Some lenders advertise “no refusal loans” in Canada, but you should be very wary of these types of offers. There’s no such thing as a guaranteed or no refusal loan, so steer clear of any lender that promises loans that sound too good to be true.
The good news is that there are reputable lenders that have much more lenient eligibility requirements than traditional lenders like banks. So, if you’ve got bad credit or no credit history, it’s still possible to qualify for a loan.
Let’s take a look at some installment loans, payday loans and cash advances that are closest to no refusal loans in Canada, including 24/7 options.
Compare lenders that offer almost no refusal loans
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High-cost payday loans are unsustainable for long-term use, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, call Credit Counselling Society for free financial counselling (Mon–Fri, 8am–5pm at 1-888-527-8999). Also consider payday loan alternatives.
Last resort option: Payday loan
Payday loans carry exceptionally high costs and should generally be avoided. However, if you are facing a financial emergency and have decided on a payday loan, ensure that the lender you choose is fully licensed and regulated.
If you want a 24/7 instant loan with no income required: KOHO cash advance
What makes it almost no refusal?
KOHO doesn’t have income or job requirements and doesn’t do credit checks.
No application process required for its cash advance, but you do have to sign up for a paid KOHO account. Once you sign up for an account, you can get instant access to the cash advance.
It offers small loans only, which are easier to get than large loans.
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High-cost payday loans are unsustainable for long-term use, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, call Credit Counselling Society for free financial counselling (Mon–Fri, 8am–5pm at 1-888-527-8999). Also consider payday loan alternatives.
If you want an instant 24/7 payday loan: iCash payday loan
What makes it almost no refusal?
iCash offers emergency loans to borrowers with bad credit or no credit and accepts non-employment income like government benefits.
You can apply 24/7 and get funded 24/7, with funds available within minutes of submitting your signed loan agreement.
What do I need to know about no refusal payday loans 24/7 in Canada?
Tread carefully with any lender that promises a no refusal payday loan. These no refusal payday loans may be a scam, predatory or false advertising.
Ultimately, there’s always a chance of getting refused when you apply for any kind of loan. Responsible lenders should evaluate your income before approving you for funding. If a lender doesn’t verify your information or doesn’t attempt to determine if you can afford a loan, they may not be legitimate.
That said, some legitimate payday lenders have flexible eligibility criteria that make their loans almost no refusal, such as iCash.
Are there no refusal installment loans 24/7?
Not really. You can apply online for an installment loan 24/7, but lenders of this loan type need time to verify your income and identity before sending you the money. To get your loan funds ASAP, apply early in the morning during regular business hours.
Example: How much does a $500 no refusal loan cost in Canada?
The cost of a $500 no refusal loan depends on the lender you go with. If you apply to a payday lender, you’ll pay $14 for every $100 borrowed. For example, a $500 no refusal loan will cost you $570 in total.
If you get a no refusal installment loan, the $500 loan will cost you around 30% interest plus a broker or surety fee of up to $300. Both the interest and fee will be included in your monthly payments.
Cash advance apps may be the cheapest because they charge no interest. Nyble and Bree, in particular, offer no-interest and no-fee loans if you opt for slow delivery, which takes up to three business days.
How to spot an illegitimate lender of no refusal loans
There are many legitimate lenders that provide bad credit loans in Canada, but there are also plenty of scammers. With this in mind, keep an eye out for these red flags that could indicate a loan scam:
Online lenders have more lenient eligibility requirements than banks and credit unions. While this makes it easier to qualify for a loan, legitimate lenders cannot guarantee funding without assessing your income and financial situation.
Watch out for any lenders that ask for payment upfront. Legitimate lenders don’t charge fees before you’re approved for a loan. Any one-time fees for establishing the loan should only be charged after you’re approved and you’ve received your funds.
If you’re taking out a payday loan, check if the lender has a payday loan licence in your province. When comparing lenders, you may notice that most lenders prominently display their licence numbers on their website before you proceed with an application. If they don’t, they may not be a legitimate payday lender.
From how much you can borrow to how long you have to repay your loan, each province has different payday lending laws that lenders must abide by. For example, Alberta has a minimum loan term of 42 days. Check with your provincial consumer protection office to find out about payday loan regulations where you live, and only deal with lenders that follow those rules.
Legitimate lenders will be completely transparent about the total cost of a loan before you sign a loan contract. Steer clear of any lender that doesn’t clearly state the APRs, borrowing fees and total repayment amount upfront.
