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15 no credit check loans in Canada

Got bad credit? Find legitimate no credit check loans in Canada that you can apply for online.

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Nyble Credit Line

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  • Access up to $150 to build credit
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  • No interest or required fees
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Your bad credit history doesn’t have to stop you from getting a loan. From online personal loan lenders to payday lenders, credit card cash advances and more, there are several no credit check loans available. However, they all come with higher interest rates.

Keep reading to find out about no credit check loan options you can choose from, how they work and how much they cost.

Compare no credit check loans in Canada

Loan providerInterest rateLoan amountLoan termKey features
LoanConnect

Personal Loan

8.99% - 46.96%$500 – $2,5009 - 36 monthsInstant pre-approval, bad credit is okayGo to siteLearn more
Loans Canada

Personal Loan

8.00% - 46.96%$500 – $50,0004 - 60 monthsInstant pre-approval, bad credit is okayGo to siteLearn more

Get Loan Approved

Car Title Loan

9.95% - 29.00%$1,000 – $50,00012 - 72 monthsVehicle title loans, no credit check, your vehicle must be 10 years old or newer and be paid off to use as collateralLearn more

Title Loans Online

Car Title Loan

14% - 49%$3,000 – $25,00024 - 60 monthsVehicle title loans, no credit checkLearn more
Fast Action Finance

Car Title Loan

N/AUp to $25,000Not availableVehicle title loans, no credit checkLearn more

24Cash

Installment Loan

19.99% - 46.80%$1,500 – $20,00012 - 60 monthsFunding in 24 hours, no credit checkLearn more

Credito

Installment Loan

23% + broker fee$1,500 – $20,00012 - 60 monthsFunding in 24 hours, no credit checkLearn more

Vancity

Fair & Fast Loan

19.00%$100 – $2,5002 weeks - 24 monthsEligibility based on income, no credit check, same day loanLearn more

Compare no credit check cash advances

Another option to consider is a cash advance. You pay no interest on these cash loans, but you may pay either an optional or required monthly fee depending on the provider.

Loan providerInterest rateLoan amountLoan termKey features
Nyble

Small Credit Line

No interest or fees to access credit line, optional $11.99/month membership to get premium services such as instant funding$30 – $15030 days, extendableInstant approval and funding available with a monthly feeGo to siteLearn more

KOHO

Cash Advance

0%, subscription fee starting at $2/month$20 – $250FlexibleInstant approval and funding available with a required monthly feeGo to siteLearn more

Bree

Early Pay

No interest or fees to access cash advance, fee for express funding (varies based on advance)$20 – $350Next pay cycle (61 days max.)Instant approval and funding available for a feeGo to siteLearn more
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. If you're experiencing financial hardship call 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.

Compare no credit check payday loans

A no credit check loan that’s readily available is a payday loan. They’re extremely expensive though, so they’re only suitable as a last resort.

Loan providerInterest rateLoan amountLoan termKey features

iCash

Payday Loan

Varies by province$300 – $1,500Up to 62 daysCredit check required but has flexible criteria, offers instant approval and funding 24/7Go to site
PAY2DAY

Payday Loan

Varies by province$300 – $1,500Up to 62 daysInstant loans 24/7, no credit checkLearn more
Loan Express

Payday Loan

Varies by province$100 – $1,500Up to 62 daysInstant loans 24/7, no credit checkLearn more

My Canada Payday

Payday Loan

Varies by province$100 – $1,500Up to 62 daysInstant loans 24/7, no credit checkLearn more
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province Max. cost of borrowing a $100 payday loan Cooling off period to cancel loan Max. penalty for returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours excluding Sundays and holidays $20
New Brunswick $15 48 hours excluding Sundays and holidays $20
Newfoundland and Labrador $14 2 business days $20
Nova Scotia $15 Next business day (2 days for online loans) $40 (default penalty)
Ontario $15 2 business days $25
Prince Edward Island $15 2 business days N/A
Quebec Limit of 35% AIR N/A N/A
Saskatchewan $17 Next business day $25

Can you get a no credit check loan in Canada?

