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23 best bad credit loans in Canada

Apply for the best bad credit loans in Canada and get fast approval and funding.

Having bad credit shouldn’t prevent you from getting financing, and you can often use a new loan to rebuild your credit. Just be prepared for steep interest rates because applicants with bad credit have a higher chance of defaulting in lenders’ eyes. If you’re looking for a bad credit loan, here are 23 of the best bad credit personal loans in Canada. No single loan will be the best choice for everyone, so consider your personal situation and compare options before applying.

23 best bad credit loans in Canada

Loan providerInterest rateLoan amountLoan termKey features
LoanConnect6.99% - 46.96%$100–$50,0003 - 120 monthsSearch platform for loans, pre-approval in 5 minutesGo to siteLearn more
Loans Canada5.4% - 46.96%$300–$50,0004 - 60 monthsSearch platform for loans, largest lender networkGo to siteLearn more
SkyCap19.99% - 39.99%$500–$15,0009 - 60 monthsGood customer service, affordable paymentsGo to siteLearn more
Loanz29.90% - 46.90%$1,000–$15,00012 - 60 monthsInstant decisions, funding in 15 minutesLearn more
Mogo9.90% - 46.96%$200–$35,0006 - 60 monthsQuotes in 3 minutes, flexible eligibility requirementsGo to siteLearn more
Fairstone19.99% - 24.49%$5,000–$50,00036 - 120 monthsQuick quotes, secured and unsecured loansGo to siteLearn more
Magical Credit19.99% - 46.80%$1,500–$20,00012 months - 5 yearsApproval in 1 day, low income or non-employment income are okayGo to siteLearn more
LendingMate43.00%
    $2,000–$10,00012 - 60 monthsNo credit check but cosigner requiredLearn more
    FlexMoney18.90% - 46.93%$500–$15,0006 - 60 monthsInstant decisions, same day fundingLearn more
    easyfinancial9.99% – 46.96%$500–$100,0009 - 120 monthsApproval in 30 minutes, flexible eligibility requirementsLearn more
    Blue Copper Capital14% - 33%$1,000–$100,0006 - 36 monthsGood customer service, offers personal and payday loansLearn more
    Money Mart29.90% - 46.90%$500–$15,00012 - 60 monthsInstant decisions, offers personal and payday loansLearn more
    Prudent Financial5.75% - 9.9% + feesUp to $100,000Not disclosedApproval in as little as 30 minutes, collateral requiredLearn more
    Progressa19% - 46.95%$1,000–$15,0006 - 60 monthsApproval in as little as 30 minutes, debt consolidation loansLearn more
    Lend for AllFrom 5.9%$300–$50,00012 - 60 monthsSearch platform for loans, secured and unsecured loansLearn more
    24Cash22% + broker fee$500–$85090 - 150 daysNo credit check, funding in 24 hoursLearn more
    AAR Financial14.99% - 46.70%$500–$50,00025 - 120 monthsSecured and unsecured loans, high approval rateLearn more
    PYLO15.99% - 39.99%$500–$15,0006 - 60 monthsPre-approval within minutes, accepts CPP and OASLearn more
    Fast Access Financial15.75% - 58.99%$1,000–$5,00012 - 36 monthsApproval in 24 hours, secured and unsecured loansLearn more
    Tribecca FinanceNot disclosedNot disclosedNot disclosedGood customer service, secured and unsecured loansLearn more
    marble Fast Track Loan18.99% – 24.99%$5,000–$15,00036 - 84 monthsLoan to pay off consumer proposal, instant credit score increaseLearn more
    Capital One Guaranteed Mastercard19.8% + $59 annual feeUp to $7,000 credit limitNot applicable$75-$300 deposit required as collateral, pre-approval with no risk to credit scoreLearn more
    Canada Post MyMoney Loan

    Temporarily unavailable

    9.98% - 21.03%$1,000–$30,0001 - 7 yearsStricter eligibility requirements, funded through TDLearn more

    How we chose the best bad credit loans in Canada

    We’ve chosen the products on this page based on the providers available through Finder and online in the Canadian loans marketplace. These loans are not representative of the entire market.

