Get 1 hour loans with no employment verification in Canada

If you’re unemployed but still have some form of money coming in, then you could still qualify for a loan. While most personal loan lenders require employment income, payday loan or installment loan lenders can offer loans in as little as 1 hour with no employment verification in Canada. These types of loans rely on other factors, such as your credit score or non-employment income, so you won’t need to hold a job to qualify.

Can I get a 1 hour loan with no employment verification in Canada?

Yes, you can get a loan in as little as 1 hour with no employment verification. With a payday loan, you may even be able to receive funds within 5 minutes of approval.

Whatever loan type you choose, you may need to either prove you have a good credit score (between 660 and 900), enough money in your bank (or in assets), or enough non-employment income to repay your loan on time. Some examples of non-employment income are the Canada Child Benefit (CCB), employment insurance (EI), disability benefits, investment dividends or your pension.

Option 1: 1 hour payday loans with no employment verification in Canada

The lenders below accept non-employment income as long as it’s recurring.

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Name	Product	Loan Amount	Loan Term	Interest Rate	Turnaround Time	Serviced Provinces	Offer	Table description
Cash Money Payday Loan Cash Money Payday Loan		$100 - $1,500	5 - 40 days	Varies by province	As little as 15 minutes with INTERAC e-Transfer	BC, NL, NS, ON, SK	Apply for your first $300 payday loan at a $20 cost (excludes SK applicants).	Instant decision and e-Transfer funding. Income of at least $1,000/month required.	Go to site View details	Compare	loading Fetching your data...
iCASH Payday Loan iCASH Payday Loan		$100 - $1,500	7 - 62 days	Varies by province	As little as 2 minutes with INTERAC e-Transfer	AB, BC, MB, NB, NS, ON, PEI	Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.	24/7 instant approval and e-Transfer funding. Income of at least $800/month required.	Go to site View details	Compare	loading Fetching your data...

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What is a payday loan?

A payday loan is a small but expensive loan of up to $1,500. You typically repay it the next time you receive your income. The fastest payday lenders in Canada can offer 1 hour loans with no employment verification. You’ll just need to make sure your bank account accepts e-transfer, which is the fastest funding method.

Tips to speed up the process and get your loan in 1 hour

• Submit your application during business hours. If it’s outside business hours, apply to a lender that does e-transfer payday loans 24/7.
• Ensure there are no errors on your application.
• Be prepared to connect your bank account details via online banking verification. Most lenders of instant payday loans require this for fast approvals.

What to watch out for

The biggest drawbacks with 1 hour loans with no employment verification are the cost and repayment term. Payday loans have a steep borrowing fee between $14 to $17 for every $100 borrowed, and you’ll repay it in full by your next payday.

Before you apply for 1 hour loans using your non-employment income, make sure you’ll have enough income left to pay for other expenses once you repay your loan. Otherwise, you may find the need for another loan.

Option 2: Installment loans with same day approval and funding

The lenders below aim to give approval on the same day. You may need to wait more than 1 hour to get your loan.

Sort by:

Name	Product	Interest Rate	Loan Amount	Loan Term	Requirements
Loans Canada Installment Loan Loans Canada Installment Loan		8.00% - 46.96%	$500 - $50,000	4 - 60 months	Requirements: min. credit score 300	Go to site View details	Compare	loading Fetching your data...
LoanConnect Installment Loan LoanConnect Installment Loan		32.00%	$500 - $2,500	3 - 6 months	Requirements: min. credit score 300	Go to site View details	Compare	loading Fetching your data...

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What are installment loans?

Installment loans come in larger amounts – between $$500 and $10,000 – with lower interest rates than payday loans but higher rates than traditional personal loans. Lenders will need to verify your source of income, but it often doesn’t have to be employment income. Some installment loans can accept government benefits such as CCB, disability or EI.

Installment loans may take longer than 1 hour to process but can still be much quicker than other types of loans.

