100 List Of Bad Credit Loans In Ontario And How To Apply (2024)

Bad credit loans or unsecured loans are short-term fixes for borrowers with bad credit, no credit, or poor credit history. In Ontario, to be termed a bad credit borrower, your credit score needs to be below 600.

To apply for any of the numerous bad credit loan services available in Ontario, you must have a bad credit score of less than 600, be at least 18 years of age and reside within Ontario, have a valid means of identification, active bank account and proof of income.

Contrary to opinions that having bad credits makes you ineligible for loans, there are various agencies that offer bad credit loans services that work in the same way as personal loans where borrowers repay loans in fixed monthly installments. There are several advantages of bad credit loans, some of which are:

• Fast approval
• If repaid on time, it can help you fix your bad credit history by improving your credit score
• You can get it as an unsecured loan that doesn’t require any collateral
• The payment plan is flexible
• Fewer requirements than regular loans

100 List of Bad Credit Loans in Ontario

Ontario is Canada’s most populous province and it definitely has no shortage of bad credit loans. Bad credit loans in Ontario fall under 4 categories; unsecured loans, secured loans, bad credit car loans, and payday loans.

There is no shortage of providers in Ontario, as you must consider various cogent factors before opting for a particular one.

The various categories of bad credit loan providers in Ontario include: online-only lenders, auto loan providers, bad credit specialists, and payday loan companies.

If you are in Ontario with a bad credit score and you are in need of emergency funding to meet up your financial need, here is a list of 100 bad credit loans in Ontario.

1. Fairstone Unsecured Personal Loan
2. Loans Canada
3. Alpine credits
4. FlexMoney Personal Loan
5. Spring Financial Personal loan
6. LoanConnect Personal Loan
7. Mogo Personal Loan
8. Skycap Financial Personal Loan
9. Money Mart Installment Loan
10. CashMoney Installment Loan
11. Loanz personal Loan
12. LendingMate
13. Pay2day
14. Afterpay
15. Ganaraska financial credit union
16. Helium loans
17. Iceberg finance
18. LM Finance
19. Easyfinancial
20. I Need My Money Today
21. iCash
22. quick loan
23. Tribecca Finance Corporation
24. CashCo Official
25. LendDirect
26. Amber Financial
27. MyMoney Coach
28. My Next Pay
29. Dwelling Loans
30. Smarter Loans
31. Prudent Financial Services
32. Loan and Go
33. Magical Credit
34. Ca
35. Crediteck
36. CashGo
37. Canada Lend
38. Ferratum Canada
39. Focus Financial Inc.
40. Better Than The Bank
41. EasternLoans
42. CashClick
43. Smabloan Inc.
44. Lendified
45. FatCat Loans Canada
46. Do Finance
47. Cash 4 You
48. Fast Action Finance Title Loans
49. Money Direct
50. Evolve Financial
51. 710 Loan
52. CashMax
53. Pay Bright
54. Easy Payday Loan
55. Money Financial
56. Canada Wide Financial
57. Borrow with your car
58. Admore financial services
59. Loans Geeks
60. ca
61. The Loan Arranger
62. ca
63. We Loan Money
64. Scarborough Bad Credit Car Loans
65. Rapid Loans
66. Hamilton Bad Credit Car Loans
67. North Bay Payday Loans Co
68. Credit Clob
69. Eazy cash Loan Company
70. Payday Easy Loans Inc.
71. Payday Loans Kanata
72. Finance That
73. Oakville Bad Credit Car Loans
74. LendCare Financial Institution
75. Brantford Payday Loan Co
76. London Bad Credit Car Loans
77. Simply Cash Loan Agency
78. Urgent Money
79. Barrie Auto Credit
80. Kitchener Bad Credit Car Loans
81. Truck Loan Center
82. Mississauga Payday Loans Co
83. Sudbury payday loans Co
84. Drive It Now
85. Commonwealth Loans
86. Donnelly Auto Credit
87. Get Approved Canada
88. Plus
89. Breeze Financial Solutions
90. Accessible Cash
91. Auto Mall Loans
92. BHM Financial Group
93. SJC Financial
94. Canada Powersports Financing
95. 514 Loans
96. Cash Depot
97. Paramount Payday Loans
98. EZ Settlement Loans
99. Credit2go
100. Fast Access Financial

How to Apply for Bad Credit Loans in Ontario

The application process for bad credit loans is usually easier than for regular personal loans. Most Bad credit loans can be easily accessed online while some might require a physical application. The basic requirements needed to apply are:

• You must be at least 18 years of age
• You must have Canadian citizenship and reside in Ontario
• You must have a credit score of less than 600 to be eligible to apply
• You must show proof of income (although, this doesn’t apply to all agencies)
• You must have collateral (typically, most bad credit loans don’t require collateral)
• You must have a valid means of identification
• You must have an active Canadian account

After meeting all of the above requirements (as well as others that might be required by the agency you are applying to), you will go ahead to fill out the application form which will include you entering details of your personal information, details of income, how much you want to borrow, repayment plan and interest rate agreement.

After successful application and approval, you will get your loan credited instantly or at most within 1 or 2 working days.

What is the cost of a bad credit loan in Ontario?

The interest rate of all bad credit loans is usually higher than compared of good credit loans. However, the cost of a bad credit loan in Ontario varies between 15% and 47% per year depending on your credit score, repayment time, lender, type of loan, amount, and several other factors.

Related:

• 100 List Of Small Business Grants In Ontario
• 100 Small Business Loans in Ontario
• 100 List of Student Loans in Ontario
• 100 List Of Student Grants In Ontario
• How To Apply For EI In Ontario?

What is the highest amount I can get from a bad credit loan in Ontario?

Bad credit loans have been made easily accessible to individuals with low credit scores across Ontario. The amount you will be able to borrow from a bad credit loan will depend on if your loan is secured or not. Borrowers with unsecured bad credit loans can get high as $15,000 while those with secured bad credit loans can get as high as $35,000 to $50,000. However, the amount you will be borrowed will also be determined by your credit score. The higher your score, the higher your chances of getting more money.

It is also safe to note that the higher the amount of money you borrow, the higher the interest rate, repayment time, and overall debt load.