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Personal Loans Winnipeg

  • chAccess to over 50 lenders in one place
  • chTransparency in rates & terms
up Last updated

August 26, 2025

up Written by:

Amy Orr

up Reviewed by:

Jenna West

Don’t waste your time trawling through websites and pounding the pavements of Manitoba’s largest city. If you’re looking for a personal loan, everything you need can be found right here. We have scrutinized the market to find the best loan providers and the best loan deals available – you can see them all listed, easy to compare, in the table below. You can apply for a loan directly with any of these lenders, or pre-apply with us, and we’ll do the hard work of finding the right lender for you.

Compare Lenders

AMOUNT
Up to $20,000
INTEREST RATE
19.8% - 34.99%
TERMS
36 months
AMOUNT
$1,000 - $5,000
INTEREST RATE
19.9% - 34.5%
TERMS
12 - 36 months
AMOUNT
$500 - $35,000
INTEREST RATE
9.99% - 34.95%
TERMS
9 - 84 Months
AMOUNT
$150-$1000
INTEREST RATE
30.4% APR
TERMS
30 Days
AMOUNT
$500 - $1,000
INTEREST RATE
Varies
TERMS
3 - 6 months
AMOUNT
$30 - $250
INTEREST RATE
0%
TERMS
N/A
AMOUNT
$20-$500
INTEREST RATE
0%
TERMS
N/A
AMOUNT
$500 - $2,500
INTEREST RATE
18.99%
TERMS
Variable
AMOUNT
$500 - $150,000
INTEREST RATE
9.99% - 34.99%
TERMS
9 - 240 months
AMOUNT
$500 - $25,000
INTEREST RATE
34.56% - 34.95%
TERMS
6 - 84 Months
AMOUNT
$500 - $15,000
INTEREST RATE
34.37%
TERMS
12 - 60 Months
AMOUNT
$1,500 to $10,000
INTEREST RATE
Varies
TERMS
12 - 60 months
AMOUNT
$100 - $20,000
INTEREST RATE
34.37%
TERMS
6 - 84 Months
AMOUNT
$1,000 – $15,000
INTEREST RATE
19.9% - 34.9%
TERMS
Line of Credit
AMOUNT
Up to $250
INTEREST RATE
0% APR (Has Fees)
TERMS
Varies
AMOUNT
$100 - $1,500
INTEREST RATE
Varies
TERMS
2 months

Who’s the best personal loan lender in Winnipeg?

Winnipeg is home to all of the big name banks, but locals are increasingly turning to alternative financial institutions for their personal loans. This is partly because alternative lenders have a broader range of personal loan products to choose from, and partly because a wave of traditional locations (including multiple bank branches) have recently shut in North Winnipeg. But truthfully, given the rise of online loan applications, both alternative and traditional lenders are about equal in terms of physical accessibility.

What they’re not equal on is everything else. Every lender, of every type, has their own suite of loan products. Every lender has their own costs and loan terms, and their own rules about who they’ll lend to. They all also have their own processes, meaning different application systems, requirements, and processing times.

This all means that there is no single lender – or type of lender – that’s “best” for all Winnipeggers. Each has their own pros and cons. So the best lender for you will heavily depend on your priorities, your financial needs, and your financial circumstances at time of applying. You need to take all of this into account when shopping for a personal loan in Winnipeg.

How much can I borrow with a personal loan in Winnipeg?

Personal loans come in all sizes, from tiny cash loans of just $300, to large installment loans of $35,000. The average debt burden in Manitoba is $18,312, and consumers typically hold this debt over a number of loan types, including auto loans, installment loans, credit cards, and lines of credit. The exact level and mix of your existing debts will partly influence how much you can borrow with a new personal loan. Those with few debts are likely to be able to borrow more than those with many debts (assuming all other financial characteristics are the same). But credit score, income and other factors will also influence how much you can borrow.

How do I qualify for a personal loan in Winnipeg?