Tips to speed up the process and get your loan as fast as possible

• Submit your application in the morning on a business day.
• Ensure there are no errors on your application.
• Be prepared to connect your bank account details via online banking verification. Most lenders of fast personal loans require this for quick approvals.
• Prepare your banking information in advance, such as a void cheque or your transit (branch) number, financial institution number and account number.

18 best emergency loans in Canada

Can I get a 1 hour loan with no employment verification and bad credit?

As long as you have steady non-employment income, there are 1 hour loan options available to you even if you have bad credit. You can apply and get approved for a payday loan. But treat payday loans as a last resort since they are extremely expensive.

Some installment loans also accept borrowers with bad credit and regular non-employment income, but approval really boils down to the lender. Some lenders have more flexible eligibility criteria than others. To find the right lender for your situation, you might want to search the lender networks of online brokers like Loans Canada and LoanConnect. These brokers have large networks, and you can see your lender matches for free by filling out one simple application. Compare installment loans.

How to compare unemployment loans with no job verification in Canada

Before you go ahead with your application for a no employment verification loan, compare lenders based on the following factors:

• Interest rates. Low interest rates can save you thousands of dollars in interest over the course of your loan.
• Fees. Keep an eye out for fees like NSF fees, late payment fees, origination fees and prepayment penalties. Steer clear of lenders that ask you to pay a fee before you get your loan.
• Term. Find a loan that is a good length for you. It should be long enough to make monthly payments affordable and short enough to save you money on interest.
• Repayment conditions. You should take time to find a lender that will work with you to set the best terms for your loan, including renegotiating payments if you can’t afford them.
• Customer service. Aim to work with a reputable lender. You can check their online ratings or look at a comparison site like this one to see which ones are trusted by other customers.

How do I get a loan without a job?

If you’re in between jobs but have a strong record of repaying your loans on time, you can apply for a no employment verification loan by following these steps:

1. Check your credit score. If you want to figure out if you qualify, you’ll need to check your credit score. The higher your credit score, the higher your chances of getting approved.
2. Compare lenders. Your next step should be to compare lenders to find the best interest rates and terms for your loan. Compare installment loans or payday loans.
3. Fill out your application. When you find the “golden” combo, you’ll need to apply for your loan by filling in your personal details.
4. Verify your identity. You’ll be required to prove your identity by submitting a government-issued piece of ID. You may also need to submit your bank statements.

Other loans with no employment verification

Below are other financing options to consider if you don’t want employment verification:

• Guarantor loans. You’ll be much more eligible to apply for a no employment verification loan if you have a cosigner who has good credit. A cosigner agrees to cover your loan repayments should you default on them. Learn more about cosigned loans.
• Borrowing from loved ones. If you’re struggling to repay your debts, it might make more sense to ask your family or friends for a no interest loan. Learn more about family loans.

FAQs about 1 hour loans with no employment verification in Canada

• Which app gives a loan instantly in Canada?

  Payday loan apps, like iCASH and Cash Money, will allow you to fill out an application and get approved for a payday loan instantly in Canada. Like all payday loans, you'll be able to borrow a maximum of $1,500, and typically have to pay back your loan with your next paycheque. Read our full guide to pay advance apps in Canada to learn more.

• How do I get my credit score?

  You can fill out a free application online with Equifax or TransUnion to get your credit score sent to your mailing address. Read our full guide to credit scores to learn more.

• Can I get a loan on unemployment?

  Yes, some lenders across Canada offer loans to people on unemployment. The most common type of unemployment income these lenders will accept is typically employment insurance (EI). If you're currently receiving EI and are searching for a loan, check a lenders income requirements before applying, or compare your options above.

• How much can I borrow with a no employment verification loan?

  This will depend on your credit score as well as on whether your loan is secured against an asset. It will also be impacted by whether you have a cosigner and how much your bank is willing to lend. Payday loans are the most common type of 1 hour loan with no employment verification in Canada, where you can borrow up to $1,500.

• Can I get a loan without proof of employment?

  Yes, but you'll still have to show that you're earning some form of income. This could mean receiving welfare payments, pension, being self-employed or receiving a regular deposit into your account from investments.