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Loans for part-time workers

If you work part-time and need a loan, here's what you need to know to explore your options.

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FlexMoney Personal Loan

FlexMoney Personal Loan logo
  • Rates from 18.90% - 46.93%
  • Loan term from 6 - 60 months
  • Pay off loan anytime
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Name Product Interest Rate Loan Amount Loan Term Requirements Credit Score Link
LoanConnect Personal Loan
Secured from 1.90%, Unsecured from 5.75%-46.96%
$500 - $50,000
3 - 120 months
Currents debts must total less than 60% of income
Min. credit score: 300
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An online broker who helps inform clients towards better finances. Get pre-approved by different lenders for unsecured or secured loans in 5 minutes with any credit score.
goPeer Personal Loan
8.00% - 31.00%
$1,000 - $25,000
36 - 60 months
Recommended income of $40,000 /year
Min. credit score: 600
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Canada's first regulated consumer peer-to-peer lending platform offering unsecured loans. Connects creditworthy Canadians looking for a loan with Canadians looking to invest. goPeer strives to offer the most competitive interest rates. Apply in minutes and get a response within 24 hours.
Spring Financial Personal Loan
17.99% - 46.96%
$500 - $15,000
9 - 48 months
Min. income of $1,800 /month, 3+ months employed
Min. credit score: 400
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An online lender offering unsecured personal loans and credit builder loans. Those filing for bankruptcy or a consumer proposal can also apply. If you're not eligible for an unsecured loan, you may be offered a loan to help rebuild your credit.
ConsumerCapital Personal Loan
19.99% - 34.99%
$1,500 - $12,500
24 - 60 months
Min. income of $1,900 /month, 6+ months employed
Min. credit score: 600
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An online lender that provides fast unsecured personal loans. Complete an application in less than 10 minutes and get a decision within 24 hours. For faster loan approval, complete the Flinks bank integration in the app.
SkyCap Financial Personal Loan
12.99% - 39.99%
$500 - $10,000
9 - 36 months
Min. income of $1,200 /month, stable employment
Min. credit score: 550
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An online lender offering unsecured personal loans to borrowers with a wide range of credit scores. Apply in less than 5 minutes and if approved, receive financing in as little as 24 hours.
FlexMoney Personal Loan
18.90% - 46.93%
$500 - $15,000
6 - 60 months
Min. income of $2,000 /month, 3+ months employed
Min. credit score: 500
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An online lender offering flexible unsecured loans. Apply in less than 10 minutes and if approved, receive financing in as little as 24 hours. Pay off your loan at any time.
Loans Canada Personal Loan
Secured from 2.00%, Unsecured from 8.00% to 46.96%
$300 - $50,000
3 - 60 months
No min. income or employment requirements
Min. credit score: 300
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An online broker with the largest lender network in Canada. Get matched for free with lenders offering both unsecured and secured loans through one quick application regardless of your financial situation.
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Mogo Personal Loan
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Min. income of $13,000 /year
Min. credit score: 500


Mogo offers a 100-day money-back guarantee. If you're not happy with your loan, pay back the principal and get your 100 days of paid interest and fees back.
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An online lender who aims for a hassle-free process through same-day unsecured loan approval and funding. Get a loan fast and track your credit score for free.
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
$500 - $25,000
6 - 60 months
Able to make monthly repayments on your loan
Min. credit score: 560
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An online lender with a team dedicated to professional service. Get a quote for an unsecured loan without impacting your credit score. Receive funds within as little as 24 hours. No prepayment fees.
Fairstone Personal Loan (Secured)
19.99% - 23.99%
$5,000 - $50,000
60 - 120 months
Must be a homeowner
Min. credit score: 560
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Use your home equity to get a secured loan up to $50,000 with flexible repayment options and a long loan term. Get a quote without impacting your credit score.
Loan Away Personal Loan
19.90% - 45.90%
$1,000 - $5,000
6 - 36 months
No min. income or employment requirements
Min. credit score: 300
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A lender that approves unsecured loans in as little as 20 minutes. Get affordable monthly repayments with any credit score.
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According to Statistics Canada, around 9% of Canadians worked part-time in 2020, meaning they worked fewer than 30 hours a week. If you’re a part-time worker, you’ve probably had a tough time finding lenders that accept your employment — especially if you’ve been looking at bank loans. If you’ve been having trouble finding a lender that accepts part-time employment, consider these online loan options while you work on building your credit and making your application stand out.

Am I considered a part-time worker?

In Canada, a part-time employee is someone who works less than 30 hours a week. This could mean someone might work 10 hours per week or 29 hours a week and still be considered a part-time employee. Part-time employees also might not be able to take advantage of benefits that full-time employees enjoy, such as health coverage, paid holidays and more.

Loan options for part-time workers

There are a couple of different types of loans that part-time workers can explore: personal loans and installment loans.

Compare installment loans

Installment loans come in larger amounts and with longer terms than their personal loan cousins, though they’re generally smaller than your average personal loan. They can also come with higher rates than personal loans. You can typically borrow up to $2,000 or more and take 3 months to a few years to pay it off.

