BC-Loans review

Our verdict

Our verdict

BC-Loans is a brokerage firm that offers access to loans of $500–$750. The loan can be paid back in installments over a term of 90 - 120 days, and there are no credit checks. However, you'll need to watch out for high interest rates and a brokerage fee. In addition, the available loan amount may not be suitable for your needs.

Best for: Borrowers with bad credit who need a small loan

Pros

• Quick and easy application process
• Bad credit accepted
• Same-day funding

Cons

• Small loan amounts won't suit everyone
• Not available in all provinces
• Doesn't accept some forms of income

BC-Loans Personal Loans is not currently available on Finder

Have you considered Loans Canada Personal Loan?

A broker with the largest lender network in Canada. Fill out one application and get matched for free with lenders.

• Bad credit doesn’t matter because Loans Canada will match you with a lender for your particular situation
• Easy online application to connect with multiple lenders
• Quick deposits, with access to your cash within 1-3 business days from the time that you apply
• High loan amounts of up to $50,000
• No collateral required to secure your loan

Learn more

No thanks, compare other personal loans options.

Learn more

Loan Amount

$500 - $750

Loan Term

90 - 120 days

Interest Rate

28.00% - 32.00%

What is BC-Loans?

BC-Loans is an online brokerage. It connects borrowers who have poor credit or no credit history with lenders that offer installment loans ranging from $500 – $750.

The money you borrow must be repaid over a loan term of 90 - 120 days, with the length of the term varying depending on your payroll frequency.

Is BC-Loans legit?

Yes. Founded in 2013, BC-Loans has an active online presence and plenty of positive customer reviews. It is a division of Dominion Broker Inc., which can be found in Canada’s business registry.

Summary of BC-Loans installment loans

What we like about BC-Loans

• Quick and easy application process. You can apply online for a loan within minutes. Once you’re approved, the funds are sent to your account the same day.
• Instant verification. BC-Loans uses instant verification to access a “view-only” version of your bank account. This allows them to assess your income and speeds up the application process.
• No credit checks. You won’t need to undergo a credit check to qualify for a loan. Learn more about no credit check loans.
• Longer repayment terms than a payday loan. Depending on how often your income is paid, you can repay your loan over a period of 90–120 days. This is a longer term than a payday loan, which makes it easier to budget for repayments.
• Deposit options. If you’re a new customer, the funds are sent to your account by instant deposit or direct deposit. Returning customers also have the option of an e-Transfer (for a fee).

What to watch out for

• Low loan amounts. First-time borrowers with BC-Loans are limited to amounts of $500, while the maximum amount the lender offers is $750.
• High interest rates. The APR on loans ranges from 28.00% - 32.00% , so it’s worth shopping around to find out if you can find a lower interest rate from other lenders.
• Fees. You’ll need to pay a brokerage fee when you take out a loan with BC-Loans. Fees also apply if you have insufficient funds or if you need to defer a loan repayment.
• Not available in all provinces. BC-Loans does not offer loans in Saskatchewan, Manitoba, Newfoundland and Labrador or Quebec.
• Not a direct lender. Be aware that BC-Loans is a broker, not a lender, so you don’t borrow directly from BC-Loans.

Alternatives to BC-Loans

Sort by:

Name	Product	Interest Rate	Loan Amount	Loan Term	Requirements
LoansLoans.ca Installment Loan LoansLoans.ca Installment Loan		28.00% - 32.00% + broker fee	$300 - $1,750	3 - 12 months	Requirements: min. income $1,200/month, 2+ months employed. No credit check required. Note: You may be charged a broker fee up to $300.	Go to site View details	Compare	loading Fetching your data...
Spring Financial Installment Loan Spring Financial Installment Loan		9.99% - 46.96%	$500 - $35,000	6 - 60 months	Requirements: min. income $1,800/month, 3+ months employed, min. credit score 500	Go to site View details	Compare	loading Fetching your data...
Loans Canada Installment Loan Loans Canada Installment Loan		8.00% - 46.96%	$500 - $50,000	4 - 60 months	Requirements: min. credit score 300	Go to site View details	Compare	loading Fetching your data...
SkyCap Installment Loan SkyCap Installment Loan		19.99% - 39.99%	$500 - $15,000	9 - 60 months	Requirements: min. income $3,333/month, full time employment/pension, min. credit score 600, no bankruptcy	Go to site View details	Compare	loading Fetching your data...
LoanConnect Installment Loan LoanConnect Installment Loan		32.00%	$500 - $2,500	3 - 6 months	Requirements: min. credit score 300	Go to site View details	Compare	loading Fetching your data...
Mogo Installment Loan 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.	Go to site View details	Compare	loading Fetching your data...

loading

CompareClear

Summary of BC-Loans reviews

Am I eligible for a loan?