Yes, you can. Many online and storefront lenders offer no credit check loans in Canada – but be careful as scammers and sketchy lenders sometimes use the “no credit check” tagline to lure borrowers who are in desperate financial situations. They may also claim to guarantee approval on your loan. Scammers will steal your money, while sketchy lenders sell your personal information or convince you to take out a high-cost loan you can’t afford. Do your research to find a reputable lender with loan payments you can manage before signing any documentation.

To qualify for a no credit check loan, you’ll need to have a steady source of income. Ideally, you should have a debt-to-income (DTI) ratio of less than 40%, but some lenders are more lenient with this.

Find out the APR of the no credit check loan

As you search for the best no credit check loans in Canada, be sure to find out their annual percentage rates (APR). APR is the interest rate plus all the fees you must pay to get the loan, such as broker, appraisal and title search fees.
Some lenders might only promote the interest rate to make the no credit check loan seem less expensive. This is why looking at the APR is key – it gives you a more complete view of the loan’s cost and allows you to better compare different loans.

Types of no credit check loans you can get

Navigate to a type of no credit check loan to learn about how it works, benefits, risks and more.

Common features of loans with no credit check in Canada

Loans with no credit check share these features:

  • Bad credit is okay. Since there’s no credit check involved, it’s possible to get fast or instant approval even with poor credit.
  • Very expensive. Since lenders take on more risk by not checking credit scores, they charge higher rates.
  • Small loan amounts. Since no credit check loans are riskier, lenders are not likely to approve high loan amounts.

What are the risks of no credit check loans?

There are a few key risks you should be aware of before applying for any no credit check loan in Canada:

  • High rates and fees. No credit check loans come with much higher interest rates than regular loans, which can greatly increase the cost of borrowing. Administration, NSF, late payment fees and other charges may apply, so read the fine print thoroughly.
  • Short loan terms. Payday loans and other no credit check loans have short repayment terms. If you fail to pay off your loan by the due date, you can incur further fees and interest charges that could trap you in a cycle of debt.
  • Sketchy lenders and scams. Illegitimate lenders sometimes use the phrase “no credit checks” to prey on people experiencing severe financial difficulties. Do your research to make sure you only ever deal with reputable lenders. Check out our guides to personal loan scams and payday loan scams for more information.
  • You may have to put collateral at risk. Some lenders require borrowers with bad or no credit to provide an asset as collateral before approving a no credit check loan. Whether you offer your car title, jewellery or something else, you run the risk of losing that asset if you can’t afford to repay the loan.

Option 1: No credit check personal loans

  • How it works: A no credit check installment loan from an online lender allows you to pay the loan back over a period that ranges from 3 - 60 months. Payments are usually bi-weekly or monthly. These loans have more lenient eligibility criteria than regular personal loans, but come with higher interest rates and lower loan amounts.
  • How much you can borrow: You can typically borrow less than $2,000 with no credit check installment loans.
  • How much it costs: Pay around 30% interest rate, plus a surety or broker fee of up to $300.

Who are no credit check installment loans best for?

  • Apply for no credit check installment loans if you have bad credit or no credit history, you earn a steady income and you need an emergency loan.
  • Avoid no credit check installment loans if you don’t need emergency cash or if you’re not sure whether a lender is completely legitimate.

Types of no credit check personal loans

You have two options to consider if you want a no credit check installment loan:

  • Secured personal loans. While secured loans usually come with more competitive rates and terms, you’ll need to offer an asset as collateral for the loan. Offering collateral may help borrowers with bad credit get approved and some lenders will not require a credit check. Keep in mind you can lose your assets should you default on your loan. A common type of secured no credit check loan is a car title loan, which uses your paid-off car as collateral.
  • Unsecured personal loans. Most unsecured personal loans will require a credit check. However, it is possible to find some online lenders that won’t require a credit check – but you’ll likely be charged higher interest than if a credit check were to be done. You can typically borrow up to $2,000.

