Bad Credit Loans in AB With Fast, Flexible Approval

If you’re having trouble getting approved for a personal loan from a traditional lender, there are other options available. Alternative lenders offer bad credit loans in Alberta, making it possible to gain fast access to the funds you need. However, be prepared for high interest rates and fees.

This guide covers a variety of loans available to Albertans with bad credit, so you can compare your options to find the best one for your needs.

Jump to:

• Personal loans (harder to get)
• Cash advance apps (easier to get)
• Payday loans (easier to get)

Compare bad credit personal loans in Alberta

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Finder Score	APR Range	Loan Amount	Loan Term	Broker Compliance	Key Features
Promoted Finder score 8.5 Great Spring Financial Installment Loan	Finder score 8.5 Great	9.99% - 34.95%	$300 - $35,000	6 - 84 months	Key features: Same-day funding, fast application	Go to site More info Compare product selection Compare	loading
Promoted Finder score 8.8 Great LoanConnect Installment Loan	Finder score 8.8 Great	8.99% - 35.00%	$500 - $2,500	3 - 6 months	Note: LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.	Key features: Loan search platform, pre-approval in 5 minutes	Go to site More info Compare product selection Compare	loading
Promoted Finder score 8.6 Great Loans Canada Installment Loan	Finder score 8.6 Great	8.99% - 35.00%	$500 - $50,000	4 - 60 months	Note: Loans Canada is a loan search platform. Apply once to get matched with lenders based on your credit and borrowing requirements.	Key features: Loan search platform, largest lender network	Go to site More info Compare product selection Compare	loading

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How we picked these

Finder Score for personal loans

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 40+ personal loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

Compare cash advance apps for bad credit

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Finder Score	Costs	Loan Amount	Loan Term	Rebate	Key Features
Finder score 8.7 Great KOHO Cover	Finder score 8.7 Great	0% + monthly fee from $2	$20 - $250	Flexible	Key features: Instant, no credit check or income required	Go to siteMore info Compare product selection Compare	loading
Finder score 8.8 Great Bree Early Pay	Finder score 8.8 Great	0%	$20 - $500	Next pay cycle	Key features: Instant e-transfers, 24/7, no credit check	Go to siteMore info Compare product selection Compare	loading
Finder score 9.3 Excellent Nyble Credit Line	Finder score 9.3 Excellent	0%	$30 - $250	31 days, extendable	Use code CFIND1J to get 500 extra points and a $5 higher approval. T&Cs apply.	Key features: Instant e-transfers, 24/7, no credit check	Go to siteMore info Compare product selection Compare	loading

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Finder Score for cash advance apps

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 5+ cash advance apps are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

Compare payday loans for bad credit

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Cost	Loan Amount	Loan Term	Serviced Provinces	Key Features
iCash Payday Loan	$14 per $100 borrowed	$100 - $1,500	7 - 62 days	AB, BC, MB, NB, NS, ON, PEI	Key features: 24/7 instant approval and e-Transfer, accepts bad credit	Go to siteMore info Compare product selection Compare	loading
Cashco Financial Payday Loans	$14 per $100 borrowed	$50 - $1,500	Up to 62 days	AB, BC and SK	Key features: Instant approval, no credit check	More info Compare product selection Compare	loading
Money Mart Payday Loan	$14 per $100 borrowed	$100 - $1,500	1 - 62 days	AB, BC, NS, ON, SK and MB	Key features: In-store and online no credit check loans, accepts many income types	More info Compare product selection Compare	loading

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What are the interest rates of bad credit personal loans in Alberta?

As of January 1, 2025, personal loan lenders in Alberta and everywhere else in Canada can’t charge you more than 35% APR. This is a big reduction from the previous maximum of 47% APR.

Cash advance apps have 0% interest and no mandatory fees for three-day delivery. You’ll pay a monthly fee if you want instant funding.

Finally, payday loans cost $14 for every $100 borrowed, which typically works out to APRs over 100%. Due to their high cost, they’re only suitable as a last resort.

What do bad credit loans in Alberta have in common?

Bad credit loans in Alberta share these key features:

• Easy eligibility requirements. Rather than focusing on your credit score, lenders will examine your income and spending to determine whether you can repay their loan.
• Convenient. You can get a loan without ever leaving your home, and you can get your money as soon as the same day.
• Unsecured. While some bad credit loans require collateral, such as car title loans, many do not.
• Lower loan amounts. Generally, subprime lenders offer smaller loan amounts than prime lenders. Because borrowers with bad credit are more likely to default, lenders reduce their risk by limiting how much they lend.

How do they differ?

While personal loans, cash advance apps and payday loans share some similarities, they differ in several important ways. Personal loans generally let you borrow larger amounts than payday loans or cash advance apps, and they can be repaid over months or even years. Payday loans in Alberta, by contrast, must be repaid within 62 days in at least two installments. Cash advance apps usually have short repayment periods like payday loans, but they often allow extensions.

Costs also vary: cash advance apps don’t charge interest but may require a subscription fee for instant funding, while both personal loans and payday loans charge interest.

Do I qualify?

