British Columbia accounts for roughly one in eight personal loan applications Smarter Loans receives, third behind Ontario and Alberta. This report covers the year to July 2026, drawn from 9,687 British Columbia applications, against the national figures over the same period. Lenders serving the province are on the British Columbia personal loans page; this is the data behind it.
What British Columbians ask for
Across Smarter Loans personal loan applications from August 2025 to July 2026, British Columbia against the national figure:
- Average request: $2,470. Against $2,604 nationally.
- Applications for $1,500 or less: 72 percent. Against 71 percent nationally.
- Consolidation request: $6,392. Against $6,659 nationally.
View as table
| British Columbia | $2,470 |
| Canada | $2,604 |
Source: Smarter Loans personal loan applications, August 2025 to July 2026.
British Columbia borrows a little less than the country and slightly more of it is small, which is what a province looks like when most people with strong credit borrow from their bank.
Credit bands in British Columbia
Across the 5,211 Smarter Loans personal loan applications from British Columbia that recorded a credit band between August 2025 and July 2026:
- Fair: 50.1 percent.
- Low: 28.3 percent.
- Good: 12.9 percent.
- No credit or unsure: 6.4 percent.
- Great: below the reporting floor.
That mix is almost identical to Ontario’s, with the same half-fair, quarter-low shape, and a larger good share than every province except Ontario.
Consolidation
British Columbia consolidates a little below the national figure. Across Smarter Loans applications from British Columbia from August 2025 to July 2026, the average debt consolidation request was $6,392, against $6,659 nationally. Business and auto applications from the province fell below the reporting floor over this window, so no provincial figure is published for either.
The rules that apply in British Columbia
Payday lending in British Columbia is capped at $14 per $100 borrowed, in force since January 2025, on loans of up to $1,500 and 62 days, and lenders must be licensed by Consumer Protection BC. British Columbia applies the standard six-year bankruptcy retention at both bureaus, according to the Financial Consumer Agency of Canada.
What this means if you are borrowing in British Columbia
If your request is around $2,500 and your credit is fair, you are the typical British Columbia applicant and the lenders on the British Columbia personal loans page underwrite that file daily. The province's small-loan share is among the highest in the country, so the payday loan alternatives guide is worth a read before borrowing at that end of the market, and how to find the best loan rates covers how to compare once you have offers.
Frequently asked questions
How much do people in British Columbia borrow with a personal loan?
An average of $2,470 across 9,687 Smarter Loans personal loan applications from British Columbia from August 2025 to July 2026, slightly below the national average of $2,604.
What credit score do most BC loan applicants have?
Half report fair credit and just over a quarter report low, a mix almost identical to Ontario's.
What is the payday loan limit in British Columbia?
$14 per $100 borrowed, on loans of up to $1,500 and 62 days. Lenders must be licensed by Consumer Protection BC.
How does British Columbia compare with the rest of Canada?
British Columbia borrows slightly smaller amounts, with a higher share of applications under $1,500, and consolidates a little below the national figure.
About this data
Figures are drawn from Smarter Loans personal loan applications from British Columbia between August 1, 2025 and July 31, 2026, 9,687 in total, of which 5,211 recorded a credit band. National comparators use all provinces over the same window. Amounts are requested at application, not funded; credit band is self-reported. Averages are used throughout. More of our data is at Smarter Loans Research. Smarter Loans has connected more than 2 million Canadians with financing since 2016.
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The Smarter Loans Editorial Team produces in-depth, original content to help Canadians navigate borrowing, credit, and personal finance with confidence.
