- Any credit accepted
- Rates from 6.99%
- Doesn't affect your credit
- Loans up to $50,000
- Re-establish your credit
- Apply once, get multiple options
Provider | Loan Amount | Rate | Term (Months) | Rating | |||
---|---|---|---|---|---|---|---|
0 | 0 | ![]() | Up to $50,000 | Prime – 46.96% | 3 - 120 | ||
8 | 1683676800 | ![]() | $15,000 | 5.95% | Up to 60 months | ||
11 | 1670889600 | ![]() | $1,000 - $10,000 | 19.9% - 46.9% | - | ||
100 | 1666051200 | ![]() | $20 - $100 | 0% | - | ||
100 | 1643932800 | ![]() | $500 - $15,000 | +18.9% APR | 6 - 60 | ||
11 | 1639094400 | ![]() | $1,000 - $15,000 | 29.9% - 46.9% APR | 12 - 60 | ||
7 | 1637280000 | ![]() | $5,000 - $50,000 | 5.75% - 22.99% | Up to 84 | ||
100 | 1623369600 | ![]() | Varies | 0% | 6 or 8 weeks | ||
7 | 1620777600 | ![]() | Up to $35,000 | 9.99% - 46.96% | 6 - 60 | ||
17 | 1607558400 | ![]() | $500 - $50,000 | 6.99% - 46.99% | 12 - 36 | ||
100 | 1598918400 | ![]() | $1,000 - $15,000 | - | - | ||
100 | 1598832000 | ![]() | $500 – $15,000 | + 25.99% | 9 - 60 | ||
100 | 1595980800 | ![]() | $200 - $1,200 | 25% - 32% | - | ||
100 | 1593561600 | ![]() | - | 0+ | 2 - 60 | ||
12 | 1589155200 | ![]() | $2,500 | 15.65% AIR | 13 - 26 | ||
100 | 1582243200 | ![]() | - | - | Up to 60 | ||
100 | 1580947200 | ![]() | - | - | - | ||
9 | 1580860800 | ![]() | $500 - $5,000 | - | 12 - 24 | ||
100 | 1580860800 | ![]() | $350 - $1,000 | - | 2 - 12 weeks | ||
2 | 1580860800 | ![]() | $1,600 - $25,000 | 19.99% APR | 36 - 60 | ||
10 | 1580774400 | ![]() | $1,000 - $25,000 | 7.5% - 31.5% APR | 36 - 60 | ||
100 | 1579478400 | ![]() | $100 - $1,500 | - | - | ||
100 | 1579478400 | ![]() | Up to $3,200 | - | - | ||
100 | 1579219200 | ![]() | $100 - $25,000 | +4.9% | - | ||
100 | 1576713600 | ![]() | - | Up to 35% | - | ||
18 | 1576713600 | ![]() | $500 - $100,000 | 6.99% - 14.99% | 12 - 240 | ||
100 | 1575590400 | ![]() | 1800- 2900 | 15.99% | 23 - 36 | ||
100 | 1562198400 | ![]() | $500 - $15,000 | 15.99 - 39.99% | 6 - 60 | ||
100 | 1560124800 | ![]() | Up to $15,000 | 29.99% - 46.96% | 9 - 60 | ||
9 | 1545955200 | ![]() | Up to $20,000 | 18.99% - 24.99% | 36 - 84 | ||
8 | 1552262400 | ![]() | $1,000 - $15,000 | 19.90% - 46.90% | 12 - 60 | ||
100 | 1569974400 | ![]() | $500 - $50,000 | 15 - 30% | - | ||
100 | 1551830400 | ![]() | $1,000 - $15,000 | 19% - 46.95% | 6 - 60 | ||
100 | 1551398400 | ![]() | Up to $1,500 | 15% - 19% | 14 days | ||
100 | 1551398400 | ![]() | $100 - $1,500 | 15% - 17% | 14 -31 days | ||
100 | 1551398400 | ![]() | $500 - $1,000 | 28% - 32% | - | ||
100 | 1551398400 | ![]() | - | - | 14 days | ||
15 | 1546128000 | ![]() | Up to $5,000 | 19.9% - 45.9% APR | 6 - 36 | ||
100 | 1551139200 | ![]() | $5,000 - $35,000 | 9.9%+ | 6 - 60 | ||
10 | 1551139200 | ![]() | Up to $15,000 | 19.99% APR | Open-end | ||
100 | 1550534400 | ![]() | $300 - $25,000 | 7.95%+ | 36 - 60 | ||
100 | 1550534400 | ![]() | $100 - $1,500 | - | 14 days | ||
100 | 1569974400 | ![]() | Up to $1,500 | 15% - 23% | - | ||
