One application. 16 lenders.
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Sixteen in the Smarter Loans network, the same sixteen that serve the rest of the province on the personal loans in Ontario page, from $15 advances to $35,000 instalment loans at rates from 0% on the smallest fee-priced advances up to the 35% federal cap. Every one lends online, so the application, the decision and the deposit happen from your phone and nothing depends on a Toronto branch. Ten of the sixteen pay out within 24 hours and all sixteen within two days; eleven consider a score under 560 and five want a fair score or better; income minimums run from $1,000 to $2,500 a month from any regular source.
On our platform in the first half of 2026, Ontarians asked for $6,005 on average for a personal loan and $476 for an everyday advance under $1,500. Use those to check your own request: a personal loan around $6,000 is the ordinary case, a request far above your income pushes you toward the top of a lender's range or a decline, and one well under $1,500 is an everyday advance, priced by fee rather than APR.
The same two that protect every Ontarian. The federal criminal interest rate caps every consumer loan at 35% APR, so no lender listed can price above it. A payday loan is regulated separately by the province: $14 per $100, no more than half your net pay, two business days to cancel, from a lender licensed under the Payday Loans Act, and the payday loans in Ontario page sets those rules out in full. Toronto adds no rule of its own to either; what decides your cost is which product you are routed to, and that is decided by whether you can repay on your next pay date.
Every personal lender in the network is on the personal loans in Canada page, and the eleven that lend below 560 are on the bad credit loans in Ontario page.
Reviewed by Rafael Rositsan, Co-Founder and CEO, Smarter Loans. Last reviewed 24 September 2026. Lender figures are the lenders' published terms as checked August 2026. Platform figures cover applications from 1 January to 30 June 2026.
Sixteen in the Smarter Loans network serve Toronto, the same sixteen that serve all of Ontario, from $15 to $35,000 at 0% to 35%. Ten pay out within 24 hours and all sixteen within two days.
On our platform in the first half of 2026, Ontarians asked for $6,005 on average for a personal loan and $476 for an everyday advance under $1,500.
Yes. Eleven of the sixteen lenders listed consider a score under 560, and the decision is made on three months of bank statements more than on the score; a poor score is priced toward the 35% cap rather than declined.
The federal cap is 35% APR on every consumer loan, and no lender listed prices above it. A payday loan is priced separately under Ontario's rules at $14 per $100.
No. Every lender listed lends online; the application, the decision and the deposit happen from your phone, and ten of the sixteen pay out within 24 hours.
