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More than a quarter. Of 685 applications from the province on our platform, more than a quarter came from people with a score under 560. Nearly three in ten had no score at all.
| Credit score | Share of applications from the province |
|---|---|
| Under 560 | 27.3% |
| 560 to 659 | 40.0% |
| No score on file | 28.9% |
Smarter Loans platform, 685 personal loan applications from Newfoundland and Labrador, 1 January to 30 June 2026. The 660 and up group is too small to report.
Yes. Applicants under 560 in the province ask for about $1,900 on average. That is more than in any other province on our platform. Across all applicants, one in seven is paying a medical cost, averaging about $1,300.
A larger loan costs more at every rate, so borrow what the bill needs and no more.
Nine of the twelve on the personal loans in Newfoundland and Labrador page, all online. Six pay out within 24 hours, two within the hour, and all nine within two days. Income minimums run from $1,000 to $2,000 a month.
About one in five applicants lives on benefits. The income type you choose decides which lenders see your application. Our application reaches all nine at once.
The federal cap. No consumer loan can charge more than 35% APR, and no lender listed goes above it. A payday loan costs at most $14 per $100 lent and can never be more than half your net pay.
The payday loans in Newfoundland and Labrador page sets out those rules. Every lender we work with that lends below 560 is on the bad credit 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.
Yes. Nine lenders in our network lend below 560 in the province, and all nine lend online.
Applicants under 560 ask for about $1,900 on average, more than in any other province. Figures are from Smarter Loans applications, January to June 2026.
More than a quarter of applicants from the province have a score under 560, and nearly three in ten have none. Figures are from Smarter Loans applications, January to June 2026.
The federal cap is 35% APR. A payday loan is capped at $14 per $100 lent and can never be more than half your net pay.
Six of the nine lenders pay out within 24 hours, two within the hour, and all nine within two days.
