Fast, Easy Loans in Canada

Easy loans in Canada come with lenient requirements, fast approval and quick funding. The catch? You may pay high interest. Check out online options for getting an easy loan in Canada.

Compare loans with easy criteria and quick funding

Lender	Cost	Loan amount	Loan term
Cash Advance	0% + monthly fee from $2	$20 – $500	Flexible	Go to site
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Personal Loan	9.99% - 34.95%	$500 - $35,000	6 - 84 months	Go to site
Personal Loan	8.99% - 35.00%	$500 – $50,000	3 - 120 months	Go to site
Personal Loan	9.99% - 35.00%	$500 – $50,000	3 - 60 months	Go to site
Credit Line	0%	$30 – $250	31 days, extendable	Go to site
Early Pay	0%	$20 - $750	Next pay cycle (90 days max)	Go to site

Compare payday loans with lenient criteria and instant funding

Payday loans are convenient for emergencies, but their very high costs may impact borrowers in the long run. If you have already explored alternatives and have decided a payday loan suits your situation, make sure the lender you choose is licensed.

Licensed payday lender	Interest rate	Loan amount	Loan term
Payday Loan	$14 per $100 borrowed	$100 - $1,500	Up to 62 days	Go to site
Payday Loan	$14 per $100 borrowed	$100 – $1,500	7 – 62 days	Go to site

Need more options? We’ve searched the marketplace to find additional relevant lenders.

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The speed of easy loans

Loan type	Speed
Installment loans	24-48 hours
Payday loans	As little as 30 minutes
Cash advances	As little as 30 minutes
Line of credit	24-48 hours
Vehicle title loans	24-48 hours
Secured credit cards	4-10 business days

Features of installment loans with flexible approval & funding

• Amount: Usually up to $10,000.
• Suitable for: People who need small to moderate loan amounts, especially if they can’t get approved by financial institutions.
• Why they’re easy loans in Canada: This quick loan is designed for people who don’t qualify for bank or credit union loans. Minimum credit score and income qualifications are lower, and you don’t need to provide collateral.
• Risks: High interest rates and long loan terms can add up.
• Speed: 24–48 hours.
• Bad credit loans available: Yes.
• Online loan: Yes, the process is completely online.

Examples of installment loans

• Spring Financial. A customer service rep will call right after you submit your application. Spring can also e-transfer money, which is faster than direct deposit.
• Loans Canada. Apply once to get matched with multiple lenders that can meet your needs. This prevents you from wasting time applying to lenders that can’t approve you.

Related: Same-day loans in Canada

Payday loans: Get instant approval & funding 24/7

Unlike installment loans, payday loans provide approval and funding within minutes and have easier eligibility criteria. Even though they’re one of the fastest and easiest ways to get cash, they’re only suitable as a last resort because of their cost. These loans cost $14 for every $100 borrowed and usually need to be repaid by your next payday.

Features of easy payday loans

• Amount: Up to $1,500.
• Suitable for: People who need money ASAP, day or night, and they’ve exhausted all other options.
• Why they’re easy loans in Canada: Payday loans are easier to qualify for than installment loans, even if you have bad credit or past bankruptcies, since lenders prioritize stable income. You might also qualify with non-employment income like government benefits.
• Risks: Incredibly high interest rates and short terms. Before you apply, make sure you’ll have enough income left for other debts or expenses once you repay your payday loan. Otherwise, you may find yourself needing another loan to cover the shortage.
• Speed: As little as 30 minutes. Instant approval loans in Canada are available.
• Bad credit loans available: Yes.
• Online loan: Yes (in-store funding also available).

Examples of instant payday loans

• iCash. Bad credit is okay, non-employment income is okay, and you can get instant approval and funding 24/7.
• Loan Express. They don’t do credit checks, and they offer 24/7 approval and funding.

Dive deeper: Best instant loans

Cash advances are a legitimate instant alternative to payday loans

Payday loans are not your only option if you need an easy loan within minutes. Cash advances are small, short-term loans with more flexible repayment schedules than payday loans. You pay no interest on these loans, but you may pay a monthly fee.

