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18 fast emergency loans in Canada

Get funds in as little as one hour to cover yourself in an emergency with urgent loans for bad and good credit.

If you need fast cash in an emergency, you can apply online for a payday or personal/installment loan. These urgent loans often come with high interest rates but can put cash in your bank account within a few minutes after approval. Payday loans are faster and easier to get. You can get them with bad credit, you don’t need to be employed, and some lenders offer instant approval and funding 24/7. However, they’re more expensive than personal loans.

Compare 18 speedy providers of emergency loans in Canada to learn which one might be best for you.

Compare emergency loans in Canada

⚠️ 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. 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.
Loan providerInterest rateLoan amountLoan termKey featuresLink
GoDay

Payday loan

Varies by province$100 – $1,500Up to 62 daysInstant loans 24/7Go to siteLearn more
Spring Financial

Personal loan

9.99% - 46.96%$500 – $35,0006 - 60 monthsSame-day approval and fundingGo to siteLearn more
Nyble

Small credit line

0% interest, but there is a $4.99 - $7.99/month membership fee$30 – $150FlexibleInstant approval and funding within 30 minutes for a small feeGo to siteLearn more
Loans Canada

Personal loan

8.00% - 46.96%$500 – $50,0004 - 60 monthsInstant pre-approvalGo to siteLearn more
LoanConnect

Personal loan

32.00%$500 – $2,5009 - 60 monthsInstant pre-approvalGo to siteLearn more
LoansLoans.ca

Installment loan

28.00% - 32.00% + broker fee (up to $300)$300 – $1,7503 - 12 monthsApproval within 1 hour, no credit checkGo to siteLearn more

iCASH

Payday loan

Varies by province$100 – $1,5007 - 62 daysInstant loans 24/7Go to siteLearn more

SkyCap Financial

Personal loan

19.99% - 39.99%$500 – $15,0003 - 12 monthsApproval and funding within 24-48 hoursGo to siteLearn more

FlexMoney

Personal loan

18.90% - 46.93%$500 – $15,0006 - 60 monthsInstant approval, funding in 24 hoursLearn more
Cash Money

Payday loan

Varies by province$100 – $1,5005 - 40 daysInstant approval and fundingLearn more
Loanz

Personal loan

29.90% - 46.90%$100 – $50,00012 - 60 monthsInstant approval, funding in as little as 15 minutesLearn more

Credit Club

Payday loan

Varies by province$500 – $1,500Up to 62 daysInstant loans 24/7, no credit checkLearn more
Pay2Day

Payday loan

Varies by province$300 – $1,500Up to 62 daysInstant loans 24/7, no credit checkLearn more
Loan Express

Payday loan

Varies by province$100 – $1,500Up to 62 daysInstant loans 24/7, no credit checkLearn more

My Canada Payday

Payday loan

Varies by province$100 – $1,500Up to 62 daysInstant loans 24/7, no credit checkLearn more
Mr. Payday

Payday loan

Varies by province$100 – $1,500Up to 62 daysFunding in as little as 30 minutes, no credit checkLearn more

Magical Credit

Installment loan

19.99% - 46.80%$1,500 – $20,00012 months - 5 yearsApproval in 24 hours, funding in 24 hours, accepts many types of incomeLearn more

24Cash

Installment loan

19.99% - 46.80%$1,500 – $20,00012 months - 5 yearsFunding in 24 hours, no credit checkLearn more
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs as they may vary from our results.
Province Maximum allowable cost of borrowing
Alberta, British Columbia, New Brunswick, Ontario & Prince Edward Island $15 per $100 borrowed
Manitoba, Saskatchewan & Nova Scotia $17 per $100 borrowed
Newfoundland and Labrador $14 per $100 borrowed
Quebec Limit of 35% annual interest rate (AIR)

Benefits and risks of emergency payday loans

Benefits

  • Easy application. Most payday loan applications can be completed in 10 minutes or less. Since many lenders don’t require a credit check, approval for these types of urgent loans for bad credit is usually instant.
  • Money delivered quickly. You can get your money immediately after approval if you apply in-store, and most online lenders can transfer your cash within minutes using Interac e-Transfer. Learn more about e-Transfer payday loans.
  • Bad credit is okay. Payday loans are one of the easiest options if you need urgent loans for bad credit in Canada. You can apply with bad credit and, in some cases, won’t even need a credit check. Some lenders may also let you apply with a recent bankruptcy or consumer proposal on your credit report.

