Are you looking to use your BC disability income to take out a loan? Finding a lender willing to accept your disability benefits as income is your first step to getting financing.
Yes. While traditional lenders such as banks may not approve those receiving BC disability assistance, there are alternative lenders who can. These lenders have more generous eligibility criteria and can approve you as long as your BC disability income is paid regularly into your bank account and you receive enough income to repay the loan.
Below are legitimate lenders that accept Persons with Disabilities (PWD) income in BC.
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You can use your disability benefits to qualify for a personal loan or line of credit from an alternative lender. Compare your options below.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Installment Loan | 9.90% - 46.96% | $500–$50,000 | 4 - 60 months | Loan search platform, largest lender network, bad credit OK | |
 Installment Loan | 8.99% - 46.96% | $500–$2,500 | 3 - 6 months | Loan search platform, pre-approval in 5 minutes, bad credit OK | |
 Line of Credit (MogoMini) | 47.42% | $1,000–$3,500 | No end dates | Quotes in 3 minutes without impact to credit | |
 Line of Credit | 19.90% - 34.90% | $1,000–$15,000 | Open | Apply online, get funds as soon as same business day |
You can get a small, instant loan from one of the cash advance providers below. They can consider your application as long as your disability benefits are being paid into your bank account.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Credit Line | 0% interest with optional fees | $30 – $250 | 30 days, extendable | Instant approval, no credit check, funding within 30 minutes with a monthly subscription | |
 Cash Advance | 0% interest with a subscription fee starting at $2/month | $20–$250 | Flexible | No credit check or job requirements, instant access to funds | |
 Cash Advance | 0% interest with a $2.99 monthly membership fee | $20–$350 | Next pay cycle (61 days max.) | 24/7 approval and funding, instant transfers with a fee, no credit check |
Payday loans have flexible eligibility requirements, which is why people on disability income have more options for this loan than other types of loans. The maximum amount you can borrow with disability payday loans in BC is $1,500, and the maximum fee lenders can legally charge is $15 for every $100 borrowed. But given payday loans’ very high rates, only consider getting one when you’ve exhausted all other options.
| Loan provider | Interest rate | Loan amount | Loan term | Key features | |
|---|---|---|---|---|---|
 Payday Loan | Varies by province | $100 – $1,500 | 7 - 62 days | 24/7 approval and e-Transfer, accepts bad credit | |
 Payday Loan | Varies by province | $100 – $1,500 | Up to 62 days | No credit check, instant loans, apply online or in-store | |
 Payday Loan | Varies | $50 – $1,500 | Up to 62 days | Online instant loans, non-employment income accepted, BC only | |
 Payday Loan | Varies by province | $100 – $1,500 | 5 - 40 days | Instant approval, e-Transfer within minutes, accepts bad credit | |
 Payday Loan | Varies by province | $100 – $1,500 | Up to 62 days | No credit check, private disability income only |
Some lenders see regular disability payouts as proof that you can pay back what you borrow. Because of that, they’re willing to provide financing. Below is a breakdown of the different types of loans that you may qualify for if you’re receiving disability assistance as a British Columbia resident:
You can apply for PWD payday loans online or at a store. If you apply in-store, you’ll provide documents such as government-issued ID and bank statements, get approved on the spot and walk out with your loan.
Applying online for PWD payday loans is faster and more convenient. In some cases, you won’t need to send any documents. Instead, you’ll log in to your bank account and give the lender view-only access to your bank statements.
Yes, there are online payday lenders that offer e-Transfer loans and accept BC disability assistance. You’ll just need to have an active bank account and be registered with your bank to send and receive e-Transfers.
Examples of lenders that offer e-Transfer loans on BC disability income include:
Installment loans are offered by alternative lenders with lenient eligibility requirements, including those who accept BC disability assistance. These loans have lower loan amounts, shorter loan terms and higher interest rates compared to standard personal loans. Still, they are typically cheaper than payday loans if you’re considering different disability loans in BC.
You can apply online for installment loans that accept disability.
Some lenders of disability installment loans can send money via Interac e-Transfer, while others only use the slower method of direct deposit. If e-Transfer funding is important to you, check with the lender before you apply.
Cash advances let you borrow a small portion of your paycheque in advance. You don’t need to have employment income and can use BC disability assistance to qualify.
Yes. Cash advance providers can fund you via direct deposit or e-Transfer.
Auto title (sometimes referred to as car title) loans are secured by your vehicle. You can typically qualify for anywhere from 25% to 50% of your car’s value. It’s also often a requirement that you own your car outright and it’s paid off.
Auto title loans are secured by your car, so you can often qualify for more competitive rates even if you have bad credit. You do, however, risk losing your car if you default on the loan.
It depends on the lender. Some lenders of vehicle title loans only use direct deposit, while others can do both direct deposit and e-Transfer.
The loans mentioned above—payday loans, installment loans, cash advances and car title loans—all have lenient eligibility criteria, and people with bad credit can realistically get approved for these as long as they can show the lender they have the means to repay the loan.
Where you should apply for a disability loan with bad credit depends on your personal financial situation, but generally, payday loans are only suitable as a last resort because of their high rates and extremely short repayment terms. If you’re struggling financially, you may want to explore loans that give you the flexibility you need with repayments.
Yes. Some lenders do not do credit checks and will focus on your income instead. You’ll need to show them proof of your income, such as recent bank statements. Be careful where you apply though, because not all lenders that offer loans with no credit check are legitimate.
Follow these simple steps to apply for disability loans in BC:
Depending on the lender, you could get an application decision the same day or up to several business days later. Many online loans for disability send funds quickly to your bank account via e-Transfer, which can take up to 30 minutes to process.
If you’re having trouble getting approved for a loan while on disability assistance, or you think the interest rate you’ll be approved for is more than you can afford to pay, it’s worth considering other options.
Living with a disability can be extremely challenging, especially when you have to worry about how you’re going to pay the bills. BC disability assistance is designed to lift some of that burden from your shoulders. It helps to cover the costs of basic living expenses (like food, clothing, shelter and prescriptions) for people living with disabilities.
The amount you’re eligible to receive depends on your income as well as the size of your family. You’re still allowed to work and earn money while you’re on BC disability assistance.
To apply for BC disability assistance, you’ll need to be at least 18 years old and must be able to prove financial need. You’ll also have to show you have a physical impairment that limits your ability to function in day-to-day activities. From there, you’ll need to fill out the Persons with Disabilities Designation Application on My Self Serve.
The schedule for the next income assistance payments is as follows:
You should have no problems using your BC disability assistance to help you qualify for certain types of loans, even if you have bad credit. You can generally choose between payday loans, installment loans, cash advances and auto title loans. Payday loans tend to be the most expensive, so explore other options first.
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