Bad Credit Loans are available to individuals with all credit ratings but have been tailored specifically for customers who may have been refused loans elsewhere due to their less-than-perfect credit history. Bad credit loans are extremely flexible in terms of the size and length they have to offer. Whether you're in need of a small sum to cover unexpected costs before your next pay cheque or larger amounts for purchases such as a new car or home improvements there are sure to be a Bad Credit Loans which suit your needs. When researching Bad Credit Loans, look out for references to ‘Loans for people with bad credit' or ‘Loans for Bad Credit' as these are other names for this type of loan.
Spend time comparing the key features of the different types of Bad Credit Loans on offer. The most important aspect of bad credit loans to study is the borrowing rate. Due to the high risk nature of loans for people with bad credit the interest rate tends to be higher and in some cases the repayment costs may be beyond your means.
| COMPANY | APR | LOAN AMOUNT | MIN TERM | MAX TERM | PROVINCE | TERMS | SUITABLE | SECURED LOANS | APPLY |
| Varies with loan size, but starts at 15.61% | $2,300, $3,200 and $5,500 | 3 years | 5 years | ViewProvince | ViewTermsMonthly Payments: $78/$108/$126 | ViewSuitableIndividuals exiting insolvency needing to rebuild credit (Lendit can fund its loan prior to an individual being discharged from bankruptcy or consumer proposal). New immigrants. Students looking to build up credit. Individuals affected with identity theft. | Yes |  |
| Lendit provide a unique service by providing you with a loan which can rebuild your credit rating. This is the perfect solution for those who have a poor credit rating but what to take steps to rebuild it. The application process is easy and will help you on your way to restoring your credit! | ServicesServicesLoan / Credit Rebuilding Services
AdvantagesAdvantages1. Low Interest Rate.
2.No up-front out of pocket expense. Rebuild your credit after insolvency, or financial hardship.
3.Reports to the credit bureau (versus a payday loan that doesn’t report and therefore rebuild credit history).
4.Build up savings and a strong financial future by earning guaranteed interest on your GIC Savings Account. GIC is CDIC insured.
5.Almost all applicants are approved.
6.Access cash during the loan term (without affecting your interest rate or payment amount) for emergency expenses, paying off debts, or going on a vacation.
DisadvantagesDisadvantagesNot an upfront cash loan. |
| Varies | Up to $1500 | 1 day | 21 days | ViewProvince1.Alberta
2.British Columbia
3.Ontario | ViewTermsYou must provide bank details and a social security number. | ViewSuitableFor those in need of a short term cash solution. | No | |
| Wonga.ca is a ground-breaking online lender founded in the UK and serving Canadians from its Toronto based headquarters. Wonga.ca can help solve your short-term and urgent cash flow problems and with wonga.ca you only pay for what you borrow. Pay it back early and it’ll cost you less. Wonga.ca is different from other online lenders because of its sophisticated risk and decision technology which means that the application and approval process takes literally minutes. Wonga.ca is the first company in the world to fully automate the lending process and wonga.ca makes the approval process completely objective and responsible. Decisions are instant and wonga.ca always shows you the total cost upfront, so there are no hidden costs. | ServicesServicesThis is a fast and efficient Payday loan service.
AdvantagesAdvantages1.Very user-friendly calculator / sliding scale on homepage to view your possible loan, term and interest
2.Choose your repayment by the day - the shorter the loan the less you pay
3.If accepted, you'll get the money in your bank account very quickly.
4. Max loan amount is £1000 for new customers and up to £1,500 for existing customers
DisadvantagesDisadvantages1.You can only borrow up to $1500 |
| 599.64% | $100 – $1500 | 1 week | 1 month | ViewProvinceBritish Columbia and Ontario | ViewTermsYou must be regularily employed, and be using a bank account with Direct Deposit or Cheque pay. | ViewSuitableFor those in need of a short term cash solution. | No | |
| My Canada Payday is Canada's Premier Online Payday Broker. Their quick and secure online application will have money in your account without even leaving your home ! My Canada Paydays staff are very helpful and their loan application process is extremely quick and easy. | ServicesServicesOnline Payday Loan Application
AdvantagesAdvantages1.Totally Online Application Process – You can apply 24 hours a day, 7 days a week!
2.No Faxing Required.
3.Everything is done securely and safely via your PC.
4.Cash deposited direct to your bank account, or sent via EMT.
5.Safe, Convenient and Secure
DisadvantagesDisadvantages1.Must be paid via Direct Deposit or Cheque only.
2.No cash allowed.
3.You must live in B.C. Or Ontario at time of review |
| Depends on Lender | Up to $1,500 | 1 days | 31 days | ViewProvince | ViewTermsYou must be employed and over the age of 18 years old. | ViewSuitableImmediate Cash Needs | No | |
| CanadaloanSource.com provides you with a loan when you need emergency funds. There are very few requirements for approval on these bad credit loans and you will not need perfect credit to qualify! Apply online and you could receive your funds within 24 hours of submitting an application. | ServicesServicesPay day loan service
AdvantagesAdvantages1. Immediate Approval
2. Funds deposited same day
3. Up to $1,500 Loan
DisadvantagesDisadvantages1. Not available for self-employed, social assistance, workers comp or disability.