Features of easy cash advance apps

• Amount: Usually up to $750. However, the lender may start you off with a small amount only.
• Suitable for: People who need a small, quick loan and flexible repayments.
• Why they’re easy loans in Canada: Non-traditional income is accepted. Often, no credit check is required. Mobile and web apps are available for flexible approval and funding.
• Risks: Rolling over your loan can get costly. Extra fees apply if you want instant funding.
• Speed: As little as 30 minutes. Instant approval and funding are available.
• Bad credit loans available: Yes, since these loans do not require credit checks.
• Online loan: Yes.

Examples of easy cash advance apps

Cash advance apps with flexible criteria and fast funding include KOHO, Nyble and Bree. All three offer 24/7 instant funding and don’t do credit checks.

If you have no salary, KOHO doesn’t have any job or income requirements.

Lines of credit: If you need flexible funding and easy repayments

A line of credit lets you withdraw whatever amount you need up to an approved limit, and you only pay interest on what you borrow. Easy lines of credit are only available from online lenders. Banks and credit unions have strict eligibility requirements. Here are their key features:

• Amount: Up to $10,000 for online lines of credit.
• Suitable for: People who need ongoing access to funds, especially if they’re financially disciplined and can repay balances quickly.
• Why they’re easy loans in Canada: Online lenders may accept fair or bad credit if you also have an adequate, stable income.
• Risks: Overspending and accumulating high interest if you hold off on repayment.
• Speed: 24–48 hours.
• Bad credit loans available: Yes (depending on the lender).
• Online loan: Yes.

Examples of easy lines of credit

Lines of credit are the hardest loans to get from this list. But if your financial situation is on the stronger side, easy online lines of credit include the MogoMini and Fora.

Related: Lines of credit for low credit in Canada

Own a car and need higher amounts? Check out car title loans

If your car is completely paid off, you can use it as collateral to get a loan. You can keep driving your vehicle, but it will be repossessed and sold if you fail to make repayments.

• Amount: 25% to 50% of your car’s value, usually up to $50,000.
• Suitable for: Borrowers willing to use their car as collateral.
• Why they’re easy loans in Canada: Providing collateral lowers the risk for lenders, making it possible to qualify for lower rates than you’d get with unsecured loans. No credit check loans are available, but make sure the lender is legitimate.
• Risks: Steep interest rates, loan fees and possibly losing your vehicle (if you default).
• Speed: 24–48 hours.
• Bad credit loans available: Yes.
• Online loan: It depends. Some lenders require in-person vehicle inspections.

Examples of car title loans

Examples include Prudent Financial, Fast Action Finance and Get Loan Approved. Lenders of this loan have very similar requirements, and many process applications in one to two business days. Approval is based on your car. If your car is less than 10 years old, in good condition, insured and fully paid off, you have a realistic chance of getting approved.

Related: Vehicle title loans

Secured credit cards offer convenience

A secured credit card offers the same convenience as regular credit cards, except you need to provide a cash deposit as collateral to help boost your odds of approval. If you stop making payments, the card provider can keep the deposit.

• Amount: Up to $10,000 (depends on your deposit).
• Suitable for: Those who can afford at least several hundred dollars for a deposit.
• Why they’re easy loans in Canada: Bad credit and no credit history are acceptable.
• Risks: If you stop making payments, you’ll lose your deposit.
• Speed: 4–10 business days.
• Bad credit loans available: Yes.
• Online loan: You can apply online, but the process isn’t completely online. Once you’re approved, a physical card will be mailed to you.

Examples of secured credit cards

Secured credit cards require a cash deposit, which makes them generally easy to get no matter where you apply. Popular options include the Neo Secured Credit Card, Capital One Secured Mastercard and HomeTrust Secured Visa Card.

Related: Secured credit cards guide

What is the easiest bank to get a loan from in Canada?

We found that it’s easy to apply online for a bank loan from CIBC, BMO and National Bank. You can get competitive rates from traditional banks, but you need a strong financial profile to easily qualify. If your credit score isn’t good, check out top installment loans from alternative lenders.

Dive deeper: Easiest bank to get a loan in Canada

Am I eligible for easy loans in Canada?

Easy loans in Canada come with non-strict approval criteria and fast turnaround. To get an easy loan, you must:

• Be the age of majority in your province or territory (18 or 19)
• Be a Canadian resident
• Have a stable income
• Have a Canadian bank account

To get a vehicle title loan, your car must be entirely paid off and can’t be older than a certain year (varies based on the lender).