Risks

  • Small amounts. You can only borrow up to $1,500 with a payday loan, whereas some personal loans let you borrow up to $50,000. However, with emergency loans, you’ll only get approved for lower amounts.
  • Short terms. You’ll usually need to repay your loan by your next payday. If you don’t, you could incur more fees, leading you into a cycle of debt that’s difficult to get out of.
  • Higher than normal fees. Payday loans come with exorbitant fees. Expect to pay between $14 to $17 for every $100 borrowed, depending on where you live.
  • Doesn’t help to build credit. Payday loans can’t be used to build credit, which is unfortunate since they are some of the only urgent loans you can qualify for with bad credit in Canada.
  • Chance of fraudulent lenders. You could run into a fraudulent or predatory lender if you apply online. These lenders may not be licensed to operate in your province and may sell your personal information or charge you predatory fees. Learn more about payday loan scams here.

What else should I keep in mind?

Before you apply for an emergency loan, ensure that you won’t have any problems repaying your loan by the due date and that when you do, you’ll have enough income left over to pay for your other debts and expenses. With such high interest rates and short repayment terms, it can be difficult for your finances to recover if you take out a payday loan. If you think you might have trouble repaying the loan, avoid getting it.

Benefits and risks of emergency personal loans

Benefits

  • Fast application and approval. Apply online in a few minutes by filling out a simple online application. Get formal approval often within 24 hours if you qualify.
  • Longer term. You can pay your loan back over 3 - 60 months, which is much longer than payday loans allow.
  • Higher amounts. You may be able to qualify for up to $10,000 with emergency personal loans. Payday loans max out at $1,500.
  • Manageable rates. The starting rates you pay will usually be much lower than what you’ll pay with emergency payday loans.
  • Can help to build credit. Some personal loan lenders will report your on-time payments to the credit bureaus, which means you can use these urgent loans for bad credit to actually help build your score over time.

Drawbacks

  • Stricter eligibility criteria. You may need to meet higher credit score or income requirements than with payday loans.
  • Repayment takes longer. You’ll make payments for much longer than you would with a payday loan, which can drive up the amount of interest you pay.
  • Late or missed payments can damage your credit. The longer you repay, the higher the chance you’ll miss a payment, leading to high fees and damage to your credit score.

How do I pick the best urgent loans for bad credit in Canada?

Look at the following features when picking the best emergency bad credit loan:

  • Interest rates. Compare several annual percentage rates (APRs) to get a true sense of what you’ll pay for interest and admin fees. Urgent bad credit loans in Canada will often come with high interest rates. Pick the loan with the lowest APR. Compare personal loan rates in Canada.
  • Extra fees. Consider any extra fees you may pay (outside of those included in your APR). Avoid lenders that charge high NSF fees, late payment fees or prepayment fees.
  • Loan term. Try not to have your loan longer than you need to. A longer loan term will give you lower monthly payments, but you’ll pay more interest over the life of the loan.
  • Turnaround time. When you need an urgent bad credit loan in Canada, speed will likely be a top priority. Find a lender that can give you approval and transfer funds within 24 hours. Learn more about fast and easy loans.
  • Improves your credit score. If you’re applying for a personal emergency bad credit loan, confirm that your lender will report your on-time payments to the credit bureaus.
  • Company reputation. Look for a lender with a solid reputation for customer service. Check online reviews on sites like Google, Trustpilot and the Better Business Bureau.

Can I get guaranteed approval on an emergency loan with poor credit?

No, there’s no such thing as guaranteed approval on a loan for poor credit or even good credit in Canada. Even if the lender has an automated approval process, they will still require you to meet certain criteria if they’re a legit lender. Those promising guaranteed approval may be doing so to collect fraudulent upfront fees, to get you to sign up for a loan you can’t afford or to entice you to apply but there’s actually criteria in the fine print you’ll need to meet.

How do I get an emergency loan with no job?

It can be difficult to get an emergency loan if you’re unemployed unless you have another source of income. Some lenders will accept alternative forms of income such as EI, pension, disability, child tax benefit, maternity or student loans to help you meet income requirements. Check with the lender you want to apply with to find out what income they accept.

