Apply in a few simple steps and get the money today. Complete the quick and fast loan application on our website – provide some personal information about yourself, select the amount of money you need, and the loan repayment schedule*.
Are you in search of a payday loan but do not have the best credit score? Don’t worry, you’re not alone.
If you are looking for reputable companies that offer payday loans with no credit check in Canada, chances of you finding one are slim. While there may be some online lenders who give out loans without running a credit check, they often come with a catch — hidden charges and high-interest fees.
iCASH has helped over 300,000 Canadians overcome financial difficulties by offering low-interest and transparent loans, regardless of their credit score. Our goal is simple, to help anyone in need with a short-term financial solution, without holding on to their past financial mistakes.
So why do we check your credit score prior to approving you for a loan? We simply want to see that you have been paying back your debt on time. It is simply a verification process for us that shows you are in charge of your finances.
In Canada, maintaining a good credit score is crucial. A credit score is a number that represents the risk a lender takes when you borrow money from them. Working towards establishing a good credit score will allow individuals to borrow money whenever they want to, with the lowest interest rates possible.
On the other hand, credit scores are also an indication for non-financial institutions and individuals to see if you are accountable and if you have a habit of paying bills on time. A credit check also shows how much debt a person has, or if the individual has filed for bankruptcy. For example, it is a common process for landlords to run a credit check on potential tenants because they want to see if they can pay rent on time.
If you have no credit, that does not automatically mean that you have bad credit. It simply means that there is no record of a credit score, and lenders have no way to predict how likely you are able to pay your bills on time.
On the other hand, bad credit means you have made some poor financial choices that have resulted in poor credit score. It shows lenders that you have had difficulty in the past in paying back your debt. Bouncing back from a bad credit score is hard, but not impossible. As long as you’ve realized you need to recover, and have corrected your financial habits, you can easily recover in a couple of months.
We understand that poor credit can happen which is why we approve many Canadians that apply with us for loans for bad credit. If you are on the road to recovery, we look at your credit score as a part of our validation process. Because it is a part of our algorithm, it allows us to analyze and help us decide what is the right amount to loan to our applicants.
Companies that offer online payday loans with no credit check will review your take-home pay, employment history, as well as comparing your current monthly income to your monthly debt payments to come up with what’s known as a debt-to-income ratio.
Lenders who provide no credit check loans may not be able to provide instant approval because they may ask you for collateral.
Are there online lenders who offer payday loans with no credit check? Yes.
Is it a good idea to apply for a loan through them? Not really.
We understand why you might be apprehensive when it comes to applying for a payday loan with poor credit. However, you don’t have to because we can approve you for unsecured loans for bad credit.
While some companies who advertise that they offer payday loans with no credit check, they do require some form of verification. They will also ask for documentation that can verify your current financial situation. This means more work for you!
Documentation requirements for no credit check loans:
The four most comment types of documentation that are requirements for no credit check loans are:
When you apply for a payday loan with no credit check, you should carefully assess the lender to make sure they are reputable and fair.
Read online reviews and thoroughly check through the fine print to understand the costs associated when you borrow money.
When you apply for a loan with us, we run a credit check. Even if you have poor credit, there is still a good chance of you being approved.
Taking out a payday loan can help you get into the habit of paying bills on time and prioritizing important financial obligations.
But we have to make a note that payday loans are not to be used as a long-term solution. We offer same day loans to those who need financial help in case of emergencies.
Our goal is to lower financial stress in a short-term setting and highly advise applicants against taking out payday loans repeatedly to maintain cash flow.
Apply for online payday loans with instant approval:
To apply for a payday loan,
The best part about applying for a loan through us is that you need absolutely no documentation! It is fast, easy, and you can get funded without having to worry about a credit check.
Apply in a few simple steps and get the money today. Complete the quick and fast loan application on our website – provide some personal information about yourself, select the amount of money you need, and the loan repayment schedule*.
As soon as you send us your online loan application. You’ll receive instant approval on your fast loan 24/7 so you can take care of anything that life throws your way. Quick, easy, trustworthy loans from a licensed Canadians lender.
Your money will be sent to you via e-transfer in 2 minutes or less. Email money transfer means that the funds from a cash advance loan can be accessed anytime, day or night, 24/7. Safe, loans online with same day funding.
iCASH offers a unique Cashback program to reward its customers in Canada. You can get back up to 20% of the cost of borrowing paid once your instant approval payday loan is repaid and receive your Cashback direct into your bank account the same day. Real saving and real Money!*
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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 | |||
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