Use our payday loans with guaranteed approval application to select your amount you need, multiple repayment options, and your basic personal information. In most cases, it takes less than 10 minutes to apply for a loan online.
Payday Loans Bad Credit Guaranteed Approval
Bad Credit Loans Instant Approval
Bad Credit Loans in Canada Guaranteed* Approval
We all face challenges and hardships in our lives from time to time, and those challenges can often be financial in nature. Fortunately, there are options and alternative non-bank lenders that offer bad credit loans in Canada with guaranteed approval.
Even with a job that pays well, and our best efforts at responsible money management, we can still end up with less than perfect or even bad credit score history.
A bad credit history can be like a noose around our necks. It can make it exceptionally hard to obtain loans for the funds that Canadians need. That’s especially true with conventional lenders like banks.
There is no absolute assurance but companies who provide payday loans for bad credit can provide money to those who need it most, even if banks have declined those same customers in the past.
Bad Credit Loans in Canada with Guaranteed Approval
Bad credit loans in Canada with guaranteed approval are the same types as loans that are offered to for those who have good credit history. The difference is in the kind of minimum credit score thresholds that a lender may require you to qualify for.
Traditionally in Canada, the line between “good” and “bad” credit is generally around 650. It’s also the approximate average credit rating for Canadian citizens. This means many Canadians fall below this line and therefore need guaranteed approval bad credit loans.
There can be a variety of reasons for having a lower then average credit rating, many of which can be outside of a customer’s control. That simple number however can often keep people from accessing the funds they need to effectively manage their finances.
As Canadians households take on more debt every year, it’s important to know what your personal credit score is and how it may impact your eligibility to take a loan.
If you’re not sure what your rating is and like to check it, you can take the following steps:
1. Learn how credit scores are getting a makeover and how it impacts you.
2. Visit the Government of Canada website and learn how to get a free credit report
3. Request a credit report from Equifax
4. Request a credit report from TransUnion
How Can You Borrow Money If You Have Bad Credit?
Many direct payday lenders allow you to borrow money online by applying for a bad credit loans with guaranteed approval. You’ll find much lower thresholds of credit scores to quality.
Banks are extremely risk-averse, and intentionally maintain fairly high credit score standards for their loans and these standards have only gotten tighter since the late 2000s financial crisis.
Private lenders loans have risen up to fill the gap in the market by offering loans for people with bad credit. These types of lenders can offer bad credit loans with instant approval to most Canadians. They open up the credit markets and evaluate people based on their individual circumstances, rather than relying on the credit rating as the arbiter of their fate. The net result is that more Canadians can qualify for a short-term loan, which if paid on time can potently help them rebuild their credit.
In fact, iCASH boasts a loan approval rate of over 90% which means that 9 in 10 Canadians who apply are approved for bad credit loans with guaranteed approval, even if they’ve been rejected by a bank or other lenders previously!
Do I Have to Pay a Higher Interest Rate on a Bad Credit Loans?
Traditional lenders can often require a higher interest rate when you take out bad credit loans. The theory is bad credit customers present a higher risk, and therefore the bank or lender needs to make more money off of them to ensure the loan is worthwhile.
At iCASH, that’s not how we operate. All of our interest rates are fixed. If you’re approved for cash loans, you’re approved, and that’s what you pay, regardless of your personal credit history, income, or other factors. The latest rates can always be found on our website, expressed as a dollar amount per $100 borrowed. They’re also fully disclosed during the application and agreement process.
Can I Get Bad Credit Loans in Canada with Guaranteed Approval?
Knowing that you can obtain bad credit loans in Canada with guaranteed approval can help remove a lot of stress from your life. Credit scores don’t have to be an impediment to obtaining credit and loans.
At iCASH, we guarantee* we will NEVER reject your loan application solely on the basis of your credit score. We’ve intentionally set our qualifications for instant payday loans to be as accessible and attainable as reasonably possible. And none of those qualifications or requirements mention a credit score, at all.
While we do perform a credit check as part of the approval process for your short-term loan, your score is NOT a disqualifying factor. In fact, we can offer bad credit loans with instant approval due, in part, to our comprehensive technology driven approval process. It looks at all the information you provide as well as the loan amount that you requested in your loan application, your credit history and other factors, to provide guaranteed approval. We’re mostly concerned with your income and whether or not you have the financial means to repay back your loan.
Of course, we have to point out that loans can still be declined, such as on the basis of not meeting all our qualification requirements. In most case, this happens when there is an insufficient amount of income to cover the requested loan amount.
In all cases, we will always try to offer a lower loan approval amount rather than outright decline loans for people with bad credit. We know how important it is to get a payday advance, especially if all other options for borrowing are closed off due to a bad credit score.