Name Product Interest Rate Loan Amount Loan Term Requirements Credit Score Link
LoanConnect Installment Loan
32.00%
$500 - $2,500
3 - 6 months
Currents debts must total less than 60% of income
Min. credit score: 300
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Get approved by different lenders in as little as 60 seconds with any credit score. Access resources to help you work toward better finances.
FlexMoney Installment Loan
18.90% - 46.93%
$500 - $15,000
6 - 60 months
Min. income of $2,000 /month, 3+ months employed
Min. credit score: 500
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Apply online in less than 10 minutes and if approved, receive financing in as little as 24 hours. Pay off your loan at any time.
Loans Canada Installment Loan
8.00% to 46.96%
$500 - $50,000
3 - 60 months
No min. income or employment requirements
Min. credit score: 300
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An online broker with the largest lender network in Canada. Get matched with lenders for free through one quick application regardless of your financial situation.
Mogo Installment Loan
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Min. income of $13,000 /year
Min. credit score: 500


Mogo offers a 100-day money-back guarantee. If you're not happy with your loan, pay back the principal and get your 100 days of paid interest and fees back.
Go to site
More Info
An online lender who aims for a hassle-free process through same-day unsecured loan approval and funding. Get a loan fast and track your credit score for free.
SkyCap Installment Loan
12.99% - 39.99%
$500 - $10,000
9 - 36 months
Min. income of $1,200 /month, stable employment
Min. credit score: 550
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An online lender offering installment loans to borrowers with a wide range of credit scores. Apply in less than 5 minutes and if approved, receive financing in as little as 24 hours.
Fairstone Installment Loan
26.99%-39.99%
$500 - $25,000
6 - 60 months
Able to make monthly repayments
Min. credit score: 560
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Receive a personalized no-obligation loan quote in minutes without affecting your credit score. Finalize your loan application online and receive your funds as quickly as the same day.
Cash Money Installment Loan
46.93%
$500 - $10,000
6 - 60 months
Stable source of income
Min. credit score: 560
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Cash Money offers installment loans up to $10,000 for Alberta, Manitoba and New Brunswick residents. Online installment loans are available in Alberta only. Residents of Manitoba and New Brunswick must apply in-store.
Loan Away Installment Loan
19.90% - 45.90%
$1,000 - $5,000
6 - 36 months
No min. income or employment requirements
Min. credit score: 300
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Get approved for an installment loan in as little 20 minutes. Get affordable monthly repayments no matter your credit score.
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How can part-time employees get approved for loans?

While approval for a loan is never guaranteed, here are some tips to increase the chances of getting your application approved:

  • Check the minimum income. You’ll need to make sure you meet the lender’s minimum income requirement. As long as you have the cash flow to support a loan payment, a lender may be more likely to approve your application.
  • Maintain a low debt-to-income ratio. Some lenders care more about your debt-to-income ratio. This number shows how much disposable income you have each month after you pay off your debts, giving lenders a clear picture of what you can afford.
  • Stick with your employer. The longer you’ve been employed, the more stable your finances will appear to a lender, even if you’re only doing part-time work.
  • Sign up for direct deposit. Along with physical pay stubs, this will be a way for lenders to verify your income through your bank account. Stable part-time work will look good to a potential lender.
  • Get in touch with the lender. This is the best way to check everything before submitting your application, and it reduces the risk of rejection if you can identify any other areas that might need working on.

Steps to take if your personal loan application has been denied

Seven ways to appear less risky to lenders

To tip the approval scale in your favour when applying for a loan, here are a few things you can do:

  1. Work for a year, then apply. If you’ve been employed at the same place for at least 12 months, you’ll be considered much less of a risk. However, some lenders will only want to see 3 to 6 months of steady employment in order for approval.
  2. Get a letter from your employer. It could help your application by providing a letter from your employer that confirms your employment and future work schedule.
  3. Make your current repayments on time. Lenders want to see a strong credit report with little to no negative spots. Make sure you stay on top of your finances by paying your bills on time and keeping your credit score up.
  4. Don’t apply for multiple loans. Lenders are able to see any credit accounts and loans that you apply for. If you apply for multiple loans, your credit score may lower a few points, making you appear as more of a risk.
  5. Build your savings. If you can show evidence of savings to a lender, it may be more inclined to give you a loan, especially if it’s a car loan or another secured loan that requires a down payment.
  6. Apply with your own bank. Your own bank will have more concrete evidence of your financial history than your credit file and if this history is positive, you’re more likely to be approved.
  7. Consult an accountant. When you apply for personal loans, an accountant can help you keep track of your tax returns, savings and spending. In addition, having an overview of your finances can help you decide if a loan is the right move.

Bottom line

While not all lenders are willing to extend loans to part-time workers, those that do care more about your ability to repay the loan. Always compare your options before you apply for a loan and be sure to check the minimum income before you apply for a loan to make sure you’re eligible. If it’s unclear, reach out to the lender and ask before you lodge an application.

Want to learn more about personal loans? View our comprehensive guide to find out how they work.

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