There’s a chance to get a bad credit loan if you’re at least 18 years old, have an active bank account in your name, and you’re not spending more than you’re earning every month. Having no active payday loan debt will also help you qualify.

If you’re looking for lenders with the highest chances of approval, check out cash advance apps like KOHO, Bree and Nyble. KOHO, for example, doesn’t do credit checks and has no job or income requirements.

What to watch out for with bad credit personal loans

There are a few risks and traps you should be aware of before you take out a bad credit loan in Alberta:

• Expensive. Lenders view borrowers with bad credit as being at a higher risk of defaulting on their loans. As a result, bad credit personal loans in Alberta come with higher interest rates than traditional personal loans and will cost more to repay.
• Fees and charges. Make sure you’re aware of any fees that apply to your loan. These may include origination or admin fees, broker fees, late payment penalties and fees for repaying the loan early. Remember to check any loan’s annual percentage rate (APR) to get a clear picture of how much it will cost.
• Predatory lenders. Unfortunately, you’ll need to be wary of personal loan scams when searching for a bad credit loan, so it’s important to research your lender carefully. Make sure the lender is registered in Alberta, and review all loan documents carefully before you sign on the dotted line.

How to get a loan with bad credit in Alberta

You can apply for bad credit loans in Alberta by completing the following steps:

1. Compare lenders. Explore lenders that offer bad credit loans to Albertans. Check their loan features, eligibility criteria and reputation to make sure they meet your needs.
2. Apply online. Fill out an application with your personal details, such as name, contact info and employment situation. You may need to connect your bank account so that the lender can verify your income and identity.
3. Get a decision. You’ll usually hear back in a few minutes with most bad credit lenders, especially if you apply to a payday lender or cash advance app.
4. Review the loan offer. When you get your official loan offer, read over it carefully. Check the interest rate, fees, loan amount, term and payment schedule before you sign.
5. Get your funds. The money will be deposited into your account within a few minutes, a few hours or the next day, depending on the lender you go with.

What can I use a bad credit loan for in Alberta?

You can use an Alberta bad credit loan for just about anything, provided it’s nothing illegal. Most lenders don’t impose any restrictions on how you use the funds, so you might want to use your loan to do the following:

• Pay unexpected bills
• Cover essential day-to-day expenses until your next payday
• Pay for car repairs
• Make a major necessary purchase, such as a new fridge or washing machine
• Consolidate debt

Signs of a legitimate lender of bad credit loans in Alberta

How do you know whether a lender is legitimate? Look for the following signs:

• The lender is licensed. For example, all payday lenders in Alberta must have a payday loan licence. Check if a provider is licensed by searching online through Service Alberta.
• The lender abides by payday loan regulations. Payday loans are regulated in each Canadian province. In Alberta, loans must be $1,500 or less, have a term of 42 - 62 days, and have a maximum fee of $14 for every $100 borrowed.
• The lender is easy to find and contact. Look for a lender with a physical address for their head office and that is contactable via email and phone.
• The lender is transparent about loan costs. Make sure the lender you choose is upfront and honest about how much the loan will cost you. If the rates are unclear or there are hidden fees, walk away.
• The lender doesn’t offer guaranteed approval. Reputable lenders will assess your financial situation before approving a loan, so promising guaranteed approval is a major red flag.
• The lender has positive reviews. Look for a lender with positive reviews on reputable sites like Trustpilot and the Better Business Bureau.

Bottom line

It’s still possible to get loans in Alberta even if you’re worried about your credit history. But these types of personal and payday loans are expensive, so make sure you understand the total cost of borrowing before you apply. It’s also important to compare a range of lenders and loans to find the right loan from a reputable lender.

Frequently asked questions

• Can I get no credit check loans in Alberta?

  Yes, you can get no credit check loans in Alberta, but watch out for high interest rates and extra fees, such as brokerage fees, appraisal fees and title search fees. No credit check loans you can get in Alberta include payday loans, short-term installment loans, cash advances and car title loans.

• What's the easiest loan to get with bad credit in Alberta?

  The easiest loan to get with bad credit is a payday loan or cash advance.

• Can I get guaranteed loans in Alberta?

  Avoid lenders advertising guaranteed loans in Alberta. Legitimate lenders review an applicant's financial situation, such as their credit score, income and existing debts, before giving approval.

• Where can I get 24/7 loans with bad credit in Alberta?

  You can get bad credit loans in Alberta 24/7 from payday loans like iCash and LoanExpress as well as cash advance apps like KOHO and Nyble.

Written by

Leanne Escobal

Publisher

Leanne Escobal is a publisher at Finder with more than 12 years of experience in financial products and services, with a focus on content strategy and marketing. She has completed the Canadian Securities Course (CSC®) as well as the Personal Lending and Mortgages course through the Canadian Securities Institute. Leanne holds a Bachelor of Arts (Honours) in English literature and creative writing from Western University. See full bio

Leanne's expertise

Leanne has written 175 Finder guides across topics including:

• Personal Loans
• Car Loans
• Business Loans
• International Money Transfers
• Make Money Online

Co-written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

Tim's expertise

Tim has written 502 Finder guides across topics including:

• Banking
• Personal Loans
• Car Loans
• Stock Trading
• Cryptocurrency