Are you looking to use your BC disability income to take out a loan? Finding a lender willing to accept your disability benefits as income is your first step to getting financing.
Can I get a loan while on BC disability assistance?
Yes. While traditional lenders such as banks may not approve those receiving BC disability assistance, there are alternative lenders who can. These lenders have more generous eligibility criteria and can approve you as long as your BC disability income is paid regularly into your bank account, and you receive enough income to repay the loan.
Below are legitimate lenders that accept Persons with Disabilities (PWD) income in BC.
Compare cash advances for people on disability in BC
You can get a small, instant loan from one of the cash advance providers below. They can consider your application as long as your disability benefits are being paid into your bank account.
Loan provider
Interest rate
Loan amount
Loan term
Key features
Early Pay
No interest or fees to access cash advance, fee for express funding (varies based on advance)
$20–$250
Next pay cycle (61 days max.)
24/7 approval and funding, instant transfers with a fee, no credit check
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. 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.
Compare payday loans that accept BC disability income
Payday loans have flexible eligibility requirements, which is why people on disability income have more options for this loan than other types of loans. But given payday loans’ very high rates, only consider them when you’ve exhausted all other options.
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
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
Types of disability loans in BC
Some lenders see regular disability payouts as proof that you can pay back what you borrow. Because of that, they’re willing to provide financing. Below is a breakdown of the different types of loans that you may qualify for if you’re receiving disability assistance as a British Columbia resident:
You can apply for PWD payday loans online or at a store. If you apply in-store, you’ll provide documents such as government-issued ID and bank statements, get approved on the spot and walk out with your loan.
Applying online for PWD payday loans is faster and more convenient. In some cases, you won’t need to send any documents. Instead, you’ll log in to your bank account and give the lender view-only access to your bank statements.
Features of online payday loans for BC disability
Borrowing fee. PWD payday loans have a maximum borrowing fee of $15 for every $100 borrowed. A BC payday lender cannot charge you more than that, and they also cannot require you to get insurance so you can take out a payday loan.
Loan amounts. You can borrow up to 50% of your income, up to a maximum of $1,500.
Loan terms. PWD payday loans are typically repaid in full the next time you get your BC disability payment. However, if this is your third payday loan in two months, its repayment must be spread over two pay periods minimum.
Bad credit is okay. Payday loans have more lenient requirements, and many payday lenders can approve borrowers with poor credit.
Cancellation period. You have two business days to cancel a payday loan in BC without penalty.
No early repayment penalty. Repay your loan in full any time without penalty.
Can you get e-Transfer loans on BC disability assistance?
Yes, there are online payday lenders that offer e-Transfer loans and accept BC disability assistance. You’ll just need to have an active bank account and be registered with your bank to send and receive e-Transfers.
Examples of lenders that offer e-Transfer loans on BC disability income include:
Before you apply for online payday loans that accept BC disability
Know the true cost of a payday loan. Payday loans are extremely expensive. If you look at their borrowing fee as an annual percentage rate (APR), the rate is can easily be over 300%.
Be wary of payday loan scams. Be cautious of where you share your personal and financial information online. Only apply to a licensed payday lender that follows BC payday loan regulations.
Make sure you’ll have enough BC disability income. Before you take out a payday loan using your BC disability income, be certain you can repay the loan by your next BC disability assistance payment, or you could be charged an NSF fee and late fee. Also check that you’ll have enough income to pay for other debts and bills once you repay your payday loan on the due date.
2. Installment loans for disability income in BC
Installment loans are offered by alternative lenders with lenient eligibility requirements, including those who accept BC disability assistance. These loans have lower loan amounts, shorter loan terms and higher interest rates compared to standard personal loans. Still, they are typically cheaper than payday loans if you’re considering different disability loans in BC.
You can apply online for installment loans that accept disability.
Features of BC disability installment loans
BC PWD income is okay. As long as you have recurring income paid via direct deposit, lenders can approve you.
Pay in installments. Pay a fixed amount, usually bi-weekly or monthly.
Interest rates. Interest rates can range from 18% to 47% based on your credit score, loan provider and other personal factors.
Loan amounts. Installment loans are usually issued in the $500 to $10,000 range.
Loan terms. Term lengths often last between 3 - 60 months.
No prepayment penalties. You can often pay off your installment loan early without facing any fees.
Bad credit is okay. Online lenders can accept fair or bad credit under 660, provided that you meet other eligibility criteria.
Can you get e-Transfer installment loans on BC disability assistance?
Some lenders of disability installment loans can send money via Interac e-Transfer, while others only use the slower method of direct deposit. If e-Transfer funding is important to you, check with the lender before you apply.
Before you apply for installment loans that accept PWD income
Know how much you’ll pay in interest and fees. You may find that the lender charges a hefty broker or surety fee, which will drive up the cost of your loan.
Check that the lender is legit. Be wary of lenders guaranteeing approval, and while there are legitimate no credit check loans, be cautious of lenders that advertise this, too.
3. Pay advances for recipients of disability benefits
Pay or cash advances let you borrow a small portion of your paycheque in advance. You don’t need to have employment income and can use BC disability assistance to qualify.
Features of pay advances for PWD benefits
BC disability assistance is accepted. Lenders generally don’t care what type of income you have as long as it’s paid directly into your bank account.
Interest rates. These loans don’t charge interest, but you may pay a monthly subscription and an extra fee for instant funding.
Loan amounts. Borrow $20 – $250.
Loan terms. Depending on the provider, repay by your next day or take some time to repay your loan.
No credit check. These loans don’t involve credit checks.
Can I get a pay advance via e-Transfer?
Yes. Providers of pay advances can fund you via direct deposit or e-Transfer.
Before you apply for an early pay advance using your BC disability income
Be prepared to connect your bank account. The lender will ask to view your bank statements so it can verify your income and identity.
