Urgent loans for good and bad credit in Canada

If you need fast cash in an emergency, you can apply online for a payday loan, cash advance or personal loan. These urgent loans often come with high interest rates but can put cash in your bank account within a few minutes after approval. Payday loans and cash advances are faster and easier to get. You can get them with bad credit, you don’t need to be employed, and some lenders offer instant approval and funding 24/7. However, they can be more expensive than personal loans.

Compare fast providers of emergency loans in Canada to learn which one might be best for you.

• Personal loans (within 24-48 hours, bad credit OK)
• Cash advances (up to 3 days or instantly for a fee, bad credit OK)
• Payday loans (instant, bad credit OK)

Compare emergency personal loans in Canada

Get your money as soon as the same or next business day with these quick personal loans. You can apply with good or bad credit.

Compare emergency cash advances in Canada

The emergency cash providers below allow you to get a small instant loan with no credit checks involved. You pay no interest on these cash loans, but you may pay a monthly subscription fee.

Apply online within minutes and get your money instantly for a fee.

Must read: Need an instant loan? Compare the best instant loans in Canada

Compare emergency payday loans

Another type of loan to consider is a payday loan, which provides instant approval and funding. However, they are extremely expensive and are only suitable as a last resort.

Apply online within minutes.

• How we selected fast emergency loans in Canada

  We’ve chosen the products on this page based on the providers available through Finder and online in the Canadian loans marketplace. These loans are not representative of the entire market. We focused on alternative lenders because they are generally faster than financial institutions. To select fast emergency loans, we went through lenders’ application processes and reviewed any customer feedback they received about their speed and reliability.

Learn more about emergency personal loans

If you’re not sure which lender is right for you, below is a breakdown of these lenders offering emergency loans in Canada, including who they are, how fast you can get their loan and what their requirements are.

1. Spring Financial

Spring Financial is a major alternative lender that offers emergency personal loans online. It’s been in business since 2014 and is based in Vancouver, BC.

How fast you can get it: Get an offer within minutes after you apply and receive your money on the same or next day.

Loan details

• Interest rate: 9.99% - 46.99%
• Loan amount: $500 – $35,000
• Loan term: 6 - 60 months
• Minimum income: $2,000/month
• Incomes it accepts: Employment

• Minimum credit score: 550
• Serviced provinces: All of Canada
• Accepts bad credit: Yes
• Instant approval: Approval within 15 to 30 minutes
• Credit check required: Yes

Tips to get your loan fast

• Have your phone ready. You’ll get a phone call from a Spring representative right after you apply.
• Prepare your information. Have your banking details, employment information and pay stubs ready.

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Dive deeper: Spring Financial review

2. Loans Canada

Launched in 2012, Loans Canada is headquartered in Toronto. As a loan search platform, Loans Canada has the largest lender network in Canada. The Loans Canada process is simple: Fill out one application and get matched with multiple lenders that provide emergency loans. It’s also possible to get urgent loans for bad credit from lenders on Loans Canada’s platform.

How fast you can get it: Within 24 to 48 hours.

Loan details

• Interest rate: 9.90% - 46.96%
• Loan amount: $300 – $50,000
• Loan term: 4 - 60 months
• Minimum income: $1,000/month
• Incomes it accepts: Varies by lender

• Minimum credit score: 300
• Serviced provinces: All of Canada
• Accepts bad credit: Yes
• Instant approval: Not available. You can get instant pre-approval, but the lender you choose will need to verify your income and identity before giving approval.
• Credit check required: Some of the lenders you’re matched with may check your credit. You’ll need to withdraw your consent if you don’t want this.

Tips to get your loan fast

• Be ready to answer your phone. Once you apply, an agent will contact you. Be prepared to answer the call if you want a faster application process.
• Send your documents in quickly. To speed up the approval process, get the required documents ready to send to the agent.

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Dive deeper: Loans Canada review

3. LoanConnect

LoanConnect is a BBB-accredited business that was founded in 2016 and operates out of London, Ontario. As a loan comparison platform, LoansConnect helps match you with loan offers based on your unique profile. Get pre-approved for up to $60,000.

