If you have less than ideal credit, there are still many reputable companies on Smarter Loans that may be able to help you. Below you will find a list of our most trusted lending companies that work with poor credit or no credit situations. Bad credit loans in Canada can be obtained easily, just by filling out a quick online application. Take a look at the options below, and click “Apply Now” next to one of the companies, to submit a request to them directly. You can also choose to Apply with Smarter Loans, and we will find the most suitable loan provider in your province, and connect you with them.
Spring Financial provides Canadians with access to fair priced financial products. They offer a range of products including personal loans, mortgages and credit building.
Their unsecured personal loans application is quick, easy to fill out and every step of the process can be done online or over the phone – Spring Financial Phone Number Canada: 1-877 393 1516
Spring Financial loans range from $300 to $35,000, with interest rates from 9.99 – 34.95%. Once you are approved, then you can sign the loan documents right away. You can use the funds for whatever you want. All of their loans are open which means you can pay them back at any time with no extra fees or penalties.
Don’t let a tight budget or less-than-perfect credit history stand in your way. Get prequalified today with MDG Financial – where everyone is considered for an MDG Cash Loan.
We offer a range of financial products, including instalment loans of up to $20,000 with funds deposited into your bank account within 3 hours of final checks. Or, a Line of Credit of up to $3,200, which can be used to finance purchases made on MDG Canada (mdg.ca).
Whether you need quick access to cash or wish to finance a big purchase, MDG loans have the solution for you. Our flexible payment plans make managing your budget stress-free, whether you’re financing a product or obtaining a cash loan.
Don’t let financial setbacks hold you back – apply now for MDG Finance and get the best rate for you.
Loan Away is a Canadian owned and operated online-only lender. This means they don’t have expensive retail branches or locations to maintain, and more savings can be passed onto customers. They use unique proprietary technology to approve loan applications. It’s easy to fill out applications in the comfort and privacy of your home.
Are you looking to get a personal loan and currently live in Canada? If so then welcome to Eastern Loans. Since 2014, EasternLoans.com has been able to provide a tremendous customer service experience to Canadians. We take pride in the fact that we are fast, secure and easy to use. Apply now and receive your money today! Nous parlons aussi français! Hablamos español tambien!
Nyble helps Canadians build a better & stronger financial tomorrow starting with today. With Nyble, you can establish a credit-building line of $30-$250 to build your credit history within minutes, no prior credit history required. Monitor and check your credit score and full report as you progress in your journey. Protect yourself digitally with balance and identity protection coverage and more.
Bree loans provides Canadians with the option to obtain cash advances of up to $500, offering a convenient way to prevent bank account overdraft fees. Applying for a Bree cash advance is a swift and straightforward process that can be done online in just a few minutes, and it doesn’t necessitate a credit check. Bree’s loan service comes with a 0% interest rate; however, there is a minor fee associated with instant funding.
The Bree app is managed by Bree Technologies so both these references refer to the same company.
Since 2023, MoneyUp has been helping over 5,000 Canadians take control of their finances – whether it’s spending, saving, or borrowing – quickly, affordably, and reliably.
Our easy-to-use app is packed with tools designed for everyday financial needs and those unexpected moments. With features like FastForward, users can access an instant line of credit up to $1,000, giving them the freedom to stop waiting for payday and get funds in minutes – simply, securely, and affordably.
Need an extra cushion? MoneyUp also offers an instant, affordable overdraft, ensuring you have access to emergency funds when you need them most.
easyfinancial, a division of goeasy Ltd., is one of Canada’s leading non-prime consumer lenders, providing everyday Canadians with access to responsible credit solutions when traditional banks may not be an option. Since its launch in 2006, easyfinancial has supported individuals and families in building stronger financial futures through flexible personal and home equity loans, financial education tools, and a commitment to second chances.
easyfinancial specializes in helping non-prime borrowers access unsecured personal loans ranging from $500 to $20,000 and secured home equity loans from $15,000 to $150,000. With interest rates starting as low as 9.99% and repayment terms of up to 240 months, easyfinancial offers practical lending options designed to meet diverse financial needs. Customers can get approved in minutes, receive funds in as little as 24 hours, and improve their credit with every on-time payment.
