CREDIT BUILDING

Bad Credit Loans

Compare borrowing options designed for people with fair, poor, thin-file, or rebuilding credit profiles.

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RateBuddy bad credit loan picks insight
RateBuddy bad credit loan picks insight

Compare bad credit loan picks with cost and repayment fit in mind

The best bad credit loan is not simply the fastest approval. A stronger option should be reviewed around APR, fees, repayment timing, lender requirements, credit bureau reporting, and whether the payment fits your budget.

Review the bad credit loan picks below, then compare total cost, repayment flexibility, eligibility, and credit-building features before starting an application.

Best Bad Credit Loan Picks

Compare selected loan options for fair, poor, thin-file, or rebuilding credit profiles.

Receive funds as soon as the same day. No impact on your credit score to apply.
sponsored featured
Spring Financial Personal Loan
RateBuddy
Google
Trustpilot
Est. APR
9.99% - 34.95%
Amount
$500 - $35k
Terms
6 - 84 Mo
Credit Fit
All Credit Types
Fast Approval
Online Application
Bad Credit Considered
Get approved and receive funds by e-transfer
Skip the branch visits
Approval as soon as the same day
Min Income: $20k/yr
Origination: 0.00%
Funding Time: As soon as the same day
All credit levels welcome. Get approved and receive funds by e-transfer. Apply online or by text, no in-person appointments are needed. Applying doesn’t affect credit.
Receive funds as soon as the same day. No impact on your credit score to apply.
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range 9.99% - 34.95%
Loan Amounts $500 - $35,000
Available Terms 6 to 84 months
Application Fee Varies
Origination Fee No origination fee
Admin/Flat Fee Varies
Funding Time As soon as the same day
Eligibility Requirements
Minimum Income $20,000/yr
Credit Score Required No Minimum
Minimum Age 19 years old
Residency Status Varies by lender
Included Features
Fast Approval Online Application Bad Credit Considered Get approved and receive funds by e-transfer Skip the branch visits Approval as soon as the same day
Highlights & Pros
  • Receive funds as soon as the same day
  • Accessible to all credit scores with no impact to check your rate
  • No branch visits or appointments required; 100% online
Things to Consider
  • Maximum APR can reach up to 35.00% depending on creditworthiness
  • Higher rates than traditional big bank loans for some borrowers

Legal Disclaimer: *Spring Financial Inc. provides loans up to $35,000 with interest rates ranging from 9.99% to 34.95%, and APRs ranging from 9.99% to 35.00%, with terms from 6 to 84 months. Your actual rate will depend on a variety of factors such as your credit score and the loan amount. An example of borrowing costs paid on a $5,000 loan with a 48 month term at 9.99% APR is a Weekly payment of $29.17, with the total repayment amount of principal and interest being $6,066.48 and the total cost of the loan (interest only) being $1,066.48. Eligibility is based upon income and other qualification requirements, including a credit check. Some conditions may apply. Applying for a loan does not guarantee you will be approved for a loan. The time between loan approval and transfer of funds may vary.

