If you’re searching for $150 loans in Canada, personal loan lenders unfortunately won’t be able to help because that amount is too small. But the good news is that there are other lenders where you can get a $150 loan, even if you have bad credit.
Check out these lenders offering quick $150 loans online.
One option is to get a $150 loan from a cash advance app. You pay no interest on these loans, but you may pay a monthly fee.
To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 5+ cash advance apps are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.
Apply online and get instant approval from one of these direct payday lenders of $150 loans.
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Popular options for instant $150 loans in Canada include payday loans, like iCash and Money Mart, and cash advance apps, like KOHO and Nyble. These lenders offer hassle-free online processes, and you can get your money in as little as 30 minutes.
You can apply for a $150 loan by completing these five simple steps:
The cost of a $150 loan will vary depending on a number of factors, including:
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.
| Loan type | Interest rate | Loan term | Total cost |
|---|---|---|---|
| $150 payday loan | $14 for every $100 borrowed | 14 days | $171 |
| $150 pay advance | 0% interest rate, $7.99 monthly subscription fee | 2 months | $165.98 |
| $150 installment loan (from a credit union) | 19% interest rate | 2 months | $153.57 |
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 is a lot less common than payday loans or cash advances. Credit unions also have stricter eligibility requirements, so check what criteria you’ll need to meet before you apply.
Must read: Guide to different bad credit loans
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.
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.
There are two different types of apps that offer $150 loans in Canada. The first are cash 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.
Check out five apps that let you borrow $150.
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.
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. Learn more in our guide to guaranteed approval loans.
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.
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