100 | 1550534400 | ![]() | Up to $1,500 | Up to 59% APR | 14 days | ||
19 | 1550534400 | ![]() | $2,500 + | - | - | ||
100 | 1550534400 | ![]() | $500 - $1,000 | 28% - 32% | 3 -5 | ||
100 | 1550534400 | ![]() | $300 - $1,000 | 38% APR | 3 - 4 | ||
100 | 1549238400 | ![]() | $500 - $1,000 | 28% - 32% | 4 - 5 | ||
100 | 1549238400 | ![]() | $250 - $1,000 | 29% APR | 3 - 4 | ||
20 | 1548720000 | ![]() | $500 - $1,000,000 | 7.9% | 12 | ||
100 | 1548720000 | ![]() | Up to $5,000 | - | 12 - 60 | ||
100 | 1548720000 | ![]() | $1,000 - $50,000 | 4.6% – 49.96% | 3 - 60 | ||
100 | 1548633600 | ![]() | $300 - $7,500 | 29.9% - 39.9% | 6 - 60 | ||
100 | 1548633600 | ![]() | $50 - $1,500 | - | 14 days | ||
16 | 1545264000 | ![]() | $2,000 - $10,000 | 18.9% - 54.9% | 12 - 60 | ||
100 | 1545264000 | ![]() | $500 - $10,000 | 12.99% – 39.99% | 9 – 36 | ||
100 | 1545264000 | ![]() | $500 – $10,000 | Starting at 9.90% | 12 - 36 | ||
1 | 1543622400 | ![]() | Up to $50,000 | 19.99% - 39.99% | 6 - 120 | ||
100 | 1545264000 | ![]() | $500 - $12,500 | 19.99%+ | 12 - 60 | ||
100 | 1545350400 | ![]() | Up to $1000 | 30% | 3 - 5 | ||
100 | 1545350400 | ![]() | Up to $5,000 | 60% | 6 - 60 | ||
100 | 1545350400 | ![]() | Up to $7,000 | - | 6 – 60 | ||
100 | 1545350400 | ![]() | $500 - $2,500 | 29% - 46.95% | 6 - 36 | ||
100 | 1545350400 | ![]() | $500 - $1000+ | 28%-32% | 3 | ||
100 | 1545350400 | ![]() | $500 – $750 | 28% – 34.4% | 3 | ||
100 | 1545350400 | ![]() | $500 – $750 | 23% - 34.4% | 3 – 12 | ||
100 | 1545350400 | ![]() | $300 - $1500 | 27% - 35% | 3 - 4 | ||
6 | 1545264000 | ![]() | $500 - $100,000 | Starting at 29.99% | 9 - 84 | ||
4 | 1545264000 | ![]() | $300 – $35,000 | 9.9% - 47.72% | 24 - 60 | ||
5 | 1545177600 | ![]() | $1,000 - $35,000 | 5.99% - 29.19% | 36 - 60 | ||
14 | 1545177600 | ![]() | Up to $20,000 | 19.99% - 46.8% | 12 - 60 | ||
100 | 1569974400 | ![]() | Up to $1,500 | 15% - 23% | 14 days |
Provider | Loan Amount | Rate | Term (Months) | Rating | |||
---|---|---|---|---|---|---|---|
0 | 0 | ![]() | Up to $50,000 | Prime – 46.96% | 3 - 120 | ||
8 | 1669852800 | ![]() | $500 - $300,000 | - | 2 - 24 months | ||
100 | 1648512000 | ![]() | $10,000 - $250,000 | Varies | 6-12 | ||
100 | 1620345600 | ![]() | - | - | 12 - 60 | ||
100 | 1611878400 | ![]() | $5,000 - $30,000,000 | - | Up to 18 | ||
17 | 1607558400 | ![]() | $500 - $50,000 | 6.99% - 46.99% | 6 - 36 | ||
100 | 1598918400 | ![]() | - | - | - | ||
100 | 1592438400 | ![]() | - | - | - | ||
100 | 1585612800 | ![]() | - | 0.9% - 12% | 6 months - 5 years | ||
100 | 1581984000 | ![]() | $10,000 - $10,000,000 | 6% - 12.5% | - | ||
100 | 1581033600 | ![]() | - | - | - | ||
100 | 1581033600 | ![]() | - | - | - | ||
100 | 1581033600 | ![]() | - | - | - | ||
100 | 1580947200 | ![]() | - | - | - | ||
100 | 1580947200 | ![]() | $10,000 - $1,000,000 | - | - | ||
100 | 1580860800 | ![]() | - | - | - | ||
100 | 1580860800 | ![]() | - | - | - | ||