Get immediate pre-qualification and an estimated rate with no impact to your credit score.
sponsored
goPeer Auto Loan
RateBuddy
Trustpilot
Est. APR
8.99% - 34.99%
Amount
$1k - $35k
Terms
36 - 60 Mo
Credit Fit
Fair (600+)
No Collateral Required
Online Application
Flexible Repayment Options
No Early Repayment Penalty
Weekly/Bi-weekly Payments
Lump-Sum Prepayments Allowed
Online Account Management
Soft Credit Check for Pre-approval
Min Income: $35k/yr
Funding Time: 5 Days
Borrow from real Canadians, not big banks — with a quick online pre-qualification that won’t impact your credit score.
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range 8.99% - 34.99%
Loan Amounts $1,000 - $35,000
Available Terms 36 to 60 months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time 5 Days
Eligibility Requirements
Minimum Income $35,000/yr
Credit Score Required 600
Minimum Age 18 years old
Residency Status Foreign Worker (Work Permit)
Included Features
No Collateral Required Fast Approval Online Application Flexible Repayment Options No Early Repayment Penalty Weekly/Bi-weekly Payments Lump-Sum Prepayments Allowed Online Account Management Soft Credit Check for Pre-approval Skip the branch visits
Highlights & Pros
  • Check your rate without affecting your credit score. Pre-qualify with a soft credit check to view your estimated rate and eligibility before deciding whether to complete a full application.
  • Competitive peer-to-peer lending model. goPeer connects eligible borrowers with Canadian investors, offering a modern alternative to traditional bank and high-cost lending options.
  • No collateral required. Borrow from $1,000 to $35,000 through an unsecured personal loan without pledging your home, vehicle, or other assets.
  • No penalty for paying early. Make additional payments or repay the entire loan early without prepayment fees, giving you more control over interest costs.
  • Clear, fully online experience. Apply online, review your personalized offer and see the applicable rate and fees before accepting the loan.
Things to Consider
  • An origination fee applies. The one-time origination fee is included in the disclosed APR and deducted from the loan proceeds, so the amount deposited will be lower than the approved loan amount.
  • Eligibility standards may be stricter. Approval depends on factors such as credit history, income, existing debt and overall ability to repay, making goPeer better suited to borrowers with established credit.
  • Only two repayment terms are available. Loans currently come with either a three-year or five-year term, which provides less term flexibility than some lenders.

Representative Example: For example, the average borrowing cost paid on a $10,000 unsecured personal loan at an APR of 19.99%, with a 3-year term and weekly payments of $85.36 is $3,301.20.

Legal Disclaimer: Legal Disclaimer: *goPeer offers unsecured personal loans in Canada from $1,000 to $35,000, with 3- or 5-year terms and APRs ranging from 8.99% to 34.99%. Your actual rate, loan amount, and eligibility depend on your credit profile, income, debt-to-income ratio, province, and goPeer’s underwriting criteria. Minimum requirements include being 18+, a Canadian resident, having a Canadian bank account, a 600+ credit score, annual income of at least $35,000, debt-to-income ratio below 35%, no bankruptcy within the past 12 months, and at least 3 credit trades. Pre-qualification does not impact your credit score, but applying does not guarantee approval or funding. Fees may apply, including an origination fee included in the APR and applicable missed or unsuccessful payment fees. Once approved and accepted, loans are listed for investor funding, and funds are typically advanced within 1–4 business days after funding. Conditions apply.

Receive funds as soon as the same day. No impact on your credit score to apply.
sponsored featured
Spring Financial Auto Loan
RateBuddy
Google
Trustpilot
Est. APR
8.99% - 34.95%
Amount
Up to $75k
Terms
Up to 180 Mo
Credit Fit
All Credit Types
Fast Approval
Online Application
Bad Credit Considered
Get approved and receive funds by e-transfer
Skip the branch visits
Min Income: $20k/yr
Origination: 0.00%
Funding Time: As soon as the same day
All credit levels welcome. Get approved and receive funds by e-transfer. Apply online or by text, no in-person appointments are needed. Applying doesn’t affect credit.
Receive funds as soon as the same day. No impact on your credit score to apply.
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range 8.99% - 34.95%
Loan Amounts $0 - $75,000
Available Terms N/A to 180 months
Application Fee Varies
Origination Fee No origination fee
Admin/Flat Fee Varies
Funding Time As soon as the same day
Eligibility Requirements
Minimum Income $20,000/yr
Credit Score Required No Minimum
Minimum Age 19 years old
Residency Status Varies by lender
Included Features
Fast Approval Online Application Bad Credit Considered Get approved and receive funds by e-transfer Skip the branch visits
Highlights & Pros
  • Receive funds as soon as the same day
  • Accessible to all credit scores with no impact to check your rate
  • No branch visits or appointments required; 100% online
Things to Consider
  • Maximum APR can reach up to 35.00% depending on creditworthiness
  • Higher rates than traditional big bank loans for some borrowers

