One application. 16 lenders.
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About $6,000, and more for bigger plans. Paying off bills is the most common reason, at about a third of requests and about $4,800. More than one in five is consolidating debt, at about $8,200. Starting a business brings the largest requests, at about $10,200.
| Purpose | Average requested | Share of Ontario applications |
|---|---|---|
| Start a business | $10,215 | 2.1% |
| Debt consolidation | $8,164 | 21.4% |
| Home improvement | $8,050 | 3.2% |
| Pay off bills | $4,769 | 33.0% |
Smarter Loans platform, 6,222 personal loan applications from Ontario for $1,500 to $35,000, 1 January to 30 June 2026.
Fair, most often. More than four in ten score between 560 and 659. More than one in five is under 560, and fewer than one in ten has 660 or more. Eleven of the sixteen lenders consider poor credit or set no minimum score.
Lenders offering lines of credit and installment loans, from $15 advances to $35,000. Rates run from 0% up to the 35% federal cap. Three pay out within the hour, ten within 24 hours, and all sixteen within two days. Five want a fair score or better.
Income minimums run from $1,000 to $2,500 a month, and about two in three applicants work full-time. Our application reaches all sixteen at once. Toronto and Brampton have their own pages: personal loans in Toronto and personal loans in Brampton.
The federal cap and Ontario's payday rules. No consumer loan can charge more than 35% APR, and no lender listed goes above it. A payday loan is regulated separately at $14 per $100, and the payday loans in Ontario page sets out those rules.
The bad credit loans in Ontario page lists the eleven lenders that lend below 560. Every personal lender we work with is on the personal loans in Canada page.
Reviewed by Rafael Rositsan, Co-Founder and CEO, Smarter Loans, 4 October 2026. Lender terms checked August 2026. Platform figures cover applications from 1 January to 30 June 2026.
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Sixteen lenders in our network serve Ontario, lending $15 to $35,000. Ten pay out within 24 hours.
Ontarians ask for about $6,000 on average, and about $8,200 to consolidate debt. Figures are from Smarter Loans applications, January to June 2026.
Yes. A fair score is the most common among Ontario applicants, and eleven of the sixteen lenders consider poor credit. Figures are from Smarter Loans applications, January to June 2026.
The federal cap is 35% APR on any consumer loan, and no lender listed goes above it.
Toronto and Brampton have their own pages, and Ottawa has one for bad credit loans.
