Get a Bad Credit Loan: Find Solutions for Your Financial Needs

What Are Bad Credit Loans?

Bad credit loans help people with low credit scores or limited credit history get access to emergency funds when traditional lenders may turn you away. 

And it’s certainly important for many, as the average Canadian credit score is 760 as of 2024 according to FICO. If your score falls below that, you’re generally considered to have fair to poor credit, meaning it’s harder to get traditional loans.

Lenders for bad credit loans rely on other factors for eligibility, such as your current income and its source (regular or self-employment, government benefits, etc), banking history and ability to repay.

How to Get a Loan with Bad Credit: The Simple Process

Getting approved for loans for bad credit is not complicated. At iCash, the process is simple. Here’s what you can expect:

Step 1: Complete Our Online Application

Fill out our secure online form in just a few minutes. You'll need basic personal and banking information. No paperwork, no in-person visits required. The entire process happens online through our website or mobile app, available 24/7.

Step 2: Receive an Instant Decision

Our automated system reviews your application immediately, considering factors beyond your credit score. Most applicants receive a decision instantly. If approved, you'll see your loan amount and repayment terms clearly displayed before you sign anything.

Step 3: Get Your Funds Fast

Once you electronically sign your loan agreement, your funds are sent via e-Transfer within 2 minutes. Our transfers work 24/7, including weekends and holidays. Unlike traditional lenders that take days or weeks, loans for bad credit through iCash deliver the speed you need.

Types of Bad Credit Loans

Here's a breakdown of common bad credit loan options in Canada:

Key Considerations for Bad Credit Loans

We believe in transparency, so let's discuss what you need to know about bad credit loans before you apply for one:

The Benefits

Access When You Need It Most

These loans are above all else when it comes to quick approvals, fast fund delivery through e-Transfer, and acceptance of various income sources including benefits, EI, and self-employment.

Keep Your Credit On Track

If you’re using your loan to pay off an unexpected bill (especially if it’s one that’s already late and runs the risk of going to collections), you can use the money to pay off that particular bill and avoid the potential hit to your credit.

Important Considerations

Higher Costs Than Traditional Loans

We understand that bad credit loans carry high fees and interest rates, but they can be a helpful short-term option when traditional options aren’t realistically accessible as quickly as you would want. 

At iCash, our fee structure is transparent: $14 per $100 borrowed for instant loans. We never hide fees or surprise you with unexpected charges.

Making Responsible Borrowing Decisions

Before applying, consider: Can you afford the payments? Do you have a repayment plan? Have you explored alternatives like borrowing from family or negotiating payment plans? Always review the total amount you'll repay. And if you’re unsure about something, ask questions about all fees and charges before signing. Our customer support team is always available to help.

Why Choose iCash for Bad Credit Loans?

93% Approval Rate – We've helped over 1.6 million Canadians access funds with a high approval rate.

Fast, Convenient Process – Apply online in minutes, receive approval decisions 24/7/365, and get funds via e-Transfer within 2 minutes.

Transparent Pricing – No hidden fees. You'll know exactly what you're paying before you sign.

Flexible Repayment – Up to 3 repayment installments, repayment periods up to 62 days, 5-day grace period on first payment, and no penalty for early repayment. Conditions are all dependent on provincial regulations.

Trust and Reliability – Fully licensed in 7 provinces, 4.8/5 on Trustpilot (1,800+ reviews), 4.4/5 on Google (2,000+ reviews), and member of Canadian Consumer Finance Association.

Available Across Canada

iCash proudly offers bad credit loan solutions in many Canadian provinces. We're fully licensed and regulated in each province where we operate, ensuring you receive compliant, transparent service.

We currently serve residents in:

• Alberta (AB)

• British Columbia (BC)

• Manitoba (MB)

• New Brunswick (NB)

• Nova Scotia (NS)

• Ontario (ON)

• Prince Edward Island (PEI)

Whether you're in Vancouver, Toronto, Calgary, Halifax, or anywhere else in these provinces, you can access our 24/7 online application process.