Can you get no credit check personal loans with guaranteed approval?

No. Be wary of lenders offering no credit check personal loans with guaranteed approval — it could be a scam. Legitimate lenders of no credit check installment loans do have easier requirements, but they still need to review your income and debts before approving you for a loan.

Can you get instant approval on a no credit check installment loan?

Lenders of no credit check personal loans will need time to manually look at your application, though it’s possible to get fast approval in less than an hour. To speed up the process, apply online using instant bank verification. This method saves time because you won’t need to email the lender any documents. Instead, you’ll connect your bank account to give the lender view-only access to your bank statements.

How to apply online

You can apply for a no credit check installment loan online by completing the following steps:

  1. Fill out an application form. Head to your chosen lender or loan search platform’s website to complete an application. You’ll need to provide your name, contact details, proof of ID, bank account details and income and employment information.
  2. Get approved. Review any loan offer you receive before signing the contract. If applying through a loan search platform, you may need to compare multiple offers before choosing one.
  3. Get funded. The loan amount will then be deposited into your bank account. If you need cash fast, look for a lender that uses Interac e-Transfer.

Compare no credit check installment loans in Canada

LoanConnect

LoanConnect is an online loan search platform that can help you find a no credit check personal loan from its network of lenders.

Loan details

  • APR: 8.99% - 46.96%
  • Loan amount: $500 – $50,000
  • Loan term: 3 - 120 months
  • Serviced provinces: All provinces
  • Eligibility requirements: Canadian citizen or permanent resident, age of majority in your province of residence, current debts must total less than 60% of your income
  • Speed: Instant pre-approval, funding within 24 to 48 hours

Pros

  • Easy to apply for and compare loans
  • Fast access to funds
  • Loans from multiple lenders
  • DTI ratio of up to 60% accepted
  • BBB accredited with an A+ rating

Cons

  • LoanConnect is a broker, not a direct lender
  • High rates for bad credit

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Loans Canada

Loans Canada is a loan search platform with the largest lender network in Canada. It helps match you with lenders that provide loans suited to your needs, including options for bad credit borrowers.

Loan details

  • APR: 6.99% - 46.96%
  • Loan amount: $300 – $50,000
  • Loan term: 3 - 60 months
  • Serviced provinces: All of Canada
  • Eligibility requirements: Canadian resident, age of majority in your province of residence
  • Speed: Instant pre-approval, funding within 24 to 48 hours

Pros

  • Find out your matches with no impact on your credit score
  • Fast approval and funding
  • Easy online application
  • Large lender network
  • Borrowers with bad credit or no credit history accepted
  • BBB accredited with an A+ rating

Cons

  • High rates for bad credit
  • You can only access quotes from Loans Canada’s partner lenders
  • Some of your matches may run a credit check – you’ll need to withdraw consent if you don’t want a credit check

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24Cash

24Cash is an online broker that offers fast short-term personal loans with no credit check. Same-day funding is available and 24Cash says it works with several lenders to help match borrowers with loans.

Loan details

  • APR: 22.00% + broker fee
  • Loan amount: $500 – $850
  • Loan term: 90 - 120 days
  • Serviced provinces: Canada-wide except Manitoba, Quebec and Saskatchewan
  • Eligibility requirements: Be at least 18 years old, Canadian citizen, 3+ months employed, $1,200 monthly income, Canadian bank account with direct deposits for 3+ months, low short term debt ratio, no active or plans for bankruptcy
  • Speed: Within 24 hours

Pros

  • Same-day funding available
  • Paperless application
  • Access funds via Interac e-Transfer
  • A+ BBB rating

Cons

  • High broker fee of $225 applies
  • Not available in Manitoba, Quebec and Saskatchewan

Credito

Credito is an online broker that provides access to same-day no credit check loans. You can take advantage of a paperless loan application, with funds deposited into your account via Interac e-Transfer.