How do I get an emergency loan with no credit check?

It depends on the lender. Many payday lenders who offer urgent loans for bad credit won’t check your credit as long as you’re a Canadian resident who is the age of majority in your province. The majority of personal emergency loan lenders will conduct a credit check, and those that don’t, usually expect you to have a high income or regular full-time employment.

Other ways to borrow money fast during an emergency

You can use the following options to borrow money in an emergency if you don’t want a loan:

  • Line of credit: Apply for a line of credit with an online lender and it’s usually much faster than the bank. Just be prepared to pay higher rates.
  • Credit card cash advance: Take money out of your credit card balance. You’ll usually pay around 21.99% in interest, but there’s no application and you can borrow instantly.
  • Pay advance apps: Borrow up to $200 with no interest and no fees, with pay advance apps such as Nyble and Bree.
  • Vehicle title loan: Use your vehicle title to secure a loan. This should give you lower interest rates, but you could lose your car if you default on payments.

What can I use emergency loans for in Canada?

Financial emergencies can be hard. It can feel especially stressful if you need urgent loans and you have a bad credit score. But the good news is that there are many emergency loan options available for people of all credit types. Whether you opt for a payday loan or personal loan, you have the freedom to use the loan funds however you wish.

Here are just some of the common uses for emergency loans in Canada:

  • Emergency car repairs
  • Unexpected home repair costs
  • Vet bills for emergency pet care
  • Help cover living expenses during unemployment

It’s important to keep in mind that although an emergency loan can help cover these unexpected expenses, it’s often better to cover expenses with cash rather than taking out a loan that may be hard to pay off later. If it’s possible, first consider using your savings to pay for urgent expenses or visiting 211.ca to quickly get connected to a non-profit who can help.

Learn more about emergency payday and personal loans

1. GoDay

GoDay is a BBB-accredited payday lender that first began operations in 2012. It has automated systems to approve and process online emergency loans in Canada 24/7, and you won’t need to email any documents to get approved.

How fast you can get it: You can get an emergency loan in as little as 60 minutes, 24/7, via e-Transfer. However, if you apply outside of business hours and GoDay’s system flags your application for manual review, the loan will take longer.

Loan details

  • Interest rate: Varies by province
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Minimum income: No min. income
  • Incomes it accepts: Employment, CCB, disability tax credit, OAS, CPP and private pensions
  • Serviced provinces: AB, BC, MB, NB, NS, ON, PEI, SK
  • Accepts bad credit: Yes
  • Instant approval: Yes
  • Credit check required: Yes

Tips to get your money fast

  • Be prepared to connect your bank account. Instead of sending documents, you’ll provide GoDay with a snapshot of your bank statements via bank verification.
  • Use the Express Re-Loan application. If you’re a returning customer, log into your GoDay account and submit an Express Re-Loan application online for faster approval.

Go to site

Dive deeper GoDay review

2. Spring Financial

Spring Financial is a major alternative lender that offers emergency personal loans online. It’s been in business since 2014 and is based in Vancouver, BC.

How fast you can get it: Get an offer within minutes after you apply and receive your money on the same day or next day.

Loan details

  • Interest rate: 9.99% - 46.96%
  • Loan amount: $500 – $35,000
  • Loan term: 6 - 60 months
  • Minimum income: $1,800/month
  • Incomes it accepts: Employment
  • Minimum credit score: 500
  • Serviced provinces: All of Canada
  • Accepts bad credit: Yes
  • Instant approval: Approval within 15 to 30 minutes
  • Credit check required: Yes

Tips to get your money fast

  • Have your phone ready. You’ll get a phone call from a Spring representative right after you apply.
  • Prepare your information. Have your banking details, employment information and pay stubs ready.

Go to site

3. Nyble

Nyble is a new lender in Canada that provides emergency cash advances of up to $150 through its app. Although this lender doesn’t do credit checks, it has stricter eligibility criteria than payday lenders.

How fast you can get it: Get this emergency loan within 30 minutes if you pay Nyble’s small express fee.

