Bad credit loans in Canada
Bad credit loans: you can still apply.
Many lenders look at your income and your ability to repay, not only your credit score. One form lets lenders in our network take a look.
At a glance
Credit score
All scores can apply
What lenders check
Income, bank account, existing debts
Loan types
Payday and instalment loans
Cost to apply
Free
Approval is never guaranteed. The lender makes the final decision.
How it works with bad credit
What lenders look at besides your score.
Credit scores in Canada run from 300 to 900. A lower score can make some banks say no, but bad credit loans from other lenders are still an option.
Some lenders weigh your current income and how much you already owe more heavily than past credit problems. Expect a higher rate than a bank would charge, and always read the total cost.
Bad credit loans can be payday loans or personal instalment loans. Our responsible borrowing guide explains the limits in Canada.
Improve your chances
Ways to improve your chances.
01
Borrow only what you need
A smaller amount is easier to approve and easier to repay.
02
Have your income details ready
Lenders want to see regular income going into your bank account.
03
Check your credit report
Equifax and TransUnion both let you see your report for free. Fix any errors you find.
04
Pay down what you can
Lower balances on cards and other loans can make a lender more comfortable.
How it works
Apply in three steps.
You apply online from your phone or computer, with nothing to print and no branch to visit.
1
Fill in one short form
Tell us how much you need, plus a few details about you and your income.
2
We look for a lender
Your request goes to lenders in our network who may be able to help.
3
Review your offer
If a lender makes an offer, read the terms and decide. You never have to accept.
Is it right for you?
When a bad credit loan makes sense.
A good fit if
- You have regular income to repay on time
- You need money for a real, one-off cost
- You have compared the total cost
- You want to rebuild your credit with on-time payments
Think twice if
- Someone asks for an upfront fee to approve you
- A lender promises approval before you apply
- Repaying would mean missing rent or bills
- You are already behind on other loans
Who can apply
What you need to apply.
Most lenders in our network ask for the basics below. A lender may ask for more before making an offer.
- You are at least the age of majority in your province (18 or 19)
- You live in Canada
- You have a regular source of income
- You have an active Canadian bank account
- You have a valid email address and phone number
FAQ
Bad credit loans: common questions.
Our FAQ page covers costs, credit checks and how lenders decide.
Can I get a loan with bad credit in Canada?
You can apply. Many lenders look at your income and ability to repay, not only your score. Approval is never guaranteed, and the lender decides.
Will applying hurt my credit score?
Sending your request through Fast Easy does not affect your score. A lender may check your credit before an offer, so ask which type of check it uses.
Why are rates higher with bad credit?
Lenders charge more when they see more risk. In Canada the rate still can’t go above 35% APR, and payday loans can’t cost more than $14 per $100.
Can a lender promise approval in advance?
No. A licensed lender has to review your application before deciding. Be careful with anyone who promises approval or asks for a fee up front.
How can I rebuild my credit?
Pay every bill on time, keep card balances low and check your credit report each year. An instalment loan paid on time can also help if the lender reports to the bureaus.