Best Loans for Bad Credit in Canada (2026)

Bad credit loans can help you borrow money when a bank says no, but they usually cost more.

If your credit score is low, you may still qualify through online lenders, loan search platforms, secured loans, lines of credit, or small cash advances.

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1. KOHO

With KOHO Cover, you can:

• Get up to $250 as an instant cash advance (amount depends on eligibility)

• Pay no interest on the advance

• Avoid a credit check

• Repay automatically once you add money or get paid

You subscribe to the Cover bundle for a low monthly fee, and in return you get the advance feature plus extras like a credit report, financial coaching, and priority support.

2. Loans Canada

With Loans Canada, you can:

• Search for personal loans from $500 to $35,000

• See APRs that generally range from 9.99% to 35%

• Choose loan terms between 6 months and 5 years

3. LoanConnect

With LoanConnect, you can:

• Search a network of Canadian lenders

• Borrow between $500 and $60,000

• See APRs from 8.99% to 35%

• Choose repayment terms from 3 to 120 months

• Apply with no impact to your credit score

4. easyfinancial

With easyfinancial, you can:

• Apply for a personal loan if your credit score is low

• Get loan repayment terms from 9 to 240 months

• See APRs between 9.99% and 35%

• Apply even if a traditional bank is not an option

• Potentially get approved within minutes, depending on eligibility

5. Spring Financial

With Spring Financial, you can:

• Apply for personal loans up to $35,000

• See APRs from 9.99% to 35.00%

• Choose loan terms from 6 to 84 months

• Apply online for a loan with different credit profiles

What To Remember Before Choosing a Bad Credit Loan

Bad credit loans can help when you need money and have trouble getting approved by a bank. But they can also be expensive, especially if the rate is high or the repayment term is long.

Before you borrow, compare the full cost. Look at the APR, fees, repayment schedule, and total amount you will pay back. A fast approval may sound helpful, but it is only a good option if the payments fit your budget.

The best option is the one you can repay comfortably without making your money situation harder. Take your time, compare your choices, and only borrow what you truly need.