6 Loans Like OppLoans in Canada

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.

Finder Score	APR Range	Loan Amount	Loan Term
Loans Canada
8.6 Great Loans Canada Personal Loan	8.6 Great	9.99% - 35.00%	$500 - $50,000	6 - 60 months	Go to siteView details Compare product selection Compare	loading	Why we like it 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. Pros & cons Pros Largest lending network in Canada Easily compare offers with one application Loans for good and bad credit Multiple loan types available Cons Not a direct lender High rates for bad credit Credit check might be required
LoanConnect
8.8 Great LoanConnect Personal Loan	8.8 Great	8.99% - 35.00%	$500 - $60,000	3 - 120 months	Go to siteView details Compare product selection Compare	loading	Why we like it 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. Pros & cons Pros Fast pre-approval Secured and unsecured loans Options for good and bad credit Cons Not a direct lender High rates for bad credit
Spring Financial
8.5 Great Spring Financial Personal Loan	8.5 Great	9.99% - 35%	$500 - $35,000	6 - 84 months	Go to siteView details Compare product selection Compare	loading	Why we like it 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. Pros & cons Pros High-risk applications are okay Flexible loan amounts from $500 to $35,000 No early repayment fees Cons 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
easyfinancial
8.6 Great easyfinancial Personal Loan	8.6 Great	9.99% - 35.00%	$500 - $150,000	9 - 240 months	View details Compare product selection Compare	loading	Why we like it 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. Pros & cons Pros Fast application, approval and funding Secured and unsecured loans 2% rate reduction with a co-applicant Low or no credit is okay Cons Steep rates for bad credit Extra fees for optional services (i.e. loan insurance and Credit Optimizer)
24Cash
7.1 Great 24Cash Installment Loan	7.1 Great	22.00% + broker fee	$500 - $850	90 - 120 days	View details Compare product selection Compare	loading	Why we like it 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." Pros & cons Pros No credit check Easy online application with instant bank verification (no documents required) Approval and funding within 24 hours Cons Broker, not a direct lender (broker fee applies) Small max loan amount of $850 Short repayment term

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How does OppLoans compare?

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.

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Written by

Stacie Hurst

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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. See full bio

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Kat Aoki

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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. See full bio

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Kat has written 6 Finder guides across topics including:

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