Where can I find lenders for bad credit personal loans in Canada?

Top Canadian bad-credit lenders

All rates capped at 34.99% APR — Canada's criminal interest rate since January 1, 2025. Rates verified against each lender's public disclosure pages, April 2026.

Categories of bad-credit loans

1. Unsecured installment loans — fixed monthly payments, 12–60 month terms, $1,500–$15,000 typical
2. Secured personal loans — collateral (vehicle, savings) lowers the rate by 5%–15%
3. Co-signed loans — adding a co-signer with 680+ credit can drop your rate dramatically
4. Credit-builder loans — small loans (~$1,000) held in trust until repaid
5. Cash advance/short-term loans — fastest funding (24h) but highest rates

What lenders look at when credit is poor

• Income stability — 6+ months at current job is the strongest signal
• Bank statements — consistent deposits and no NSFs in 90 days
• Existing debt — TDS under 50% is workable for most subprime lenders
• Recent bankruptcy/proposal — most lenders require 12–24 months discharged

Avoid these red flags

• Upfront "processing" fees before funding (always a scam)
• Lenders without a Canadian provincial licence
• "Guaranteed approval" claims without any verification
• Rates above 35% APR (criminally usurious for non-payday loans)