Legal Disclaimer: *Spring Financial Inc. provides loans up to $75,000 with interest rates ranging from 9.99% to 34.95%, and APRs ranging from 9.99% to 35.00%, with terms from 6 to 84 months. Your actual rate will depend on a variety of factors such as your credit score and the loan amount. An example of borrowing costs paid on a $5,000 loan with a 48 month term at 9.99% APR is a Weekly payment of $29.17, with the total repayment amount of principal and interest being $6,066.48 and the total cost of the loan (interest only) being $1,066.48. Eligibility is based upon income and other qualification requirements, including a credit check. Some conditions may apply. Applying for a loan does not guarantee you will be approved for a loan. The time between loan approval and transfer of funds may vary.

Get immediate pre-qualification and an estimated rate with no impact to your credit score.
sponsored
goPeer Personal Loan
RateBuddy
Trustpilot
Est. APR
8.99% - 34.99%
Amount
$1k - $35k
Terms
36 - 60 Mo
Credit Fit
Fair (600+)
No Collateral Required
Online Application
Flexible Repayment Options
No Early Repayment Penalty
Weekly/Bi-weekly Payments
Lump-Sum Prepayments Allowed
Online Account Management
Soft Credit Check for Pre-approval
Min Income: $35k/yr
Funding Time: 5 Days
Borrow from real Canadians, not big banks — with a quick online pre-qualification that won’t impact your credit score.
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range 8.99% - 34.99%
Loan Amounts $1,000 - $35,000
Available Terms 36 to 60 months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time 5 Days
Eligibility Requirements
Minimum Income $35,000/yr
Credit Score Required 600
Minimum Age 18 years old
Residency Status Foreign Worker (Work Permit)
Included Features
No Collateral Required Fast Approval Online Application Flexible Repayment Options No Early Repayment Penalty Weekly/Bi-weekly Payments Lump-Sum Prepayments Allowed Online Account Management Soft Credit Check for Pre-approval Skip the branch visits
Highlights & Pros
  • Check your rate without affecting your credit score. Pre-qualify with a soft credit check to view your estimated rate and eligibility before deciding whether to complete a full application.
  • Competitive peer-to-peer lending model. goPeer connects eligible borrowers with Canadian investors, offering a modern alternative to traditional bank and high-cost lending options.
  • No collateral required. Borrow from $1,000 to $35,000 through an unsecured personal loan without pledging your home, vehicle, or other assets.
  • No penalty for paying early. Make additional payments or repay the entire loan early without prepayment fees, giving you more control over interest costs.
  • Clear, fully online experience. Apply online, review your personalized offer and see the applicable rate and fees before accepting the loan.
Things to Consider
  • An origination fee applies. The one-time origination fee is included in the disclosed APR and deducted from the loan proceeds, so the amount deposited will be lower than the approved loan amount.
  • Eligibility standards may be stricter. Approval depends on factors such as credit history, income, existing debt and overall ability to repay, making goPeer better suited to borrowers with established credit.
  • Only two repayment terms are available. Loans currently come with either a three-year or five-year term, which provides less term flexibility than some lenders.

Representative Example: For example, the average borrowing cost paid on a $10,000 unsecured personal loan at an APR of 19.99%, with a 3-year term and weekly payments of $85.36 is $3,301.20.

Legal Disclaimer: Legal Disclaimer: *goPeer offers unsecured personal loans in Canada from $1,000 to $35,000, with 3- or 5-year terms and APRs ranging from 8.99% to 34.99%. Your actual rate, loan amount, and eligibility depend on your credit profile, income, debt-to-income ratio, province, and goPeer’s underwriting criteria. Minimum requirements include being 18+, a Canadian resident, having a Canadian bank account, a 600+ credit score, annual income of at least $35,000, debt-to-income ratio below 35%, no bankruptcy within the past 12 months, and at least 3 credit trades. Pre-qualification does not impact your credit score, but applying does not guarantee approval or funding. Fees may apply, including an origination fee included in the APR and applicable missed or unsuccessful payment fees. Once approved and accepted, loans are listed for investor funding, and funds are typically advanced within 1–4 business days after funding. Conditions apply.

