Find the Direct Lenders for Bad Credit

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3 easy steps

Follow these steps & get approved!

Fill out the form

Share your basic personal information on our short form.

Instant Bank Verification

Perform instant bank verification without a credit check.

Receive your money!

Sign the contract and receive the money directly in your bank account.

Join thousands of satisfied Canadians!

Very good service. The loan search process is much easier (and above all faster) thanks to the easy-to-use platform.

Alex

Thetford Mines

Thank you for advising me on a debt consolidation loan! My monthly payments have dropped by almost $200!!!

John Smith

Toronto

I only have positive reviews for this company. I recommend anyone who needs a quick loan to try them. Also, the customer service is excellent.

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Montreal

I am impressed by the efficiency of the service but especially the great rate that I was offered! I recommend 100%!

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Ottawa

Quick and easy! They answered all my questions/concerns and guided me to the best possible option.

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Vancouver

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FAQ

What is a direct lender?

A direct lender is a financial institution or lender that provides loans or credit directly to borrowers, without intermediaries such as brokers or third-party companies. They have the authority to make lending decisions and fund loans using their own capital or funds. Direct lenders can be traditional banks, online lenders, credit unions, or alternative lending platforms. By eliminating the need for intermediaries, direct lenders often have more control over the loan process, including the application, approval, and disbursement stages. This direct relationship between the lender and borrower allows for greater transparency, efficiency, and potentially faster access to funds. Additionally, direct lenders typically have their own underwriting criteria and may offer more personalized loan options tailored to the specific needs of borrowers.

What is a bad credit in Canada?

In Canada, bad credit refers to a person’s credit history that shows a pattern of late or missed payments, high levels of debt, defaults, bankruptcies, or other negative financial behaviors. Creditworthiness is assessed by credit bureaus, such as Equifax and TransUnion, based on factors like payment history, credit utilization, length of credit history, types of credit, and recent credit applications. A low credit score, typically below a certain threshold (such as 600 or 650), is often an indicator of bad credit. Having bad credit can make it challenging for individuals to obtain loans, credit cards, or favorable interest rates since lenders may perceive them as higher-risk borrowers. It’s important for individuals with bad credit to take steps to improve their creditworthiness over time, such as paying bills on time, reducing debt, and responsibly managing credit.

Can I get a loan while in a consumer proposal?

While in a consumer proposal, it can be more difficult to obtain a loan due to the negative impact on your credit rating. Traditional lenders may be less willing to approve loans, but alternative lenders, including some online and private institutions, may consider lending to individuals in a consumer proposal. However, these loans often come with higher interest rates and stricter terms. It is important to seek advice from a financial advisor or credit counselor to explore all options, understand the potential implications, and ensure that any loan obtained is manageable within your financial circumstances.

Can you ever get a loan with bad credit?

Yes, it is possible to get a loan with bad credit, although it can be more challenging. Traditional lenders such as banks may be hesitant to approve loans for individuals with bad credit due to the perceived higher risk. However, there are alternative lenders, including online lenders and specialized lending institutions, that cater specifically to individuals with poor credit histories. These lenders are often more willing to consider other factors such as income and employment stability when evaluating loan applications. It’s important to note that loans for bad credit usually come with higher interest rates and stricter terms. It’s advisable to carefully review the terms, consider the affordability of the loan, and explore options for improving your credit over time.

When will I receive the money?

In general, once your loan application has been approved and your contract signed, you can receive the funds by Interac transfer in less than 24 hours.

What is the annual interest rate (APR) of your loans?

The APR (or annual interest rate) of the loans offered by our partners varies depending on your financial situation.

Do you need a good credit score?

No! Our partners check your creditworthiness using IBV (Instant Bank Verification) technology and therefore do not need to check your credit rating during the process.