Loan details

  • APR: 23% + broker fee
  • Loan amount: $500 – $850
  • Loan term: 90 - 120 days
  • Serviced provinces: N/A
  • Eligibility requirements: Be at least 18 years old, Canadian citizen, have a Canadian bank account (3+ months old), have a steady job (3+ months), $1,200 monthly income
  • Speed: Within 24 hours

Pros

  • Same-day funding
  • Easy online application
  • Bad credit accepted

Cons

  • Short-term loans with high rates
  • Smaller loan amounts won’t suit all borrowers
  • Watch out for non-sufficient funds (NSF) fees
  • Broker fees of up to $225 will drive up the cost of your loan

Vancity

Vancity is a credit union serving BC residents. As a credit union, it has stricter requirements than alternative lenders, but its Fair & Fast Loan has a lower interest rate.

Loan details

  • APR: 19.00%
  • Loan amount: $100 – $2,500
  • Loan term: 2 weeks - 24 months
  • Serviced provinces: BC
  • Eligibility requirements: Must have enough room in your income to take on the loan
  • Speed: Same day

Pros

  • Reputable lender
  • Competitive rate
  • Fast approval and funding
  • Flexible terms

Cons

  • Riskier financial profiles may not get approved
  • Not available across Canada

Option 2: No credit check cash advance apps

  • How it works: A relatively new arrival in Canada, cash advance apps allow you to access a small cash advance to help you get through to your next paycheque. There’s usually no interest charged, but you’ll pay a fee to get instant funding. Your loan repayment is then automatically withdrawn from your bank account on your next payday.
  • How much you can borrow: Usually $20 – $350
  • How much it costs: No interest, but you may pay a subscription fee

Who are pay advance apps best for?

  • Apply for a pay advance app if you want a very small loan with zero interest and minimum fuss.
  • Avoid pay advance apps if you need a larger loan amount or if you don’t want to pay a subscription or instant transfer fees.

How to get a no credit check cash advance

Once you’ve found a pay advance app that suits your needs, here’s how to apply:

  1. Sign up for an account. Download the app or go to the website. Create an account by providing your name and contact details and connecting your bank account.
  2. Request an advance. Next, select how much you’d like to borrow and when you will pay it back to request a cash advance.
  3. Get approved. Standard advances are sent to your bank account within a few business days, but you can get money within minutes if you pay a fee.
  4. Repay your loan. Your loan repayment is deducted from your bank account on your next paycheque, but some providers allow you to extend the loan term.

Compare no credit check pay advance apps in Canada

Nyble

Nyble entered Canada in 2022. Apply online for an interest-free line of credit of up to $150 to cover small expenses and build your credit. Get funds in 1-3 business days with a free account. For $11.99 per month, get access to premium services, including funding in 1-30 minutes, a free Equifax credit report and identity theft protection.

Loan details

  • APR: No interest or fees to access credit line, optional $11.99/month membership to get premium services such as instant funding
  • Loan amount: $30 – $150
  • Loan term: 30 days, extendable
  • Serviced provinces: All provinces and territories
  • Eligibility requirements: You must be 18 years or older, have an active bank account with minimal NSF transactions and satisfy income requirements.
  • Turnaround time: 1-30 minutes with a paid membership or 1-3 business days with a free membership.

Pros

  • Quick and easy application
  • No interest
  • No late fees

Cons

  • $11.99/month for premium membership for instant transfers, full credit report and other premium perks
  • Low maximum loan amount of $150

Go to site

Bree

Early pay advance service Bree offers cash advances of up to $350. There is no credit check and you can apply within minutes. You are not charged interest charged on the money you borrow; however, you’ll pay a fee if you want to access your money instantly.