With over 2,400 dedicated team members across Canada, easyfinancial is proud to provide a path to a better tomorrow – today. From online applications to branch-level support, easyfinancial continues to grow its national footprint while empowering Canadians to rebuild their credit, reach their goals, and take control of their financial well-being.
Magical Cash is a fast, secure, and simple way to access short-term loans in Canada. Powered by Magical Credit, a trusted Canadian lender, Magical Cash helps individuals who may not qualify for traditional bank loans due to credit history or income type. The process is fully online, approvals are quick, and funds can be delivered in as little as 20 minutes.
Clients can borrow anywhere from $300 to $1,500, and there is no credit check required. The service is available to residents of Ontario, British Columbia, and select territories. Whether someone is employed, self-employed, or receiving government assistance, Magical Cash offers flexible, respectful, and transparent lending.
The focus is on privacy, accessibility, and customer satisfaction, ensuring that Canadians can manage short-term expenses with ease and confidence.
Money Mart loans are a leading provider of financial services in North America with over 500 physical locations in Canada. For 40 years they’ve been committed to providing financial solutions that meet the evolving needs of consumers and business owners.
Money Mart offers a variety of financial services such as consumer Personal Loans (Installment Loans and Cash Advance), cheque cashing, money transfers, prepaid credit cards and much more such as Money Mart line of credit
Take the stress out of borrowing. Mogo offers a range of easy-to-use products to help you rule you finances: personal loans of up to $35,000, free credit score monitoring, mortgages, identity fraud protection, and more. Our loan experience is designed to help you get out of debt faster, whether you have good or not-so-great credit. See your no obligation loan pre-approval in just 3 minutes without affecting your credit score.
Mogo is a member of the Canadian Lenders Association:
GoDay Loans issues fast online payday loans that give Canadians quick access to the cash they need.
Their process is 100% online, with no paperwork or faxing. Simply complete an online loan application, receive an instant decision, and sign your contract online. No hidden fees. Perfect credit not required. Funds delivered by same day deposit or Interac email money transfer.
Currently, GoDay issues online payday loans in Ontario, British Columbia, Alberta, Saskatchewan, New Brunswick, Nova Scotia, and Prince Edward Island.
My Canada Payday has been solving customer’s cash problems with payday loans since 2008. High acceptance rates, fast approval, and funds sent instantly through Interac online e-transfer make them the ideal place to get an online payday loan in any of the six provinces they server: BC, Alberta, Manitoba, Saskatchewan, Ontario and Nova Scotia.
Since 1992, nearly 1.2 million Canadians have relied on Cash Money to meet their short-term cash needs quickly, conveniently and with more flexibility than banks, other payday lenders, and cheque cashing companies.
LendDirect personal loans cover many uses. Whether you need to pay for a large purchase, cover unexpected expenses, or consolidate your debt, a LendDirect personal loan may be able to help you achieve your goal.
Since 2001, Cash 4 You has helped millions of hardworking Canadians with a variety of personalized money solutions including Installment Loans & Canadian Personal Loans with no hassle and more flexibility than banks.
We are a Canadian Consumer Finance Association recognised, fully-licensed lender serving our valued customers all across Ontario. We believe our customers deserve transparent & understandable loan terms and therefore encourage fair and fully disclosed lending practices.
Our core values drive our passion and uncompromising dedication to treat every customer with the highest level of integrity & respect. All for the sole purpose of our customers having confidence in their choice to work smartly & reliably with Cash 4 You.
What differentiates Cash 4 You is our culture and our extreme customer obsession! We stop at nothing to WOW our customers. We do whatever it takes to make them happy & successful!
