Bad Credit Loans Alberta

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		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 46.96%	3 - 120	Up to $50,000
8	1683676800		$15,000	5.95%	Up to 60 months	$15,000
11	1670889600		$1,000 - $10,000	19.9% - 46.9%	-	$1,000 - $10,000
100	1666051200		$20 - $100	0%	-	$20 - $100
100	1643932800		$500 - $15,000	+18.9% APR	6 - 60	$500 - $15,000
11	1639094400		$1,000 - $15,000	29.9% - 46.9% APR	12 - 60	$1,000 - $15,000
7	1637280000		$5,000 - $50,000	5.75% - 22.99%	Up to 84	$5,000 - $50,000
100	1623369600		Varies	0%	6 or 8 weeks	Varies
7	1620777600		Up to $35,000	9.99% - 46.96%	6 - 60	Up to $35,000
17	1607558400		$500 - $50,000	6.99% - 46.99%	12 - 36	$500 - $50,000
100	1598918400		$1,000 - $15,000	-	-	$1,000 - $15,000
100	1598832000		$500 – $15,000	+ 25.99%	9 - 60	$500 – $15,000
100	1595980800		$200 - $1,200	25% - 32%	-	$200 - $1,200
100	1593561600		-	0+	2 - 60	-
12	1589155200		$2,500	15.65% AIR	13 - 26	$2,500
100	1582243200		-	-	Up to 60	-
100	1580947200		-	-	-	-
9	1580860800		$500 - $5,000	-	12 - 24	$500 - $5,000
100	1580860800		$350 - $1,000	-	2 - 12 weeks	$350 - $1,000
2	1580860800		$1,600 - $25,000	19.99% APR	36 - 60	$1,600 - $25,000
10	1580774400		$1,000 - $25,000	7.5% - 31.5% APR	36 - 60	$1,000 - $25,000
100	1579478400		$100 - $1,500	-	-	$100 - $1,500
100	1579478400		Up to $3,200	-	-	Up to $3,200
100	1579219200		$100 - $25,000	+4.9%	-	$100 - $25,000
100	1576713600		-	Up to 35%	-	-
18	1576713600		$500 - $100,000	6.99% - 14.99%	12 - 240	$500 - $100,000
100	1575590400		1800- 2900	15.99%	23 - 36	1800- 2900
100	1562198400		$500 - $15,000	15.99 - 39.99%	6 - 60	$500 - $15,000
100	1560124800		Up to $15,000	29.99% - 46.96%	9 - 60	Up to $15,000
9	1545955200		Up to $20,000	18.99% - 24.99%	36 - 84	Up to $20,000
8	1552262400		$1,000 - $15,000	19.90% - 46.90%	12 - 60	$1,000 - $15,000
100	1569974400		$500 - $50,000	15 - 30%	-	$500 - $50,000
100	1551830400		$1,000 - $15,000	19% - 46.95%	6 - 60	$1,000 - $15,000
100	1551398400		Up to $1,500	15% - 19%	14 days	Up to $1,500
100	1551398400		$100 - $1,500	15% - 17%	14 -31 days	$100 - $1,500
100	1551398400		$500 - $1,000	28% - 32%	-	$500 - $1,000
100	1551398400		-	-	14 days	-
15	1546128000		Up to $5,000	19.9% - 45.9% APR	6 - 36	Up to $5,000
100	1551139200		$5,000 - $35,000	9.9%+	6 - 60	$5,000 - $35,000
10	1551139200		Up to $15,000	19.99% APR	Open-end	Up to $15,000
100	1550534400		$300 - $25,000	7.95%+	36 - 60	$300 - $25,000
100	1550534400		$100 - $1,500	-	14 days	$100 - $1,500
100	1569974400		Up to $1,500	15% - 23%	-	Up to $1,500
100	1550534400		Up to $1,500	Up to 59% APR	14 days	Up to $1,500
19	1550534400		$2,500 +	-	-	$2,500 +
100	1550534400		$500 - $1,000	28% - 32%	3 -5	$500 - $1,000
100	1550534400		$300 - $1,000	38% APR	3 - 4	$300 - $1,000
100	1549238400		$500 - $1,000	28% - 32%	4 - 5	$500 - $1,000
100	1549238400		$250 - $1,000	29% APR	3 - 4	$250 - $1,000
20	1548720000		$500 - $1,000,000	7.9%	12	$500 - $1,000,000
100	1548720000		Up to $5,000	-	12 - 60	Up to $5,000
100	1548720000		$1,000 - $50,000	4.6% – 49.96%	3 - 60	$1,000 - $50,000
100	1548633600		$300 - $7,500	29.9% - 39.9%	6 - 60	$300 - $7,500
100	1548633600		$50 - $1,500	-	14 days	$50 - $1,500
16	1545264000		$2,000 - $10,000	18.9% - 54.9%	12 - 60	$2,000 - $10,000
100	1545264000		$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1545264000		$500 – $10,000	Starting at 9.90%	12 - 36	$500 – $10,000
1	1543622400		Up to $50,000	19.99% - 39.99%	6 - 120	Up to $50,000
100	1545264000		$500 - $12,500	19.99%+	12 - 60	$500 - $12,500
100	1545350400		Up to $1000	30%	3 - 5	Up to $1000
100	1545350400		Up to $5,000	60%	6 - 60	Up to $5,000
100	1545350400		Up to $7,000	-	6 – 60	Up to $7,000
100	1545350400		$500 - $2,500	29% - 46.95%	6 - 36	$500 - $2,500
100	1545350400		$500 - $1000+	28%-32%	3	$500 - $1000+
100	1545350400		$500 – $750	28% – 34.4%	3	$500 – $750
100	1545350400		$500 – $750	23% - 34.4%	3 – 12	$500 – $750
100	1545350400		$300 - $1500	27% - 35%	3 - 4	$300 - $1500
6	1545264000		$500 - $100,000	Starting at 29.99%	9 - 84	$500 - $100,000
4	1545264000		$300 – $35,000	9.9% - 47.72%	24 - 60	$300 – $35,000
5	1545177600		$1,000 - $35,000	5.99% - 29.19%	36 - 60	$1,000 - $35,000
14	1545177600		Up to $20,000	19.99% - 46.8%	12 - 60	Up to $20,000
100	1569974400		Up to $1,500	15% - 23%	14 days	Up to $1,500

