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British Columbia Residents: iCash offers payday loans in British Columbia (license number: 67639)

Ontario Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $500 loan of 14 days, the total cost of borrowing is $70, with a total payback amount of $570 and an APR of 365%. On a loan of 62 days, the APR is 82.42%.

Manitoba Residents: To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 1-204-945-3800 or 1-800-782-0067 or at www.manitoba.ca/cca/cpo

Nova Scotia Residents: Payday loans are High Cost Loans. The maximum allowable cost of borrowing under the payday loan agreement is 14$ per every 100$ received, which means on a 100$ loan for 14 days, the total cost of borrowing is 14$, with total payback amount of 114$ and an APR of 365.00%.

PEI Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $300 loan of 14 days, the total cost of borrowing is $42, with a total payback amount of $342 and an APR of 365.00%. On a loan of 62 days, the APR is 82.42%.

The Cashback Program and Refer a Friend Program are not available in Manitoba, British Columbia and New Brunswick.

A Guide To Getting A Loan Nova Scotia

Lisa
Author:
Lisa
Lisa Rennie
Senior Contributor at Loans Canada
Lisa has worked as a personal finance writer for over a decade, creating unique content to help educate Canadian consumers. Expertise:
  • Personal finance
  • Real estate
  • Mortgage financing
  • Investing
Priyanka
Reviewed By:
Priyanka
Priyanka Correia, BComm
Senior Editor at Loans Canada
As a senior member of the Loans Canada team, Priyanka Correia is committed to empowering Canadians with the knowledge they need to make smart financial choices.
Expertise:
  • Personal finance
  • Consumer borrowing
  • Consumer banking
  • Debt management
📅
Updated On: August 21, 2025
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Looking for the perfect loan in Nova Scotia? Whether you’re buying a home, starting a business, or need to cover an unexpected expense, several loan options are available to choose from. Read on to explore your choices and get the funding you need.


Types Of Loans You Can Get

If you’re in need of funding, consider the following popular loan options in Nova Scotia:

Personal Loans

A personal loan is an installment loan that provides a lump sum of money that is repaid in fixed installments over a set term, along with interest. The funds can be used for just about any purpose, including car repairs, home upgrades, or debt consolidation.

Loan Amount$500 — $35,000+
Interest Rate9.99% — 35% 
Loan Terms3 months — 5 years

Learn more: Best Personal Loans In Canada

Lines Of Credit

A line of credit is a revolving type of financing that allows you to access funds from a credit account, up to a certain limit. You can tap into the account as often as needed and only pay interest on what you borrow. Once you repay the funds, you can borrow them again and again, as long as you stay within your limit. 

Learn more: How Does A Line Of Credit Work?

No-Interest Loans

Some financial apps offer small, no-interest cash advances with no credit check, including the following:

BreeBree’s cash advances are available for up to $500 with no credit check or interest charged.
MoneyUpMoneyUp’s FastForward feature is an instant line of credit of up to $1,000 with no interest. 
NybleNyble’s interest-free credit line is available for up to $250, which can also be used to build good credit, thanks to payments being reported to the credit bureaus.
KOHO CoverKOHO Cover is an instant cash advance of up to $250 with no interest rates. A small subscription fee applies.

Payday Loans

Payday loans are popular among consumers with bad credit who need immediate funding for small amounts. These loan types are unique in that they’re generally repaid in one lump sum rather than in installments. 

Keep in mind that payday loans are very expensive, can be difficult to pay back in full by the due date, and can lead to a cycle of debt if you’re not careful.

Loan AmountUp to $1,500
Interest Rate$14 per $100 borrowed
Loan TermsUp to 62 days

Learn more: How To Get Payday Loans In Nova Scotia


Thinking About Taking Out A Loan? Here’s What Lenders Expect

Loan requirements vary by loan type and lender. That said, here are the more common criteria lenders may expect:

  • Residency: You must live in Nova Scotia if applying for a loan with a lender in the province.
  • Income: Lenders will assess your income level to ensure you earn enough to cover your loan payments.
  • Employment: Most lenders require you to be employed for at least a few months, though some lenders — like payday lenders — may accept non-employment sources of income, like pensions and Employment Insurance (EI) benefits.
  • Debt-To-Income (DTI) Ratio: Lenders measure your DTI ratio to ensure your income is sufficient to cover loan payments on top of your existing bills.
  • Credit Check: Many lenders conduct a credit check to verify your credit score, though some lenders don’t, like payday lenders.

