Green Loans is an online broker that offers access to short-term installment loans. There are no credit checks required, and you can apply, get approved and get funded within 24 hours. Loan amounts range from $100 to $1,000, and you have 3 - 12 months to repay what you borrow.
Bad credit is OK
Fast access to funds
Easy online application
Rates up to 35%
Brokerage fee applies
Self-employed workers not eligible
Requires minimum monthly income of $1,200
$1,000 loan amount may not be enough
Loan Amount
$100 – $1,000
APR Range
22% – 35%
Loan Term
3 - 12 months
Serviced Provinces/Territories
all provinces except Manitoba
Turnaround Time
within 24 hours
Min. Credit Score
300
Fees
2.66% late fee
Requirements
• Share banking access via our secure IBV system (Instant Banking Verification) • 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 older (or provincial age of majority) • Earn at least $1,200 monthly in net income • 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.
Loans Canada is an online loan search platform where you can compare loans from the largest network of lenders in Canada. It's easy to compare loan offers by filling out a single online application, and there are loan options available for borrowers with all types of credit. Best of all, the Loans Canada platform is free to use.
Loans for good and bad credit
Compare loans from multiple lenders
APRs starting at 8.99%
Get funded in one to three business days
High rates for bad credit
Not a direct lender
Limited to Loans Canada's lender network
Loan Amount
$500 – $50,000
APR Range
8.99% – 35%
Loan Term
4 - 60 months
Serviced Provinces/Territories
All of Canada
Turnaround Time
Receive funds in as little as 24 hours.
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Requirements
Canadian resident, age of majority in your province of residence
LoanConnect is an online loan search platform where you can compare personal loans from a large network of lenders. Loans of up to $60,000 are available with terms ranging from 3 to 120 months depending on the lender. You'll typically get funded within 24 to 48 hours of applying.
Compare loans from multiple lenders
Loans for good or bad credit
Easy online comparison process
Compare your options without impacting your credit score
Not a direct lender
High rates if you have bad credit
Limited to LoanConnect's lender network
Loan Amount
$500 – $60,000
APR Range
8.99% – 35%
Loan Term
3 - 120 months
Serviced Provinces/Territories
All provinces
Turnaround Time
Receive funds in as little as 24 hours.
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Requirements
Canadian citizen or permanent resident, age of majority in your province of residence, current debts must total less than 60% of your income
MDG Financial provides cash installment loans of up to $1,600. You can pre-qualify online without impacting your credit score. Once you're approved for a loan, the money will be deposited into your bank account within three hours.
Nyble provides access to an interest-free line of credit ranging from $30 to $250. Repay your loan by the next month, but if you're not ready, you can extend your due date.
Get funds within 30 minutes
Build your credit history
No interest or late fees
Easy application process
Rewards program
Option to extend your payment deadline
May take up to 3 business days to get funds if you're not a member
Monthly membership fee
Lloan amount may not be enough
Costs
0%
Loan Amount
$30 – $250
Loan Term
31 days, extendable
Credit Check
No
Turnaround Time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Requirements
You must be 18 years or older and have a minimum monthly income of $1,000.
KOHO Cover provides an interest-free cash advance of up to $250. You don't need to complete a credit check to apply, and the money will be in your bank account straight away. You can repay what you borrow at any time, but note that this cash advance comes with a monthly fee.
No credit check
Instant access to funds
No interest
You don't need an income to qualify
Monthly KOHO Cover subscription fee starting at $2
You may also have to pay a monthly fee for your KOHO plan
$250 may not be enough
Won't improve your credit score
Costs
0% + monthly fee from $2
Loan Amount
$20 – $250
Loan Term
Flexible
Credit Check
No
Turnaround Time
Immediately
Requirements
KOHO account—access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
Bree offers quick cash advances of up to $500 to help you avoid bank NSF fees. There's no interest charged on what you borrow, and it's quick and easy to apply online. However, you'll need to pay an extra fee if you want fast access to your money.
Easy to apply
No credit checks required
No interest charges
$2.99 optional monthly membership fee for express funding
Small loan amount may not suit your needs
Costs
0%
Loan Amount
$20 – $500
Loan Term
Next pay cycle (90 days max)
Credit Check
No
Turnaround Time
Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and within 1 to 3 business days for standard delivery.
Requirements
You must have a bank account with regular income deposits and a Visa or Mastercard debit card with a CVV
High-cost payday loans are unsustainable for long-term borrowing, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, consider calling Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.
iCash is a 24/7 payday lender that provides fast cash loans of up to $1,500. It's simple to apply, approvals are automated and instant and funds are sent to your account via e-transfer in as little as two minutes.