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 46.96%	3 - 120	Up to $50,000
8	1669852800		$500 - $300,000	-	2 - 24 months	$500 - $300,000
100	1648512000		$10,000 - $250,000	Varies	6-12	$10,000 - $250,000
100	1620345600		-	-	12 - 60	-
100	1611878400		$5,000 - $30,000,000	-	Up to 18	$5,000 - $30,000,000
17	1607558400		$500 - $50,000	6.99% - 46.99%	6 - 36	$500 - $50,000
100	1598918400		-	-	-	-
100	1592438400		-	-	-	-
100	1585612800		-	0.9% - 12%	6 months - 5 years	-
100	1581984000		$10,000 - $10,000,000	6% - 12.5%	-	$10,000 - $10,000,000
100	1581033600		-	-	-	-
100	1581033600		-	-	-	-
100	1581033600		-	-	-	-
100	1580947200		-	-	-	-
100	1580947200		$10,000 - $1,000,000	-	-	$10,000 - $1,000,000
100	1580860800		-	-	-	-
100	1580860800		-	-	-	-
100	1580860800		-	-	-	-
100	1580860800		-	-	-	-
100	1580860800		$5,000 - $1,000,000	-	-	$5,000 - $1,000,000
100	1580860800		-	-	-	-
100	1580860800		-	-	-	-
100	1580860800		up to $250,000	-	-	up to $250,000
100	1580860800		-	-	-	-
100	1580688000		Up to $10,000	-	-	Up to $10,000
100	1580256000		$5,000 - $500,000	-	6 - 18 months	$5,000 - $500,000
100	1579478400		-	-	-	-
100	1579478400		$10,000- $30,000,000	Min 4.95%	-	$10,000- $30,000,000
100	1579478400		-	-	12 - 120	-
100	1579478400		-	-	24 to 60	-
100	1579478400		-	-	-	-
100	1579478400		-	-	-	-
100	1579046400		-	-	-	-
100	1578873600		-	-	-	-
100	1577059200		-	-	-	-
100	1577059200		-	-	-	-
100	1577059200		-	-	-	-
100	1575849600		$5,000 - $150,000	15% +	6 - 24	$5,000 - $150,000
100	1575849600		Up to $250,000	-	-	Up to $250,000
100	1575590400		-	-	-	-
100	1575590400		-	-	-	-
1	1545955200		$5,000 - $150,000	Fee-Based: Starting at 9%	12 - 60	$5,000 - $150,000
100	1552262400		$500,000 - $10,000,000	-	-	$500,000 - $10,000,000
100	1548720000		Up to $5,000	Prime +7% or 8%	36 - 60	Up to $5,000
100	1552262400		Up to $250,000	-	Up to 10 years	Up to $250,000
100	1552262400		-	-	-	-
100	1552262400		Up to $1,000,000	-	-	Up to $1,000,000
100	1551830400		$10,000+	-	Up to 15 years	$10,000+
100	1551830400		Up to $1,000,000	-	Up to 15 years	Up to $1,000,000
100	1551830400		Up to $500,000	-	Up to 10 years	Up to $500,000
100	1551830400		$5,000 - $10,000	-	Up to 7 years	$5,000 - $10,000
100	1551398400		$3,500+	-	-	$3,500+
100	1551398400		$10,000 - $1,000,000	4% - 14%	12 - 84	$10,000 - $1,000,000
100	1551139200		Up to $75,000	-	Up to 18	Up to $75,000
100	1550534400		$500-$50,000	0.5% weekly	12 week cycles	$500-$50,000
100	1550534400		$1,000 - $1,000,000	6% - 20%	-	$1,000 - $1,000,000
100	1550534400		Up to $5,000,000	4.5%	24 - 72	Up to $5,000,000
100	1550534400		-	-	-	-
100	1550534400		$5,000 - $200,000	-	-	$5,000 - $200,000
100	1549411200		$50,000 - $12,000,000	-	24 - 96	$50,000 - $12,000,000