Loan details

  • Interest rate: 0%, Membership Fee: $4.99 - $7.99/month
  • Loan amount: $30 – $150
  • Loan term: Flexible
  • Minimum income: None
  • Incomes it accepts: Any type, but prefers employment
  • Minimum credit score: None
  • Serviced provinces: All provinces and territories.
  • Accepts bad credit: Potentially
  • Instant approval: Yes
  • Credit check required: No

Tips to get your money fast

  • No NSF transactions. Nyble is less likely to approve you if your bank account has any NSF transactions in the last 90 days.
  • Connect your bank account. You’ll need to allow Nyble to verify your income via bank verification.

Go to site

Dive deeper Nyble review

4. Loans Canada

Loans Canada was founded in 2012 and is headquartered in Toronto. It’s a broker with the largest lender network in Canada. Simply fill out an application to get matched with lenders providing emergency loans. It’s also possible to get urgent loans for bad credit from lenders on Loans Canada’s platform.

How fast you can get it: Get an emergency loan via Loans Canada within 24 to 48 hours.

Loan details

  • Interest rate: 5.4% - 46.96%
  • Loan amount: $300 – $50,000
  • Loan term: 4 - 60 months
  • Minimum income: $1,000/month
  • Incomes it accepts: Varies by lender
  • Minimum credit score: 300
  • Serviced provinces: All of Canada
  • Accepts bad credit: Yes
  • Instant approval: Not available. You can get instant pre-approval, but the lender you choose will need to verify your income and identity before giving approval.
  • Credit check required: Some of the lenders you’re matched with may check your credit. You’ll need to withdraw your consent if you don’t want this.

Tips to get your money fast

  • Be ready to answer your phone. Once you apply, an agent will contact you so you should be available to take the call to expedite your application.
  • Send your documents in quickly. Attempt to get the required documents in quickly so that the agent looking after your application can proceed with the approval process.

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Dive deeper Loans Canada review

5. LoanConnect

LoanConnect was founded in 2016 and operates out of London, Ontario. It’s a BBB-accredited business that hosts a comparison platform to match you with loan offers based on your unique profile. Get pre-approved for up to $50,000 and get emergency loans on the same day you qualify.

How fast you can get it: You can get an urgent loan via LoanConnect within 24 to 48 hours.

Loan details

  • Interest rate: 6.99% - 46.96%
  • Loan amount: $100 – $50,000
  • Loan term: 3 - 120 months
  • Minimum income: No min. income
  • Incomes it accepts: Varies by lender
  • Minimum credit score: 300
  • Serviced provinces: All provinces
  • Accepts bad credit: Yes
  • Instant approval: Not available. You can get instant pre-approval, but the lender you choose will need to verify your income and identity before giving approval.
  • Credit check required: You can find out your matches without a credit check, but the lender you choose may check your credit.

Tips to get your money fast

  • Have your documents ready. Have your ID, direct deposit information, bank statement, most recent pay stubs and proof of address ready.
  • Prepare a letter of employment. Reach out to your employer in advance to get a letter of employment before you apply.

Go to site

Dive deeper LoanConnect review

6. LoansLoans.ca

LoansLoans.ca offers fast short-term installment loans with no credit check. NCR Financial, the company that operates LoansLoans.ca, has been in business for over 15 years and is registered in Quebec. Apply online and get approval within one hour.

How fast you can get it: Get this urgent loan for bad credit within 24 hours.

Loan details

  • Interest rate: 28.00% - 32.00% + broker fee. The broker fee is up to $300.
  • Loan amount: $300 – $1,750
  • Loan term: 3 - 12 months
  • Minimum income: $1,200/month
  • Incomes it accepts: This lender is flexible and is open to many types of income as long as it’s over $1,200/month.
  • Minimum credit score: Not applicable
  • Serviced provinces: AB, BC, MB, NB, NL, NS, ON, PEI, SK
  • Accepts bad credit: Yes
  • Instant approval: Approval within one hour
  • Credit check required: No

Tips to get your money fast

  • Prepare your documents. You’ll need your ID, proof of address (utility bill, cell phone bill, etc.), bank statements from the last 60 days, last pay stub and void cheque or pre-authorized debit form.
  • Make sure you meet the income requirement. LoansLoans requires at least $1,200/month.