    When choosing our picks for the best bad credit loans in Canada, we considered each lender’s rates, fees, terms, borrowing amounts, application process, funding speed, eligibility requirements, customer support and feedback, associations, accreditations and perks for borrowers. No single personal loan will be the best choice for everyone, so compare your options before applying.

    How to get the best loan with bad credit in Canada

    1. Compare lenders. Compare features such as annual percentage rates (APRs), fees, loan amounts, loan terms and eligibility requirements.
    2. Apply to top choices. Pick the best bad credit loans for you and apply. You’ll need to give personal details such as name, contact information, housing information and employment details.
    3. Get pre-approved. Many lenders give a decision within minutes. Getting personal loan pre-approval allows you to compare multiple offers.
    4. Choose the best offer. Pick the best bad credit loan and proceed. Your lender may ask you to provide extra information or documents.
    5. Get approved. Your lender will verify your income and identity and give approval if everything checks out.
    6. Submit the contract. Review your contract carefully and sign when you’re ready. Get your money on the same day or the next day.

    Am I eligible for the best bad credit loans in Canada?

    Before you proceed with any application, check the lender’s eligibility criteria to save time and effort. Here are the basic eligibility requirements you may come across:

    • Be at least 18 years old or the age of majority in your province.
    • Be a Canadian citizen or resident.
    • Meet the minimum income or employment requirements.
    • Meet minimum credit score requirements, if applicable.
    • Have an active bank account.

    How to compare the best bad credit loans in Canada

    Not all bad credit lenders are the same. Consider the following as you compare the best bad credit loans in Canada:

    • APR. This is the annual interest rate plus financing fees you must pay to get your loan. Focusing on the APR rather than the interest rate will give you a clearer idea of the cost of the loan.
    • Extra fees. Look at what else the lender may charge you besides interest and financing fees, such as prepayment penalties, late payment fees and NSF fees.
    • Loan amounts. Lenders may differ in how much they’re willing to lend to you.
    • Loan terms. Get the shortest loan term possible with payments that you can still manage. The longer the loan term, the more you’ll pay in interest.
    • Eligibility requirements. Lenders differ in what they can approve. For example, some are open to non-employment income such as government benefits, while others require full-time employment.
    • Reputation. Check consumer review sites like Trustpilot and Better Business Bureau for reviews about the lender. If you see a recent pattern of complaints, you may want to consider another lender.
    • Improves credit score. Confirm that the lender you’re interested in will report your on-time payments to the credit bureaus.

    5 tips to get approved for the best bad credit loans in Canada

    • Rebuild your credit first. If you can wait at least 6 months, improve your credit score first by making on-time payments for your other bills and debts.
    • Compare offers. If you don’t have the time to rebuild your credit, take the time to prequalify with a few lenders to find the best loan offer available to you.
    • Apply with a guarantor. If you have a family member or friend with good credit, adding them to your application will increase your chances of approval. However, if you fail to make your loan repayments, your guarantor will need to pay on your behalf, so make sure they know what they’re committing to.
    • Opt for a secured loan. Offering collateral such as your house or car reduces the risk for the lender and increases your chances of getting approved.
    • Watch out for scams. Be on the look out for personal loan scams. If an offer sounds too good to be true, chances are it isn’t legitimate. People in a desperate financial situation are often targeted, so only apply to a site you trust. You can also browse the table above for legitimate bad credit lenders.

    How much will my bad credit personal loan cost me?

    The cost of your bad credit personal loan will depend on the loan amount, interest rate and loan term. As an example, if you get a $5,000 loan at 29.99% APR over 3 years, here’s the cost breakdown:

    • Loan amount: $5,000
    • APR: 29.99%
    • Loan term: 3 years
    • Monthly payment: $212
    • Total cost: $7,640 ($2,640 interest)

    How high or low your interest rate will be will depend on personal factors, such as your credit score.

