There are plenty of options for bad credit loans in New Brunswick if you know where to look. Some lenders might expect you to secure your loan with an asset or get a cosigner to qualify, while others will give you unsecured loans with no strings attached as long as you have a decent income. Just expect to pay high interest rates and fees with bad credit loans.

- Accepts bad credit borrowers
- Easy online application
- Quotes from multiple lenders
- Access cash within 1-3 business days

- Accepts bad credit borrowers
- Quotes from multiple lenders
- Pre-approval in 5 minutes
- Funds in as little as 24 hours
Best bad credit loans in New Brunswick
How we found the best loans
Finder experts collected 17 points of data for more than 40 lenders operating in Canada. Finder used this data to create a proprietary weighting formula that scores each lender based on rates, fees, terms, loan amounts, application process, funding speed, customer support, and reputation, among other features. The providers shown on the best list are those who scored highest based on this data-driven methodology. They are providers that are available and not available through Finder, with partners listed first. These loans are not representative of the entire market. Read more about the Finder personal loan ratings and review methodology.
1. LoanConnect
Loan amount
APR
Term
Why it's one of the best
- Save time. Your application will be cast wide and you'll get your results right after you apply.
- Easily compare offers. Compare offers from multiple lenders and log in regularly to see if new offers are available.
- Choose between secured and unsecured loans. Find a secured bad credit loan if you have an eligible asset or get a loan with no collateral.
- Pre-approval in five minutes
- Many bad credit loan options
- BBB-accredited with an A+ rating
- Fast funding
- Not a direct lender
- High rates for bad credit
- Miss out on offers from lenders not partnered with LoanConnect
Loan amount | $500 – $60,000 |
---|---|
APR | 8.99% – 35% |
Term | 3 - 120 months |
Min. credit score | 300 |
Fees | No application, origination or brokerage fees |
Turnaround time | Receive funds in as little as 24 hours. |
Serviced provinces | All provinces |
2. Loans Canada
Loan amount
APR
Term
Why it's one of the best
- Search a large lender network. Loans Canada works with over 60 verified lenders.
- Get approved. Only see lenders that match your profile.
- Work with an established company. Loans Canada has been in business since 2012. It has BBB accreditation with an A+ rating.
- Easy online application
- Quick deposits
- High loan amounts
- No collateral required to secure your bad credit loan
- High rates for bad credit
- No online quotes provided
- Limited to its network
Loan amount | $250 – $50,000 |
---|---|
APR | 9.99% – 35% |
Term | 3 - 60 months |
Min. credit score | 300 |
Fees | No application, origination or brokerage fees |
Turnaround time | Receive funds in as little as 24 hours. |
Serviced provinces | All of Canada |
3. Spring Financial
Loan amount
APR
Term
Why it's one of the best
- Get a loan from an established lender. Spring Financial has been providing bad credit loans in Canada since 2015 and has over 200 employees with headquarters in Vancouver, BC.
- Improve your credit score. Spring Financial reports payments to the credit bureaus so you can increase your credit score.
- Get quick funding. If you provide the required documents on time, you can get your bad credit loan the same day you apply.
- 100% online
- Fast funding via e-Transfer
- No prepayment penalties
- High rates for bad credit
- C- BBB rating, received complaints about the credit builder loan
Loan amount | $300 – $35,000 |
---|---|
APR | 9.99% – 34.95% |
Term | 9 - 90 months |
Min. credit score | 550 |
Fees | No fees except $30 NSF fee |
Turnaround time | Within 24 hours |
Serviced provinces | All of Canada |
4. Mogo
Loan amount
APR
Term
Why it's one of the best
- Get an instant decision. Get your free quote in three minutes without lowering your credit score.
- Apply easily online. Set up an account within minutes and get approval and funding within one to two days.
- Work with an established company. Mogo was founded in 2003 and is traded on the Toronto Stock Exchange.
