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How You Can Get Bad Credit Loans in Canada?

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(Credit: How You Can Get Bad Credit Loans in Canada?) How You Can Get Bad Credit Loans in Canada?
April 27
3:08 PM 2021

It can happen to any one of us: your bills become too much for you, and you need a sudden influx of cash to bail yourself out. And maybe you do, but your credit is still slipping further and further down. Before you know it, you have what they call "bad" credit, and you worry that you won't be approved for a loan ever again.

But that certainly is not true. There are plenty of institutions out there that approve people for loans even if they have bad credit. There has to be some outlet for everyone out there. Making a few financial mistakes in the past shouldn't bar you from righting the wrongs and moving on.

How can you get the best loans for bad credit in Canada? We'll help you out by naming a few places that do it well.

LoanConnect

Ah, brokers. They're lovely, aren't they? When done right, they're hubs for connecting lenders and borrowers so they can do business, and that's exactly what Canada's LoanConnect does. You can apply for a loan there for up to $50,000 in just minutes and receive those funds the very same day! The good news is that you can request the amount you need without having to consider your credit score. This is a resource meant for everyone, so you don't have to feel excluded if your credit isn't the best.

iCash

Next up is iCash, a lender that really understands the heart of the consumer. This company doesn't see bad credit as a rightful obstacle to getting funding that you need in a hurry. Past mistakes? We've all made them. Finances in a bit of a pickle? It happens. iCash offers bad credit loans in Canada, getting cash to people quickly after approval. You can get approved 24 hours a day and 7 days a week. And, of course, good credit is not a requirement.

Loan Away

Finally, we have Loan Away, which operates in Ontario, Alberta, and Newfoundland. You can get a personal loan from Loan Away for up to $5,000, and the requirements are the furthest thing from draconian. You have to be at least 18 years old, a Canadian citizen, have no pending bankruptcies, and be employed for at least the previous three months. The company gives you up to 36 months to repay but lets you customize the schedule to your convenience. Loan Away takes 90% of applicants, so things will probably look good for you if you decide to go with them!

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