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        How to improve your credit score to get the best bad credit loans in Canada

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

        • Stay on top of your bills. The most important factor in your credit score is your history of on-time repayments. Reach out to your lender if you think you might be late to see if they can adjust your term.
        • Pay off debts. Having a high debt load can decrease your credit score and also makes it harder to qualify for a loan when you apply. Focus on higher-interest debts to save the most on interest.
        • Keep your credit cards open. After you pay off your credit card debt, keep those cards open. 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. These low-cost small-dollar loans are designed to add a history of positive repayments to your credit report — often while helping you build an emergency fund. Learn more about credit builder loans.

        How to rebuild credit

        23 best bad credit loans in Canada

        1. LoanConnect

        LoanConnect Personal Loan
        Finder Rating: ★★★★★ 4.6 / 5
        Go to site
        $100 – $50,000
        Loan amount
        6.99% – 46.96%
        APR
        3 - 120 months
        Term
        LoanConnect maintains a large database of lenders and matches you with several offers based on your unique profile. Get your loan as soon as the same day. Full Review

        Why we chose it

        • Large lender network. LoanConnect works with over 30 verified and vetted lenders with proven reputations.
        • Easy to compare offers. Fill out one application to compare offers from multiple lenders, and log in regularly to see if new offers are available.
        • Secured and unsecured loans. Find a secured loan if you have an eligible asset or get a loan with no collateral.
        • Pre-approval in five minutes
        • Options for all credit scores, including poor credit
        • BBB-accredited with an A+ rating
        • Fast funding
        • Secured and unsecured options
        • Not a direct lender
        • High rates for bad credit
        • Miss out on offers from lenders not partnered with LoanConnect
        Loan amount $100 – $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

        Loans Canada Personal Loan
        Finder Rating: ★★★★★ 4.5 / 5
        Go to site
        $300 – $50,000
        Loan amount
        5.4% – 46.96%
        APR
        4 - 60 months
        Term
        Loans Canada is an online broker partnered with over 60 lenders. Fill out one application and find out your matches for free. Full Review

        Why we chose it

        • Save time. Your application will be cast wide and you'll get your results right after you apply.
        • Get approved. Only see lenders that match your profile.
        • 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 of up to $50,000
        • No collateral required to secure your loan
        • Interest rates can reach as high as 46.96%
        • No online quotes provided
        Loan amount $300 – $50,000
        APR 5.4% – 46.96%
        Term 4 - 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. SkyCap

        SkyCap Financial Personal Loan
        Finder Rating: ★★★★★ 4.1 / 5
        Go to site
        $500 – $15,000
        Loan amount
        19.99% – 39.99%
        APR
        9 - 60 months
        Term
        SkyCap Financial is a BBB-accredited lender with hundreds of positive online reviews. It offers bad credit personal loans with no prepayment fees.
        Full Review

        Why we chose it

        • Customer-focused. SkyCap has a solid online reputation for helping customers get loans they can afford.
        • Upfront about rates and fees. It has transparent rates ranging from 19.99% to 39.99% and lists its fees on the company website.
        • Positive customer feedback. Customers indicate that SkyCap has very fast turnaround times for approval and funding, with professional and efficient customer service.
        • Low starting rate for bad credit loan
        • Fast, easy application process
        • Ethical business practices
        • No prepayment penalties
        • High rates for bad credit (capping out at 39.99%)
        • May not improve your credit score
        Loan amount $500 – $15,000
        APR 19.99% – 39.99%
        Term 9 - 60 months
        Interest Rate Type Fixed
        Min. Credit Score 575
        Fees No fees except a $50 NSF fee
        Turnaround Time 24 hours
        Serviced Provinces All provinces and territories except Quebec and Nova Scotia

        4. Loanz

        Loanz Personal Loan
        Finder Rating: ★★★★★ 3.5 / 5
        Go to site
        $1,000 – $15,000
        Loan amount
        29.9% – 46.9%
        APR
        12 - 60 months
        Term
        Loanz has a fast application process so you can get your money on the same day you apply. You just need to sign up for instant bank verification (you'll wait longer for manual verification). Full Review

