$100 – $7,000
APR	Up to 48.99%
Term	6 to 60 months
Interest Rate Type	Fixed
Fees	Up to 10% of your loan amount to set up your loan, NSF and late payment fees of $25.
Turnaround Time	Within 24 hours
Serviced Provinces	BC, AB, SK and ON

18. Credito

$500 – $850
Loan amount

15% – 26%
APR

90 - 120 days
Term

• Our Take
• Pros + Cons
• Details

Credito is a broker that helps people with bad credit find a short term installment loan. You won't need to go through a credit check to get approved, but expect to be charged interest plus a $225 broker fee. Full Review

Why it's one of the best

• Qualify. Since Credito doesn't do credit checks and offers smaller loans, it may be easier to get a loan from them vs other alternative lenders.
• Avoid payday loans. Credito's bad credit loans are an alternative to payday loans, allowing you multiple repayments and longer terms.
• Get funded fast. You can get your money within 24 business hours.

• 100% online
• No credit check
• High Trustpilot score

• High rates
• high broker fee

Loan amount	$500 – $850
APR	15% – 26%
Term	90 - 120 days
Interest Rate Type	Fixed
Fees	$225 brokerage fee
Turnaround Time	Within 24 hours
Serviced Provinces	All

Bottom line

It’s still possible to get bad credit loans in Alberta even if you’re worried about your credit history. But these types of personal and payday loans are expensive, so make sure you understand the total cost of borrowing before you apply. It’s also important to compare a range of lenders and loans to find the right loan from a reputable lender.

Frequently asked questions about bad credit loans in Alberta

• What's the easiest loan to get with bad credit in Alberta?

  The easiest loan to get with bad credit is a payday loan. Payday loan lenders tend to have very lenient eligibility requirements. That said, payday loans are one of the most expensive types of personal financing available, so it's worth first consider other types of loans that accept bad credit borrowers in Alberta, like installment and personal loans.

• Can I get approved for a loan in Alberta with bad credit?

  Yes, there are several alternative lenders that offer bad credit loans in Alberta. But check that a lender is properly licensed and abides by Alberta's payday loan regulations before you apply.

• Can I get guaranteed loans in Alberta?

  Avoid lenders advertising guaranteed loans in Alberta. Legitimate lenders review an applicant's financial situation, such as their credit score, income and existing debts, before giving approval.

• Where can I get a bad credit loan in Alberta?

  Online lenders specialize in bad credit loans and tend to offer less strict eligibility requirements than traditional lenders. They offer easy online applications and fast access to funds, but you'll need to be willing to accept higher interest rates.

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