Loan details

  • APR: No interest or fees to access cash advance, fee for express funding (varies based on advance)
  • Loan amount: $20 – $350
  • Loan term: Next pay cycle (61 days max.)
  • Serviced provinces: All provinces and territories
  • Eligibility requirements: You must be 18 years or older, a Canadian resident and have a Canadian bank account that receives regular income.
  • Turnaround time: Within 8 hours for the express option (fee charged based on advance amount) and up to 3 business days for standard delivery

Pros

  • Easy to apply
  • 0% interest
  • No late fees

Cons

  • A fee applies if you want an instant transfer
  • $350 loan amount may be too small for some

Go to site

KOHO

Fintech company KOHO offers various financial products, including cash advances. Get a zero-interest cash advance ranging from $20 to $250 when you pay a subscription fee starting at $2/month. You'll need a KOHO account to access this service.

Loan details

  • APR: 0%, subscription fee starting at $2/month
  • Loan amount: $20 – $250
  • Loan term: Flexible
  • Serviced provinces: All provinces and territories
  • Eligibility requirements: KOHO account – access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
  • Turnaround time: Immediately

Pros

  • No credit check
  • No interest
  • No late fees
  • Access via the KOHO app or an ATM

Cons

  • You’ll pay a subscription fee starting at $2/month
  • Small loan amounts

Go to site

Option 3: Payday loans with no credit check

  • How it works: A no credit check payday loan offers fast access to funds when you need urgent cash, with some lenders offering loan approval and funding within minutes. You’ll need to repay the full amount by your next payday in most cases.
  • How much you can borrow: $100 – $1,500
  • How much it costs: $14 to $17 for every $100 borrowed, which works out to APRs in the triple digits

Who are no credit check payday loans best for?

  • Apply for no credit check payday loans if you need emergency cash and you’ve already exhausted all other alternatives.
  • Avoid no credit check payday loans if you won’t have enough income left after repaying your payday loan. If you need help with your debts, consider credit counselling.

Advantages of no credit check payday loans in Canada

  • Easy to get. Payday loans are one of the easiest loans to get approved for. Those with poor credit or no credit history can be approved. You can also apply if you’re unemployed but have benefits such as disability income, employment insurance, social assistance or pension.
  • Instant. Payday loans with no credit check can provide instant approval if you go through online bank verification, which doesn’t involve documents. If you opt to email your documents, instant approval is less likely. Once you submit your signed contract, you can get your loan via e-Transfer. Learn more about e-Transfer payday loans.

Watch out for these no credit check payday lender traps

  • Excruciatingly high interest rates. Payday loan APRs are extremely high, commonly over 300%. It should only be considered as a last resort.
  • Short loan terms. You have a very limited amount of time to pay back what you borrow. If you don’t have enough money left in your bank account after repaying your payday loan, you may be forced to take out another high-interest loan – and become stuck in a cycle of debt.
  • NSF fees. Payday lenders often set up automatic repayments directly from the borrower’s bank account. If an attempt by an online payday lender to withdraw payment results in insufficient funds, the borrower will face another fee from the bank this time.
  • Late fees. If you default on your loan, you can be on the hook to pay late fees. For example, in Ontario, a payday lender can charge you up to 2.5% per month on the outstanding principal.

How to apply online

Want to apply for a no credit check payday loan? Before you do, it’s worth considering a range of payday loan alternatives first.

If you decide a payday loan is the best option, here’s how to apply:

  1. Apply online or in-store. Apply online or via a lender’s mobile app. Many lenders offer online bank verification to allow faster processing. You also won’t need to wait for a credit check to be completed.
  2. Get approved. Check the loan agreement carefully before you sign. Make sure all details are correct and that the lender is transparent about the total cost of the loan.
  3. Get your funds. If you need the money quickly, some lenders send out loan amounts via Interac e-Transfer 24/7. Alternatively, you could choose a lender with physical branches and collect the cash in-store.