        Why we chose it

        • Fast. Apply and connect with your banking details to get instant approval and receive funds in as little as 15 minutes.
        • Reports to credit bureaus. Loanz indicates that it will report every payment to the credit agencies, which is a perk that not all bad credit lenders offer.
        • Flexible eligibility requirements. Apply with bad credit and different forms of income, including government assistance.
        • Simple online application
        • Positive customer reviews
        • No prepayment penalties
        • High starting rates (29.9% 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)

        5. Mogo

        Mogo Personal Loan
        Finder Rating: ★★★★★ 4.5 / 5
        Go to site
        $200 – $35,000
        Loan amount
        9.9% – 46.96%
        APR
        6 - 60 months
        Term
        Mogo is a Canadian fintech company. It offers loans and other products such as credit cards, mortgages, a trading platform, credit score monitoring and fraud protection. Full Review

        Why we chose it

        • Quick quote with no impact to credit. Get a free quote in three minutes with no obligation and without lowering your credit score.
        • Easy online application. It's easy to set up an account and Mogo aims to give approval and funding within one to two days.
        • Convenient mobile app
        • No prepayment penalties
        • Free credit score monitoring for 90 days
        • 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. Fairstone

        Fairstone Secured Personal Loan
        Finder Rating: ★★★★★ 3.7 / 5
        Go to site
        $5,000 – $50,000
        Loan amount
        19.99% – 24.49%
        APR
        36 - 120 months
        Term
        Fairstone offers personal loans to customers with low credit. Apply online or visit a store in person at over 230 locations across Canada. Full Review

        Why we chose it

        • Apply without impacting your credit score. Fairstone will only do a soft credit check to pre-approve you for a loan, so it won't affect your credit.
        • Fast approvals. Apply for your loan in minutes and get a quick call from a loan agent to finalize your loan details, with funds deposited in 24 hours or less.
        • Secured and unsecured options. Apply based on your credit score or use your house to secure your loan to get lower interest rates.
        • Quick and easy application
        • Many loan types (unsecured, secured, mortgages)
        • Company has an established online presence
        • No prepayment penalties for unsecured loans
        • High rates for bad credit (up to 39.99%)
        • Potential for extra fees
        • Prepayment penalties for secured loans
        • Several negative customer reviews
        Loan amount $5,000 – $50,000
        APR 19.99% – 24.49%
        Term 36 - 120 months
        Interest Rate Type Fixed
        Min. Credit Score 560
        Fees Varies by province
        Turnaround Time 2+ days
        Serviced Provinces All across Canada

        7. Magical Credit

        $1,500 – $20,000
        Loan amount
        19.99% – 46.8%
        APR
        12 months - 5 years
        Term
        Magical Credit specializes in offering bad credit loans to low-income clients. Loans come with no prepayment penalties so you can pay them off whenever you want. Full Review

        Why we chose it

        • Instant decision. Apply online and validate your information with instant bank verification to get a fast loan decision (with funds sent in a few hours).
        • Helps rebuild credit. Magical Credit reports on-time payments to the credit bureaus to increase your credit score.
        • Flexible eligibility requirements. You can apply with bad credit and you don't have to be employed.
        • 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 19.99% and 46.8%
        • May charge a $194 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 months - 5 years
        Interest Rate Type Fixed
        Min. Credit Score 300
        Fees A single administration fee of $194 for $1,500 loans and up
        Turnaround Time Receive funds within as little as 24 hours
        Serviced Provinces Canada-wide (excluding Manitoba, Saskatchewan and Quebec)

        8. LendingMate

        LendingMate Personal Loan
        Finder Rating: ★★★★★ 2.5 / 5
        $2,000 – $10,000
        Loan amount
        43% – 43%
        APR
        12 - 60 months
        Term
        LendingMate is an online lender that offers guarantor loans up to $10,000. Apply with bad credit when you have an eligible cosigner and prepay your loan for free. Full Review