As mentioned above, every lender in Winnipeg has their own rules about who they will approve for a loan – there are few hard-and-fast rules. All that’s absolutely necessary is that you are:

  • At least 18 years old, with I.D.
  • Able to prove your address
  • In possession of an active bank account

There are of course other factors that lenders can and frequently do consider in loan applications, but these vary from lender to lender. You may be asked about:

  • Your employment status
  • Your income (the median household income in Winnipeg is $80,000)
  • Your existing debts
  • Your assets (65% of Winnipeggers own their home, which on average is worth $379,573)

Documents such as bank statements, payslips, and tax records may be required when you apply, so make sure you understand the requirements of a lender before you start the application process with them.

What credit score do I need to get a personal loan in Winnipeg?

The average credit score in Winnipeg is 661, lower than the national average of 672. However this is still higher than the credit requirements of most personal loan providers, which can range from as low as 560 to as high as 650.

If your credit score is bad (technically this means you have a score of less than 560), you’ll still be able to get a personal loan, but you’ll have to focus on either bad credit loans or no credit check loans (such as payday loans).

What happens if I don’t make my personal loan repayments in Winnipeg?

Although Manitobans carry on average the smallest amount of consumer debt in the country, delinquencies in the province were up by over 10% last year. The rising cost of living and high unemployment (the unemployment rate in Winnipeg is 5.8%, the highest in the province) are making debt repayments unaffordable for many; unfortunately, the consequences of missing a loan payment can be significant. Missing loan payments or defaulting on a loan entirely has a lasting impact on your credit score, can lead to legal action, and if you offered collateral for the loan, you risk it being seized. So making all of your loan payments is key. There is help available if you’re struggling: debt consolidation loans are frequently used to move debt to lower interest vehicles, and local debt counsellors are on hand to help you understand all of your options.

av
writtenWritten by:

Amy Orr

Amy Orr is a professional writer and editor with over 10 years of experience in the Canadian, U.S. and U.K. financial markets. She has written for numerous publications on topics as diverse as economic literacy, corporate finance, and technical analysis of numerical data. Prior to transitioning to full-time writing, she worked in the hedge fund sector. Her academic background is astrophysics, and she has a Masters in Finance from the University of Edinburgh Business School.

av
writtenReviewed by:

Jenna West

Jenna West is Smarter Loans' in-house financial writer and content director. She has been covering the Canadian FinTech and finance industry since 2017, including financial trends analysis, industry surveys, regulatory updates and changes in Canadian consumer behaviour when it comes to finance.

Awesome G.
04:46 26 Feb 25
I’m very honoured to shear my experience with this illustrious platform. To be able to systematically choose from a list optional to one’s profile without doing much leg work is truly rewarding. This platform allowed to expand my options and chose which lenders fit my profile, thank you and continue doing what you do best,, connecting people to available wealth opportunities.
Pat M.
03:10 26 Feb 25
Good place to get a loan
Chris “Stufphr” H.
02:07 26 Feb 25
When you feel in need of a loan do it smart and make it a Smarter Loans.
Dan Bott (.
01:41 26 Feb 25
Very Helpful, was assisted in a timely fashion and was ultimately able to receive assistance; I highly recommend!!!
joel K.
22:59 25 Feb 25
I have recommended this place to many friends I feel that this company goes out of their way to help people that they can and they are very easy to work with
Nate C.
13:22 27 Oct 24
This company is reliable, quick, and just has the best customer service and rates it is a easy process with quick results. Would definitely recommend to anyone that needs the help.
Vincent J.
07:08 23 Oct 24
Good place for borrowing a bit of money 😁
Kels H.
06:41 23 Oct 24
Personally love this opportunity and app. Super convenient and easy to use and super awesome variety of great loans. Thanks so much guys for making such an awesome site and app and being there for me over the years. :)
Tara H.
16:23 16 Oct 24
From beginning to end, my experience was great! Very professional and personable agents. They only asked questions that were needed for the loan and payments were extremely reasonable. Would recommend to anyone who needs emergency funds.
A S.
19:43 11 Oct 24
“ Thank you SO very much! My situation was tricky and you guys made the whole process so effortless. The way you guys handle the whole process so discreetly. That truly speaks to how well your office is run and the caliber of specialists who handled the processing of my entire loan!”

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