{"id":886148,"date":"2020-10-16T13:43:44","date_gmt":"2020-10-16T17:43:44","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=886148"},"modified":"2026-03-25T12:51:29","modified_gmt":"2026-03-25T16:51:29","slug":"loans-canada-personal-loan-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/personal-loans\/loans-canada-personal-loan-review","title":{"rendered":"Loans Canada review: Get matched with lenders"},"content":{"rendered":"

What is Loans Canada?<\/h3>

Loans Canada is a specialty online platform you can use for free to find lenders. When you apply to Loans Canada, it will use your information to match you with suitable lenders based on your situation. This is especially helpful if your current circumstances limit your options\u2014for example, if you have bad credit or have experienced bankruptcy in the past.<\/p>

Loans Canada has partners that can work with borrowers who may not qualify for a bank or credit union loan.<\/p>

You can complete Loans Canada\u2019s application in less than 10 minutes and get approval from a direct lender within 24 to 48 hours. All in all, you can get a personal loan within one to three business days, which is faster than applying to banks or credit unions.<\/p>

Is Loans Canada legit?<\/h3>

Yes, Loans Canada is a legit loan search platform. Operating since 2012, Loans Canada is a member of the Canadian Lenders Association and is accredited by the Better Business Bureau with an A+ rating. It has been mentioned in CBC News, Toronto Star and Financial Post.<\/p>

Watch out for scammers posing as Loans Canada. Never give out your bank account login information, and do not respond to unsolicited emails with an attractive loan offer and claims that there are no upfront fees.<\/p>

\n
\nRelated: <\/span>Alternatives to Loans Canada<\/a>\n<\/div>\n<\/article>

Loans Canada personal loan features<\/h3>
Feature<\/th>Details<\/th><\/tr><\/thead>
Loan amount<\/td>$500 \u2013 $35,000<\/td><\/tr>
Loan term<\/td>6 - 60 months<\/td><\/tr>
Interest rate<\/td>9.99% - 35.00%<\/span><\/td><\/tr>
Fees<\/td>No application, origination or brokerage fees<\/td><\/tr>
Serviced provinces and territories<\/td>All of Canada<\/td><\/tr>
Basic eligibility requirements<\/td>Minimum credit score of 300<\/td><\/tr><\/tbody><\/table>

Go to site<\/a><\/p>

Who is Loans Canada for?<\/h3>

Loans Canada works with over 70 lenders to help people of all credit scores find a loan. It has low interest loan options<\/a> for people with credit scores above 660 and fair or bad credit loan options for those with credit scores below 660. You can apply to Loans Canada if you want to compare offers from multiple lenders to find the best loan for your needs.<\/p>

\n
\nRelated: <\/span>Best bad credit loans in Canada<\/a>\n<\/div>\n<\/article>

What we like about Loans Canada<\/h3>
  • Largest lender network in Canada. <\/strong>Browse a selection of lenders that can potentially finance you.<\/li>
  • Easy application.<\/strong> The application takes less than 10 minutes and only asks for basic personal and financial information.<\/li>
  • Quick approval and funding.<\/strong> You\u2019ll get access to your cash within one to three business days from the time you apply.<\/li>
  • More choice.<\/strong> Loans Canada works with multiple lenders to give you as many options as possible so you can find the best loan for your personal situation.<\/li>
  • Free service.<\/strong> There\u2019s no fee to use Loans Canada\u2019s service, since it receives a commission directly from the lender you sign up with.<\/li>
  • High loan amounts.<\/strong> You can apply for up to $35,000 with a Loans Canada personal loan.<\/li>
  • No collateral required.<\/strong> There are options for unsecured loans, so you won\u2019t need to put up any collateral like your home or vehicle.<\/li>
  • Bad credit doesn\u2019t matter.<\/strong> Loan decisions are based on factors like your income, so the state of your credit won\u2019t be as important. The same applies if you have limited or no credit history.<\/li>
  • Confidential and no obligation.<\/strong> All consultations with Loans Canada are confidential, and you are under no obligation to proceed with a loan.<\/li>
  • Security.<\/strong> Loans Canada says that your data is protected and your connection is encrypted.<\/li><\/ul>

    What to watch out for<\/h3>
    • High interest rates for bad credit.<\/strong> The interest rates you\u2019ll pay can reach as high as 35% APR if you have poor credit, which means your loan may cost more than what you would pay with a credit card.<\/li>
    • Personal information required.<\/strong> You\u2019ll be required to input sensitive information online that will be forwarded to the third-party lenders you\u2019re matched with.<\/li>
    • No online quotes.<\/strong> You\u2019ll have to speak to a customer service representative over the phone to find out what rates you qualify for.<\/li>
    • Quotes come from affiliated providers.<\/strong> You\u2019ll only get quotes from companies that Loans Canada is partnered with, so you may miss other competitive offers from non-partner lenders.<\/li>
    • Credit checks may be required.<\/strong> While you can find out who your matches are without affecting your credit score, some of your matches may run a credit check. You\u2019ll need to withdraw your consent if you don\u2019t want a credit check.<\/li><\/ul>

      Compare personal loans from loan search platforms and direct lenders<\/h3>