        Why we chose it

        • Specializes in bad credit personal loans with cosigners. All you need to qualify is a trusted friend or family member with good credit to cosign.
        • No credit check. There's no need for a credit check when you have a guarantor.
        • Flexible eligibility requirements. No minimum income or employment requirements. Bad credit will qualify with an eligible guarantor.
        • Large amounts of up to $10,000 with no credit check
        • Pay less for your loan with no hidden fees
        • Get funds within 24 hours of your guarantor being approved
        • Retired guarantors are okay (up to age 75)
        • Pay high annual interest rates of 43% across the board.
        • Guarantor is non-negotiable
        • funds will be deposited to their account
        • Only available in BC and Ontario
        Loan amount $2,000 – $10,000
        APR 43% – 43%
        Term 12 - 60 months
        Interest Rate Type Fixed
        Min. Credit Score 300
        Fees None
        Turnaround Time Within 24 hours of getting a cosigner approved
        Serviced Provinces BC and Ontario

        9. FlexMoney

        FlexMoney Personal Loan
        Finder Rating: ★★★★★ 4 / 5
        $500 – $15,000
        Loan amount
        18.9% – 46.93%
        APR
        6 - 60 months
        Term
        FlexMoney offers an easy online application with no need to upload documentation. Funds are usually released in 24 hours and you can prepay your loan with no penalty. Full Review

        Why we chose it

        • Instant decision. FlexMoney says it will make a decision on your application within 15 minutes.
        • Same-day or next-day funding. Funds are released within 24 hours, directly to your bank account.
        • Helps rebuild 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 46.93%
        • Minimum income required ($2,000 per month)
        • Must be employed
        Loan amount $500 – $15,000
        APR 18.9% – 46.93%
        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 and PEI

        10. easyfinancial

        easyfinancial Personal Loan
        500 – $100,000
        Loan amount
        9.99% – 46.96%
        APR
        9 - 120 months
        Term
        easyfinancial helps Canadians access financing when banks aren't an option. It offers loans, financial education and the opportunity to rebuild your credit. Full Review

        Why we chose it

        • Apply without impacting your credit score. Apply without impacting your credit score. Apply in minutes with no commitment and it won't affect your credit score.
        • Fast approvals. Get your money through Interac e-Transfer in as little as two hours after getting approved.
        • Helps improve your credit score. According to easyfinancial, one in three customers graduate to prime rates after making regular, on-time repayments.
        • Many loan types (unsecured, secured, business)

        • Large loan amounts &ndash
        • up to $20,000 for unsecured loans and $100,000 for secured loans
        • 2% rate reduction with a co-applicant
        • High starting rates for unsecured loans (29.99%)
        • 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
        Turnaround Time Within 30 minutes

        11. Blue Copper Capital

        Blue Copper Capital personal loan
        $1,000 – $100,000
        Loan amount
        14% – 33%
        APR
        6 - 36 months
        Term
        Blue Copper Capital offers many different forms of financing, including personal loans, payday loans, business loans and lines of credit.

        Why we chose it

        • Helps improve your credit score. Blue Copper Capital reports your personal loan payments to the credit bureau to help you improve your credit score.
        • Good customer service/high Trustpilot score. The company has solid customer reviews and is professional and helpful when contacted.
        • Easily apply online, in person or over the phone. Fill out an application online, call in to apply or apply in person in Calgary or Edmonton.
        • Loan approval in as little as 20 minutes
        • Join the customer club to get better rates and terms
        • No negative customer reviews that we could find
        • High interest rates (ranging from 14% - 33%)
        • Admin fee of 10% of the loan amount, up to $1,000
        • Company only works in Alberta and BC
        Loan amount $1,000 – $100,000
        APR 14% – 33%
        Term 6 - 36 months
        Interest Rate Type Fixed

        12. Money Mart

        Money Mart Installment Loan
        $500 – $15,000
        Loan amount
        29.9% – 46.9%
        APR
        12 - 60 months
        Term
        Money Mart offers installment and payday loans across Canada. There's no penalty to pay off your loan. Full Review