Can I Get A Loan With Bad Credit?

Yes, you can get a loan with bad credit, but your options may be limited, and you’ll pay higher interest rates. Lenders that specialize in bad credit loans often require collateral or a co-signer to reduce their risk. 

It’s important to compare offers from different lenders and understand the terms before committing. Remember, borrowing with bad credit will be more expensive, so you may want to take time to improve your credit score first.

Learn more: How To Get A Bad Credit Loan In Nova Scotia


How To Find A Reputable Lender In Nova Scotia

Many fraudulent lenders in Nova Scotia are out to scam consumers with offers of large loans and ultra-low interest rates with minimal criteria to meet. These deals are likely too good to be true, in which case you should walk away. 

Visit this link to find a list of licensed lenders in Nova Scotia. 

Are You A Victim Of Loan Fraud?

If you’re dealing with loan fraud, notify the following parties:
– Your bank
– Your credit card issuers
– Local police
– Both credit reporting bureaus
– Any other party that has have your personal or financial information

Also contact Service Nova Scotia:
– Mail:
Service Nova Scotia and Municipal Relations
Mail Room, 8 South, Maritime Centre
1505 Barrington Street
Halifax, Nova Scotia
B3J 3K5
– Telephone: 902-424-5200 / 1-800-670-4357
– Email: askus@gov.ns.ca
– Website: www.gov.ns.ca/snsmr/access/individuals/consumer-awareness.asp

Where Can I Apply For A Loan In Person?

Alternative lenders are typically available online only. However, there are still several lenders with physical storefronts you can visit to apply for a loan, in Nova Scotia, like the following:

Fairstone– 7071 Bayers Rd., Suite 282, Halifax, NS B3L 2C2
– 19A – 114 Woodlawn Rd., Dartmouth, NS B2W 2T3
– 201 Churchill Dr., Suite 301, Sydney, NS B1S 0H1
– 68 Robie St., Unit 187, Truro, NS B2N 1L2

Find a Fairstone branch near you.
easyfinancial– 6140 Young Street, Halifax, NS B3K 0G2- 264 Baker Drive, Dartmouth, NS B2W 6L4- 245 Robie St, Truro, NS B2N 5N6- 720 Sackville Dr, Lower Sackville, NS B4E 1R7

Find an easyfinancial branch near you.
LendDirect– 3480 Joseph Howe Dr suite 402, Halifax, NS B3L 0B5
– 3095 Robie St, Halifax, NS B3K 4P7
– 1475 Bedford Hwy Suite 202, Bedford, NS B4A 3Z5
– 644 Portland St #14, Dartmouth, NS B2W 2M3

Find a LendDirect branch near you.
Money Mart– 278 Lacewood Drive, Unit 112, Halifax, NS B3M3N8
– 109 Robie Street, Truro, NS B2N1K8
– 119 Woodlawn Road, Dartmouth, NS B2W2T3
– 325 Prince St, Unit 100, Sydney, NS B1P5K6

Find a Money Mart branch near you.

How Do I Apply For A Loan In Nova Scotia?

Follow these steps when you’re ready to apply for a loan:

Step 1: Check Your Credit Score. It’s helpful to know your credit score before applying for a loan to see what your qualification strengths are., You can quickly check your score for free using Loans Canada’s CompareHub tool.

Step 2: Research Lenders. Compare different lenders and loan options for interest rates, terms, and eligibility. Loans Canada makes it easy to quickly scan lenders and compare their offers side-by-side based on your financial and credit situation.