100 | 1580860800 | ![]() | - | - | - | ||
100 | 1580860800 | ![]() | - | - | - | ||
100 | 1580860800 | ![]() | $5,000 - $1,000,000 | - | - | ||
100 | 1580860800 | ![]() | - | - | - | ||
100 | 1580860800 | ![]() | - | - | - | ||
100 | 1580860800 | ![]() | up to $250,000 | - | - | ||
100 | 1580860800 | ![]() | - | - | - | ||
100 | 1580688000 | ![]() | Up to $10,000 | - | - | ||
100 | 1580256000 | ![]() | $5,000 - $500,000 | - | 6 - 18 months | ||
100 | 1579478400 | ![]() | - | - | - | ||
100 | 1579478400 | ![]() | $10,000- $30,000,000 | Min 4.95% | - | ||
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 | ||
100 | 1575849600 | ![]() | Up to $250,000 | - | - | ||
100 | 1575590400 | ![]() | - | - | - | ||
100 | 1575590400 | ![]() | - | - | - | ||
1 | 1545955200 | ![]() | $5,000 - $150,000 | Fee-Based: Starting at 9% | 12 - 60 | ||
100 | 1552262400 | ![]() | $500,000 - $10,000,000 | - | - | ||
100 | 1548720000 | ![]() | Up to $5,000 | Prime +7% or 8% | 36 - 60 | ||
100 | 1552262400 | ![]() | Up to $250,000 | - | Up to 10 years | ||
100 | 1552262400 | ![]() | - | - | - | ||
100 | 1552262400 | ![]() | Up to $1,000,000 | - | - | ||
100 | 1551830400 | ![]() | $10,000+ | - | Up to 15 years | ||
100 | 1551830400 | ![]() | Up to $1,000,000 | - | Up to 15 years | ||
100 | 1551830400 | ![]() | Up to $500,000 | - | Up to 10 years | ||
100 | 1551830400 | ![]() | $5,000 - $10,000 | - | Up to 7 years | ||
100 | 1551398400 | ![]() | $3,500+ | - | - | ||
100 | 1551398400 | ![]() | $10,000 - $1,000,000 | 4% - 14% | 12 - 84 | ||
100 | 1551139200 | ![]() | Up to $75,000 | - | Up to 18 | ||
100 | 1550534400 | ![]() | $500-$50,000 | 0.5% weekly | 12 week cycles | ||
100 | 1550534400 | ![]() | $1,000 - $1,000,000 | 6% - 20% | - | ||
100 | 1550534400 | ![]() | Up to $5,000,000 | 4.5% | 24 - 72 | ||
100 | 1550534400 | ![]() | - | - | - | ||
100 | 1550534400 | ![]() | $5,000 - $200,000 | - | - | ||
100 | 1549411200 | ![]() | $50,000 - $12,000,000 | - | 24 - 96 | ||
100 | 1549411200 | ![]() | $5,000 - $1,000,000+ | - | 1 - 60 | ||
100 | 1549238400 | ![]() | $5,000 - $1,000,000 | - | 3 - 24 | ||
100 | 1548720000 | ![]() | $5,000 - $5,000,000 | - | 4 - 18 | ||
100 | 1548720000 | ![]() | Up to $100,000 | 6.05% + | 60 | ||
100 | 1548720000 | ![]() | $10,000+ | 18% - 22% | - | ||
100 | 1548720000 | ![]() | $10,000 - $300,000 | 4.70% - 5.45% | - | ||
100 | 1548633600 | ![]() | Up to $5,000,000 | 5% - 10% | 12 - 60 | ||
5 | 1545177600 | ![]() | $1,000 - $35,000 | 5.6% – 25.5% | 36 – 60 | ||
100 | 1545264000 | ![]() | $5,000 - $250,000 | - | 3-18 | ||
100 | 1545264000 | ![]() | $5,000 - $150,000 | - | 3 - 24 | ||
100 | 1545350400 | ![]() | $5,000 – $100,000 | 15% + | 12 – 18 | ||
100 | 1545264000 | ![]() | $5,000 – $100,000 | Starting at 6.87% | 3 – 18 | ||
100 | 1545177600 | ![]() | $5,000-$250,000 | 8% - 29% APR | 6 - 18 | ||
100 | 1545177600 | ![]() | $5,000 – $500,000 | Starting at 5.9% | 3 – 60 | ||
100 | 1545264000 | ![]() | $500 - $10,000 | 12.99% – 39.99% | 9 – 36 | ||
