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Bad credit loans in Calgary

Find out where you can apply and get fast approval for bad credit loans in Calgary, Alberta.

If you’ve got a bad credit score, it can be very difficult to qualify for a loan from a traditional lender. But it’s not all bad news.

There are plenty of other lenders out there that specialize in bad credit loans, provided you’re willing to accept higher interest rates. Keep reading for details on where to find bad credit loans in Calgary and how to choose the right loan for your needs.

Compare bad credit installment loans in Calgary

1 - 4 of 4
Name Product Interest Rate Loan Amount Loan Term Requirements
Loans Canada Installment Loan
8.00% - 46.96%
$500 - $50,000
4 - 60 months
Requirements: min. credit score 300
Spring Financial Installment Loan
17.99% - 46.96%
$500 - $15,000
9 - 48 months
Requirements: min. income $1,800/month, 3+ months employed, min. credit score 500
LoanConnect Installment Loan
$500 - $2,500
3 - 6 months
Requirements: min. credit score 300
Mogo Installment Loan
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Requirements: min. income $13,000/year, min. credit score 500
100-day money-back guarantee. If you're not happy with your loan, pay back the principal and get your 100 days of paid interest and fees back.

Compare up to 4 providers

Quick summary of bad credit installment loans in Calgary

  • A type of personal loan designed for fair to bad credit
  • No collateral required
  • Borrow $500 to $15,000
  • Repay with equal payments in 6 - 60 months, sometimes shorter
  • 18% to 46.96% APR

Pros and cons of bad credit installment loans


  • Easy to apply. Apply in less than 10 minutes. Get fast personal loan pre-approval to compare your options and get the lowest rate.
  • Fast access to funds. While times vary between lenders, you can access your loan funds within 24–48 hours.
  • Easy to qualify. Bad credit personal loan lenders have less strict eligibility requirements than traditional lenders. They look beyond your credit score and consider your income and employment to determine your ability to repay the loan.
  • Advantages over payday loans. Bad credit installment loans in Calgary offer higher loan amounts and longer terms than payday loans.


  • Expensive. If you have bad credit, lenders will offer you higher rates than borrowers with good credit. Check the annual percentage rate (APR) to find out the true cost of a loan, and check the fine print for any extra fees, such as NSF fees, late payment fees and prepayment penalties.
  • Watch out for long terms. Longer loan terms will lower your monthly payment, but this means you’ll end up paying more interest overall.
  • Disreputable lenders. Unfortunately, sketchy providers target borrowers with bad credit, so research a lender carefully before applying. Check out our guide to personal loan scams for more information.

Eligibility requirements of bad credit installment loans in Calgary

The exact criteria you need to take out a bad credit installment loan vary between lenders. Generally speaking, you’ll need to meet the following criteria:

  • Be 18 years of age or older
  • Be a Canadian citizen or permanent resident
  • Be employed with a steady source of income
  • Have a valid bank account
  • Meet the credit score requirement

Questions to ask before you apply

  • How much will it cost overall? Don’t just look at the monthly payment. Work out the total payments over the life of the loan, and calculate how much of those is interest.
  • Can I manage the loan repayments? Can you afford having the monthly payment as part of your budget? Remember to leave room in your budget for essential expenses as well as unexpected bills.
  • Can I pay it off early without any penalties? Many lenders do not charge this fee. If there are no prepayment penalties on your loan and you come into some extra money, you can pay off your debt sooner and save on interest.
  • Will it improve my credit score? Check whether your lender will report your payments to credit bureaus to help you boost your credit score. Not all lenders do this.
  • Is the lender legitimate? Make sure you check whether the lender is registered in Alberta and a legitimate loan provider. Avoid lenders with red flags such as promising guaranteed approval, a lack of transparency about the cost of a loan or trying to pressure you into taking out a loan.

How to apply for bad credit personal loans in Calgary

Apply for bad credit loans in Calgary by completing these steps:

  1. Check your credit score. If you haven’t done it yet, get your credit score to find out just how “bad” it is. This will give you a better idea of which lenders you should consider.
  2. Find lenders. Next, search for lenders that offer bad credit loans in Calgary. Find out what eligibility requirements each lender has, and make sure you’re only dealing with legitimate lenders.
  3. Compare loans. Now it’s time to compare individual loans to decide which one is right for you. Some lenders offer personal loan pre-approval, which lets you know how much the loan will cost before you proceed with the rest of the application. Look at the APR, loan amount, loan term and repayment flexibility when comparing your options.
  4. Submit an application. Once you’ve found the ideal loan, apply online. You’ll need to provide your name and contact information, proof of ID and details of your income and employment.
  5. Review the loan offer. Read the loan agreement carefully before you sign. Double-check the interest rate, fees, loan term and amount carefully. The money will typically be sent to your account within 24–48 hours.

Bad credit installment loans if you prefer to visit a branch

Prefer to visit a branch in person to take out a loan? Here are a few options you might like to consider.