2. For short-term money needs only |
| 599.64% | Up to $1,500 | 0 days | 62 days | ViewProvinceBritish Columbia, Ontario and Alberta | ViewTermsYou must be employed, have an active bank account and be over the age of 18 years old. | ViewSuitableEmergency cash needs | No | |
| DollarsDirect provides you with a fast, convenient and reliable payday loans service. Their payday loans can help you bridge the gap between paydays and are a convenient option if you cannot access a payday loan through a traditional service.. New customers may qualify for up to $500 and returning customers can receive up to $1,500. To save 20% on your initial loan fee at DollarsDirect.ca, use discount code: CJCASH (not redeemable in British Columbia.) | ServicesServices1. Apply online
2. You may qualify for up to $500 for your first loan from DollarsDirect
3. Returning customers can receive up to $1,500
AdvantagesAdvantages1. Apply online in minutes 24 hours a day, 7 days a week
2. Easy to qualify — perfect credit not required
3. No paperwork required and there’s usually nothing to fax
4. Get your money today with same-day funding at no extra charge!
DisadvantagesDisadvantages1. The loan term can be up to 62 days.
2. For a loan of $1,500, the total cost of borrowing would be $315. The total amount you would repay would be $1,815. |
| 599.64% | Up to $1,500 | 7 days | 42 days | ViewProvince | ViewTermsYou must have an active bank account with direct deposit and be at least 18 years of age. | ViewSuitableEmergency cash needs | No | |
| Whatever you need that extra bit of cash for, Money Mart has got you covered. It doesn't matter if you have bad credit or have been turned down by other lenders, Money Mart can help you get a fast and easy Bad Credit Loan. | ServicesServices1. Apply online
2. You may receive up to $1,000 for your first loan
3. Repeat customers can receive up to $1,500
AdvantagesAdvantages1. Online Application – apply 24 hours a day, 7 days a week
2. No faxing required for qualified applicants
3. Cash deposited directly into your bank account, or pick-up your funds
4. Convenient, quick, hassle free
DisadvantagesDisadvantages1. You must have a source of income with direct deposit
2. You must reside in a province where the loans are offered |
| Dependent on State | Up to $1,500 | 1 week | 1 month | ViewProvinceAlberta and Ontario | ViewTermsYou must be over the age of 18 years old, reside in Alberta or Ontario and receive a steady source of income. | ViewSuitableFor those in need of emergency cash | No | |
| Got a money emergency? Hit with a big, unexpected, bill? Need vacation cash? Sometimes payday can seem like a long way away. So we’re here to help with payday loans that can help bridge the gap. For over 25 years, we’ve provided fast, friendly, service for no-hassle payday cash advances. | ServicesServicesPayday loan provider
AdvantagesAdvantages1. Fast Funding –Get your money safely deposited into your account today!
2. Instant Approval –Find out if you're approved right away!
3. Easy Application process –Faxless and Hassle Free!
DisadvantagesDisadvantages1. Fee is dependent on the state. |
| 60% - 299% | Up to $1,700 | 14 days | 30 days | ViewProvinceAlberta, Ontario and British Columbia | ViewTermsYou must be over the age of 18, currently employed and have an active bank account. | ViewSuitableImmediate cash needs | No | |
| Don’t get a bad credit loan, get Mogo! Mogo is Canada’s leading online short-term lender offering low credit alternatives to bad credit loans. Since 2003, they’ve challenged payday lenders by providing the most affordable, convenient and innovative loan solutions available. Compared to a payday lender Mogo offers customers up to 50% more money, at up to 90% cheaper and guarantees funding to your bank or Paypal account within 1 hour, 7 days a week. Get up to $1700 on your first 30 day loan and use the promocode WWTPCA receive 25% off. | ServicesServicesServices :
1.They lend the most money – up to 70% of net pay.
2.Get up to $1700 on your first loan.
3.Save up to 90% compared to a typical payday loan.
4.Guaranteed 1 hour funding to bank or paypal account 7 days a week
5.They have a cheaper 30 day loan and a flexible line of credit product
AdvantagesAdvantages1.9 out of 10 applicants approved
2.Easy application and instant approval decision
3.1 hour bank or Paypal account funding guaranteed, 7 days a week
4.100% money back happiness guarantee before first payment
5.Multiple loan products with flexible and affordable payment options
DisadvantagesDisadvantages1.At this time Mogo can only loan to someone who is employed and being paid by their employer.
2.Services not available in New Brunswick or Quebec. |
| Dependent on Province | Up to $1000 | 1 week | 1 month | ViewProvince | ViewTermsPayday Ninja matches prospective borrowers with leading loan providers in Canada. They promote various financial services and products for Canadian residents over the age of 18. | ViewSuitableFor those in need of a short term cash solution. | No | |
| Payday Ninja is a fast and efficient payday loan service which can provide you with loan in no time. Your credit rating doesn't matter. The online application is simple and straight forward. Payday Ninja can provide you with cash if payday is just that bit too far away. | ServicesServicesFast efficient payday loan service.
AdvantagesAdvantages1.Fast Application
2.Instant Approval
3.No Paperwork
4.All Credit Ratings
DisadvantagesDisadvantages1.Loan not guaranteed
2.British Columbia, Alberta, Ontario only |
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