- Convenient mobile app
- No prepayment penalties
- Bank-level security
- High rates for bad credit
- Some negative Mogo reviews online
Loan amount | $300 – $5,000 |
---|---|
APR | Up to 34.36% |
Term | Open |
Min. credit score | 600 |
Fees | None |
Serviced provinces | BC, AB, SK, MB, ON, NB, NS, NF, PEI, NU, NT |
5. Get Loan Approved
Loan amount
APR
Term
Why it's one of the best
- Lenient. Get Loan Approved specializes in personal loans for people with damaged credit. It doesn't do any credit checks, and you don't need to be employed.
- Apply easily. Apply online and then either drive to a Get Loan Approved agent near you or have an agent come to you for a car appraisal. The whole process can be completed within 24 to 48 hours.
- Increase your chances of approval. Since you'll be reducing the risk for the lender with collateral, you'll have a higher chance of getting approved.
- No credit check
- No employment requirement
- 24/7 customer service
- Potentially high rates
- Vehicle must be fully paid off
Loan amount | $1,000 – $50,000 |
---|---|
APR | 8% – 29% |
Term | 12 - 72 months |
Turnaround time | In as little as one hour |
Serviced provinces | AB, BC, MB, NB, NL, NS, ON, PEI, SK |
6. easyfinancial
Loan amount
APR
Term
Why it's one of the best
- Get a quick quote. Apply in minutes with no commitment and it won't affect your credit score.
- Work with a well-known lender. easyfinancial is one of the biggest lenders of bad credit personal loans in Canada.
- Improve your credit score. According to easyfinancial, one in three customers graduate to prime rates after making regular, on-time repayments.
- Secured and unsecured bad credit loans
- High approval rate
- BBB-accredited with an A+ rating
- Steep rates for bad credit
- Many negative customer reviews
Loan amount | $500 – $100,000 |
---|---|
APR | 9.99% – 35% |
Term | 9 - 240 months |
Min. credit score | 300 |
Fees | you may come across non-sufficient funds fees, late payment fees, missed payment fees or admin fees |
Turnaround time | Approval within 30 minutes |
Serviced provinces | all provinces |
7. Money Mart
Loan amount
APR
Term
Why it's one of the best
- Get your loan fast. Same-day funding is available, depending on the transfer method.
- Apply online or in-store. Get your loan online or at one of Money Mart's 500+ store locations.
- Get some leniency. Money Mart is less strict with its requirements than banks, credit unions and some alternative lenders. You can qualify with a chequing account and a regular source of income.
- Established lender
- Convenient mobile app
- Accepts non-employment income such as government benefits and private pension
- High interest rates
- In-store and online availability varies across provinces
Loan amount | $500 – $18,000 |
---|---|
APR | 29.9% – 34.28% |
Term | 6 - 60 months |
Min. credit score | 300 |
Fees | None |
Turnaround time | Less than 1 day |
Serviced provinces | AB, BC, MB, NS, NT, ON, PEI, SK, YT |
8. 24Cash
Loan amount
APR
Term
Why it's one of the best
- Get approval in one hour. Apply with instant bank verification and get approved quickly.
- Apply easily online. Fill out one quick form and provide your bank details to get approved. Get cash on the same day if approved before 2:30 PM EST.
- Established online broker. The company is active online and has solid customer reviews on Google and Trustpilot.
- No credit check
- Lower APRs than payday loans
- No paperwork required via instant bank verification
- Manual review available
- Three months to repay
- Government assistance not accepted as a form of income
- Very expensive
- Small maximum amount
- May not improve your credit score
Loan amount | $500 – $850 |
---|---|
APR | Starting at 22% |
Term | 90 - 120 days |
Min. credit score | 300 |
Fees | broker fee of up to $225 |
Turnaround time | Within 24 hours |
Serviced provinces | Canada-wide except Manitoba, Quebec and Saskatchewan |
9. LoansLoans
Loan amount
APR
Term
Why it's one of the best
- Avoid payday loans. LoansLoans.ca's installment loans have longer loan terms than payday loans, which means you can break up your repayments.
- Qualify. LoansLoans is open to many types of income as long as they're recurring. And since it doesn't do credit checks, you can qualify with bad credit.