Get immediate pre-qualification and an estimated rate with no impact to your credit score.
sponsored featured top pick
goPeer Personal Line of Credit
RateBuddy
Trustpilot
Est. APR
8.99% - 34.99%
Amount
$1k - $35k
Terms
36 - 60 Mo
Credit Fit
Fair (600+)
No Collateral Required
Online Application
Flexible Repayment Options
No Early Repayment Penalty
Weekly/Bi-weekly Payments
Lump-Sum Prepayments Allowed
Online Account Management
Soft Credit Check for Pre-approval
Min Income: $35k/yr
Funding Time: 5 Days
Borrow from real Canadians, not big banks — with a quick online pre-qualification that won’t impact your credit score.
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range 8.99% - 34.99%
Loan Amounts $1,000 - $35,000
Available Terms 36 to 60 months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time 5 Days
Eligibility Requirements
Minimum Income $35,000/yr
Credit Score Required 600
Minimum Age 18 years old
Residency Status Foreign Worker (Work Permit)
Included Features
No Collateral Required Fast Approval Online Application Flexible Repayment Options No Early Repayment Penalty Weekly/Bi-weekly Payments Lump-Sum Prepayments Allowed Online Account Management Soft Credit Check for Pre-approval Skip the branch visits
Highlights & Pros
  • Check your rate without affecting your credit score. Pre-qualify with a soft credit check to view your estimated rate and eligibility before deciding whether to complete a full application.
  • Competitive peer-to-peer lending model. goPeer connects eligible borrowers with Canadian investors, offering a modern alternative to traditional bank and high-cost lending options.
  • No collateral required. Borrow from $1,000 to $35,000 through an unsecured personal loan without pledging your home, vehicle, or other assets.
  • No penalty for paying early. Make additional payments or repay the entire loan early without prepayment fees, giving you more control over interest costs.
  • Clear, fully online experience. Apply online, review your personalized offer and see the applicable rate and fees before accepting the loan.
Things to Consider
  • An origination fee applies. The one-time origination fee is included in the disclosed APR and deducted from the loan proceeds, so the amount deposited will be lower than the approved loan amount.
  • Eligibility standards may be stricter. Approval depends on factors such as credit history, income, existing debt and overall ability to repay, making goPeer better suited to borrowers with established credit.
  • Only two repayment terms are available. Loans currently come with either a three-year or five-year term, which provides less term flexibility than some lenders.

Representative Example: For example, the average borrowing cost paid on a $10,000 unsecured personal loan at an APR of 19.99%, with a 3-year term and weekly payments of $85.36 is $3,301.20.

Legal Disclaimer: Legal Disclaimer: *goPeer offers unsecured personal loans in Canada from $1,000 to $35,000, with 3- or 5-year terms and APRs ranging from 8.99% to 34.99%. Your actual rate, loan amount, and eligibility depend on your credit profile, income, debt-to-income ratio, province, and goPeer’s underwriting criteria. Minimum requirements include being 18+, a Canadian resident, having a Canadian bank account, a 600+ credit score, annual income of at least $35,000, debt-to-income ratio below 35%, no bankruptcy within the past 12 months, and at least 3 credit trades. Pre-qualification does not impact your credit score, but applying does not guarantee approval or funding. Fees may apply, including an origination fee included in the APR and applicable missed or unsuccessful payment fees. Once approved and accepted, loans are listed for investor funding, and funds are typically advanced within 1–4 business days after funding. Conditions apply.