Go to site

Dive deeper LoansLoans.ca review

7. iCASH

iCASH provides fast payday loans in Canada to people looking for urgent loans with bad credit. It’s one of the largest and most popular lenders in this space and has provided emergency loans to more than 500,000 customers across Canada since 2014. iCASH provides 24/7 online customer support, which is a benefit that most payday lenders in Canada do not offer.

How fast you can get it: Get this loan online within 30 to 60 minutes of applying, 24/7, via Interac e-Transfer.

Loan details

  • Interest rate: Varies by province
  • Loan amount: $100 – $1,500
  • Loan term: 7 - 62 days
  • Minimum income: $800/month
  • Incomes it accepts: Employment and other types, including employment insurance, child tax, ODSP, AISH, provincial disability, CPP, OAS and social assistance
  • Serviced provinces: BC, Alberta, Manitoba, Ontario, Nova Scotia, New Brunswick and Prince Edward Island.
  • Instant approval: Yes
  • Accepts bad credit: Yes
  • Credit check required: Yes

Tips to get your money fast

  • Prepare a reference. You can ask a family member or friend for a reference.
  • Create an online account. Input your personal information and validate it with your phone number.
  • Download the app. Get the iCASH app to apply from anywhere, anytime.

Go to site

8. SkyCap Financial

SkyCap Financial was founded in 2013 and provides emergency personal loans up to $15,000 for Canadians. This lender has stricter eligibility criteria than others in this list. You’ll need fair to good credit to get approved.

How fast you can get it: Get this emergency loan within 24 to 48 hours.

Loan details

  • Interest rate: 19.99% - 39.99%
  • Loan amount: $500 – $15,000
  • Loan term: 9 - 60 months
  • Minimum income: $3,333/month
  • Incomes it accepts: Employment, pension
  • Minimum credit score: 600
  • Serviced provinces: All provinces and territories except Quebec and Nova Scotia
  • Accepts bad credit: No
  • Instant approval: Available. To get an instant decision, do not skip any steps on the application.
  • Credit check required: Yes

Tips to get your money fast

  • Apply early in the morning. You’re more likely to get same-day approval if you apply early, during normal business hours.
  • Create an account. Sign up for an account in advance and be ready with your ID when you fill out your application.

Go to site

9. FlexMoney

FlexMoney offers an easy online application and approval process for urgent loans even if you have bad credit. You don’t have to upload any documentation when you apply, and you can get approved within 15–30 minutes on average. Funds for emergency loans are usually released within 24 hours.

How fast you can get it: If you apply in the morning, it’s possible to get the loan on the same day. If you apply later in the day, the money should reach your account on the next business day.

Loan details

  • Interest rate: 18.90% - 46.93%
  • Loan amount: $500 – $15,000
  • Loan term: 6 - 60 months
  • Minimum income: $2,000/month
  • Incomes it accepts: Employment, pension
  • Minimum credit score: 500
  • Serviced provinces: Alberta, British Columbia, Newfoundland, Nova Scotia, Ontario, PEI and Saskatchewan
  • Accepts bad credit: Yes
  • Instant approval: Approval within 15 to 30 minutes
  • Credit check required: Yes

Tips to get your money fast

  • Prepare your information. Have your banking details, employment information, estimated monthly expenses and current address of residence on hand.
  • Input your information correctly. The process to get approved is automated, so be sure that you input the correct details as they are used to validate your identity.

Dive deeper FlexMoney review

10. Cash Money

Cash Money is a payday lender that has been in business since 1992 and has helped nearly 1.2 million Canadians with their short-term cash needs. It offers lines of credit in addition to emergency payday loans in Canada.

How fast you can get it: Get instant approval and e-Transfer funding in as little as 15 minutes after approval. This emergency loan may take longer if you apply outside of business hours.

Loan details

  • Interest rate: Varies by province
  • Loan amount: $100 – $1,500
  • Loan term: 5 - 40 days
  • Minimum income: $1,000
  • Incomes it accepts: Employment, CCB, disability tax credit, OAS, CPP and private pensions
  • Serviced provinces: BC, MB, NL, NS, ON, SK
  • Accepts bad credit: Yes
  • Instant approval: Yes
  • Credit check required: Yes

Tips to get your money fast

  • Prepare your documents. Come ready with your ID, direct deposit information, contact information and proof of employment/recurring income.
  • Apply online. Create an account and submit your application online to get an instant loan decision.
  • Download the app. Get the Cash Money app to accelerate your application.