100	1549411200		$5,000 - $1,000,000+	-	1 - 60	$5,000 - $1,000,000+
100	1549238400		$5,000 - $1,000,000	-	3 - 24	$5,000 - $1,000,000
100	1548720000		$5,000 - $5,000,000	-	4 - 18	$5,000 - $5,000,000
100	1548720000		Up to $100,000	6.05% +	60	Up to $100,000
100	1548720000		$10,000+	18% - 22%	-	$10,000+
100	1548720000		$10,000 - $300,000	4.70% - 5.45%	-	$10,000 - $300,000
100	1548633600		Up to $5,000,000	5% - 10%	12 - 60	Up to $5,000,000
5	1545177600		$1,000 - $35,000	5.6% – 25.5%	36 – 60	$1,000 - $35,000
100	1545264000		$5,000 - $250,000	-	3-18	$5,000 - $250,000
100	1545264000		$5,000 - $150,000	-	3 - 24	$5,000 - $150,000
100	1545350400		$5,000 – $100,000	15% +	12 – 18	$5,000 – $100,000
100	1545264000		$5,000 – $100,000	Starting at 6.87%	3 – 18	$5,000 – $100,000
100	1545177600		$5,000-$250,000	8% - 29% APR	6 - 18	$5,000-$250,000
100	1545177600		$5,000 – $500,000	Starting at 5.9%	3 – 60	$5,000 – $500,000
100	1545264000		$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1561507200		Up to $300,000	-	-	Up to $300,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 46.96%	3 - 120	Up to $50,000
4	1632960000		Up to $50,000	14.9% +	12 -72	Up to $50,000
6	1624233600		Up to $50,000	29.99% – 46.96%	12 - 96	Up to $50,000
17	1607558400		$500 - $50,000	-	24 - 60	$500 - $50,000
100	1594339200		-	-	-	-
100	1582761600		-	-	12 - 96	-
6	1582761600		-	11.9% - 22.9%	Up to 84	-
100	1581033600		-	+ 4.9%	-	-
100	1581033600		-	-	-	-
100	1580688000		-	-	-	-
100	1579478400		-	-	-	-
100	1579478400		-	-	-	-
100	1579478400		-	-	-	-
100	1578873600		-	+8.99%	-	-
100	1578873600		-	-	-	-
100	1551830400		$5,000 - $10,000	-	up to 84	$5,000 - $10,000
100	1552262400		Up to $250,000	-	12 - 60	Up to $250,000
100	1552262400		Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1551830400		Up to $100,000	-	6 - 96	Up to $100,000
100	1551830400		$10,000+	-	12 - 96	$10,000+
100	1551830400		Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1577059200		-	-	up to 72	-
100	1577059200		-	-	-	-
100	1575849600		-	Starting at 4%	Up to 84	-
100	1575849600		$5000 - $45,000	4.90 % - 29.95% APR	36 - 72	$5000 - $45,000
100	1575849600		-	-	-	-
100	1575590400		-	-	-	-
100	1575590400		-	-	-	-
100	1575504000		-	-	-	-
100	1574985600		-	-	-	-
2	1569974400		$7500 - $59,995	3.95% +	12 - 96	$7500 - $59,995
100	1562112000		-	Up to 49.9%	-	-
100	1561507200		-	-	-	-
100	1561507200		-	-	Up to 84	-
1	1560124800		Up to $100,000	3.99% - 19.9%	24 -96	Up to $100,000
100	1551830400		Up to $30,000	-	-	Up to $30,000
100	1548720000		-	-	-	-
100	1548633600		-	4.2%+	-	-
100	1545264000		$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1545177600		Up to $50,000	-	-	Up to $50,000
100	1545177600		$5,000 – $40,000	-	12 – 72	$5,000 – $40,000
100	1545177600		-	-	Maximum 84	-