LenderLoan amountLoan termAPRLocation in Calgary
Blue Copper Capital$1,000 – $100,0006 - 36 months14% - 33%1 location (5809 Macleod Trail SW #104)
easyfinancial$500 – $100,0009 - 120 months9.99% – 46.96%8+ locations
Money Mart$500 – $15,00012 - 60 months29.90% - 46.90%15+ locations
Cash Money$500 – $10,0006 - 60 months46.93%15+ locations

Compare payday loans for bad credit in Calgary

1 - 1 of 1
Name Product Loan Amount Loan Term Interest Rate Turnaround Time Serviced Provinces Offer Table description
iCASH Payday Loan
$100 - $1,500
7 - 62 days
Varies by province
As little as 2 minutes with INTERAC e-Transfer
Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.
24/7 instant approval and e-Transfer funding. Income of at least $800/month required.

Compare up to 4 providers

Quick summary of payday loans in Calgary

  • Designed for bad credit and speedy funding
  • No collateral required
  • Borrow $100 to $1,500
  • Repay in at least two installments within 42 - 62 days
  • $15 for every $100 borrowed

Pros and cons of payday loans


  • Easy online application. You can often complete an application in just a few minutes.
  • Fast access to funds. Get your money in as little as one hour.
  • Flexible eligibility criteria. Payday lenders will look past your credit score and will focus on your income instead. They can accept non-employment income such as government benefits and private pensions.


  • Extremely expensive. With APRs in the triple digits, payday loans should only be a last resort.
  • Disreputable lenders. Make sure any lender you choose has an Alberta payday loan licence and complies with all payday lending regulations in the province.
  • Short loan terms. Payday loans in Alberta must have terms ranging from 42 - 62 days, so keep in mind that you only have a very short period to pay back the money you borrow.

Eligibility requirements of bad credit payday loans in Calgary

Eligibility criteria vary from one lender to the next. However, to qualify for a bad credit payday loan, you will usually need to meet the following criteria:

  • Be at least 18 years old
  • Be a Canadian citizen or resident
  • Have a recurring income
  • Have a valid bank account

Questions to ask before you apply

  • Is the lender licensed? Use the Service Alberta website to check whether the lender has a valid payday loan licence. If they don’t, walk away. Find out more in our guide to legit payday lenders.
  • Does the lender have an established presence? Check whether the lender has a physical address for their head office and whether they can be contacted via phone and email. You can also read reviews from other customers on independent websites.
  • Will I have enough money left after I repay my loan? Remember: you only have a very short time to repay a payday loan, so it’s essential that you’re certain you can afford it. Check whether you’ll still be able to afford all your other regular expenses after paying back the loan.
  • Are there alternatives I haven’t considered? From bad credit personal loans to debt consolidation, there are several payday loan alternatives available. Applying for a personal loan with a cosigner can also help you get better loan terms, so consider all other options before applying for a payday loan.

How to apply for bad credit payday loans in Calgary

You can apply for bad credit payday loans in Calgary either online or by visiting a lender’s branch in person. Complete the following steps:

  1. Provide your details. Provide your name, date of birth, contact details, housing situation and employment information. The lender may also require one or two references, such as friends or family members.
  2. Get approved. The fastest payday lenders can give instant approval with their automated systems.
  3. Read your contract. Double-check all the details of the loan offer and then submit it when you’re ready.
  4. Get your money. Once you’ve submitted your signed contract, you’ll get your money within a few minutes via Interac e-Transfer.

Bad credit payday loans if you prefer to visit a Calgary branch

If you’d rather visit a branch to take out a bad credit payday loan in Calgary, you might want to check out some of the providers in the table below.

LenderLoan amountLoan termInterest rateLocation in Calgary
Blue Copper CapitalUp to $1,50042 - 62 days$15 for every $100 borrowed1 location (5809 Macleod Trail SW #104)
Money Mart$120 – $1,50042 - 62 days$15 for every $100 borrowed15+ locations

Tips to get the best bad credit loan in Calgary

No matter whether you’re comparing installment loans or payday loans, keep the following tips in mind to help find a bad credit loan that suits your needs:

  • Understand your financial situation. If you’re deep in debt or struggling to make ends meet, it can be difficult to know where to start to get your finances back on track. That’s where free credit counselling can help you get a handle on your money situation and learn how to better manage your debt.
  • Improve your borrowing power. Before you apply for a loan, consider whether there’s anything you can do to increase your chances of approval with multiple lenders so you can pick the best offer. For example, can you pay down existing debt to improve your debt-to-income ratio? Can you apply with a cosigner to get a better rate? Is your bank account free of NSF transactions in the last 90 days (and if not, can you wait to apply)
  • Don’t borrow more than you can afford. Sit down and work out a monthly budget, including some wiggle room for any unexpected bills that drop into your inbox – how much is left after that to go towards your loan repayments.

Frequently asked questions

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