OppLoans is a US-based online lender that offers personal loans from $500 to $4,000 for poor credit borrowers. Its rates vary from state to state but can run around 160%–179% APR.
Is OppLoans in Canada?
Unfortunately, OppLoans doesn’t accept loan applications from Canada. But here’s a list of Canadian lenders like OppLoans along with rates, fees and terms to help you narrow down your options.
Loans Canada lets you skip the hassle of submitting multiple loan applications to many lenders. Provide basic information, and get matched with lenders that work with borrowers who have your financial profile. Loans Canada's partner network is extensive, and the platform is completely free to use. Plus, bad credit doesn't have to hold you back from getting funds.
Largest lending network in Canada
Easily compare offers with one application
Loans for good and bad credit
Multiple loan types available
Not a direct lender
High rates for bad credit
Credit check might be required
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
Another loan search platform on our list, LoanConnect helps you narrow down lenders with just one application. Apply online for secured and unsecured funding, and get pre-approved in minutes. Good and bad credit applicants are welcomed.
Fast pre-approval
Secured and unsecured loans
Options for good and bad credit
Not a direct lender
High rates for bad credit
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
Spring Financial steps in where banks and credit unions stop, providing personal loans to borrowers who don't meet traditional income and credit score requirements. You can apply entirely online, and there are no fees for early repayment. Note that if you don't qualify, you may be offered The Foundation loan, a credit building loan that isn't disbursed until you finish making upfront payments with interest.
High-risk applications are okay
Flexible loan amounts from $500 to $35,000
No early repayment fees
Interest rates of up to 35% for bad credit
You may be offered a credit builder loan (The Foundation loan) instead of a personal loan
Loan Amount
$500 – $35,000
APR Range
9.99% – 35%
Loan Term
6 - 84 months
Serviced Provinces/Territories
All of Canada
Turnaround Time
Within 24 hours
Min. Credit Score
550
Fees
No fees except $30 NSF fee
Requirements
Min. income of $2,000, min. credit score of 550, 3+ months employed
Looking for short-term loans with no credit check and fast funding? Check out Green Loans. You can get approved and receive funds in less than 24 hours. Bad credit isn't a barrier to getting approved, and you don't need to provide any collateral. However, watch out for a broker fee that may get added to your payments. This can make your loan much more expensive.
Approval and funding within 24 hours
Bad credit accepted
No collateral required
No early repayment penalties
Brokerage fee applies
Self-employment income may not be accepted
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.
easyfinancial is an option for borrowers with good and bad credit, including those who are new to Canada. Applying for secured and unsecured funding is quick, and flexible repayment options are available. If you apply with a co-applicant, you could qualify for a 2% rate reduction.
Fast application, approval and funding
Secured and unsecured loans
2% rate reduction with a co-applicant
Low or no credit is okay
Steep rates for bad credit
Extra fees for optional services (i.e. loan insurance and Credit Optimizer)
Loan Amount
$500 – $150,000
APR Range
9.99% – 35%
Loan Term
9 - 240 months
Serviced Provinces/Territories
All provinces
Turnaround Time
Approval within 30 minutes
Min. Credit Score
300
Fees
you may come across non-sufficient funds fees, late payment fees, missed payment fees or admin fees
Requirements
Be a Canadian citizen. Meet the minimum age requirement, which varies from province to province. Be able to demonstrate an ability to make repayments. Min. monthly income of $1,200.
An alternative to short-term loans, 24Cash connects borrowers with short-term installment loans from among the company's network of partner lenders. No credit checks or documents are necessary. Depending on when you apply, it's possible to get approved and funded the same day. Loan amounts are small, starting at just $500 for first-time borrowers, but that's one of the reasons why it's easy to get approved.
No credit check
Easy online application with instant bank verification (no documents required)
Approval and funding within 24 hours
Broker, not a direct lender (broker fee applies)
Small max loan amount of $850
Short repayment term
Loan Amount
$500 – $850
APR Range
Starting at 22%
Loan Term
90 - 120 days
Serviced Provinces/Territories
All of Canada (excluding MB, QC, SK)
Turnaround Time
Within 24 hours
Min. Credit Score
300
Fees
broker fee of up to $225
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
OppLoans might be worth considering for US borrowers who don’t qualify for a personal loan due to bad credit. But with APRs of up to 179%, OppLoans is more expensive than a cash advance, which usually doesn’t come with finance fees or interest.
But if you have poor credit and need more money than cash advances offer, loans like OppLoans are generally cheaper than payday installment loans, and you can potentially borrow up to $4,000 or more.
OppLoans only requires a soft credit check to qualify, which doesn’t affect applicants’ credit scores. This is also true of some of the lenders on our list of OppLoans alternatives.
Customers give OppLoans mostly positive reviews online. However, some report dissatisfaction with high interest rates and inefficiencies in the application process.
Alternatives to personal loans
The personal loans above aren’t your only option if you need online funding fast and have bad credit. Here are some alternatives to consider:
Cash advance apps. You can access funds instantly for a fee with cash advance apps in Canada, and credit checks aren’t required. However, they have lower loan amounts than personal loans.
Payday loans. These are instant emergency loans you can get online with poor credit. They’re extremely expensive, so they only work as a last resort. Learn more about payday loans.
Credit card cash advances. Withdraw cash from an ATM using your credit card. This is also an expensive option, as interest accrues the moment you withdraw.
Lines of credit.Lines of credit for bad credit may be an option if other aspects of your application are strong. But generally, these are harder to get.
Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family.
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Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time.
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Here’s how to get a $500 loan to see you through until your next payday.
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