How fast you can get it: Within 24 to 48 hours.

Loan details

• Interest rate: 8.99% - 46.96%
• Loan amount: $500 – $60,000
• Loan term: 3 - 120 months
• Minimum income: No min. income
• Incomes it accepts: Varies by lender

• Minimum credit score: 300
• Serviced provinces: All provinces
• Accepts bad credit: Yes
• Instant approval: Not available. You can get instant pre-approval, but the lender you choose will need to verify your income and identity before giving full approval.
• Credit check required: You can find out your matches without a credit check, but the lender you choose may check your credit history.

Tips to get your loan fast

• Have your documents ready. Have your ID, direct deposit information, bank statement, most recent pay stubs and proof of address ready.

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Dive deeper: LoanConnect review

4. Cashco

Cashco is an alternative lender that offers quick personal loans called “Flex Loans.” Its headquarters is in Edmonton, Alberta.

How fast you can get it: You can get a Cashco personal loan as soon as the same or next day.

Loan details

• Interest rate: 20.00% - 48.99%
• Loan amount: $500 – $7,000
• Loan term: 6 - 60 months
• Minimum income:
• Incomes it accepts: Government disability, private disability, private pension, CPP, OAS, CCB, workers’ compensation

• Minimum credit score: 300
• Serviced provinces: BC, AB, NB, SK and ON
• Accepts bad credit: Yes
• Instant approval: Not available
• Credit check required: Yes

Tips to get your loan fast

• Prepare your documents. Have your driver’s licence, void cheque or direct deposit info on hand.
• Verify your bank account. To speed up the process, provide access to your bank statement via Flinks.

Dive deeper: Cashco review

Learn more about emergency cash loans in Canada

1. KOHO

KOHO is an established fintech company that recently launched its cash advance product, KOHO Cover, which KOHO account holders can use for emergency funding.

How fast you can get it: Once you have a KOHO account, you can access its cash advance instantly.

Loan details

• Interest rate: 0% interest with a subscription fee starting at $2/month
• Loan amount: $20 – $250
• Loan term: Flexible
• Minimum income: No min. income
• Incomes it accepts: No income requirements

• Minimum credit score: None
• Serviced provinces: All provinces and territories
• Accepts bad credit: Yes
• Instant approval: Yes
• Credit check required: No

Tips to get your loan fast

• Sign up for a KOHO account in the morning. Once you have an account, you can get instant access to its cash advance. You’ll only be approved for a small amount first.

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Dive deeper: KOHO Cover review

2. Nyble

Nyble is a relatively new lender in Canada that provides emergency cash loans of up to $250 through its app.

How fast you can get it: 1-30 minutes with a paid membership or 1-3 business days with a free membership.

Loan details

• Interest rate: 0% interest with optional fees
• Loan amount: $30 – $250
• Loan term: 30 days, extendable
• Minimum income: $1,000/month
• Incomes it accepts: Any type, but prefers employment income

• Minimum credit score: None
• Serviced provinces: All provinces and territories
• Accepts bad credit: Potentially
• Instant approval: Yes
• Credit check required: No

Tips to get your loan fast

• No NSF transactions. Nyble is less likely to approve you if there are non-sufficient funds (NSF) charges in your bank account within the last 90 days.
• Connect your bank account. You’ll need to authorize Nyble view-only access to verify your income via bank verification.

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Dive deeper: Nyble credit line review

3. Bree

Bree offers an emergency cash advance with no interest. There’s a $2.99 monthly membership fee plus a small optional fee for express loan funding.

How fast you can get it: Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and up to 3 business days for standard delivery.

Loan details

• Interest rate: 0% interest with a $2.99 monthly membership fee
• Loan amount: $20 – $350
• Loan term: Next pay cycle (65 days max)
• Minimum income: Consistent paycheques twice per month
• Incomes it accepts: Any valid recurring income

• Minimum credit score: None
• Serviced provinces: All provinces and territories
• Accepts bad credit: Yes
• Instant approval: Yes
• Credit check required: No

Tips to get your loan fast

• Connect your bank account. You’ll need to go through bank verification so Bree can verify your income and identity.
• Income paid by direct deposit. To qualify, your income must be regularly paid into your account by direct deposit.