100 | 1561507200 | ![]() | Up to $300,000 | - | - |
Provider | Loan Amount | Rate | Term (Months) | Rating | |||
---|---|---|---|---|---|---|---|
0 | 0 | ![]() | Up to $50,000 | Prime – 46.96% | 3 - 120 | ||
4 | 1632960000 | ![]() | Up to $50,000 | 14.9% + | 12 -72 | ||
6 | 1624233600 | ![]() | Up to $50,000 | 29.99% – 46.96% | 12 - 96 | ||
17 | 1607558400 | ![]() | $500 - $50,000 | - | 24 - 60 | ||
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 | ||
100 | 1552262400 | ![]() | Up to $250,000 | - | 12 - 60 | ||
100 | 1552262400 | ![]() | Up to $1,000,000 | - | up to 96 | ||
100 | 1551830400 | ![]() | Up to $100,000 | - | 6 - 96 | ||
100 | 1551830400 | ![]() | $10,000+ | - | 12 - 96 | ||
100 | 1551830400 | ![]() | Up to $1,000,000 | - | up to 96 | ||
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 | ||
100 | 1575849600 | ![]() | - | - | - | ||
100 | 1575590400 | ![]() | - | - | - | ||
100 | 1575590400 | ![]() | - | - | - | ||
100 | 1575504000 | ![]() | - | - | - | ||
100 | 1574985600 | ![]() | - | - | - | ||
2 | 1569974400 | ![]() | $7500 - $59,995 | 3.95% + | 12 - 96 | ||
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 | ||
100 | 1551830400 | ![]() | Up to $30,000 | - | - | ||
100 | 1548720000 | ![]() | - | - | - | ||
100 | 1548633600 | ![]() | - | 4.2%+ | - | ||
100 | 1545264000 | ![]() | $500 - $10,000 | 12.99% – 39.99% | 9 – 36 | ||
100 | 1545177600 | ![]() | Up to $50,000 | - | - | ||
100 | 1545177600 | ![]() | $5,000 – $40,000 | - | 12 – 72 | ||
100 | 1545177600 | ![]() | - | - | Maximum 84 |
Provider | Loan Amount | Rate | Term (Months) | Rating | |||
---|---|---|---|---|---|---|---|
0 | 0 | ![]() | Up to $50,000 | Prime – 46.96% | 3 - 120 | ||
100 | 1578873600 | ![]() | $1,000 - $35,000 | - | 24 - 60 | ||
100 | 1545264000 | ![]() | $500 – $10,000 | Starting at 9.90% | 12 - 36 | ||
100 | 1545264000 | ![]() | Up to $25,000 | - | 12 - 60 |
Provider | Loan Amount | Rate | Term (Months) | Rating | |||
---|---|---|---|---|---|---|---|
0 | 0 | ![]() | N/A | N/A | N/A | ||
100 | 1627344000 | ![]() | - | 1.94% - 2.45% | 12 - 60 | ||
7 | 1620777600 | ![]() | Up to $35,000 | - | - | ||
4 | 1545264000 | ![]() | $300 – $35,000 | 2.20% - 2.54% | 36 - 60 | ||
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 | ||
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 | ||
100 | 1577059200 | ![]() | - | - | - | ||
100 | 1577059200 | ![]() | - | -- | - | ||
100 | 1577059200 | ![]() | - | 2.84% - 7.30% | - | ||
100 | 1574985600 | ![]() | $100,000 - $750,000 | - | 12 - 120 | ||
100 | 1574899200 | ![]() | min 25,000 | 3.89.% - 4.84% | 12 - 60 | ||
100 | 1574899200 | ![]() | - | 2.23% - 4.45% | - | ||
100 | 1560124800 | ![]() | - | 2.89% - 3.79% | - | ||
100 | 1548806400 | ![]() | $10,000 - $1,500,000 | Varies | 12 - 24 | ||
100 | 1548720000 | ![]() | - | 2.41% - 3.84% | - | ||
100 | 1548720000 | ![]() | - | - | - | ||
1 | 1517097600 | ![]() | $10,000+ | Based on equity | - |
