Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Bad credit loans in Quebec

Find out if a bad credit loan is the right fit for you and compare lenders in Quebec.

1 - 7 of 7
Name Product Interest Rate Loan Amount Loan Term Requirements
Loanz Personal Loan
29.90% - 46.90%
$1,000 - $15,000
12 - 60 months
Requirements: min. credit score 570, min. income $1,200/month, 3+ months employed
Loans Canada Personal Loan
5.4% - 46.96%
$300 - $50,000
4 - 60 months
Requirements: min. credit score 300
Spring Financial Personal Loan
9.99% - 46.96%
$500 - $35,000
9 - 48 months
Requirements: min. income $1,800/month, 3+ months employed, min. credit score 500
LoanConnect Personal Loan
6.99% - 46.96%
$100 - $50,000
3 - 120 months
Requirements: min. credit score 300
Loans Canada Installment Loan
8.00% - 46.96%
$500 - $50,000
4 - 60 months
Requirements: min. credit score 300
Spring Financial Installment Loan
9.99% - 46.96%
$500 - $35,000
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

Compare up to 4 providers

If you’re struggling with bad credit, it can be more challenging to qualify for credit or to get approved for a loan. However, you might be able to qualify for a bad credit loan in Quebec. Find out what types of loans you might be able to get access to and compare lenders.

How do bad credit loans work?

If you need to cover unexpected or emergency expenses, you might be looking at loans for bad credit in Quebec. These types of loans are just like regular loans, except they’re designed for borrowers with low credit scores. This means they usually come with higher interest rates and stricter repayment terms. Most will also come in the form of installment loans, where you’ll make repayments monthly over a set term.

The only requirement for most bad credit loans in Quebec, is that you have enough income coming in to be able to realistically pay them back. You’ll have to show proof of income (which can also be in the form of EI, disability assistance or the Canada Child Benefit). If you’re approved, you’ll be required to pay your loan back on time or your credit score will take a hit.

What is considered to be bad credit in Quebec?

Credit scores in Canada range from 300 to 900, with 600 being the mark of “fair credit”. A bad credit score in Quebec usually sits below this number. If you want to get approved for a loan, you’re more likely to qualify if you’re closer to 600. If you’re down around 300 to 400, you might need to start looking at other options.

What bad credit loan options do I have in Quebec?

  • Secured loans. Secured loans come with the best interest rates because they’re secured against some form of collateral (like your house or vehicle). These loans are riskier for you (the borrower) since the lender can sell off your asset if you don’t make your repayments on time.
  • Unsecured loans. Unsecured loans rely more heavily on your credit score, so you won’t have to put up an asset to take money out. These loans are riskier for lenders because they have no way to reclaim their money if you default on your loan. The risk to you is that your credit score will go down if you don’t make your payments.
  • Guarantor loans. If you have someone with good credit who’s willing to cosign your loan, you may be eligible for lower interest rates and a bigger loan. Keep in mind that your cosigner will be saddled with the repayments if you don’t hold up your end of the bargain.
  • Installment loans. Installment loans are a type of quick loan in Quebec. They typically have smaller loan amounts, shorter loan terms and higher interest rates than the average personal loan.

Benefits and drawbacks of bad credit loans


  • Designed for bad credit.Bad credit loans are specifically designed for borrowers who have a credit score below 600 (and can’t qualify for traditional loans).
  • Quick cash. They are a quick way to get cash if you need to cover unexpected or emergency expenses.
  • Online application. Many online lenders offer bad credit loans, so you can apply from the comfort of your own home.
  • Can build your credit score. If you take out a credit builder loan, your lender will report your on-time payments to the credit bureau, which can help to build your credit score.


  • High interest rates. You’ll pay much more in interest for bad credit loans in Quebec, so it’s best to take them out over a shorter period of time.
  • Smaller amounts. If your credit score is low, the amount you’re eligible to receive will usually be smaller.
  • Rigid repayment terms. Lenders will have less flexibility with repayment and you may risk losing the collateral you put up to secure your payments if you can’t make them.
  • Require proof of income. You’ll need to prove that you have enough money coming in to cover your debt. This can include showing proof of income from employment, pension or government benefits.

How do I apply for a bad credit loan?

If you’ve decided that a bad credit loan is the right fit for you, then you’ll need to follow a couple of simple steps to apply.

  1. Compare lenders. The best way to find the right loan for you is to compare three to four lenders in the table above. Look for the best interest rates and terms for your loan.
  2. Fill out your application. Most places will ask you to provide your personal and banking info through an online or in-person application.
  3. Apply for loans selectively. You should apply for one loan at a time since your credit score will go down every time a lender checks your credit.
  4. Verify your identity. You’ll need to prove your identity by providing a government-issued piece of ID like your Quebec driver’s licence or passport.
  5. Show proof of income. You’ll have to submit pay stubs, tax returns or bank statements to show that you have enough money to make repayments.

Other options available for people struggling with bad credit

  • Government subsidies. You should look into government subsidies like social or child assistance payments sponsored by the government of Quebec.
  • Credit builder loans. Lenders will report every on-time payment you make to help you build your credit score faster.
  • Credit counselling services. If your credit score is really low and you feel like you’re drowning in debt, consider visiting a credit counselling service that can help you tackle your bad credit so you can get back on your feet.
  • Borrowing from friends or family. You may need to swallow your pride and ask your family or friends for support. It’s possible that they can also help you by cosigning a loan so that you get better interest rates or a larger amount.

How to improve your credit score

Got some time? Consider taking steps to improve your credit score before you apply to qualify for lower rates, higher amounts and an all-around better deal:

  • Check your credit report for mistakes that could be negatively affecting your credit, and contact the creditor if you see anything off.
  • Stay on top of your bills and reach out to your creditors if you think you might be late on a payment. The most important factor in your credit score is your history of on-time repayments.
  • Pay off debts can increase your credit score and make it easier to qualify for a loan when you apply. Focus on paying off higher-interest debts to save the most on interest.
  • Keep your credit cards open even after you pay off your credit card debt. The more access to unused credit you have, the lower your credit utilization ratio — which also plays into your credit score.
  • Consider a credit-builder loan if your credit history is too thin. A credit-builder loan can add a history of positive repayments to your credit report — often while helping you build an emergency fund.

Bottom line

If you have bad credit and want to take out a loan in Quebec, you have options. Learn how to apply for bad credit loans and explore some alternatives if you don’t think they’re the right fit for you.

Frequently asked questions about bad credit loans

More guides on Finder

    Go to site