You’ll need to satisfy the following criteria to qualify for funding from BC-Loans:

• Be 18 years of age or older
• Earn over $1,200 per month from an employer
• Be a Canadian citizen
• Be paid by direct deposit or cheque in a Canadian bank account that has been active for at least three months
• Not be planning to declare bankruptcy or to enter into a consumer proposal
• Have little or no NSF transactions
• Have a low short-term debt ratio

How to apply for a BC-Loans installment loan

Here’s what you need to do to apply for a loan:

1. Head to the BC-Loans website and click “Apply for a loan”.
2. Enter your name, email address and phone number.
3. Provide your date of birth, gender and SIN.
4. Enter your address.
5. Provide your income information and frequency.
6. Enter your bank account details and select how you would like to receive your funds.
7. Provide the details of your safety contact and submit your application.

How can I contact BC-Loans?

You can contact BC-Loans by phone, email or by filling out an online form. Its customer service team is available Monday to Friday.

Bottom line

If you’ve got bad credit and you’re looking for a small loan of $750 or less, BC-Loans is worth a closer look. However, make sure to compare BC-Loans with a range of other lenders to find the lowest rate and loan terms that suit your needs.

Frequently asked questions about BC-Loans

• Are there any forms of income that BC-Loans does not accept?

  Yes. BC-Loans will not accept retirement income, disability income, insurance income, social assistance, student loans, child tax or self-employment income when you apply for a loan.

• Do I need to submit any documents to apply with BC-Loans?

  No. BC-Loans has a paperless application process and uses online bank account and identity verification.

• What happens if I miss a payment?

  If you miss a loan payment, you'll be charged an insufficient funds fee of $45. Interest is also charged at 32% per annum.

• How many installments do I have to pay back my loan?

  You could pay the loan back in three, six or 12 installments, depending on how often you receive income.

You might also be interested in...

E-Transfer payday loans in Canada 24/7

{"menuItems":[{"label":"What is BC-Loans?","anchorName":"#what-is-bc-loans"},{"label":"Is BC-Loans legit?","anchorName":"#is-bc-loans-legit"},{"label":"Summary of BC-Loans installment loans","anchorName":"#summary-of-bc-loans-installment-loans"},{"label":"What we like about BC-Loans","anchorName":"#what-we-like-about-bc-loans"},{"label":"What to watch out for","anchorName":"#what-to-watch-out-for"},{"label":"Alternatives to BC-Loans","anchorName":"#product-comparison-box"},{"label":"Summary of BC-Loans reviews","anchorName":"#summary-of-bc-loans-reviews"},{"label":"Am I eligible for a loan?","anchorName":"#am-i-eligible-for-a-loan"},{"label":"How to apply for a BC-Loans installment loan","anchorName":"#how-to-apply-for-a-bc-loans-installment-loan"},{"label":"How can I contact BC-Loans?","anchorName":"#how-can-i-contact-bc-loans"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions about BC-Loans","anchorName":"#frequently-asked-questions-about-bc-loans"}]}

Find out which licensed lenders can e-Transfer payday loans in Canada, including those that e-Transfer payday loans 24/7.

Read more…

23 best bad credit loans in Canada

{"menuItems":[{"label":"What is BC-Loans?","anchorName":"#what-is-bc-loans"},{"label":"Is BC-Loans legit?","anchorName":"#is-bc-loans-legit"},{"label":"Summary of BC-Loans installment loans","anchorName":"#summary-of-bc-loans-installment-loans"},{"label":"What we like about BC-Loans","anchorName":"#what-we-like-about-bc-loans"},{"label":"What to watch out for","anchorName":"#what-to-watch-out-for"},{"label":"Alternatives to BC-Loans","anchorName":"#product-comparison-box"},{"label":"Summary of BC-Loans reviews","anchorName":"#summary-of-bc-loans-reviews"},{"label":"Am I eligible for a loan?","anchorName":"#am-i-eligible-for-a-loan"},{"label":"How to apply for a BC-Loans installment loan","anchorName":"#how-to-apply-for-a-bc-loans-installment-loan"},{"label":"How can I contact BC-Loans?","anchorName":"#how-can-i-contact-bc-loans"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions about BC-Loans","anchorName":"#frequently-asked-questions-about-bc-loans"}]}

Compare the best bad credit loans in Canada. Apply online and get your loan within 24 to 48 hours.