Provider | Services | Rating | |||
---|---|---|---|---|---|
0 | 0 | ![]() | Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation | ||
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 |
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:
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.
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.
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.
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.
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.
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.
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.
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:
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.
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:
To apply for a bad credit loan in Alberta, follow these steps:
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.
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.
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.
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.
APR | Monthly Payment | Total Interest | Total Cost |
10% | $87.92 | $54.99 | $1,054.99 |
20% | $92.63 | $111.61 | $1,111.61 |
30% | $97.49 | $169.85 | $1,169.85 |
40% | $102.47 | $229.66 | $1,229.66 |
So, while going with a bad credit loan is okay and often the only choice for many consumers,
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.
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.
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.
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.
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.
If you've been rejected a loan from easyfinancial, you'll be happy to know that there are plenty of easyfinancial loan alternatives in Canada.
When you need to borrow money, there are many options to choose from. But finding the right option can be hard. Let's find out which one is right for ...
If you are looking for loans like Fairstone, you can find them on Loans Canada. These Alternative lenders offer secured and unsecured loans.
Unsecured vs. secured loan: do you know which one is the right option for you? Find out which loan best suits your needs.
Are you struggling to repay your payday loan debt? Check out these payday loan debt relief options in Canada.
Are you struggling to get a loan due to bad credit? Find out what are subprime loans and how you can get one.
Windmill Microlending offers skilled immigrants of any status a 5.95% interest loan to pay for books, certification and career enhancing
Have you recently made Canada your new home? Are you looking for loans to help cover important expenses? Find loans for immigrants in Canada.
An AZ license in Ontario is expensive. Find out if you can get government funding for an AZ license in Ontario.
While Buy Now Pay Later (BNPL) services may be convenient, it does come at a price. Here's what can make BNPL services more expensive than you think.