Get funded within an hour
Loans approved 24/7
Apply online or via mobile app
4.6/5 stars based on 2,400+ reviews on Trustpilot
Very expensive
Short repayment term
Loan Amount
$100 – $1,500
Loan Term
7 - 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
Yes
Requirements
- At least 18 years old (for applicants in Alberta, Manitoba, Ontario and PEI) - At least 19 years old (for applicants in British Columbia, New Brunswick and Nova Scotia) - Canadian resident in a province that iCASH services - Valid cell phone number, address and email address - Net income of at least $800/month deposited into bank account - Receiving the same source of income for the past 3 months - Have a Canadian bank account that's been open for at least 3 months with online banking
If you want a payday loan with an instant decision: GoDay
GoDay is an online payday lender that offers fast payday loans of up to $1,500. You can apply online in about five minutes, and GoDay's automated approval system will process your application instantly. Funds are deposited in your account within one hour of being approved.
Many types of income accepted
Get funded within an hour
Easy to apply
Instant decisions 24/7
High cost of borrowing
Short repayment terms
$1,500 may not be enough
Loan Amount
$100 – $1,500
Loan Term
Up to 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI, SK
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
Yes
Requirements
- Canadian resident over the age of 18 - Valid email address and phone number - Have an open bank account with a Canadian bank or credit union
Here are the highlights of how Lamina stacks up against the competition:
Pros
Get funded within an hour of being approved
No credit checks
Easy online application process
Online bank verification
Cons
Brokerage fees of $15 to $56 per $100 borrowed
Very high APRs of up to 275%
Short loan terms of 3-7 months
Maximum loan amount of $1,000 may not be enough for some borrowers
Features of installment loans like Lamina
Providers like Lamina offer fast access to cash in a financial emergency. Here are some of the common features you can expect from online installment loan providers like Lamina:
Fast turnaround time. It generally takes 24-48 hours to get approved and funded for an installment loan, while it’s possible to get same-day funding from some lenders. Learn more about emergency loans.
Short loan terms. Loans commonly have repayment periods ranging from three to six months.
Use the money for any purpose. You can use the funds from an installment loan for any legitimate purpose.
Easy online application. Most lenders offer a completely online application process, including online ID and income verification. If you’re approved, funds are distributed by e-transfer or direct deposit.
Bad credit is OK. Online installment loan lenders tend to have quite lenient eligibility criteria and are willing to work with borrowers who have bad credit. Rather than conducting credit checks, they often focus on your income to assess your ability to repay a loan. Learn more about bad credit loans.
Unsecured. Online installment loans are unsecured, so you don’t need to provide an asset as collateral.
What do I need to watch out for with installment loans like Lamina?
Be aware of the following risks when applying for an installment loan:
Brokerage fees. Many providers charge brokerage fees to cover the cost of setting up your loan. These fees can run up to a few-hundred dollars and may significantly increase the cost of borrowing.
High APRs. The lenient eligibility criteria of online installment loans come at a cost. These loans have high APRs and are very expensive to repay. For example, Lamina loan APRs range from 120% to 275%.
Scams. While there are many legitimate lenders, you also need to watch out for scammers. Do your research to make sure you’re dealing with a legit lender, and know how to recognize the signs of a personal loan scam.
What are the requirements of loans like Lamina?
The exact eligibility requirements you’ll need to meet vary between lenders, but you will generally need to:
Be a Canadian citizen or permanent resident
Be the age of majority in your province or territory
Receive a minimum monthly income, typically $1,200
Have a valid Canadian bank account with little to no NSF transactions
You can apply online by providing:
Your name, date of birth and SIN
Your phone number, email address and residential address
Your desired loan amount
Proof of ID
Proof of income
Your bank account details
How does Lamina work?
You can borrow $300 – $2,500 with a Lamina loan, which is very similar to a payday loan. Unlike payday loans though, you can repay a Lamina loan over 90-210 days. Repaying in installments rather than one lump sum gives your finances some breathing room. But keep in mind that Lamina has extremely high APRs between 120% and 275%.
Is Lamina legit?
Lamina provides its contact details on its website, including its office address, phone number and email. It also includes its terms and conditions as well as its privacy policy, and it has a verified Trustpilot profile.
Unlike other brokers of short-term installment loans we’ve seen in Canada, Lamina is up front about its very high APRs on its homepage.
Summary of Lamina loans reviews
Site
Details
Trustpilot
4.7/5 stars based on 302 Lamina reviews
BBB accreditation
No
BBB rating
N/A
BBB reviews
N/A
Reviews as of January 23, 2025
What do Lamina.ca reviews say?
People praise Lamina for its quick and easy application as well as its helpful customer service team. Negative reviews about Lamina focus on not getting approved for a loan.
Bottom line
If you’re looking for loans like Lamina in Canada, there are plenty of options to consider. Just make sure you’re aware of the full cost of borrowing before you apply, and compare a range of lenders before deciding the right option for you.
You need to be at least 18 years of age and earn a steady income to qualify for a Lamina loan. However, meeting these basic criteria won't necessarily mean you can get a loan, as Lamina will need to assess your personal financial situation.
Yes. Lamina offers no credit check loans, so bad credit won't stop you from getting funded. Lamina will instead consider your income and employment when determining whether you can afford a loan.
Lamina says its loans come with an average interest rate of 18%. However, a guarantor fee ranging from $15 to $56 per $100 borrowed also applies, resulting in an APR ranging from 120% to 275%.
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:
Here’s how to get a $500 loan to see you through until your next payday.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