20%
CASHBACK
Borrow and Save!
Get up to 20% in Cashback!*
iCASH offers a unique Cashback program to reward its customers. You can get back up to 20% of the cost of borrowing paid once your payday loans for bad credit with guaranteed approval is repaid and receive your Cashback direct into your bank account the same day. Real saving and real Money!*
How to Get a Loan with Bad Credit?
Fill Out the Application
Get Approved
iCASH utilizes artificial intelligence to provide you with an instant approval on your online loans for bad credit. Once approved, sign your loan agreement electronically, and get your money fast.
Get Money
We’ll send your money fast 24/7 via e-transfer in 5 minutes or less. We are open every day of the year, so regardless of the time of day or night, you can get payday loans for bad credit with guaranteed approval.
Loan terms vary from - 62days. Maximum APR is 109,50%. For a $300 loan, the maximum total cost of borrowing is of $354. No minimum repayment period.
+ 200 000
members since 2014
members since 2014
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4.9out of5
customers would recommend us to their friends
customers would recommend us to their friends
Customer Rating
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Traditional Payday Lenders | Lenders with brokerage fee | |
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| Licensed | |||
| Flexible repayment plans | |||
| Offers cashback program for more savings* | |||
| Paperless | |||
| Free membership benefits | |||
| No hidden charges | |||
| E-transfer in the next 5 minutes | |||
| Get a loan now |
Payday Loans Bad Credit Guaranteed Approval
Manage Cash Flow
If you’re living paycheck-to-paycheck, it can be hard to always line up the timing of your paycheck with your bills. Late fees, service interruptions, and other problems can all be the result of this timing issue.
Payday loans for bad credit with guaranteed approval from iCASH give you the flexibility to pay your bills on time, manage your cash flows, pay back your loan as scheduled.
Pay for Auto Repairs
Cars always seem to break down at the worst possible time, don’t they? Most of us need our car to run errands, get to work, shuttle the kids around, and so on. We can’t afford to wait for days or weeks until we have enough money to get our car fully repaired, especially in the cold Canadian winters. For sudden, unplanned auto repairs, there can be very few options. With iCASH you can borrow money with bad credit and, you can pay your auto repair bills, and get back on the road right away.
Pay for Home Improvements
Unplanned home improvements can often put a strain on your bank account and budget. Even if you’ve been saving up responsibly for a while, costs can change through the course of a project, and you might need some extra help.
Bad credit loans online with guaranteed approval from iCASH, you can get the extra boost that you need to finish up that home improvement project. This is especially important in some of the more northern regions of Canada, where you have a limited time frame to complete projects that otherwise expose parts of your home to the elements – before the rough winters set in.
Replace Broken Appliances
Like cars, appliances seem to break down at the worst times. And they need to be replaced as repairs typically can cost more than a new replacement appliance unit.
If you have an unexpected expense to repair or replace a broken appliance, a short-term payday loan may be the perfect solution. At iCASH, we understand life and we can help you get a loan with bad credit.
Deal with Family Emergencies
When family emergencies strike, especially with extended family who live far away, costs can quickly spiral out of control. Between airfare, lodging, lost wages, etc., unexpected expenses can be financially devastating, and emotionally challenging as well. We know that when it happens, you need to be focused on your family, your health, and your loved one’s health and welfare. The last thing you need to be worried about is your finances.
Emergency loans for bad credit from iCASH can be just what you need to cover these unforeseen costs and focus on helping out your family as they go through a difficult time.
Bad Credit Loans - FAQ
- Are Payday Loans Guaranteed?
- Are There Any Guaranteed Payday Loans?
- Can You Get Payday Loans with Bad Credit?
- Can You Get Denied for a Payday Loan?
- How Can I Get a Loan with Bad Credit?
- How Can I Get Approved for a Loan with Bad Credit?
- What’s the Best Payday Loan for Bad Credit?
- How Long Does a Payday Loan Stay on Your Credit?
- Do You Need Good Credit for a Payday Loan?
Are Payday Loans Guaranteed?
We can categorically say that we’ll offer guaranteed payday loans in Canada so long as you meet all of our income as well as the eligibility requirements and no red flags are raised during the approval process.
From a bad credit or credit score standpoint, we will not disqualify you based on your credit score. So, in that sense, yes, the payday loans are guaranteed.
Are There Any Guaranteed Payday Loans?
Any lender who says that they will provide guaranteed approval of all customers who apply for payday loans should be treated with skepticism by consumers. Naturally, not everyone can be approved, because not everyone will meet the minimum eligibility requirements. Insufficient income is one of the principal reasons that bad credit loans with guaranteed approval may be declined.