- Work with an established broker. NCR Financial Services, the company that owns and operates LoansLoans.ca, has been around for over 15 years.
- No credit check
- Apply online in minutes
- Funding on the same day or next day
- High rates and fees
- Not very transparent about broker fees
Loan amount | $500 – $1,000 |
---|---|
APR | 28% – 32% |
Term | 3 - 12 months |
Min. credit score | 300 |
Fees | Late payment fee (2.66% per month), $45 NSF fee, broker fee |
Turnaround time | Receive funds in less than 24 hours |
Serviced provinces | All of Canada (except Manitoba) |
10. Lend For All
Loan amount
APR
Term
Why it's one of the best
- Save time. It works with a network of lenders that offer quick approval for customers with bad credit.
- Get fast pre-approvals. Lend for All provides quick pre-approvals within minutes by doing a soft check on your credit report.
- Find a loan for various purposes. Lend for All will match you with offers based on your needs.
- A+ BBB rating
- AI technology gives you viable loan matches
- Potential for multiple offers
- Many loan types
- Online broker (not a direct lender)
- Small network of lenders compared to other brokers
- High rates for bad credit
Loan amount | $100 – $50,000 |
---|---|
APR | Up to 35% |
Term | 3 - 120 months |
Min. credit score | 300 |
Fees | Varies by lender |
Turnaround time | Varies |
Serviced provinces | All provinces |
Alternatives to bad credit personal loans
Cash advance apps are easier to get approved for than personal loans because they involve smaller loan amounts and no credit checks.
Loan provider | Interest rate | Loan amount | Loan term | Key features | Link |
---|---|---|---|---|---|
Early pay | 0% | $20 – $500 | Next pay cycle (65 days max) | Small emergency loans, no credit check | |
![]() Small credit line | 0% | $30 – $250 | 30 days, extendable | Small emergency loans, no credit check |
How do bad credit loans work?
Bad credit loans in New Brunswick are designed for people with no credit history or a poor credit score – usually under 560-600. Simply fill out an application with your contact information and provide additional details on your income and employment. You may also need to undergo a credit check to get approved.
If you qualify, you’ll get a lump sum deposited into your bank account to spend on whatever you want. That said, you’ll pay much higher interest rates and fees than you would with a traditional loan to make up for the risk your lender has to take on when lending to you.
This is because having a low credit score, or no credit at all, can be an indication to your lender that you may be less likely to repay your loan on time, if at all.
Where can I find bad credit loans in New Brunswick?
Most financial institutions don’t offer bad credit loans as they focus on the prime market. You’re more likely to find bad credit loans with alternative lenders, with many offering same-day approval and funding online.
Types of bad credit loans in New Brunswick
There are several types of bad credit loans in New Brunswick that you can apply for. Learn more about the pros and cons of each below.
Unsecured personal loans
- How it works. Borrow up to $10,000 without the need for collateral
- How much it costs. 18% - 35% interest rate
- Pros. Borrow higher loan amounts with lower interest rates than payday loans
- Cons. Stricter eligibility criteria than other types of bad credit loans in New Brunswick
Secured personal loans
- How it works. Borrow a larger amount than with a unsecured loan when you use an asset such as your home or vehicle as collateral
- How much it costs. 10% – 35% interest rate, which includes some form of origination or appraisal fees
- Pros. Large loan amounts up to a percentage of your asset’s value, lower interest rates than other bad credit loans
- Cons. Requires collateral, longer processing times, you could lose your asset if you default, may come with higher fees
Payday loans
Note: Payday loans are a different product from personal loans and are more expensive.
- How it works. Borrow up to $1,500 and pay it back by your next payday.
- How much it costs. $14 for every $100 borrowed
- Pros. Easy to qualify, no need for collateral
- Cons. Extremely high fees, small amounts, short terms
How much do bad credit loans in New Brunswick cost?
The total cost of bad credit loans in New Brunswick will vary based on features such as your loan type, amount, term and interest rates/fees. Below is a hypothetical example of how much a $1,000 loan might cost a borrower.