11. Loanz

Established in 2015, Loanz is a personal loan lender that offers emergency loans in Canada with same-day funding. All you need to do is select bank verification to connect your banking details through a secure portal to verify your income and identity.

How fast you can get it: You can get an instant approval and funding in as little as 15 minutes.

Loan details

  • Interest rate: 29.90% - 46.90%
  • Loan amount: $100 – $50,000
  • Loan term: 12 - 60 months
  • Minimum income: $1,200/month.
  • Incomes it accepts: Employment
  • Minimum credit score: 570
  • Serviced provinces: All of Canada (excluding Quebec)
  • Accepts bad credit: Yes
  • Instant approval: Yes
  • Credit check required: Yes

Tips to get your money fast

  • Make sure you meet eligibility criteria. Make sure you meet the minimum income and credit score requirements and have an active bank account.
  • Use online banking verification. Accelerate your application by validating your personal information through instant bank verification.
Dive deeper Loanz review

12. Credit Club

Credit Club offers online payday loans for anyone with urgent cash needs. You won’t need to send any paperwork and you can get your money quickly via direct deposit or e-Transfer.

How fast you can get it: Get this emergency loan in as little as 30 minutes. Credit Club has automated systems to provide instant loans 24/7, but getting immediate funding outside of business hours is not guaranteed.

Loan details

  • Interest rate: Varies by province
  • Loan amount: $500 – $1,500
  • Loan term: Up to 62 days
  • Minimum income: No min. income
  • Incomes it accepts: Employment
  • Serviced provinces: Ontario, British Columbia and Nova Scotia
  • Accepts bad credit: Yes
  • Instant approval: Yes
  • Credit check required: No

Tips to get your money fast

  • Apply during business hours. While it’s possible to get a fast emergency loan after hours or on weekends, apply during Credit Club’s business hours if you can.
  • Be prepared to connect your account. Credit Club will ask you to log in to your bank account via a secure, encrypted portal so it can give instant approval.

13. PAY2DAY

PAY2DAY started payday lending in 2006 and offers emergency loans with no credit check. You can apply with bad credit online or at one of its stores. And like other payday lenders, you don’t necessarily need to have a job to get approved.

How fast you can get it: Get this urgent loan in as little as 60 minutes, 24/7. PAY2DAY offers the special perk of 24/7 online customer service.

Loan details

  • Interest rate: Varies by province
  • Loan amount: $300 – $1,500
  • Loan term: Up to 62 days
  • Minimum income: No min. income
  • Incomes it accepts: Employment, EI, retirement income
  • Serviced provinces: ON, BC, NS
  • Accepts bad credit: Yes
  • Instant approval: Yes
  • Credit check required: No

Tips to get your money fast

  • Use online banking verification. Accelerate your application by validating your personal information through instant bank verification. You’ll need to provide one government-issued ID.
  • Download the app. Get the PAY2DAY app to apply quickly from your mobile phone.

Dive deeper PAY2DAY review

14. Loan Express

Loan Express started offering payday loans in Canada in 2005 and is one of the most popular lenders in this space. It accepts online applications 24/7, so you can apply whenever you need emergency funds.

How fast you can get it: Get this emergency loan in as little as 60 minutes. Instant loans are available 24/7, but LoanExpress does not have customer support 24/7. You’ll need to wait until business hours if you run into any issues with the application.

Loan details

  • Interest rate: Varies by province
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Minimum income: No min. income
  • Incomes it accepts: Many types, including pension, disability, child tax credit, most other government benefits paid regularly
  • Serviced provinces: AB, BC, MB, NB, NL, NS, ON, SK, YK, NT, NWT
  • Accepts bad credit: Yes
  • Instant approval: Yes
  • Credit check required: No

Tips to get your money fast

  • Choose bank verification. This option is faster than the traditional manual review. With bank verification, you can get instant approval and e-Transfer funding.
  • Create an online account. Input your personal information and validate it with your phone number.