Compare payday loans with no credit check in Canada

PAY2DAY

PAY2DAY is a payday lender that provides loans online and in-store. It offers fast access to the money you borrow, with online approvals and funding available 24/7.

Loan details

  • APR: Varies by province
  • Loan amount: $300 – $1,500
  • Loan term: Up to 62 days
  • Serviced provinces: ON, BC, NS
  • Eligibility requirements: Active bank account with access to online banking, recurring income
  • Turnaround time: Within 1-2 hours via e-Transfer once approved

Pros

  • Mobile app also available
  • Access funds within hours
  • Accepts some types of non-employment income
  • High Trustpilot rating

Cons

  • Only available in ON, BC, NS
  • High fees and short loan terms

Loan Express

Loan Express is an online payday lender that offers no credit check payday loans. You can apply 24/7 and take advantage of same-day funding. Some government benefits are accepted as income.

Loan details

  • APR: Varies by province
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Serviced provinces: AB, BC, MB, NB, NL, NS, ON, SK, YK, NT, NWT
  • Eligibility requirements: Must be of the age of majority in your province or territory, with an active bank account and a steady form of income.
  • Turnaround time: Within minutes via Interac e-Transfer

Pros

  • 24/7 lender
  • Fast access to funds
  • Easy application process
  • A+ BBB rating

Cons

  • Not available in all provinces
  • Watch out for high APRs and short loan terms
  • Doesn’t accept employment insurance (EI) as income

My Canada Payday

My Canada Payday is an online lender where you can access emergency payday loans. There’s no need to undergo a credit check and you can complete an online application within minutes. Funds are distributed 24/7 via Interac e-Transfer.

Loan details

  • APR: Varies by province
  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • Serviced provinces: AB, BC, MB, NS, ON, SK

  • Eligibility requirements: Must be of the age of majority in your province, have a Canadian bank account, earn a steady form of income with an active bank account that receives direct deposit.
  • Turnaround time: Funds will be sent in as little as 15 minutes via Interac e-Transfer

Pros

  • Money delivered 24/7
  • Quick and easy application process
  • No need to upload documents

Cons

  • Not available in all provinces
  • High fees and short loan terms
  • Repayments automatically withdrawn from your bank account

Option 4: No credit check auto title loans

  • How it works: Car title loans allow you to take out a loan using your paid-off vehicle as collateral. This means you could access higher loan amounts and better rates, but you run the risk of your car being repossessed if you default on the loan.
  • How much you can borrow: 25% to 50% of your car’s value, up to $50,000
  • How much it costs: 9% – 49% APR

Who are no credit check car title loans best for?

  • Apply for no credit check car title loans if you own your car outright, it’s less than 10 years old, and you want to secure a higher loan amount and better interest rate.
  • Avoid no credit check car title loans if you’re not sure you can afford to repay the loan – if you default on the loan, you will lose your car.

How to apply for a title loan

After comparing options and selecting the right car title loan provider here’s how to apply for a no credit check car title loan:

  1. Apply online. Fill out an online application form with your name, contact details and vehicle information (such as year, make, model and mileage).
  2. Submit your documents. Next, provide any documents the lender requests to process your application. These may include your ID, vehicle registration, insurance documents, pay stubs or bank statements and pictures of your vehicle.
  3. Get your vehicle appraised. Some lenders require you to drive your car to one of their locations to have it inspected and appraised. However, some online lenders simply require you to submit photos of the vehicle’s condition, odometer and vehicle identification number (VIN).
  4. Get approved. Once you receive a loan offer, be sure to read it carefully to make sure all details are correct and that you understand the full cost of the loan.
  5. Get funded. The money will be deposited into your bank account. If you need cash fast, some lenders will send your money via Interac e-Transfer.

Compare no credit check car title loans in Canada

Get Loan Approved

getloanapproved.com offers no credit check car title loans with competitive interest rates. There are no job requirements which makes the approval process easier.