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 46.96%	3 - 120	Up to $50,000
100	1578873600		$1,000 - $35,000	-	24 - 60	$1,000 - $35,000
100	1545264000		$500 – $10,000	Starting at 9.90%	12 - 36	$500 – $10,000
100	1545264000		Up to $25,000	-	12 - 60	Up to $25,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		N/A	N/A	N/A	N/A
100	1627344000		-	1.94% - 2.45%	12 - 60	-
7	1620777600		Up to $35,000	-	-	Up to $35,000
4	1545264000		$300 – $35,000	2.20% - 2.54%	36 - 60	$300 – $35,000
100	1581033600		-	2.74% - 6.30%	12 - 120	-
100	1580947200		-	-	-	-
100	1580860800		-	-	-	-
100	1580860800		-	2.64% - 4.45%	12 - 120	-
100	1580860800		$50,000+	2.74% - 3.49%	12- 120	$50,000+
100	1580860800		-	-	36 - 60	-
100	1580860800		-	-	-	-
100	1580860800		-	-	-	-
100	1580688000		-	2.79% - 6.00%	6 - 60	-
100	1579478400		-	2.74% - 3.70%	6 - 120	-
100	1578873600		-	-	-	-
100	1578873600		-	2.69% - 3.95%	6 - 120	-
100	1577059200		$25,000 - $800,000	4.59% - 5.64%	6 - 60	$25,000 - $800,000
100	1577059200		-	-	-	-
100	1577059200		-	--	-	-
100	1577059200		-	2.84% - 7.30%	-	-
100	1574985600		$100,000 - $750,000	-	12 - 120	$100,000 - $750,000
100	1574899200		min 25,000	3.89.% - 4.84%	12 - 60	min 25,000
100	1574899200		-	2.23% - 4.45%	-	-
100	1560124800		-	2.89% - 3.79%	-	-
100	1548806400		$10,000 - $1,500,000	Varies	12 - 24	$10,000 - $1,500,000
100	1548720000		-	2.41% - 3.84%	-	-
100	1548720000		-	-	-	-
1	1517097600		$10,000+	Based on equity	-	$10,000+

