Bad Credit Loans - You CAN Get Approved
95% approval rate for Canadians with bad credit. Get $1,000-$50,000 even with bankruptcy, collections, or low credit scores.
Our Approval Promise:
95% of applicants get approved
Even with credit scores under 500, bankruptcy, or consumer proposal!
95% Approval
We approve when banks say no
No Credit Check
Options available without hard inquiry
Rebuild Credit
Improve score with on-time payments
Fast Approval
Get money in 24-48 hours
Having bad credit doesn't mean you're out of options. Bad credit loans are specifically designed for Canadians who have been turned down by traditional banks due to low credit scores, bankruptcy, consumer proposals, or other credit challenges. These lenders understand that past financial difficulties don't define your current ability to repay a loan.
Bad credit loan lenders focus on your current situation - your income, employment stability, and ability to make monthly payments - rather than dwelling on past credit mistakes. With loan amounts from $1,000 to $50,000 and approval rates exceeding 95%, you have genuine access to financing even with poor credit.
We Accept These Credit Situations
How to Rebuild Credit with a Bad Credit Loan
Step 1: Get Approved
Apply for a bad credit loan amount you can comfortably repay - don't overborrow
Step 2: Make Payments On Time
Set up automatic payments to never miss a due date - payment history is 35% of your credit score
Step 3: Watch Your Score Rise
After 6-12 months of consistent payments, expect a 50-150 point credit score increase
Step 4: Access Better Rates
With improved credit, refinance to lower rates or qualify for prime lender loans
Why Bad Credit Loans Cost More
Bad credit loans have higher interest rates (typically 19.99-46.96% vs 9.99-19.99% for good credit) because lenders take on more risk. However, these loans serve an important purpose: they provide access to financing when you need it and offer a path to rebuild your credit.
The goal is to use this loan to rebuild credit, then refinance to better rates within 12-24 months!
What credit score is considered "bad credit" in Canada?
In Canada, credit scores range from 300-900. Generally, under 650 is considered fair/poor, and under 550 is bad credit. However, our lenders work with all scores - even if you're in the 300-500 range or have no score at all. We focus on income, not just credit score.
Can I get a loan while in bankruptcy or consumer proposal?
Yes, but it depends on your situation. If your bankruptcy or consumer proposal has been discharged, you can definitely qualify. If you're currently in an active proposal or bankruptcy, some lenders may still approve you, especially if you have steady income and the trustee approves.
Will applying for a bad credit loan hurt my credit score further?
The initial credit check may cause a small temporary dip (5-10 points), but making on-time payments will improve your score far more. After 6 months of on-time payments, most borrowers see 50-100 point increases. The long-term benefit of rebuilding credit far outweighs the small initial inquiry impact.
How can I improve my chances of approval with bad credit?
To maximize approval odds: (1) Have proof of steady income, (2) Avoid applying for more than you need, (3) Have a Canadian bank account open for 90+ days, (4) Consider a co-signer if possible, (5) Be honest in your application. Lenders appreciate transparency and realistic loan requests.
Overall Approval Rate:
95%
Loan Range:
$1,000 - $50,000
Interest Rates:
19.99% - 46.96% APR
Terms:
6 to 60 months
Approval Rate:
95%
Funding:
24-48 hours
After 6 months:
+50-75 points average
After 12 months:
+75-150 points average
After 24 months:
+100-200 points average
*With consistent on-time payments
Apply for Bad Credit Loan
Get approved regardless of credit score. Start rebuilding your credit today.