Wait if you have NSF transactions. Recent NSF fees on your bank account will lower your chances of approval.
4. Auto title loans for BC disability recipients
Auto title (sometimes referred to as car title) loans are secured by your vehicle. You can typically qualify for anywhere from 25% to 50% of your car’s value. It’s also often a requirement that you own your car outright and it’s paid off.
Auto title loans are secured by your car, so you can often qualify for more competitive rates even if you have bad credit. You do, however, risk losing your car if you default on the loan.
Features of BC disability auto title loans
BC disability is valid income. Lenders of this type of loan are more lenient with income because you’re offering your car as collateral, which lowers the risk for them.
Interest rates. The interest rate on an auto title loan can range from 9% 49%.
Loan amounts. Car title loans have higher minimum loan amounts compared to other loans in this article. They start at $1,000.
Loan terms. Term lengths often last between 3 - 60 months.
Bad credit is okay. Auto title loan lenders can accept fair or bad credit score borrowers, and some don’t even do credit checks.
Can I get a car title loan funded via e-Transfer?
It depends on the lender. Some lenders of vehicle title loans only use direct deposit, while others can do both direct deposit and e-Transfer.
Before you apply for a BC disability loan using your car
Make sure it’s affordable. Defaulting on this loan means you’ll lose your car.
Watch out for extra fees. Lenders of this loan will charge fees like appraisal fee and title search fee, which will make your loan more expensive.
Where should I apply for disability loans in BC if I have bad credit?
The loans mentioned above – payday loans, installment loans, pay advances and car title loans – all have lenient eligibility criteria, and people with bad credit can realistically get approved for these as long as they can show the lender they have the means to repay the loan.
Where you should apply for a disability loan with bad credit depends on your personal financial situation, but generally, payday loans are only suitable as a last resort because of their high rates and extremely short repayment terms. If you’re struggling financially, you may want to explore loans that give you the flexibility you need with repayments.
Can I get a loan with no credit check using my BC disability assistance?
Yes. Some lenders do not do credit checks and will focus on your income instead. You’ll need to show them proof of your income, such as recent bank statements. Be careful where you apply though, because not all lenders that offer loans with no credit check are legitimate.
How to apply for a loan on BC disability assistance
Follow these simple steps to apply for disability loans in BC:
Decide which type of loan you want to apply for. Compare the options above to help narrow down your choice of which loan is right for you.
Fill out an application. Most lenders will provide you with a detailed application form to fill out with your personal and banking information. Click “Go to site” above to begin your application with your chosen provider today.
Verify your identity. You’ll need to show your lender you are who you say you are. You can do this by showing a piece of government-issued ID like your driver’s licence or passport.
Show proof of income. This is where your BC disability assistance payments will come in handy. You can also show proof of income you earn from other sources, like the Canada Child Benefit or a part-time job.
Alternatives to getting a disability loan in BC
If you’re having trouble getting approved for a loan while on disability assistance, or you think the interest rate you’ll be approved for is more than you can afford to pay, it’s worth considering other options.
Get someone to cosign the loan. See if you can find a family member or friend with a good credit score who is willing to cosign on a loan with you. Just make sure that person understands that they will be held responsible for paying back the loan if you default.
Credit card cash advance. A credit card cash advance typically comes with an interest rate of around 23%, which can be cheaper than payday loans as long as you pay off your cash advance as soon as you can.
Visit 211.ca. It’s worth taking the time to explore financial or community support resources before taking on new debt.
What is PWD assistance in BC?
Living with a disability can be extremely challenging, especially when you have to worry about how you’re going to pay the bills. BC disability assistance is designed to lift some of that burden from your shoulders. It helps to cover the costs of basic living expenses (like food, clothing, shelter and prescriptions) for people living with disabilities.
The amount you’re eligible to receive depends on your income as well as the size of your family. You’re still allowed to work and earn money while you’re on BC disability assistance.
How do I qualify for BC disability assistance?
To apply for BC disability assistance, you’ll need to be at least 18 years old and must be able to prove financial need. You’ll also have to show you have a physical impairment that limits your ability to function in day-to-day activities. From there, you’ll need to fill out the Persons with Disabilities Designation Application on My Self Serve.
When is the next income assistance payment?
The schedule for the next income assistance payments is as follows:
May 15, 2024 (for June 2024)
June 19, 2024 (for July 2024)
July 17, 2024 (for August 2024)
August 21, 2024 (for September 2024)
September 18, 2024 (for October 2024)
October 23, 2024 (for November 2024)
November 20, 2024 (for December 2024)
December 18, 2024 (for January 2025)
Bottom line
You should have no problems using your BC disability assistance to help you qualify for certain types of loans, even if you have bad credit. You can generally choose between payday loans, installment loans, early pay advances and auto title loans. Payday loans tend to be the most expensive, so explore other options first.
Frequently asked questions
Yes, there are several reputable, online lenders who accept disability as a valid source of income for loans in BC. These lenders have lenient eligibility requirements compared to banks and credit unions. You can compare lenders in BC who accept disability income in our curated list here.
It depends. Lenders of personal loans have stricter eligibility requirements than payday lenders, and they are less likely to accept BC disability assistance as valid income. However, there are select alternative lenders that accept it.
You can get a payday loan, installment loan, early pay advance or vehicle title loan using your BC PWD income. You'll just need to apply to a lender that accepts this type of income because not all of them do.
Leanne Escobal is a publisher for Finder. She has over 11 years of experience in financial services, specializing in content and marketing. Leanne has completed the Canadian securities course (CSC®) as well as the personal lending and mortgages course by the Canadian Securities Institute. She has a Bachelor of Arts (Honours) in English literature and creative writing from Western University.
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