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Get a $150 loan

Need a $150 loan? Get the money you need and get funded the same day.


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If you’re searching for $150 loans in Canada, most personal loan lenders won’t be able to help. But the good news is that there are some lenders where you can get a $150 loan, even if you have bad credit.

In this guide, we cover $150 loans you can apply for and how to choose the best one for your needs.

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⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. If you're experiencing financial hardship call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.

Compare $150 payday loans in Canada

Apply online and get instant approval from one of these direct payday lenders of $150 loans.

$250 loan providerInterest rateLoan termServiced provincesKey featuresLink

Payday Loan

Varies by province7 - 62 daysAB, BC, MB, NB, NS, ON, PEIInstant approval and funding 24/7, accepts bad credit

Payday Loan

Varies by provinceUp to 62 daysAB, BC, MB, NB, NS, ON, PEI, SKInstant approval, same day loan, accepts bad credit
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province Max. cost of borrowing a $100 payday loan Cooling off period to cancel loan Max. penalty for returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours excluding Sundays and holidays $20
New Brunswick $15 48 hours excluding Sundays and holidays $20
Newfoundland and Labrador $14 2 business days $20
Nova Scotia $15 Next business day (2 days for online loans) $40 (default penalty)
Ontario $15 2 business days $25
Prince Edward Island $15 2 business days N/A
Quebec Limit of 35% AIR N/A N/A
Saskatchewan $17 Next business day $25

Get a $150 loan from a cash advance provider

Another option is to get a $150 loan from a cash advance provider. You pay no interest on these cash loans, but you may pay either an optional or required monthly fee depending on the provider.

Loan providerInterest rateLoan amountLoan termKey features

Early Pay

No interest or fees to access cash advance, fee for express funding (varies based on advance)$20–$350Next pay cycle (61 days max.)Easy to apply, no interest, same-day funding for a small fee, no credit check

Credit Line

No interest or fees to access credit line, optional $11.99/month membership to get premium services such as instant funding$30 – $15030 days, extendableInstant approval, no credit check and funding within 30 minutes with a monthly subscription

Cash Advance

No interest but there’s a mandatory subscription fee starting at $2/month.$20–$250FlexibleEasy application, no credit check, instant access to funds

What are the steps to get a $150 loan online?

You can apply for a $150 loan by completing these five simple steps:

  1. Fill out the application. Complete an online application form by providing your name, date of birth, contact details and income information.
  2. Verify your bank account. Provide your bank account details for online bank verification. This allows the lender to assess your income without requiring you to upload copies of bank statements or pay stubs.
  3. Get a decision. Many lenders offer fast approvals within minutes, but it may take a little longer to process your application in some cases.
  4. Sign your contract. Once the lender sends you a loan agreement, make sure to review all details of the contract carefully before signing.
  5. Get funded. If you get the loan amount via e-Transfer, the funds will be sent to you within minutes.

How much will a $150 loan cost me?

The cost of a $150 loan will vary depending on a number of factors, including:

  • The loan interest rate
  • Any fees that apply
  • Your loan term

To give you a better idea of how much your loan will cost, let’s take a look at the total cost of repaying three different $150 loans.

$150 payday loan vs $150 early pay vs $150 installment loan

Loan typeInterest rateLoan termTotal cost
$150 payday loan$15 for every $100 borrowed14 days$172.50
$150 pay advance0% interest rate, $7.99 monthly subscription fee2 months$165.98
$150 installment loan (from a credit union)19% interest rate2 months$153.57

Where can I get $150 loans for bad credit?

Payday lenders and pay advance apps both offer $150 loans for bad credit. You can apply for a loan without completing a credit check, as the lender or pay advance company will instead check your income to determine whether you can afford to pay off a loan.

You may also be able to find a $150 loan from a local credit union, but this isn’t as common as payday loans or cash advances. Credit unions also have stricter eligibility requirements, so check what criteria you’ll need to meet before you apply.

How to increase your chances of approval on a $150 loan with bad credit

If your credit score leaves a little to be desired, there are a couple of simple things you can do to boost your chances of getting approved for a $150 loan.

  • Little to no NSF transactions. A history of NSF transactions on your bank account will indicate to a lender that you will struggle to make loan payments on time. But if your bank statement is unblemished, you’ll be much more likely to get approved.
  • Earn a steady income. Having a steady source of income will make it easier for you to afford loan payments. Many lenders will also accept non-employment income, such as disability benefits or employment insurance.

Where can I borrow $150 on the same day?

If you need a $150 same day loan, it’s a good idea to apply to lenders that pay out loans via e-Transfer. This is a faster funding method than direct deposit and means that the money can be in your bank account within minutes.

If you’d prefer to get your funds by direct deposit, be sure to apply in the morning to maximize your chances of getting approved the same day.

Where can I get a $150 instant loan?

If you need a $150 instant loan, payday lenders are your best option. Some lenders offer fast approvals and pay out loans either in person or via e-Transfer, so it’s possible to get your money in less than an hour.

Some lenders also approve and fund loans 24/7, so you can get an instant loan whenever you need it.

What apps let me borrow $150?

There are two different types of apps that offer $150 loans in Canada. The first are pay advance apps, which provide you access to a small portion of your next paycheque with no credit checks and no interest charges. Your second option is to apply for a loan through a payday lender’s mobile app.

Here are five apps that let you borrow $150:

  • Nyble. Pay advance app Nyble provides lines of credit of $30 to $150. There’s no credit check and no interest charges to worry about. However, there’s a $11.99 per month monthly subscription fee if you want fast transfers (1-30 minutes), a full credit report, and other premium perks. Otherwise, you’ll have to wait 1-3 business days to receive funds.
  • Bree. Bree is another pay advance service and offers interest-free loans of up to $350. There are no credit checks and it’s easy to apply, but watch out for the ongoing subscription fee as well as an extra fee if you want your loan straight away.
  • iCash. iCash is a payday lender that offers fast loans through its Android and iOS app. It’s easy to apply and you can get approved and funded in minutes, but just be aware that payday loans are very expensive to repay.
  • Money Mart. Money Mart offers payday loans of up to $1,500, and you can apply through the Money Mart app even if you have bad credit. You can get funded within 24 hours, but take note that payday loans are very expensive.
  • Cash Money. Cash Money is a payday lender that offers loans within an hour. You can apply for a $150 loan via its Android or iOS app and get funded by e-Transfer, but watch out for the high cost of borrowing.

Can I get a $150 loan with no credit check?

Yes. Lenders and pay advance apps typically won’t require you to undergo a credit check to get a $150 loan, so bad credit won’t stop you from getting funded. The lender will instead check your income to make sure you can afford to repay what you borrow.

But just make sure you only ever apply to a legit lender. While there are plenty of above-board lenders that advertise no credit check loans, there are also some scammers out there. Research any lender before you apply, and make sure you can spot the signs of a loan scam.

Can I get a $150 loan with guaranteed approval?

Because $150 is a small loan amount, it’s generally easier to qualify for than a large loan. But that doesn’t mean you can expect guaranteed approval, as lenders will still need to verify your finances and ability to repay a loan before approving your application.

And be warned: promising guaranteed approval can potentially indicate a scam, so proceed with caution with any lender that does this.

Bottom line

There are plenty of options to consider if you want a $150 loan in Canada. From payday and personal loans to pay advance apps, you can get funded even if you have bad credit. But watch out for high APRs and additional fees, and make sure you’re dealing with a legit lender before you apply.

Frequently asked questions


Written by

Tim Falk

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full profile

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