Instant Funding review: Is it legit?

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Updated
Fact checked
Instant Funding Loans
APR Range
23.99% to 35.00%
Loan Amount
$300 - $1,500
Loan Term
4 to 12 months
All information about Instant Funding Loans has been collected independently by Finder. Finder is not connected with Instant Funding products, and this page is not sponsored, endorsed or administered by, or associated with, Instant Funding. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Instant Funding (instantfunding.ca) says it offers fast loans, but we can't sign off on its legitimacy.

This review is on instantfunding.ca and not on other companies sharing the same name. Instant Funding says it's a search platform that helps people find a payday loan alternative without a credit check. However, we're not signing off on its legitimacy because it's missing some key elements that a legitimate provider would have. Consider applying elsewhere.

In this guide

  • Our verdict
  • Your reviews

Is Instant Funding legitimate?

We can’t say this lender is legitimate for a few reasons. At the time of writing, our research into Instant Funding raised the following issues:

  • Illegal maximum APR. The maximum allowable APR (annual percentage rate) that can be charged by any loan company in Canada is 35% APR, according to the Government of Canada, but Instant Funding advertises APRs up to 59.96%.
  • No phone number. There is no phone number listed on the instantfunding.ca website. If you want to get in touch with Instant Funding, you’ll need to send an email.
  • Missing terms of use. We couldn’t find a terms of use page on its website, which legitimate sites typically have.
  • No registration. We couldn’t find Instant Funding in Canada’s business registries.

On the other hand, Instant Funding has these green flags:

  • Privacy policy. Its policy is accessible through the website footer.
  • Doesn’t guarantee approval. Instant Funding doesn’t promise you’ll get approved regardless of your financial situation. In fact, if you start the application and select an income source it doesn’t accept, you won’t be able to proceed.
  • Address. Instant Funding displays an address on its “Contact” page.

Information above is as of May 28, 2025.

Legitimate alternatives to Instant Funding

Searching for a loan from a legitimate lender? Check out the alternatives below.

1 - 3 of 15
Product Finder Score APR Range Loan Amount Loan Term Broker Compliance Key Features
Finder score
8.5 Great
9.99% - 34.95%
$300 - $35,000
6 - 84 months
Key features: Same-day funding, fast application
Go to siteView details
Finder score
8.6 Great
9.99% - 35.00%
$500 - $50,000
3 - 60 months
Note: Loans Canada is a loan search platform. Apply once to get matched with lenders based on your credit and borrowing requirements.
Key features: Loan search platform, largest lender network
Go to siteView details
Finder score
8.8 Great
8.99% - 35.00%
$500 - $2,500
3 - 6 months
Note: LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
Key features: Loan search platform, pre-approval in 5 minutes
Go to siteView details
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Finder Score for personal loans

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 40+ personal loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

What do Instant Funding reviews say?

Instant Funding is rated 1.9 out of 5 from 23 reviews on ScamAdviser and 2.3 out of 5 from 13 reviews on Trustpilot.

There are very few positive customer reviews about instantfunding.ca available online. Negative reviews point to the high cost of loans and overly persistent communication practices, while some also claim to have never received any funds despite completing an application with their personal and financial details.

What is the Instant Funding application process like?

If you want to apply for a loan through Instant Funding, you’ll need to meet the following criteria:

  • Have a net monthly income of $1,800 or more
  • Have a bank account with at least a 90-day history
  • Not have more than 3 NSF transactions in the past 90 days

You’ll need to fill out an online application form with the following information:

  • Your source of income
  • Your income frequency and monthly income
  • Details of any short-term loans you currently have
  • Details of whether you rent or own your home
  • Your name, date of birth and contact details
  • Your employer’s name and contact details
  • Your bank account details

What is instant bank verification and is it legit?

Instant bank verification is a legit process provided by many online lenders. It allows a lender to access an electronic copy of your bank statement to verify your identity and income. This removes the need for you to supply any physical documents and ensures a faster loan application process.

However, you need to make sure you’re dealing with a legitimate lender before handing over any bank details. You’ll be asked to provide your online banking username and password as part of instant bank verification for Instant Funding, so it’s essential that you make sure you’re dealing with a reputable provider first.

Features of Instant Funding

Instant Funding claims to offer the following features to borrowers:

  • Not a lender. Instant Funding claims to be a loan search and comparison website rather than a lender. It says it works with Canadian financial service providers to help match customers with loans.
  • Short-term loans. Instant Funding provides access to loans of between $300 and $1,500, with loan terms of 4 to 12 months or longer.
  • Fast applications. You can fill out an online application form with Instant Funding within minutes.
  • Fast access to funds. Instant Funding claims to offer same-day loan approval and can send the funds to your account within minutes via e-Transfer. Learn more about emergency loans.
  • No credit checks. You won’t need to complete a credit check to apply for a loan through Instant Funding, so borrowers with bad credit can still apply.

What to watch out for

Before applying for a loan through instantfunding.ca, keep the following factors in mind:

  • May not be legit. As we’ve already mentioned, we have a few questions about the legitimacy of instantfunding.ca. Applying for a loan requires you to provide a wide range of personal and financial information, so it’s essential that you make sure you’re dealing with a reputable provider before submitting an application. Learn more about personal loan scams.
  • No phone number. Instant Funding does not list a phone number on its website, so if you have an urgent problem with a loan, you’ll have to get in touch by email.
  • Maximum loan amount. The maximum loan amount available is $1,500, so this may not be enough for some borrowers.
  • Read the loan contract carefully. Finally, make sure you double-check the details of any loan contract before you sign on the dotted line. This will prevent any nasty surprises.

Bottom line

If you’re thinking of applying for a loan through instantfunding.ca, proceed with caution. While it does have a decent number of positive customer reviews, there are also a few factors about the provider’s website that give cause for concern. Make sure you compare a range of other lenders to find the right lender and loan for your needs.

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Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full profile

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