How to apply for easy online loans in Canada

Applying for online loans in Canada is easy. The exact steps vary between loan providers, but here’s how it generally works:

1. Fill out an online application. Provide personal details like your name, address, contact information and employment details.
2. Get a decision. The lender will let you know if you qualify for funding.
3. Verify your identity. Submit proof of your identity, Canadian residency and income. Upload documents to the lender’s website or complete instant bank verification.
4. Receive an offer. Review your contract and sign when you’re ready.
5. Get funds. Your loan will be deposited into your bank account by direct deposit or e-transfer, usually within 24-48 hours. Some lenders offer same-day funding.

Tips for getting quick loans in Canada

If you need money quickly, follow these tips to apply for easy online loans and get funding fast.

• Check the lender’s requirements. Check that you meet loan eligibility requirements before applying to avoid wasting time and effort.
• Choose instant bank verification. Verify your information by logging into online banking. This lets your lender save time by not having to manually review your documents.
• Apply in the morning. This increases your chance of getting same-day approval and funding.
• Prepare your documents. Documents commonly required for quick, easy loans in Canada are government-issued ID, recent bank statements and recent pay stubs (or tax Notices of Assessment).
• Register for autodeposit. If you’re receiving funds by e-transfer, set up autodeposit with your bank to minimize delays.

Dive deeper: Emergency loans in Canada

Avoid applying for easy loans in Canada if…

• You don’t need funds urgently. High-cost, easy loans should be a last resort. If you aren’t facing a financial emergency, improve your credit score to get approved for a traditional personal loan with better rates and terms.
• You can’t afford more debt repayments. If your budget is already stretched thin, don’t further strain your finances and credit report by taking on more debt than you can repay.
• There are other options available. Can you take on a side job, borrow from friends or family, get credit counselling or receive non-profit help with food or rent? Consider negotiating for lower rates and easier repayment terms with creditors.

How to compare easy online loans in Canada

• APR. The interest rate only reflects how much interest you’ll pay on the loan, but the annual percentage rate (APR) reflects all costs, including interest and other fees.
• Loan term. Spreading out repayment over a long time period could lower your payment amount, but it’ll raise your interest cost. Short loan terms could result in higher payment amounts, but you pay less interest overall.
• Extra fees. Pay close attention to additional fees that can drive up the cost of your loan, like origination fees (to set up your loan), broker or surety fees that get added to your payments and non-sufficient funds (NSF) fees for bounced payments.
• Speed. How quickly can lenders approve and fund a loan? Interac e-Transfers are often the fastest method of receiving funds. Payday loan providers like iCash, GoDay, Mr. Payday, Cash 4 You and Loan Express offer quick loans in 5-60 minutes.
• Reputation and legitimacy. Make sure your lender is licensed in Canada. Look for signs of legitimate business operations like having a physical address and customer service contact information. Read customer reviews on sites like Trustpilot and the Better Business Bureau (BBB).
• Optional services. Lenders might offer you credit score monitoring services or loan insurance to cover payments if you lose your job or become ill. These are completely optional services and will cost extra if you choose to sign up.

Compare more easy loans

If you want to explore your options for flexible approval and fast funding, we searched thoroughly for what’s available in Canada and organized them in the tables below.

• Personal loans
• Cash advance apps
• Lines of credit
• Secured credit cards
• Car title loans
• Payday loans

Frequently asked questions

• Is it easy to get a loan in Canada?

  It depends on your credit score, income and debt and other factors. People with good to excellent credit have access to various lenders, including Canada's major banks and credit unions. Bad credit borrowers are more limited but might qualify for installment loans, car title loans and payday loans.

• What are the basic requirements of easy loans in Canada?

  To apply for easy loans in Canada, you must meet these basic requirements:

  • Be the age of majority in your province or territory (18 or 19)
  • Be a Canadian resident
  • Have recurring income
  • Have a Canadian bank account

• What are the easiest loans to get?

  The easiest loans to get include payday loans (no credit check required), car title loans (which allow you to get approved by using your car as collateral), pay advance apps (only available in small amounts) and secured credit cards (which require a deposit).

• What is the easiest quick loan to get?

  The easiest quick loans to get are payday loans, such as iCash and Loan Express, and cash advance apps, such as KOHO and Nyble. You can get them even with bad credit.