        Why we chose it

        • Fast. Fill out an application with quick approval and get your funds in under five minutes.
        • Apply online or at one of its many locations. Apply online, through the Money Mart mobile app or at one of the hundreds of locations across Canada.
        • Flexible eligibility requirements. You're likely to qualify as long as you have 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
        • NSF and late payment fees
        Loan amount $500 – $15,000
        APR 29.9% – 46.9%
        Term 12 - 60 months
        Interest Rate Type Fixed
        Min. Credit Score 300
        Fees None
        Turnaround Time Less than 1 day
        Serviced Provinces AB, BC, MB, NB, NL, NS, ON, PEI, SK

        13. Prudent Financial

        Prudent Financial personal loan
        Up to $100,000
        Loan amount
        N/A
        APR
        N/A
        Term
        Prudent Financial offers secured loans when you put up collateral such as your home or vehicle. It operates exclusively in the Greater Toronto Area.

        Why we chose it

        • Fast approvals. Get approved in as little as 30 minutes when you provide proof of 50% equity in your asset and meet eligibility requirements.
        • Defer payment for up to two weeks in an emergency. Call the company two to three business days before your payment is due to defer with no penalty.
        • Helps rebuild credit. Prudent reports all your loan payments to the credit bureau so when you pay on time, you get a better rating.
        • Easy application
        • Your car or house as collateral
        • Only advertises interest rates and not APRs
        • Potentially high APRs
        • Only available in the Toronto area
        • Several negative customer reviews
        Loan amount Up to $100,000
        APR N/A
        Term
        Interest Rate Type Fixed
        Serviced Provinces Ontario

        14. Progressa

        Progressa personal loan
        $1,000 – $15,000
        Loan amount
        19% – 46.95%
        APR
        6 - 60 months
        Term
        Progressa issues loans to help customers consolidate debts. The company pays debts directly when you take out a loan rather than depositing the funds in your account.

        Why we chose it

        • Helps rebuild 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.
        • Fast approvals. 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.
        • Flexible eligibility requirements. Get approved with bad credit. It also accepts EI, disability and other forms of government assistance as long as you have employment income.
        • BBB accredited with an A+ rating
        • Progressa pays creditors directly
        • The company works in all Canadian provinces except Quebec
        • Good customer reviews
        • High rates between 19% and 46.95%
        • 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
        Serviced Provinces All provinces and territories except Quebec

        15. Lend for All

        Lendforall loans
        $300 – $50,000
        Loan amount
        Starting at 5.9%
        APR
        12 - 60 months
        Term
        Lend for All is a loan-matching company that uses an automated process to match consumer and business applicants with various lenders and financial institutions. Full Review

        Why we chose it

        • Partnered with lenders. It works with a network of lenders that offer quick approval for customers with bad credit.
        • Fast pre-approvals. Lend for All provides quick approvals within minutes by doing a soft check on your credit report.
        • 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
        • Most partner rates are above 20% for unsecured loans
        Loan amount $300 – $50,000
        APR Starting at 5.9%
        Term 12 - 60 months
        Interest Rate Type Fixed
        Min. Credit Score 300
        Fees Varies by lender
        Serviced Provinces All provinces

        16. 24Cash

        24Cash personal loans
        $500 – $850
        Loan amount
        Starting at 22%
        APR
        90 - 150 days
        Term
        24Cash connects applicants to a short term installment loan with no credit check. It is an alternative to payday loans. Full Review

        Why we chose it

        • Approval in one hour. Apply with instant bank verification and get approved quickly.
        • Easy application. 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 presence. The company is active online and has solid customer reviews on Google and Trustpilot.
        • 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
        • High interest rates of around 26%
        • Low maximum amount (under $1,000)
        • May not improve your credit
        Loan amount $500 – $850
        APR Starting at 22%
        Term 90 - 150 days
        Interest Rate Type Fixed
        Serviced Provinces All Canadian provinces except Manitoba, Quebec and Saskatchewan.