Loan details

  • APR: 9.95% - 29.00%
  • Loan amount: $1,000 – $50,000
  • Loan term: 12 - 72 months
  • Serviced provinces: AB, BC, MB, NB, NL, NS, ON, PEI, SK
  • Eligibility requirements: 10
  • Turnaround time: Within an hour

Pros

  • Easy application process
  • No job requirements
  • Get money within an hour

Cons

  • Not available in Quebec or the territories

Title Loans Online

Title Loans Online (titleloansonline.ca) offers car and motorhome title loans to Canadian drivers. You can apply online without a credit check and get pre-approved. Approval is based on the equity in your vehicle rather than your credit score.

Loan details

  • APR: 14% - 49%
  • Loan amount: $3,000 – $25,000
  • Loan term: 24 - 60 months
  • Serviced provinces: British Columbia, Alberta, Saskatchewan and Ontario
  • Eligibility requirements: Vehicles 2013 and newer with less than 200,000km. Vehicle must be fully paid for, registered in your name and have a full coverage insurance policy. Rebuilt or repaired vehicles not accepted.
  • Turnaround time: 24 hours

Pros

  • No prepayment penalties
  • One-hour approvals
  • Easy online application

Cons

  • Not available in all provinces
  • Vehicle must be 2013, or newer

Fast Action Finance

Fast Action Finance offers quick and easy access to car title loans online. You can apply and get your money the same day and there are no upfront fees to worry about.

Loan details

  • APR: N/A
  • Loan amount: Up to $25,000
  • Loan term: N/A
  • Serviced provinces: British Columbia, Alberta, Saskatchewan and Ontario
  • Eligibility requirements: Vehicle must be nine years old or newer and have less than 200,000km mileage. There must not be any money owing on the car and it must not be leased.
  • Turnaround time: Within 24 hours

Pros

  • Established in 1997
  • Simple online application
  • Same-day funding available
  • A+ BBB rating

Cons

  • Only available in Ontario
  • Vehicle must be less than nine years old

Other types of loans with no credit check in Canada

Pawn shop loan

  • How it works: With a pawn shop loan, you provide a valuable item (such as jewellery or current electronics) as collateral. You’ll get your item back once you repay the loan plus interest. However, higher interest rates and fees may apply. You also run the risk of your item being sold if you can’t make repayments.
  • How much you can borrow: 20% to 60% of the item’s resale value.
  • How much it costs: Interest of 5% to 30% commonly applies while you may also need to pay insurance and storage fees.

Pros and cons of no credit check pawn shop loans

  • Quick and easy to apply
  • Won’t affect your credit score
  • You could lose your asset
  • Can be expensive

Who are no credit check pawn shop loans best for?

  • Apply for no credit check pawn shop loans if you have a valuable asset you can use as collateral and you’re looking for a lender with lenient eligibility criteria.
  • Avoid no credit check pawn shop loans if you can’t afford the repayments. High rates and fees can apply and you’ll lose your asset if you default on the loan.

Credit card cash advance

  • How it works: A credit card cash advance allows you to withdraw cash from your card balance via an ATM or at your bank. It’s a simple and convenient way to access money, but you’ll need to pay a cash advance fee as well as higher interest rates.
  • How much you can borrow: Varies depending on the card issuer and your credit limit. Many card providers have maximum daily cash advance limits of $500 or less.
  • How much it costs: Cash advance fee of approximately $10 or 5% of the transaction cost. You’ll also need to pay interest at an APR of 22.99% or higher.

Who are credit card cash advances best for?

  • Consider credit card cash advances if you need fast and convenient access to cash without having to apply to a new provider.
  • Avoid credit card cash advances if you’re already struggling with credit card debt.

Bottom line

You have many options in Canada for no credit check loans, and it’s quick and easy to apply for them. However, most of them have steep interest rates. Before you apply for a no credit check loan, evaluate the risks and your alternatives first.

Frequently asked questions

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