Fairstone
Fairstone specializes in personal loans for Canadians with fair-to-good credit, offering fast approval and flexible repayment options.
$500 CAD – $50,000 CAD
APR from 19.99%
Approval: 24 hours
Bad Credit Loans – Options When Banks Say No
Comparing 2 offers. Updated April 10, 2026.
Best Offers – Bad Credit Loans 2026
Spring Financial
Spring Financial offers personal loans with a focus on helping Canadians build credit, including options for those with poor credit history.
$500 CAD – $35,000 CAD
APR from 14.99%
Approval: 24 hours
Bad credit loans are available in Canada for borrowers with low credit scores (below 600). While rates are higher, these loans can help cover urgent needs and even help rebuild your credit.
What Is a Bad Credit Score in Canada?
In Canada, credit scores below 560 are considered poor, 560-659 is fair. Most banks require 650+, but alternative lenders like Fairstone and Spring Financial accept scores as low as 500-550.
Options for Bad Credit
- Fairstone – secured and unsecured loans, 550+ credit score
- Spring Financial – credit building programs, 500+ credit score
- Secured loans – using home equity or vehicle as collateral
- Credit unions – often more flexible than banks