		Provider	Services	Rating
0	0		Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation	N/A (Referrer)
100	1576540800		Credit Counselling, Bankruptcy, Consumer Proposal
100	1576540800		Credit Counselling, Debt Management Program
100	1576368000		Credit Counselling, Debt Management Program
100	1576454400		Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring

Where Can You Get A Bad Credit Loan In Alberta?

Banks and credit unions may not be the best options for borrowers with bad credit. Luckily, there are several other alternatives to consider if you’re applying for a loan with bad credit in Alberta:

Online Lenders

While online lenders often look at your credit score when determining your ability to secure a loan, they don’t rely as heavily on it. Instead, they’ll place more emphasis on other factors, such as your income and assets. If your income is adequate, you may still get approved for a loan with bad credit when you apply online.

Payday Lenders

These short-term lenders typically base their approval on your income and employment more than your credit score. In fact, many payday lenders don’t conduct credit checks at all. As long as your income can support the loan repayment, you shouldn’t have to worry about your credit score when applying.

No Credit Check Lenders

Some lenders do not conduct a credit check on applicants. Whether you have bad credit or no credit at all, you can still get approved for a loan with a no credit check lender, as long as your income is sufficient.

Bad Credit Lenders

Some lenders specialize in offering bad credit loans. In other words, their loans are designed specifically for consumers with bad credit. If your credit scores are low, you may have much better luck applying for a loan with a bad credit lender than with a conventional loan provider.

What’s Considered As Bad Credit In Alberta? 

Now that you know there are loan options for those with bad credit in Alberta, how do you know if you have bad credit or not? Well, there is no official or exact credit score that is considered bad in Alberta, as all lenders have their own rules as to which credit scores are acceptable and which are not. However, in general, credit scores lower than 600 are considered bad. 

Can You Get A Bad Credit Loan In Alberta With No Bank Verification?

Lenders in Alberta typically require loan applicants to have an active bank account as part of the criteria for approval. For starters, it gives the lender the chance to see what your cash reserves are like. The more money you have in the bank, the less of a risk you may be. 

Further, the lender may want to automatically withdraw funds to cover the loan payments, which they can’t do if you don’t have a bank account. 

However, some lenders may approve loan applications for borrowers who don’t have an active bank account. A “no bank verification” loan means the lender does not require borrowers to have a bank account for loan approval.

As the name suggests, you won’t have to provide the lender with documentation showing that you have a bank account. All you typically need is proof of income, and in some cases, you may need collateral.

However, it’s important to keep in mind that these types of loans are not commonly offered. And when they are, they’re usually more expensive than loans from conventional lenders.  

Can You Get A Bad Credit Loan In Alberta With No Refusal?

If you have bad credit, a “no refusal” loan may be easier for you to get approved for. As the name suggests, you cannot be refused a loan because of bad credit. No matter what your credit score is, it should not be a deterrent for loan approval, as long as other factors check out.

For instance, lenders who offer “no refusal” loans will want to ensure that your income is strong enough for you to make timely loan payments until the loan is fully repaid. If you have a healthy, steady income, you may be able to secure a no refusal loan in Alberta and get access to the funds shortly after approval, often within 24 hours.

Can You Get A Bad Credit Loan In Alberta With Instant Approval?

Traditional lenders usually take days or longer to approve a loan application. But many types of alternative lenders approve loans within minutes following application submission. 

The exact amount of time you need to wait will depend on the lender. For instance, some lenders may offer instant pre-approval, while others may offer same-day approval.