Nyble Personal Loan
Est. APR
0%
Amount
$30 - $250
Terms
Varies
Credit Fit
All Credit Types
Online Application
Flexible Repayment Options
Bad Credit Considered
Credit Bureau Reporting
Funds Deposited within 24h
Min Income: $12k/yr
0% Interest. Optional $11.99/mo membership for instant funding and identity protection.
No impact to your credit score
0% Interest. Optional $11.99/mo membership for instant funding and identity protection.
Rates, Fees & Terms
Rate Type Fixed
APR Range 0%
Loan Amounts $30 - $250
Available Terms N/A to N/A months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time Varies
Eligibility Requirements
Minimum Income $12,000/yr
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Varies by lender
Included Features
Online Application Flexible Repayment Options Bad Credit Considered Credit Bureau Reporting Funds Deposited within 24h
Nyble Credit Building Line
Est. APR
0%
Amount
$30 - $250
Terms
Varies
Credit Fit
All Credit Types
Online Application
Flexible Repayment Options
Bad Credit Considered
Credit Bureau Reporting
Funds Deposited within 24h
Min Income: $12k/yr
0% Interest. Optional $11.99/mo membership for instant funding and identity protection.
No impact to your credit score
0% Interest. Optional $11.99/mo membership for instant funding and identity protection.
Rates, Fees & Terms
Rate Type Fixed
APR Range 0%
Loan Amounts $30 - $250
Available Terms N/A to N/A months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee Varies
Funding Time Varies
Eligibility Requirements
Minimum Income $12,000/yr
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Varies by lender
Included Features
Online Application Flexible Repayment Options Bad Credit Considered Credit Bureau Reporting Funds Deposited within 24h
KOHO Cover
Est. APR
0.00%
Amount
Up to $250
Terms
Varies
Credit Fit
All Credit Types
Fast Approval
Online Application
Flexible Repayment Options
Online Account Management
Soft Credit Check for Pre-approval
Funds Deposited within 24h
Free Credit Report
Guaranteed Approval
Origination: $0.00
Funding Time: As soon as the same day
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range 0.00%
Loan Amounts $0 - $250
Available Terms N/A to N/A months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee No additional flat fee
Funding Time As soon as the same day
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Varies by lender
Included Features
Fast Approval Online Application Flexible Repayment Options Online Account Management Soft Credit Check for Pre-approval Funds Deposited within 24h Free Credit Report Guaranteed Approval
Highlights & Pros
  • No annual, late, or origination fees
  • Applying does not impact your credit score
  • Only pay interest on the amount of credit you actually use
Things to Consider
  • Only available to residents of AB, ON, NB, SK, NS, and BC
  • Requires a KOHO account/membership
KOHO line of credit
Est. APR
19.90%
Amount
$1k - $15k
Terms
Varies
Credit Fit
All Credit Types
Fast Approval
Online Application
Online Account Management
Soft Credit Check for Pre-approval
Origination: $0.00
Funding Time: As soon as the same day
No impact to your credit score
Rates, Fees & Terms
Rate Type Fixed
APR Range 19.90%
Loan Amounts $1,000 - $15,000
Available Terms N/A to N/A months
Application Fee Varies
Origination Fee Varies
Admin/Flat Fee No additional flat fee
Funding Time As soon as the same day
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Varies by lender
Included Features
Fast Approval Online Application Online Account Management Soft Credit Check for Pre-approval
Highlights & Pros
  • No annual, late, or origination fees
  • Applying does not impact your credit score
  • Only pay interest on the amount of credit you actually use
Things to Consider
  • Only available to residents of AB, ON, NB, SK, NS, and BC
  • Requires a KOHO account/membership

Payment Reality Check

Bad credit loans carry higher rates. Adjust the sliders below to see exactly what your monthly commitment will be before you apply.

$
$500$15,000
%
8.99%46.96%
mos
6 mos60 mos

Your Est. Payment

$167.31

per month

Principal Interest
$3,000 $1,015
Total Cost to Borrow: $4,015.44

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