One application. 8 lenders.
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A price cap and a pay limit. Ontario caps the cost at $14 per $100 borrowed. A lender cannot lend you more than half your net pay. A $500 loan costs $70. A $1,500 loan costs $210.
Bills, more than anything. About four in ten Ontario small-loan requests on our platform are to catch up on bills. One in eight is for a medical cost. Almost half are under $500, and the average is about $490.
| Reason | Share of Ontario requests | Average request |
|---|---|---|
| Pay off bills | 39.6% | $500 |
| Other | 27.7% | $432 |
| Medical expenses | 11.9% | $443 |
| Debt consolidation | 5.5% | $617 |
Smarter Loans platform, 12,218 applications from Ontario for $100 to $1,499, 1 January to 30 June 2026.
Eight in our network, every one at the $14 cap. Two pay out within the hour, seven within 24 hours, and all eight within two days. Six set no minimum credit score, and two consider poor credit. Income minimums run from $800 to $2,000 a month. Our application reaches all eight at once.
About a quarter of Ontario applicants live on benefits. Benefits count as income at one of the eight lenders.
When you cannot repay within one pay period. A short-term loan under the 35% federal cap spreads the payments over months. The personal loans in Ontario page lists sixteen lenders, and the bad credit loans in Ontario page lists the eleven that lend below 560. Every payday lender we work with is on the payday loans in Canada page.
Reviewed by Vlad Sherbatov, Co-Founder and President, Smarter Loans, 4 October 2026. Lender terms checked August 2026. Platform figures cover applications from 1 January to 30 June 2026.
Ontario caps it at $14 per $100 borrowed. A $500 loan costs $70.
You can borrow no more than half your net pay, and the lenders listed lend up to $1,500.
Eight lenders in our network do, and seven pay out within 24 hours.
Bills are the top reason, and one in eight requests is for a medical cost. Figures are from Smarter Loans applications, January to June 2026.
Yes. Six of the eight lenders set no minimum score, and the other two consider poor credit.