Payday loans | Installment loans | Secured loans | |
---|---|---|---|
Loan amount | $1,000 | $1,000 | $1,000 |
Loan term | 14 days | 6 months | 6 months |
Interest rate or fees | $14 per every $100 borrowed | 35% | 18% |
Monthly payment | Total amount paid on payday | $184.09 | $53.15 |
Total interest/fees | $140 | $104.53 | $53.15 |
Total loan cost | $1,140 | $1,104.53 | $1,053.15 |
Total APR | 365% | 35% | 18% |
The payday loan has the highest APR out of all three loan options. This makes payday loans the most expensive of all bad credit loans in New Brunswick. Secured loans will usually be the cheapest.
How to apply for bad credit loans in New Brunswick
Follow the steps below to apply for bad credit loans:
Loan type | Steps to apply |
---|---|
Payday loans |
Related: Payday loans in New Brunswick
|
Unsecured loan |
|
Secured loan |
|
Eligibility requirements of bad credit personal loans
While requirements will vary from lender to lender, you will usually need to meet the following to apply for bad credit loans in New Brunswick:
- Be a Canadian citizen or resident who is at least 19 years old.
- Have a valid Canadian address and bank account.
- Meet minimum income and employment requirements.
- Meet minimum credit score requirements (as needed).
Can I get a bad credit loan with low income?
It depends on what type of loan you get and how low your income is. You’ll be more likely to qualify for smaller loans with low income (such as payday loans). It might also be easier to qualify with low income if you secure your loan with an asset or get a cosigner. Just be aware that you might pay more in interest/fees if you have a lower income.
Is it possible to get guaranteed approval for bad credit?
Some lenders might advertise guaranteed approval, but you should approach these lenders with caution. They could be fraudulent, or they may charge extremely high or predatory interest rates.
Legitimate lenders will review your finances first by looking at information such as pay stubs, bank statements and your credit report. Most will deny you if you make no income, have an extremely high debt load or are in the middle of a consumer proposal/bankruptcy.
How to get the best bad credit loans in New Brunswick
Compare the following features to find the right loan for you:
- Cost. Search for the lowest interest rates, and aim for under 25% APR if possible. Avoid payday loans and watch out for fees. These include early repayment fees, NSF fees, late payment fees and set-up/origination fees.
- Amount you can borrow. The highest amount you can usually qualify for with bad credit loans is $10,000. Payday loans max out at $1,500.
- Length of repayments. Terms range from 3 - 60 months for personal loans. You’ll have to repay your loan by your next paycheque with a payday loan. Look for the shortest term with monthly payments you can afford to cut down on interest.
- Turnaround time. The majority of bad credit loans are paid out in under 48 hours, though secured loans will take longer. Learn more about emergency loans if you need an immediate turnaround.
- Reputation. Do your homework to make sure you find a legitimate lender. Read customer reviews and check sites like the Better Business Bureau and Trustpilot to make sure your lender has a good reputation.
- Rebuilds credit. Ask your lender if your loan payments will be reported to the credit bureaus to increase your score. Keep in mind that payday loans don’t offer this option.
How can I improve my chances of getting approved?
You can improve your chances of getting approved by following these tips:
- Sign up for a secured or guarantor loan. Secure your loan with collateral or get a friend or family member with good credit to cosign a loan with you.
- Review your application. Double check for errors on your application, as they could result in an automatic denial.
- Work on your credit score. Take measures to improve your credit, including decreasing your credit utilization ratio and fixing errors on your credit report.
Other options available for people struggling with bad credit
Consider these options before you take out high-interest bad credit loans in New Brunswick.
- Government subsidies. You could qualify for provincial funding through income assistance, affordable housing or disability support programs.
- Credit counselling. Credit counselling can help you create a budget and develop a plan to pay off your debt. This can improve your credit score over time.
- Debt relief services. If you’re finding yourself in a vicious cycle of debt, a debt relief company may be an option.
Frequently asked questions
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