Loans for People with Bad Credit in Ontario

Loans for People with Bad Credit in Ontario
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Bad credit score. The word that is feared both by lenders and borrowers. It can mean the “life and death” of your loan application. It is a deep mark that’s very hard to eradicate. People with bad credit scores often times lose hope and think that they have no right to borrow money. But there are loans for people with credit in Ontario. Not only in Ontario, but in the whole country of Canada. So that means it’s not the end of the world yet. Cheer up and I will inform you about loans for bad credit scores and the way to build up your score back from the red alert to the cool green status.
If you live in Ontario, there are a lot of ways to get a bad credit loan. There are your good old friends and relatives as well as neighbors, there are financial institutions and even banks which offers flexible secured bad credit loans. There are a lot of ways, all you need to do is to commit yourself into building up your credit score again and think positively.
In order to be a successful borrower and also avoid certain scams, there are a couple of things to do and look for. The first thing that you need to accomplish is by evaluating the background of the individual or institution from where you are going to make a loan. Failure in doing this can only result not just in an unexpected and disappointing results, but it could ruin your financial life. But don’t get intimidated by those, they are pretty easy to avoid. Here are some tips:
If you are looking and applying for bad credit loans in Canada online, make sure you perform the following things first before doing any risky actions:

•    Make sure the website is accredited by the Better Business Bureau (look for the BBB seal)
•    You are in Canada so consider websites with the .CA or .ca extensions ( like
•    Use their contact details to ensure that they can reply back to your inquiries. That symbolizes professionalism, and a professional business is a trusted source.
•    Compare APR, interest rates, loan amount, etc. to what suites best for you
•    Do research, ask people on different forums about the best sites to apply for a bad credit loan in Ontario, Canada
For those looking for bad credit loans on-ground, make sure that you always perform a background check. Compare interest rates and payment terms as always and ask someone about the behaviors and attributes of the lender. By acquiring information about the lender, you can easily prepare yourself for any strict rules that might apply.
There is another thing to consider when applying for bad credit loans and it whether you are going for a secured or unsecured bad credit loan. The best way to know what suites you best is by looking at the comparison of the two:

Two Best Options for Consumer with Bad Credit



You seek debt consolidation from a debt consolidation expert. We highly recommend you apply online with



You don’t want to fix your credit score and negotiate lower debt so you opt for a high interest Payday Loan. You can apply online here as well.


Secured Bad Credit Loan:

  • Flexible
  • Lower APR than unsecured
  • Easy to find lenders
  • Strict rules
  • Needs collateral
  • Can help build credit score if paid well

Loans Secured on Pay Cheques (Bad Credit Loans Available in Ontario)

  • Website:
  • Offering bad credit loans which are secured on payday cheques. You will need a steady job for these loans and payments can be reported to the credit bureau.
  • Loan amount of $500, $2300, $3200 and $5500
  • APR’s are generally high up to 36.00%
  • For bad credit loan amounts of $5500, monthly payments will be very high

Unsecured Bad Credit Loans

  • Higher APR than secured
  • Hard to find lenders
  • Less strict rules
  • Higher fees and interest rates
  • Does not directly helps build your credit score


Based from this comparison, you can use the combination of the two to effectively increase your credit score. You can apply for a secured loan then apply for an unsecured loan, to manage payments for the secured ones. But that can be very risky, you could end up buried in piles of debts. I suggest that you choose only one that perfectly suits your needs, the one which will greatly help you from your financial problems.
Managing a bad credit score is not an easy task but it doesn’t mean that there is no way left. There are a lot of ways to cure this financial illness, and it relies solely upon your ability to effectively manage your incomes and outcomes.


  1. I need 2nd mortgage for bad credit,

  2. Looking for short term 2000 – 3000 loan. Recently entered consumer proposal. I do have full time job and a car for collateral
    Any suggestions. Need asap

  3. Hi Dave, Have you tried to apply for a loan through our site? One of the loan providers through our online application may be able to help you, Miriam

  4. im stuck with back support of 3,582.50 and i cant afford half my pay is there away to get aloan to help with this

  5. HI Kris

    You’ll need to try to apply for the loan online. If you apply online you will get contacted from one of our loan providers and they can help you.
    Good luck, Miriam

  6. Hi, I need a loan of $10,000 to consolidate debt. I do not want to do a proposal of any kind. I want a loan from a legit loan company. My husband and I have gotten in over our heads with credit cards and need to get rid of them please, but we do not want to do a proposal. I want to pay the debt…up front…cut up the card… move on…Can you assist with this?

  7. Hi Eve

    Thanks for your message. We don’t actually provide the loans but work with partners. They will need you to get in touch with them about their debt consolidation services in order to assess if they can help. You can visit – On the right hand side there is an area to include your email & name – one of the debt consolidation firms will get in touch with you. I hope that helps, Miriam :)

  8. I am a full time student and I don’t have a job I am looking to get a quick loan until my money comes in, in January just about 2,000 my credit score isn’t good but I have paid off every I owe do you have any suggestions?

  9. HI Jaime,

    Thanks for your message. You may be able to line some credit up – you should look at our homepage – – there are some links on there for personal loans. You can also look into payday loans – Since you don’t have a job though this isn’t probably the best course of action as you will need to pay back the payday loan quickly to avoid excessive interest. Let me know if you have any questions, Miriam

  10. Lloyd Longhurst May 11, 2015, 11:10 pm

    I am in need of 30,000 to get me out of bancruptcy and pay some overdue utility bills.
    Have very little for collateral and a very low credit score. Is there any hope for me

  11. Miriam Berman May 13, 2015, 7:57 pm

    Hi Lloyd,

    Thanks for getting in touch. There is always some hope. I would suggest that you apply online for a personal loan at one of the providers we’ve noted on this page – Once you fill in your details one of our lenders can get back to you with some options / advice on what you can do to get yourself in a position to be granted a loan from their lending firm.

    Good luck, Miriam

  12. Hello I’m looking for help with a downpayment for a home I’m looking to purchase in the future. There are severance issues going on with the property and because of that it can’t actually be sold until it has cleared. I have been offered to rent to own until it’s cleared but need a down payment of 15-20,000. Problem is I have really bad credit, a single parent and I do have a job. Is there any chance of getting help for this :/

  13. Hello Dnysha,
    It sounds like you are looking for a personal loan. I’d recommend visiting – – there are a range of lenders listed here that may be able to help.

    Good luck,

  14. Hi my name is Alison and l make $34000 a year and I am looking to get a loan of $5,000 to pay my debt. My credit is not so good at the moment. I do work as a PSW. Do you have any suggestion for me?

  15. HI Alison

    Are you looking for a personal loan or are you looking for another type of loan? Depending on the loan you can apply through our site. We don’t provide loans directly but the lenders we have on the site can help individuals like yourselves with obtaining credit.

    Thanks Miriam

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