Dive deeper Loan Express review

15. My Canada Payday

Founded in 2008, My Canada Payday is a fully-licensed online and storefront payday lender. It offers quick loans and is a member of the Canadian Consumer Finance Association. It also offers emergency loans for the unemployed in Canada (as long as you show proof of income from Canada Child Benefit, CPP, pension or disability).

How fast you can get it: You can get instant approval and e-Transfer funding 24/7, but getting your loan immediately 24/7 is not guaranteed.

Loan details

  • Interest rate: Varies by province
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Minimum income: $1,000/month
  • Incomes it accepts: Employment, CCB, disability, pensions
  • Serviced provinces: AB, BC, MB, NS, ON, SK

  • Accepts bad credit: Yes
  • Instant approval: Yes
  • Credit check required: No

Tips to get your money fast

  • Make sure you meet eligibility criteria. Only apply if you’re the age of majority, are employed full time, make at least $1,000 per month and have at least two payroll deposits in your account.
  • Use online banking verification. Accelerate your application by validating your personal information through instant bank verification.

16. Mr. Payday

Mr. Payday has been operating in Canada since 2002. It provides payday loans across AB, BC, ON. It operates a storefront location in Vancouver. It offers emergency loans for the unemployed in Canada as long as you show proof of income from CPP, EI or WCB.

How fast you can get it: Get this urgent loan in as little as 30 minutes during business hours.

Loan details

  • Interest rate: Varies by province
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Minimum income: $1,100/month
  • Incomes it accepts: Employment, CPP, EI, WCB, non-government disability benefits
  • Serviced provinces: AB, BC, ON
  • Accepts bad credit: Yes
  • Instant approval: Yes
  • Credit check required: No

Tips to get your money fast

  • Make sure you meet eligibility criteria. Only apply if you’re at least 19 years old, make at least $1,100 per month, have your payroll deposited in your account and have an active bank account/phone number.
  • Use online banking verification. Accelerate your application by validating your personal information through instant bank verification.

Dive deeper Mr. Payday review

17. Magical Credit

Magical Credit offers urgent loans for bad credit in Canada. It has a quick application process and free prepayment. You can apply for emergency loans for the unemployed in Canada (as long as you show proof of income from Child Tax Benefit, CPP, EI, private pension or maternity leave).

How fast you can get it: You can get an emergency loan within 24 to 48 hours.

Loan details

  • Interest rate: 19.99% - 46.80%
  • Loan amount: $1,500 – $20,000
  • Loan term: 12 months - 5 years
  • Minimum income: $1,200/month
  • Incomes it accepts: EI, CPP/pension, child tax benefit, maternity leave income
  • Minimum credit score: 300
  • Serviced provinces: Canada-wide (excluding Manitoba, Saskatchewan and Quebec)
  • Accepts bad credit: Yes
  • Instant approval: No, approval within 24 hours
  • Credit check required: Yes

Tips to get your money fast

  • Have your documents ready. If applying manually, be ready with a piece of ID, two recent pay stubs, an employment letter, your SIN and a recent bill to your current address,
  • Use online banking verification. Instantly verify your ID and banking information by logging into your bank account.
Dive deeper Magical Credit review

18. 24Cash

24Cash.ca offers short-term personal loans in Canada. You can apply for up to $500 online for your first loan. Take up to three months to repay your loan and renew for a new emergency loan when your balance is paid down to $150.

How fast you can get it: Apply before 1pm EST to get your loan on the same day. If you apply after this time, you must wait up to 24 business hours.

Loan details

  • Interest rate: 22% + $225 broker fee
  • Loan amount: $500 – $850
  • Loan term: 90 - 150 days
  • Minimum income: $1,200/month
  • Incomes it accepts: Employment
  • Minimum credit score: No min. credit score
  • Serviced provinces: All Canadian provinces except Manitoba, Quebec and Saskatchewan.
  • Accepts bad credit: Yes
  • Instant approval: Approval within an hour
  • Credit check required: No

Tips to get your money fast

  • Use online banking verification. Sign in to your bank account to validate your personal and banking information, with no need to send in documents.
  • Make sure you meet eligibility requirements. Show proof that you’re at least 18 years old, a Canadian citizen/resident with a steady job (at least three months), a low short-term debt ratio and a monthly income of at least $1,200.

Dive deeper 24Cash review

Frequently asked questions about emergency loans

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