Not only can you get near-instant notification of loan approval, but the funds will also be deposited in your account or e-transferred to you shortly after.

Even with bad credit, you can still get an instant approval for certain types of loans, such as the following:

• Payday loans
• Pawn shop loans
• Cash advance loans

If you’re in desperate need of fast cash to cover an urgent expense, a bad credit loan in Alberta with instant approval can be a huge help. Just keep in mind that these loans can be very expensive and often require the funds to be fully repaid, along with interest, within a short period of time. 

Documents Required For A Bad Credit Loan In Alberta

In addition to completing the lender’s application form, you’ll also need to submit certain documents to support your application. Some of the common documents required to apply for a bad credit loan in Alberta include:

• Personal identification, such as a driver’s license or passport.
• Income and employment, such as a letter of employment or pay stubs.
• Statement of assets, such as bank or investment statements. 

Steps On How To Apply For A Bad Credit Loan In Alberta

To apply for a bad credit loan in Alberta, follow these steps:

Step 1. Compare Lenders And Choose One To Apply With 

Shop around to see what different lenders offer and where you can get the lowest rate. You can do a quick comparison by using an online loan aggregator, which will populate a list of lenders and their loan products offered.

To get the most accurate offers based on your specific financial profile, get pre-qualified first. There’s no credit check involved, so you don’t have to worry about your score taking a hit. Pre-qualification simply involves providing the lender with specific information about your financial health to help the lender come up with an offer tailored to you.  

Based on the offers listed on the online loan aggregator’s site, choose one that offers the best deal.

Step 2. Fill Out the Application And Provide The Requested Documents

Complete the lender’s online application form, ensuring that you fill out all sections and that all information is accurate. You’ll also need to provide specific documents, as outlined earlier, along with the application form according to the lender’s requirements. 

Step 3. Submit And Wait For A Loan Offer

Once you’ve completed the application form, submit it to the lender and wait for notification of approval. Online lenders typically approve loan applications very quickly, usually within a day or two. In some cases, you may get approved the same day. Conventional lenders usually take much longer to provide a response. 

Along with loan approval, the lender will provide you with a formal offer that will include details of the loan, such as the interest rate and fees. 

Step 4. Accept Loan Offer And Receive Your Funds

If you’re pleased with the offer, accept it by signing the loan agreement. You should receive the funds shortly after. Online lenders typically send loaned funds direct deposit to your bank account or e-transfer.

How Much Does A Bad Credit Loan In Alberta

How To Increase Your Chances Of Getting Bad Credit Loan?

So, while going with a bad credit loan is okay and often the only choice for many consumers, 

Improve Your Credit 

Depending on the urgency of your financing needs, you should consider improving your credit before applying. The higher your credit score, the higher your chances of qualifying for a loan and securing lower interest rates. 

Get A Co-signer

Asking someone you trust, who has good credit, to cosign a loan for you can open up so many more financial doors. A cosigner with good credit can provide you with the financial stability and creditworthiness you need to get approved.

Pay Down Debt

Paying down debt will help improve your debt-to-income ratio, which is a common factor used by lenders to determine creditworthiness. The lower the ratio, the more income you’ll have to put toward the new loan, thus increasing your chances of approval.

Apply With An Alternative Lender

Lenders that don’t do credit checks or ones that specifically deal with individuals that have bad credit are both great options. Furthermore, there are countless online lenders who don’t check credit and who work with a wide range of individuals in Alberta, regardless of past credit mistakes.

Additional Reading

How To Get Student Loans For Bad Credit Approved In Canada

Personal Loan Eligibility Requirments For Bad Credit Lenders

Can You Get A Loan With No Credit Score?

Bad Credit Loans Alberta FAQs

Bottom Line

If you are struggling with bad credit and are worried about qualifying for a loan, you can breathe a sigh of relief. There are several different borrowing options for those with bad credit in Alberta. 

Keep in mind that you should always treat bad credit lending products as a way to work on improving your credit score. So make sure your lender reports to one of Canada’s two credit bureaus.