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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Apply online and get instant approval from one of these direct payday lenders of $150 loans.
| $250 loan provider | Interest rate | Loan term | Serviced provinces | Key features | Link |
|---|---|---|---|---|---|
 Payday Loan | Varies by province | 7 - 62 days | AB, BC, MB, NB, NS, ON, PEI | Instant approval and funding 24/7, accepts bad credit | |
 Payday Loan | Varies by province | Up to 62 days | AB, BC, MB, NB, NS, ON, PEI, SK | Instant approval, same day loan, accepts bad credit |
| 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 |
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 a monthly subscription fee.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Early Pay | 0% interest for cash advances but a $2.99 monthly membership fee applies, fee for express funding (varies based on advance) | $20–$350 | Next pay cycle (61 days max.) | Easy to apply, no interest, same-day funding for a small fee, no credit check | |
 Credit Line | 0% interest and no fees to access credit, optional $11.99/month membership for premium services like instant funding | $30 – $150 | 30 days, extendable | Instant 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–$250 | Flexible | Easy application, no credit check, instant access to funds |
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 | $15 for every $100 borrowed | 14 days | $172.50 |
| $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 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.
Must read: Best payday loans in Canada
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.
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.
Related: Best instant loans in Canada
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:
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.
Related: No credit check loans in Canada
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.
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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