As a company, we simply guarantee* that we won’t decline your loan application based on your credit history. That doesn’t mean there aren’t reasons why you may not be approved for the loan amount that you applied for. We do however approve 9 out of 10 Canadians who apply for a loan with iCASH, so the odds are definitely in your favor.
Can You Get Payday Loans with Bad Credit?
As we’ve outlined in this guide, it’s entirely possible to get payday loans with bad credit. Your best bet is to seek out an alternative, non-bank lender.
Banks tend to have higher credit score requirements and disqualify up to 80% of potential customers so even if you’ve been turned away by a bank previously, there’s a good chance your guaranteed approval bad credit loans will be accepted.
Can You Get Denied for a Payday Loan?
All lenders have to the right to deny a payday loan application. The reason for this is because not everyone who applies will meet the minimum eligibility requirements or qualifications.
Even those who do meet the basic requirements of bad credit loans with guaranteed approval may encounter issues that may arise during the approval process which would make them too high a risk – likely unable to repay their loan.
We don’t reject loan applications based on credit history or credit scores. It’s our goal to help you improve your finances, not to make things worse by saddling you with debt you can’t reasonably hope to repay.
How Can I Get a Loan with Bad Credit?
It’s easy to get an online loan with bad credit. All you need to do is go to the direct lender website and fill out a guaranteed payday loans application. Choose the loan amount, repayment plan, and provide basic personal information. This takes only about 10 minutes for most people.
You’ll then get an instant decision on your application, digitally sign your loan agreement, and get the funds sent to you in as little as 5 minutes via e-transfer. Funds can usually be released 24/7/365.
How Can I Get Approved for a Loan with Bad Credit?
To get approved for a loan with bad credit, you need to find a lender that doesn’t have any minimum credit score requirements.
Payday loans for Canadians with are remarkably easy to get approved for and we accept 9 / 10 customers who have poor credit history. If you need emergency money on the same day due to an unexpected situation that came up, then payday loans for bad credit may be the perfect solution for you.
If you have bad credit rating, don't let it stop you from getting a loan for bad credit with guaranteed approval so you can get the funds you need to manage your cashflow.
Many Canadians who seek an online loan for bad credit may choose to apply for a short-term loan. You can go online to find a Canadians payday loan lender that can assist your needs when emergency loans are needed, even if your credit history isn't as good as it could be.
What’s the Best Payday Loan for Bad Credit?
It’s often said that the best payday loan for bad credit customers is the one you can qualify for. While that’s overly simplistic, it’s true that options may be limited when you have poor credit and need a fast loan.
We consider you and your finances as a whole person, and not make a determination based on a simple credit rating. Our loans offer you the flexibility to borrow the amount of money you need and repay it on a schedule that makes sense for you.
With a high approval rate, minimum eligibility requirements, great customer service, and a track record of satisfied customers, Canadians who seek loans with guaranteed approval for people with bad credit, will choose to go with a fast loan because of the simplicity and convenience around the clock every day of the year.
At iCASH, you’ll find an easy to complete online application that’s available 24/7 which makes it quick, easy, and convenient to get to up to $1,500.
How Long Does a Payday Loan Stay on Your Credit?
One of the best things about payday loans is that they don’t generally get reported to the credit bureaus. While some specialized forms of credit reports can collect information on payday loans, everyday credit report from the major credit bureaus does not capture payday loan information. For Canadians who may have bad credit history, this can come as a welcome relief.
By having no impact or interaction with your credit report, the loans won’t increase your outstanding debt amount, ratios, or other metrics that could negatively impact your credit rating.
The only way that would happen is if you fail to repay your bad credit loan on time, and your account goes to collections. But so long as you repay the amount owed on schedule, it should not appear in your credit report.
Do You Need Good Credit for a Payday Loan?
Good credit not a requirement to obtain payday loans.
If you've had a difficult time in the past with your credit rating or if you are just starting out your career and have not had the opportunity to build your credit rating, you could still be approved for a cash loan.
That being said, obtaining instant payday loans or any other type of loan is generally easier if you have good credit. More opportunities will be open to you, and you’re more likely to get approved for a higher loan amount with lower interest rates, even with banks and traditional lenders.
As with iCASH, the main consideration is whether or not you have the income and financial means to repay your bad credit loan on time. Credit ratings are reviewed but they are not a disqualifying or determining factor.
We recognize that people can have bad credit history for a variety of reasons that don’t have anything to do with being bad at repaying loans or debts on time, so we don’t rely on it to make our approval decisions for our customers.
*Loan amounts are subject to net pay and other qualification requirements.