Cash 4 You Customer Service Phone Number: 1-888-997-2807
Once you become a customer you can use your Cash 4 You login to access your account and manage your details without the need to contact their customer service department – however there is a customer service chat available online if required.
Fora aims for credit inclusivity. At Fora, we understand that an emergency can happen, and you may need some financial help. We are proud to offer the flexibility of a Line of Credit and serve Canadians from different parts of the country.
Breeze through your application online in just minutes and get a quick answer to see if your application was approved. If approved, you may receive your funds as soon as the same business day.
KOHO Cover offers instant cash advances with no interest, no credit checks, and no hidden fees – giving Canadians a smarter way to manage short-term cash flow. With up to $250 available instantly through the KOHO app, users can bridge the gap between paydays without stress. Repay automatically on your next direct deposit and enjoy peace of mind with a transparent, low-fee solution built for flexibility.
When trying to borrow money for any reason - a mortgage, a medical bill, a car, debt consolidation, or something else entirely - most lenders will ask for a credit check. This is so they can assess your ability to pay the loan back. But what exactly do they look at?
Once all of these variables are synthesized, the output is your credit score. A credit score between 300 to 550 is generally considered to be poor, while scores of 650 or over are considered good.
How Does Bad Credit Happen?
Missed or late credit paymentsCredit cards that are regularly stretched to their maximal limitsApplying for too many loans within a short period of timeDefaulting on loans
The chart below shows that nearly 50% of Canadians fall within the 700-799 credit score range. Also, over 25% of Canadians have a credit score below 699.
Bad Credit Loans Frequently Asked Questions
How Big of a Personal Loan Can I Get Approved for with Bad Credit?
Can I Receive a Bad Credit Loan with a Previous Bankruptcy on My Record?
Do I Need a Downpayment for a Bad Credit Loan in Canada?
What are the Consequences for Non-Repayment of Bad Credit Loans in Canada?
What Interest Rates Should I Expect for Bad Credit Loans?
Will a Bank Give Me a Loan with Bad Credit?
Where Does Offer Loans for Bad Credit?
Can I Trust Lenders Offering Bad Credit Loans with No Credit Check and Guaranteed Approval?
What's a Direct Lender?
How Do I Find Out If I Have Bad Credit?
Pre-Apply For a Bad Credit Loan
Expert Review & Editorial Standards
This page was researched, written, and reviewed by financial professionals with expertise in Canadian lending regulations. All information is regularly updated to reflect current rates, terms, and regulatory changes.
Reviewed By
Jenna West
Financial Writer & Content Director
Jenna has covered the Canadian FinTech and consumer lending industry since 2017. She specializes in regulatory updates, consumer protection, and helping Canadians navigate complex financial products.
8+ years analyzing Canadian consumer lending
Monitors FCAC and provincial regulatory changes
Specializes in personal loans and alternative lending
Written By
Amy Orr
Financial Content Specialist
Amy is a financial writer with 10+ years covering Canadian, U.S., and U.K. financial markets. She holds a Masters in Finance from the University of Edinburgh Business School and formerly worked in the hedge fund sector.
Masters in Finance, University of Edinburgh
Former hedge fund professional
Published in major financial publications
About Smarter Loans
Canada's independent lending comparison platform since 2016. Trusted by over 2 million Canadians and recognized by the Toronto Star as "the GPS of FinTech Lending." Featured in the National Post and major Canadian publications.
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Verified Lenders OnlyAll lenders verified for proper licensing and regulatory compliance
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Regular UpdatesContent monitored and updated for rate changes and new regulations
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2M+ Canadians ServedHelping Canadians compare loans since 2016
Our Editorial Process
Every page undergoes research, expert writing, fact-checking, and review by our Financial Content Director. We verify all rates, terms, and regulatory information against official sources including FCAC guidelines and provincial lending regulations.
Last Updated: November 11, 2025 | Next Review: Ongoing monitoring
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