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More than in any other province. In the first half of 2026, 4,770 Ontario applicants on our platform had a credit score under 560. That is about a quarter of all Ontario applications.
| Credit score | Share of Ontario applications |
|---|---|
| Under 560 | 25.9% |
| 560 to 659 | 42.6% |
| 660 and up | 4.7% |
Smarter Loans platform, 18,440 personal loan applications from Ontario, 1 January to 30 June 2026.
Small, everyday costs. Ontarians under 560 ask for about $1,800 on average. About four in ten are catching up on bills, at about $1,600. One in eight is paying a medical cost.
Those consolidating debt ask for about $4,700, three times as much as bills.
Eleven of the sixteen personal lenders serving Ontario, all listed on the personal loans in Ontario page. Seven consider poor credit, and four set no minimum score. Eight pay out within 24 hours, and all eleven within two days. Our application reaches all eleven at once.
Income minimums run from $1,000 to $2,000 a month. The lenders look at three months of bank statements before your score.
The federal cap. No consumer loan in Canada can charge more than 35% APR, so no lender listed prices above it. A payday loan is regulated separately by Ontario at $14 per $100, and it costs less only if you repay it in full on time.
In Ottawa, the bad credit loans in Ottawa page shows what people there borrow. Every lender we work with that lends below 560 is on the bad credit loans in Canada page.
Reviewed by Rafael Rositsan, Co-Founder and CEO, Smarter Loans, 3 October 2026. Lender terms checked August 2026. Platform figures cover applications from 1 January to 30 June 2026.
Yes. Eleven lenders in our network lend below 560 in Ontario, and four of them set no minimum score.
Ontario applicants under 560 ask for about $1,800 on average. About four in ten are catching up on bills. Figures are from Smarter Loans applications, January to June 2026.
About a quarter of Ontario applicants have a score under 560, which was 4,770 people in six months. Figures are from Smarter Loans applications, January to June 2026.
The federal cap is 35% APR on any consumer loan. Ontario payday loans are capped separately at $14 per $100.
Eight of the eleven lenders pay out within 24 hours of approval, and all eleven within two days.