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Dive deeper: Bree early pay review

Learn more about emergency payday loans

1. iCash

iCash provides payday loans to people looking for urgent loans with bad credit. It’s one of the largest and most popular lenders in this space. Since 2014, iCash has provided emergency payday loans to more than 500,000 customers across Canada. As a payday lender, iCash provides 24/7 online customer support, which is a feature most payday lenders in Canada do not offer.

How fast you can get it: Get this loan online within 30 to 60 minutes of applying, 24/7, via Interac e-Transfer.

Loan details

• Interest rate: Varies by province
• Loan amount: $100 – $1,500
• Loan term: 7 - 62 days
• Minimum income: $800/month
• Incomes it accepts: Employment and other types, including EI, child tax, ODSP, AISH, provincial disability, CPP, OAS and social assistance

• Minimum credit score: None
• Serviced provinces: BC, Alberta, Manitoba, Ontario, Nova Scotia, New Brunswick and Prince Edward Island.
  
• Instant approval: Yes, offers instant emergency loans
• Accepts bad credit: Yes
• Credit check required: Yes

Tips to get your loan fast

• Prepare a reference. You can ask a family member or friend for a reference.
• Create an online account. Input your personal information and validate it with your phone number.

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Dive deeper: iCash payday loan review

2. GoDay

GoDay is a BBB-accredited payday lender that first began operations in 2012. It has automated systems to approve and process online loans in Canada 24/7, and you won’t need to email any documents to get approved.

How fast you can get it: You can get an emergency payday loan in as little as 60 minutes, 24/7, via e-Transfer. However, if you apply outside of business hours and GoDay’s system flags your application for manual review, the loan will take longer. (Consider iCash for 24/7 customer support.)

Loan details

• Interest rate: Varies by province
• Loan amount: $100 – $1,500
• Loan term: Up to 62 days
• Minimum income: No minimum income
• Incomes it accepts: Employment, CCB, disability tax credit, OAS, CPP and private pensions

• Minimum credit score: None
• Serviced provinces: AB, BC, MB, NB, NS, ON, PEI, SK
• Accepts bad credit: Yes
• Instant approval: Yes, offers instant loans in Canada
• Credit check required: Yes

Tips to get your loan fast

• Be prepared to connect your bank account. Instead of sending documents, you’ll provide GoDay with a snapshot of your bank statements via bank verification.
• Use the Express Re-Loan application. If you’re a returning customer, log into your GoDay account and submit an Express Re-Loan application online for faster approval.

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Dive deeper: GoDay review

3. Cashco

Cashco is an established lender and recently entered the payday loan market. It offers fast payday loans with no credit check required.

How fast you can get it: You can get instant approval and funding within minutes.

Loan details

• Interest rate: Varies by province
• Loan amount: $100 – $1,500
• Loan term: Up to 62 days
• Minimum income: No minimum income
• Incomes it accepts: employment, government disability, private disability, private pension, CPP, OAS, CCB, worker's compensation

• Minimum credit score: None
• Serviced provinces: AB, BC, ON, SK
• Accepts bad credit: Yes
• Instant approval: Yes
• Credit check required: No

Tips to get your loan fast

• Be prepared to connect your bank account. Connect your bank account via Flinks for instant approval.

Dive deeper: Cashco payday loans review

4. Venue Financial Centres

Venue is a licensed lender offering payday loans in BC. It is very flexible with income requirements, so you can apply using non-employment income.

How fast you can get it: You can get instant approval and e-Transfer funding within minutes.

Loan details

• Interest rate: Varies by province
• Loan amount: $50 – $1,500
• Loan term: Up to 62 days
• Minimum income: None
• Incomes it accepts: Employment income, government disability, private disability, private pension, CPP, OAS, CCB, workers' compensation

• Minimum credit score: None
• Serviced provinces: BC
• Accepts bad credit: Yes
• Instant approval: Yes
• Credit check required: No

Tips to get your loan fast

• Be prepared to connect your bank account. Connect your bank account via Flinks for instant approval.