Read more…

15 best cash loans in Canada

{"menuItems":[{"label":"What is BC-Loans?","anchorName":"#what-is-bc-loans"},{"label":"Is BC-Loans legit?","anchorName":"#is-bc-loans-legit"},{"label":"Summary of BC-Loans installment loans","anchorName":"#summary-of-bc-loans-installment-loans"},{"label":"What we like about BC-Loans","anchorName":"#what-we-like-about-bc-loans"},{"label":"What to watch out for","anchorName":"#what-to-watch-out-for"},{"label":"Alternatives to BC-Loans","anchorName":"#product-comparison-box"},{"label":"Summary of BC-Loans reviews","anchorName":"#summary-of-bc-loans-reviews"},{"label":"Am I eligible for a loan?","anchorName":"#am-i-eligible-for-a-loan"},{"label":"How to apply for a BC-Loans installment loan","anchorName":"#how-to-apply-for-a-bc-loans-installment-loan"},{"label":"How can I contact BC-Loans?","anchorName":"#how-can-i-contact-bc-loans"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions about BC-Loans","anchorName":"#frequently-asked-questions-about-bc-loans"}]}

The lenders and loans to consider when you need a short-term loan.

Read more…

15 no credit check loans in Canada

{"menuItems":[{"label":"What is BC-Loans?","anchorName":"#what-is-bc-loans"},{"label":"Is BC-Loans legit?","anchorName":"#is-bc-loans-legit"},{"label":"Summary of BC-Loans installment loans","anchorName":"#summary-of-bc-loans-installment-loans"},{"label":"What we like about BC-Loans","anchorName":"#what-we-like-about-bc-loans"},{"label":"What to watch out for","anchorName":"#what-to-watch-out-for"},{"label":"Alternatives to BC-Loans","anchorName":"#product-comparison-box"},{"label":"Summary of BC-Loans reviews","anchorName":"#summary-of-bc-loans-reviews"},{"label":"Am I eligible for a loan?","anchorName":"#am-i-eligible-for-a-loan"},{"label":"How to apply for a BC-Loans installment loan","anchorName":"#how-to-apply-for-a-bc-loans-installment-loan"},{"label":"How can I contact BC-Loans?","anchorName":"#how-can-i-contact-bc-loans"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions about BC-Loans","anchorName":"#frequently-asked-questions-about-bc-loans"}]}

Here’s how to find the right no credit check loan for you.

Read more…

6 fast and easy loans in Canada: Apply online

{"menuItems":[{"label":"What is BC-Loans?","anchorName":"#what-is-bc-loans"},{"label":"Is BC-Loans legit?","anchorName":"#is-bc-loans-legit"},{"label":"Summary of BC-Loans installment loans","anchorName":"#summary-of-bc-loans-installment-loans"},{"label":"What we like about BC-Loans","anchorName":"#what-we-like-about-bc-loans"},{"label":"What to watch out for","anchorName":"#what-to-watch-out-for"},{"label":"Alternatives to BC-Loans","anchorName":"#product-comparison-box"},{"label":"Summary of BC-Loans reviews","anchorName":"#summary-of-bc-loans-reviews"},{"label":"Am I eligible for a loan?","anchorName":"#am-i-eligible-for-a-loan"},{"label":"How to apply for a BC-Loans installment loan","anchorName":"#how-to-apply-for-a-bc-loans-installment-loan"},{"label":"How can I contact BC-Loans?","anchorName":"#how-can-i-contact-bc-loans"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions about BC-Loans","anchorName":"#frequently-asked-questions-about-bc-loans"}]}

Here are 6 easy loans to get in Canada, but watch out for high interest rates.

Read more…

18 fast emergency loans in Canada

{"menuItems":[{"label":"What is BC-Loans?","anchorName":"#what-is-bc-loans"},{"label":"Is BC-Loans legit?","anchorName":"#is-bc-loans-legit"},{"label":"Summary of BC-Loans installment loans","anchorName":"#summary-of-bc-loans-installment-loans"},{"label":"What we like about BC-Loans","anchorName":"#what-we-like-about-bc-loans"},{"label":"What to watch out for","anchorName":"#what-to-watch-out-for"},{"label":"Alternatives to BC-Loans","anchorName":"#product-comparison-box"},{"label":"Summary of BC-Loans reviews","anchorName":"#summary-of-bc-loans-reviews"},{"label":"Am I eligible for a loan?","anchorName":"#am-i-eligible-for-a-loan"},{"label":"How to apply for a BC-Loans installment loan","anchorName":"#how-to-apply-for-a-bc-loans-installment-loan"},{"label":"How can I contact BC-Loans?","anchorName":"#how-can-i-contact-bc-loans"},{"label":"Bottom line","anchorName":"#bottom-line"},{"label":"Frequently asked questions about BC-Loans","anchorName":"#frequently-asked-questions-about-bc-loans"}]}

Compare the best emergency loans in Canada.

Read more…