        17. AAR Financial

        AAR Financial personal loan
        $500 – $50,000
        Loan amount
        14.99% – 46.7%
        APR
        25 - 120 months
        Term
        AAR Financial offers personal loans with large loan amounts and long loan terms. Full Review

        Why we chose it

        • High approval rate. AAR Financial claims to approve 99% of applications.
        • Secured and unsecured options. Qualify based on your credit score or use your home to secure your loan.
        • BBB-accredited with an A- rating. The company is ranked on the Better Business Bureau and diligently responds to customer complaints.
        • Borrow up to $50,000 and repay within 96 months for unsecured loans
        • No prepayment penalties for unsecured loans
        • Borrow up to $100,000 and repay within 240 months for home equity loans
        • High rates starting at 19.99%
        • Several negative reviews
        Loan amount $500 – $50,000
        APR 14.99% – 46.7%
        Term 25 - 120 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

        18. PYLO

        Pylo finance personal loan
        $500 – $15,000
        Loan amount
        Starting at 15.99%
        APR
        6 - 60 months
        Term
        PYLO is a competitive lender that takes the stress out of borrowing by offering large loans, low rates and no hidden fees. It works in BC, Manitoba, Ontario and Newfoundland.

        Why we chose it

        • Fast decisions. You'll get pre-approved in a few minutes with final approval in a few hours depending on how quickly you submit the required documentation.
        • May help rebuild credit. PYLO may report your payments to the credit bureaus to help improve your credit.
        • A+ BBB rating. The company isn't accredited by the BBB, but it has an A+ rating and no negative reviews.
        • Low starting rates for bad credit loans (15.99%)
        • Simple application process
        • No hidden fees
        • $100 referral program
        • Accepts CPP and OAS
        • Government assistance not accepted as a form of income (unless you have employment income too)
        • You won't be eligible if you're in bankruptcy or a consumer proposal
        • Not available in all provinces
        Loan amount $500 – $15,000
        APR Starting at 15.99%
        Term 6 - 60 months
        Interest Rate Type Fixed
        Serviced Provinces BC, MB, ON, NL

        19. Fast Access Financial

        Fast Access Financial Personal Loan
        $1,000 – $5,000
        Loan amount
        15.75% – 58.99%
        APR
        12 - 36 months
        Term
        Based in Pickering, Ontario, Fast Access Financial offers personal loans, car title loans, closing cost loans and mortgage loans. Apply in minutes and prepay with no penalty.

        Why we chose it

        • Approval in 24 hours. It takes one day for approval and then your funds will be deposited within two business days.
        • Helps rebuild credit. It reports payments to the credit bureaus to help you improve your credit score.
        • 14+ years in business with an A+ BBB rating. The company is well established and has positive online customer reviews.
        • Flexible repayment options (weekly, bi-weekly or monthly)
        • Positive customer reviews
        • High interest rates, with APRs between 15.75% - 58.99%
        • Must show proof you've been employed full-time for at least six months to qualify
        • The company charges a $100 NSF fee (most bad credit lenders charge $40-$50)
        Loan amount $1,000 – $5,000
        APR 15.75% – 58.99%
        Term 12 - 36 months
        Interest Rate Type Fixed
        Turnaround Time 2 business days
        Serviced Provinces Alberta, New Brunswick, Nova Scotia, Ontario

        20. Tribecca Finance

        Tribecca Financial personal loans
        N/A
        Loan amount
        N/A
        APR
        N/A
        Term
        Tribecca Finance offers loans in Ontario. Its products include home equity loans, personal loans, construction loans, first mortgages and second mortgages.

        Why we chose it

        • Secured and unsecured options. Take out an unsecured loan or use an asset like your home to secure your loan.
        • Same-day approvals. Get a loan decision within minutes of applying.
        • 13+ years in business with an A+ BBB rating. The company has a solid reputation, is accredited by the BBB and has good customer reviews.
        • Pay off secured loans anytime without penalty
        • Simple and fast application process
        • One-on-one support with a lending specialist
        • Zero payments for up to 12 months for home equity loans
        • Rates are not disclosed on the website
        • Not clear how much you can borrow
        • Only available in Ontario
        Loan amount N/A
        APR N/A
        Term
        Interest Rate Type Fixed
        Serviced Provinces Ontario