Pros and cons of urgent loans in Canada

Are emergency personal loans better than payday loans?

It depends on your needs, but in general, personal loans are a better choice than payday loans. They have lower interest rates and longer loan terms that make repayments more manageable. The downside is that they are harder to get than payday loans, and they’re slower to process. While payday loans can provide instant approval and funding, sometimes even 24/7, emergency personal loans take 24 to 48 hours.

Economic conditions are causing Canadians the most financial stress

In the Finder: Consumer Sentiment Survey January 2024, Canadians were asked to select up to three factors causing them the most financial stress. The most common factor among respondents was economic conditions, such as inflation and high housing/rent prices, selected by 43% of respondents, followed by having limited savings, selected by 27% of respondents.

How do I pick the best urgent loans for bad credit in Canada?

Look at the following features when picking the best emergency bad credit loan:

• Interest rates. Compare several annual percentage rates (APRs) to get a true sense of what you’ll pay for interest and admin fees. Urgent bad credit loans will often come with high interest rates. Compare personal loan rates in Canada.
• Extra fees. Consider any extra fees you may pay (outside of those included in your APR), such as NSF fees, broker fees and membership fees.
• Loan term. While a longer loan term will give you lower monthly payments, you will pay more interest over the life of the loan. Choose a loan term that allows you to pay off the debt faster but using manageable repayments.
• Speed. If you need money ASAP, find a lender that can give you instant loan approval and funding. Learn more about fast and easy loans.
• Improves your credit score. If you’re applying for a personal loan, check whether your lender will report your on-time payments to the credit bureaus.
• Company reputation. Look for a lender with a solid reputation for customer service. Check online reviews on sites like Google, Trustpilot and the Better Business Bureau.

Can I get guaranteed approval on an emergency loan with poor credit?

No, you can’t get guaranteed approval on an emergency loan. Even if the lender has an automated approval process, they will still require you to meet certain criteria if they’re a legit lender. Those promising guaranteed approval may be doing so to collect fraudulent upfront fees, to collect personal private data or to get you to agree to a loan that you can’t afford.

Dive deeper: Guaranteed approval loans in Canada guide

How do I get an emergency loan if I’m unemployed?

It can be difficult to get an emergency loan if you’re unemployed unless you have another source of income. Some lenders will accept alternative forms of income such as EI, pension, disability, child tax credit or maternity benefits to help you meet income requirements. Check with the lender to find out what incomes they accept.

Related: Loans for people who are unemployed

Other ways to borrow money quickly

You can use the following options to borrow money in an emergency if you don’t want a personal loan or payday loan:

• Line of credit: Apply for a line of credit with an online lender, and it’s usually much faster than the bank. Just be prepared to pay higher rates.
• Credit card cash advance: Take money out of your credit card balance. You’ll usually pay around 21.99% in interest, which is expensive, but there’s no application, and you can borrow instantly.
• Car title loans: Use your paid-off car as collateral to boost your chances of approval. You can continue to use your car as you make your loan payments.

Frequently asked questions

• Where can I borrow money immediately in Canada?

  If speed is your top priority, the fastest lenders are payday lenders like iCash and GoDay, or pay advance apps like Nyble and Bree. Learn more about instant loans.

• How do I get 24/7 loans?

  You can get a 24/7 loan from payday lenders like iCash and PAY2DAY or cash advance apps like Nyble and Bree.

• How can I get a same-day loan?

  The fastest way to get an emergency same-day loan is to apply online with a lender that has an automated system for approving. You'll need to fill out all of your information accurately and completely and come prepared with the necessary documents. Make sure you meet eligibility requirements and sign up by instant bank verification if that option is available. Learn more about same-day loans.

• How do I get an emergency loan with no credit check?

  Some providers of emergency loans do not do credit checks. Instead, they will look at your bank statements to examine your current income and debts. Some might require collateral, such as your car. Learn more about no credit check loans.