Step 3: Apply. Fill out the lender’s application form, either online or in person. Then, submit your application along with the required documents for review. In many cases, lenders will use instant bank verification to verify your income and identity, instead of documents

Step 4: Get Funded. If you’re approved, carefully review the loan terms and conditions. Then, sign the agreement if you agree with the terms. The loan funds will be sent to you via direct deposit or e-transfer.


Can I Get Guaranteed Loan Approval?

Legitimate lenders will not guarantee approval for a loan without first assessing your financial health. That said, there are things you can do to boost your odds of loan approval:

  • Add A Cosigner: If you’re struggling to get approved for a loan on your own, consider asking a trusted friend or family member to cosign, especially if they have better credit or income.
  • Work With The Right Lender: Select a lender that matches your financial situation. Some lenders are more flexible, while others have stricter guidelines. Finding the right lender is key to getting the best loan for you.
Is bad credit getting in the way of loan approval?
If you can’t get a loan because of your bad credit score, make an effort to improve it before applying for a loan.  You can do this by using credit-building products like secured credit cards or savings loans. Or, if you rent, consider using these payments to build credit with the help of services like Chexy

Consider These Factors Before Applying For A Loan 

Before applying for a loan, make sure to take these factors into consideration first:

Is Taking Out A Loan A Good Idea Right Now?

Taking out a loan means adding more debt to the pile. Sop, you should only apply for financing when the need justifies the added debt. Here are a few scenarios where taking out a loan might make sense: 

  • You Need Access To Funds Quickly: If you have an emergency expense that can’t wait, but funds are low, then a loan might be worth considering.
  • Take Advantage Of Opportunities: You may want to secure funding for opportunities like investment opportunities.
  • Consolidate Debt: If you’re carrying a lot of high-interest debt, a loan at a lower rate can help you pay off these debts so you can save money and simplify payments.

Should You Compare Offers?

Comparing loan offers helps you find the lowest interest rates and best terms, saving you money over the life of the loan. It also ensures you choose a lender that fits your financial situation, so you can be more confident that you’ll meet their requirements.

Loans Canada makes it easy to compare lenders and their loan offers. Simply plug in your personal information and details of your financial health, and Loans Canada will quickly populate of list of available lenders.

Do You Have A Bank Account?

Lenders typically require that you have a bank account when applying for a loan. Having a bank account is essential for instant bank verification (IBV) because it allows lenders to quickly and securely verify your financial information, such as income and account activity, streamlining the approval process. This ensures faster loan decisions and helps lenders quickly and securely assess your ability to repay the loan.

Fortunately, opening a bank account is quick and easy. And while many accounts require a monthly fee, many others are free, such as the following:

  • Simplii™ No-Fee Chequing Account
  • Neo Everyday Account
  • Tangerine No-Fee Daily Chequing Account
  • EQ Bank Savings Plus Account

Learn more: Where Can You Get Free Bank Accounts In Canada?


Bottom Line

Several loan options are available in Nova Scotia if you’re in need of extra cash. But the option to choose depends on your needs and financial situation. Be sure to do a little research first to prepare for loan application and choose the right lender and loan that’s best suited for you. 


FAQs

Is a credit check necessary for a loan in Nova Scotia?

While some lenders may request a credit check as part of the loan application process, others may not. It depends on your lender and their loan qualification standards. Just remember that each hard inquiry performed by a potential lender will drop your credit score by a few points.

Can I get a bad credit loan in Nova Scotia?

Yes, there are many bad credit loan providers in Nova Scotia who provide financing to borrowers with bad credit. Some may even provide financing options to those who’ve had previous bankruptcies or delinquencies. These lenders often base your creditworthiness on your overall financial health rather than your credit score.

Can I get a loan in Nova Scotia if I’m unemployed?

Yes, you can still get a loan in Nova Scotia even if you’re unemployed. However, you’ll still need a source of income. Many online lenders are willing to provide financing to those who have a non-traditional source of income, including Canada Child Benefits (CCB), Canada Pension Plan (CPP), Employment Insurance (EI) and other government benefits.

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