Guaranteed Approval Loans for Poor Credit

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Guaranteed Approval Loans for Poor Credit in Canada

There is no such thing as guaranteed approval loans for people with poor credit. At iCASH, we approve many people who need to borrow money but may also have a bad credit score.

Having poor or no credit is an issue that many Canadians face daily. Either they do not have a credit history, or it was previously mishandled. After a few times of being declined, some people try to find online loan lenders for poor credit.

If you are wondering how to get a personal loan with poor credit handle emergencies, you can quickly borrow money from a direct online lender to get the help you need during a financial emergency. Apply online for the amount of money that will help carry you over and you can re-pay it back in multiple flexible payments*.

Please note that there are is no guaranteed that you will be approved for a loan for poor credit. The actual amount that you may be permitted to borrow depends on many factors including your net income, the length of time that you have been working with your current employer, age, current residency status in Canada as well as other factors that we look at.

Even if you have poor credit, you can apply and get instant approval. The good news is that you do not need to provide any collateral and there are no documents required.

Although “guaranteed approval loans for poor credit” do not exist, in many cases online lenders will approve many applicants. The actual amount that you will be able to borrow is between $100 to $1,500. Good credit is not required, and you can apply from your home, office, or on the go with the iCASH mobile app 24/7.

The benefit of applying and getting approved for a short term loan is that these types of loans are a simple and quick way to get funded.

As a licensed direct lender, we provide Canadians with payday loan alternatives that have no hidden fees. We are committed to responsible and transparent lending. All fees that are associated with your loan clearly presented and are easy to understand.

Once you sign your loan agreement, we guarantee to send the funds to you within 2 minutes via e-transfer.

We also know you are is more than just a credit history report. It does not matter if you had problems getting approved in the past, we encourage you to apply. While we do not guarantee that you will get approval on loans for poor credit, the chances are in your favor.

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Finding Bad Credit Loans in Canada With Guaranteed Approval

We all face challenges and hardships in our lives from time to time, and those challenges can often be financial. 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.

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 is especially true with conventional lenders like banks.

There is no absolute assurance but companies who provide loans for bad credit with instant approval 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 are the same types as loans that are offered to those who have a 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 is 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 than 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 Canadian households take on more debt every year, it’s important to know what your credit score is and how it may impact your eligibility to take a loan.

If you are 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 Poor 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 from them to ensure the loan is worthwhile.

At iCASH, that is not how we operate. All our interest rates are fixed. If you’re approved for an unsecured personal loan, 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 are also fully disclosed during the application and agreement process.

Can I Get a Guaranteed Payday Loan No Matter What in Canada?

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 have intentionally set our qualifications 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. 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 are mostly concerned with your income and whether or not you have the financial means to repay your loan.

Of course, we must point out that loans can still be declined, such as not meeting all our qualification requirements. In most cases, 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.



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Just use the simple form on our website – select the amount of cash that you want to borrow, your repayment plan*, provide some information and you’re on your way.

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Your funds will be sent via e-transfer in 5 minutes or less. Our transfers mean your money is available anytime you need it. Safe, guaranteed online loans with same day funding.

Minimum, maximum repayment period 62 days. Maximum APR for 62 days is 109,50%. For a $300 loan, the maximum total cost of borrowing is of $354.
Interest fees: Alberta $15 per 100, British Columbia $15 per 100, Manitoba $17 per 100, New Brunswick $15 per 100, Nova Scotia $19 per 100, Ontario $15 per 100, PEI $15 per 100.
372 Bertha Street, Hawkesbury, Ontario, K6A 2A8. iCASH only offers online services.

Guaranteed Approval Loans for Poor Credit FAQs

Are payday loans guaranteed?

We can categorically say that we will offer guaranteed payday loans in Canada so long as you meet all 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, 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 will not decline your loan application based on your credit history. That does not mean there are no 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 in your favor.

Can you get payday loans with bad credit?

As we have outlined in this guide, it is 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 have 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 with guaranteed approval?

All lenders have 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 do not reject loan applications based on credit history or credit scores. It is our goal to help you improve your finances, not to make things worse by saddling you with debt you cannot reasonably hope to repay.

How can I get a loan with bad credit?

It is 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 loan application. Choose the loan amount, repayment plan*, and provide basic personal information. This takes only about 10 minutes for most people.

You will 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 poor credit?

To get approved for a loan with poor credit, you need to find a lender that does not have any minimum credit score requirements. Payday loans for Canadians are remarkably easy to get approved for and we accept 9 / 10 customers who have a 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 a poor credit rating, do not 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 an express loan. You can go online to find a Canadian payday loan lender that can assist your needs when emergency loans are needed, even if your credit history is not as good as it could be.

What is the best payday loan for poor credit?

It is often said that the best payday loan for poor credit customers is the one you can qualify for. While that is overly simplistic, options may indeed be limited when you have poor credit and need a fast loan.

We consider you and your finances as a whole person, and not decide 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 will find an easy to complete an 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 do not 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 a bad credit history, this can come as a welcome relief.

By having no impact or interaction with your credit report, the loans will not increase your outstanding debt amount, ratios, or other metrics that could negatively impact your credit rating.

The only way that will 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 is 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 your career and have not had the opportunity to build your credit rating, you could still be approved for a cash loan.

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 are 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.

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