Negative reviews (or even a lack of information) online can point to a loan scam. Always check for contact information, head office locations, a social media presence, accreditations and reviews from Google, Trustpilot and the Better Business Bureau.
Whether you choose a payday loan, an installment loan or even a line of credit, if your credit score is poor, you can expect steep interest rates. That’s why you should ask yourself these key questions before signing up for a payday loan:
What do I need this cash for?
Some people take out short-term loans to take care of a one-time financial emergency, while others use the funds to pay for bills or tide them over until their next payday. Ask yourself if you need this cash now and if there are alternatives to payday loans you can consider instead of turning to a loan with such steep interest rates. You may also want to take steps to improve your credit score to enhance your future borrowing prospects.
Do I qualify for a loan?
Before applying for any type of financing, you must make sure that you meet the lender’s eligibility requirements, including criteria like your age, monthly income, existing debts and residency.
Will I be able to repay this loan on time?
Payday loans, in particular, come with very short repayment periods, and most payday lenders expect you to repay your loan by your next payday. Do the math and make sure you have a concrete plan on how you’ll repay this loan by your next paycheque without going into the red again. You may find that taking out a payday loan will trigger a cycle of debt that’s hard to get out of.
Is this lender legitimate?
Disreputable lenders know borrowers are grappling with financial problems and bad credit, and they may take advantage of your circumstances. Make sure you’re working with a reputable lender that’s fully licenced, follows your province’s regulations and assesses your ability to repay what you borrow, rather than promising no refusal loans.
Watch out for predatory lending
The payday loan space is notorious for predatory lending. Predatory lenders may try to impose unfair fees and loan terms, or they may falsely advertise to lure in borrowers without showing them the fine print. Ultimately, they’re counting on the borrower taking out a loan and defaulting on it, so the lender can charge more fees.
Make sure you’re working with a legitimate lender that discloses its payday licence in the province it’s operating in and is transparent about the loan’s fees, terms and conditions. Additionally, a reputable lender will not guarantee approval, but will do its due diligence to check that you can responsibly repay the loan.
Are Canadians in a stronger financial position now compared to 12 months ago?
If you’re feeling financially uneasy, you’re not alone. In the Finder: Consumer Sentiment Survey January 2025, 30% of Canadians said they were not in a stronger financial position now compared to 12 months ago. This is an increase from last year’s survey, where 27% of Canadians said the same.
Bottom line
If a lender claims to offer no refusal loans, beware — this is a big red flag that could indicate a predatory lender or a scam. Reputable lenders will always check your financial situation, such as your income and credit history, before approving you for any type of financing.
Finally, make sure you compare a range of options to find the right loan for you.
Income and employment situation are the most common reasons why applicants are denied a payday loan. If you aren't employed, your income is too low or it's not stable enough (e.g., you've been employed for less than three to six months), your loan application may be rejected.
While eligibility criteria vary between lenders and provinces, the following minimum criteria will usually need to be met:
You must be the age of majority in your province or territory.
You must be a Canadian citizen or a permanent resident with a valid Canadian address.
You'll need proof that you have some form of income, whether it's employment income or government benefits.
You'll need a working bank account to set up an automatic withdrawal to repay your loan.
If a lender claims to offer no denial payday loans, the safest option is to avoid them altogether to avoid being scammed. However, there are many legitimate payday lenders who will consider your income and financial situation before deciding whether to approve or reject your loan application.
No. Reputable lenders do not offer guaranteed loans. If a lender promises "no refusals," this is a red flag that could indicate a loan scam. Steer clear of these questionable lenders and consider legitimate payday loans in Ontario instead.
While you can't get no refusal loans, there are several reputable payday lenders in Canada that have lenient eligibility requirements and also approve and fund loans 24/7. These lenders often use automated approval systems to speed up the application process and send funds via e-Transfer so you can access your loan in minutes.
Installment loans offer longer loan terms, larger loan amounts and lower APRs than payday loans. They're also paid back in installments over a period of months or years, while payday loans typically need to be repaid by your next payday. Find out more about the differences between these two loans in our payday vs. installment loans guide.
Tim Falk is a freelance writer for Finder. Over the course of his 20-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.
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Rebecca Low is a writer for Finder. She has contributed to a range of digital publications, including income.ca, Indeed, and Expatden, writing on topics like personal finance, career development, and travel.
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Find out where to apply for a $200 payday loan or cash advance when you need funds fast.
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