Bad Credit Loans Alberta

Bad Credit Loans in Alberta

Bad credit loans in Alberta can be easily obtained, regardless of your credit score. Unlike traditional bank loans, these loans do not have minimum credit score requirements to be approved for.

We understand that having a poor credit score has a lot to do with how fast your financial reality can change. When you lose a job (or another primary source of income), it becomes harder to keep up with planned and unplanned expenses. As a result, debts can grow and bring your credit score down.

Credit scores range from 300 to 900 points. If you have a credit score above 800, your rating is considered excellent; fair scores go from 600 to 648, while having a score between 300 and 599 points is considered poor.

Bad credit loans in Alberta functions the same way as any other money loan; the difference is that people with poor credit scores can get a loan with private direct lenders instead of from traditional institutions.

Lenders that offer loans for poor credit don’t usually rely on credit scores when it comes to approving loans. They look at many other options, such as your income-to-debt ratio, and mainly if you have consistent income.

Loans for people with bad credit can provide residents of Alberta with instant approval. Funding from these type of loans can be used to pay for last minute expenses. These type of loans can be paid back over a short period of time.

With iCASH, you can easily get a bad credit loan in Edmonton, Calgary, or anywhere else in Alberta, even if you we're declined by a bank. Since there is no collateral involved, our loans are issued for small amounts. Albertans can apply for an unsecured loan as little as $100, up to $1,500.

While online lenders perform credit checks, they also consider several other pieces of criteria before granting loan approval. They will not turn you down just because of a poor rating.

In Alberta, bad credit loans are designed to help you take care of unexpected expenses like fixing that mysterious, clunky noise your car’s engine is making. They are not recommended to be used as a long-term solution.