        21. marble Fast Track Loan

        $5,000 – $15,000
        Loan amount
        18.99% – 24.99%
        APR
        36 - 84 months
        Term
        marble provides loans to people dealing with a consumer proposal. It works with your trustee to pay off your entire consumer proposal to help immediately increase your credit score. Full Review

        Why we chose it

        • Loan to exit consumer proposal. marble offers specialized loans for people struggling to pay off a consumer proposal.
        • Improves credit score. Your credit score will increase as soon as you pay off your consumer proposal, and it will go up further as you pay off your marble loan.
        • BBB-accredited with an A+ rating. The company has been in business for seven years and has an A+ rating with BBB, with very few customer complaints.
        • Rates are 18.99% to 24.99% (lower than most consumer proposal exit loans)
        • Affordable monthly payments
        • Instantly improves your credit score
        • Funds can only be used to pay off a consumer proposal
        • Admin and legal fees
        • Rates may be higher than what you're currently paying
        Loan amount $5,000 – $15,000
        APR 18.99% – 24.99%
        Term 36 - 84 months
        Interest Rate Type Fixed
        Min. Credit Score 300
        Fees Marble Fast-Track loans come with legal and administrative fees ranging between $295 and $1,500
        Turnaround Time Within 24 hours (during business days/hours)
        Serviced Provinces British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, Newfoundland & Labrador

        22. Capital One Guaranteed Mastercard

        Capital One Guaranteed Mastercard

        Capital One Guaranteed Mastercard logo
        Credit recommended (N/A-)
        Read review
        N/A
        Min. credit score
        $59
        Annual fee
        n/a
        Rewards
        n/a
        Welcome offer
        Capital One's Guaranteed Mastercard is designed for people who want to establish or repair their credit without taking out a loan.

        Why we chose it

        • Improves credit score. This credit card is dedicated to boosting your credit, with payments reported regularly to the credit bureaus.
        • Travel benefits. With this card, you're covered under common carrier travel accident insurance, baggage delay and car rental damage.
        • High chance of approval. You should qualify as long as you're the age of majority and aren't in bad standing with Capital One. Some other criteria may apply.
        • The card comes with extended warranty and purchase protection
        • Capital One offers protection against fraud
        • May be able to get a $7,000 limit
        • Annual fee of $59
        • High interest rate of 19.8%
        • Security funds may be required
        Annual Fee $59
        Purchase APR 19.8% fixed
        Cash Advance Rate 21.9%
        Balance transfer APR 19.8% fixed
        Welcome offer N/A
        Rewards N/A
        Please note: All information about Capital One Guaranteed Mastercard has been collected independently by Finder and this card is not available through this site.

        23. MyMoney Loan

        Canada Post MyMoney Loan
        $1,000 – $30,000
        Loan amount
        9.98% – 21.03%
        APR
        1 - 7 years
        Term
        Canada Post MyMoney Loans offer financing with competitive rates through an established Big Five bank. You can prepay your loan at any time without penalty.

        Why we chose it

        • Get funded through TD. Your funds will be provided by one of Canada's Big Five banks.
        • Choice between fixed and variable rates. Fixed interest rates stay the same for the term of your loan while variable rates fluctuate up or down when the prime rate changes.
        • Competitive rates. Fixed interest rates range from 9.98% - 19.98% while variable rates are usually between 11.03% - 21.03%.
        • Large amounts from $1,000 to $30,000
        • No fees unless you miss a payment
        • Apply online in minutes
        • The loan may have strict credit score requirements not listed upfront on its website
        • It usually takes longer to receive funds (one to five business days)
        • You won't be eligible if you're in bankruptcy or a consumer proposal
        Loan amount $1,000 – $30,000
        APR 9.98% – 21.03%
        Term 1 - 7 years
        Interest Rate Type Fixed
        Serviced Provinces All of Canada

        Bottom line

        If you have bad credit, you can still apply and get approved for the best bad credit loans in Canada. But watch out for steep interest rates, and only apply to lenders you trust. If you’d like to learn more about how personal loans work, read our guide to personal loans.

        Frequently asked questions

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