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Nine in the Smarter Loans network, the same nine that serve the rest of the province on the bad credit loans in Alberta page, and every one considers a score under 560: six consider poor credit as a matter of course, three set no minimum score at all. All nine lend online, so nothing depends on an Edmonton branch. Amounts run from $15 advances to $35,000 instalment loans, rates from 0% on the smallest advances up to the 35% federal cap, six of the nine pay out within 24 hours, and income minimums run from $1,000 to $2,000 a month from any regular source.
Your bank deposits. The lenders listed read three months of statements through your online banking login before they read the score: regular income arriving on a predictable day, and an account without returned payments, is what they are looking for. The label you give your income decides which lenders see the application at all, so know whether you are full-time, self-employed, on disability or on benefits and say so. Some lenders use a soft inquiry that does not affect your score and decide on the statements alone.
A rate toward the top of a lender's range, which for a poor score often means between 32% and 35%. Alberta's high-cost credit regulation treats any credit at 32% APR or more as high-cost credit, and every lender offering it in the province must hold an Alberta high-cost credit licence and give you the total cost of borrowing in dollars before you sign. That licence is a protection, and it is worth asking any lender quoting above 32% for its number. On $5,000 over 36 months, the difference between 20% and 35% is roughly $1,450 in interest, which is why a loan repaid cleanly for a year and then refinanced at a rate that reflects the new score is the route out.
Every lender in the network that lends below 560 is on the bad credit loans in Canada page.
Reviewed by Rafael Rositsan, Co-Founder and CEO, Smarter Loans. Last reviewed 22 September 2026. Lender figures are the lenders' published terms as checked August 2026; the cost example is illustrative.
Yes. Nine lenders in the Smarter Loans network lend below 560 in Edmonton, three with no minimum score at all, from $15 to $35,000. The decision is made on your bank deposits more than your score, and six of the nine pay out within 24 hours.
Toward the top of a lender's range, often between 32% and 35% for a poor score. Above 32% the lender must hold an Alberta high-cost credit licence and disclose the total cost of borrowing before you sign.
At least $1,000 to $2,000 a month depending on the lender, from any regular source that arrives on a fixed date. Regularity matters more than the amount.
No. All nine lenders listed lend online; the application, the decision and the deposit happen from your phone.
Twelve clean months on a loan that reports to the bureaus, revolving balances brought down, and no new credit in the months before you refinance. A loan taken at 35% and repaid on time is refinanced at a rate that reflects the new score.
