Green Loans Review: Is It Legit?
- APR Range
- 22.00% - 35.00% + broker fee
- Loan Amount
- $300 - $1,000
- Loan Term
- 3 - 12 months
- Min. Credit Score
- 300
Our verdict
Green Loans connects you with lenders offering personal loans of up to $1,000 with no credit check.
Green Loans is a loan broker that connects borrowers with its network of lenders, offering personal loans of up to $1,000. The application is fully online, and in our review, the process seems simple and quick. Green Loans also accepts a variety of income sources, such as government disability, private disability, private pension, CPP, OAS, welfare, CCB and workers' compensation. Borrowers can take up to 12 months to repay the loan, which we found is longer than what some similar providers offer.
However, Green Loans has its downsides. Loan amounts are small, interest rates are high compared to traditional lenders, and it's unclear about its broker fees. Before signing, ensure you're aware of how much this loan will cost you overall.
Pros
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Fast application and approval process
-
No credit checks
-
Flexible repayment terms
Cons
-
Higher interest rates than traditional lenders
-
Unclear broker fees
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Small loan amounts
Is Green Loans legit?
Yes, Green Loans is legit. The company has a physical address in Montreal, a phone number and a contact form. It also has a privacy policy and terms that state it complies with Canadian privacy laws.
We also found that GreenLoans.ca is registered with the Registraire des entreprises (REQ) in Quebec. However, the platform has no external reviews.
What we like about Green Loans
- Quick, convenient application process. We like that the application is entirely online and uses instant bank verification. This allows applicants to connect their bank accounts through an encrypted portal without requiring them to submit paperwork.
- Instant approvals. Get approval within minutes thanks to instant bank verification.
- Fast funding. Get your money on the same day or within 24 hours.
- Low starting amounts. You can borrow as little as $300, which is low for an installment loan.
- Flexible loan terms. Repay in as little as 3 months, or take up to 12 months.
- Easy payouts. Get your money via direct deposit or e-Transfer.
- Customer support: Green Loans offers customer support Monday to Friday, 8 am to 6 pm ET, via email and phone.
- Bad credit accepted. Green Loans doesn’t require credit checks, so borrowers with bad credit can still apply.
- Non-employment income accepted. Green Loans accepts a wide variety of income types, such as government disability, private disability, private pension, CPP, OAS, welfare, CCB and workers' compensation.
- No collateral required. This loan is unsecured, so no assets are needed for approval.
- No prepayment penalties. There are no penalties for paying off loans early. However, we’ve found that this is a standard feature for unsecured loans in Canada from any lender.
- Available in most provinces. Green Loans is available in all provinces except Manitoba and Alberta.
- Applications accepted 24/7. Apply anytime, day or night, through Green Loans’ fully online application process.
What to watch out for
- Not a lender. Green Loans isn’t a lender but a broker, so borrowers are only matched with lenders in its network. We recommend comparing offers elsewhere, too, to find the best rates and make an informed decision.
- Small loan amounts: Loan amounts max out at $1,000, so those who need more than that will have to go elsewhere.
- Unclear fees. One of our main concerns is fee transparency. Green Loans is vague about its broker fees on its website and doesn’t disclose how much it charges, and these fees can significantly drive up the cost of a loan.
- High interest rates. Green Loans offers higher rates than traditional loans, from 22% to 35%.
Alternatives to Green Loans
What are Green Loans’ interest rates?
Green Loans offers fixed interest rates ranging from 22% to 35%. The exact rate you’ll receive depends on the lender you’re matched with, as well as personal factors like your salary, debt-to-income ratio and spending activity.
Green Loans also charges a broker fee that may be in the hundreds. We strongly recommend reviewing your loan contract, so you’re aware of all the charges before signing.
Summary of reviews for Green Loans
| Trustpilot reviews | 3.2/5 based on 1 review |
| BBB reviews | N/A |
| BBB rating | N/A |
| BBB accreditation | Not accredited |
As of February 27, 2026.
What do Green Loans reviews say?
We found that Green Loans doesn’t have any reviews on platforms like Google or the Better Business Bureau and only 1 review on Trustpilot, but it does have a trust score of 100/100 on ScamAdviser. A score between 81 and 100 means a website is very likely safe.
Do you qualify?
You may qualify for financing from Green Loans if you meet the following requirements:
- Earn at least $1,200 net income per month
- Share banking access via Green Loans’ secure instant banking verification system
- Have a Canadian bank account open for 90+ days with online access
- Be a Canadian citizen or permanent resident with a job
- Be 18 or 19, depending on the age of majority in your province
- Provide a valid phone number, email, and home address
- You must not be in a bankruptcy or a consumer proposal
- You must not be planning to declare bankruptcy or a consumer proposal
How do you apply?
Here’s how we found the Green Loans application process works:
- Head to greenloans.ca and click Get Started.
- Select the loan amount you want and enter personal details like your name, phone number, email address and birthday.
- Enter your address and whether you rent or own.
- Choose whether to confirm your identity now with your SIN and driver’s licence number or skip this step until later.
- Input financial information such as your income source and total monthly income.
- Enter your employment information, like company name and job title.
- Provide the account information for the deposit.
- Submit your application and wait for an email or text with the next steps.
Green Loans application preview
We tested the Green Loans online application, and it took less than 10 minutes to complete. Here’s what the application process looks like:
Step 1
Select the loan amount you want and enter your name, contact details and province of residence.
Step 2
Enter your address and select whether you rent or own.
Step 3
Confirm your identity by entering your SIN and driver’s licence or skip this step until later.
Step 4
Select your income source, how you want to be paid and enter details about your income.
Step 5
Enter your employer name, job title, work phone number and how many years you’ve been with your employer.
Step 6
Provide the account information for the deposit and select Submit for my loan.
What to expect once you’ve received your loan funds
If you’re approved for a loan, you’ll typically receive your funds within 24 hours via Interac e-Transfer or an electronic funds transfer (EFT).
Payments will be automatically withdrawn from your bank account on the scheduled date, which you can find by logging in to your customer portal.
You can also use the customer portal to make early payments or pay off your loan completely with a debit card or e-Transfer. If you miss payments, you’ll be charged a 2.66% late fee and a $40 NSF fee. The NSF fee is in addition to the NSF fee your bank charges.
Bottom line
In our opinion, Green Loans may be a good option if you need a small loan quickly and have limited or poor credit. We like the simple online application, fast funding and flexible income requirements.
However, we’re cautious about the high interest rates and lack of upfront fee transparency. Because it’s a broker, we also recommend comparing direct lenders before committing.
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