Comparing 9 offers. Updated June 12, 2026.
GoDay is a Toronto-based online lender offering fast payday and short-term loans funded by Interac e-Transfer 24/7.
Magical Credit gives installment loans to Canadians with non-traditional income, including government benefits, pension, and disability.
Consumer Capital Canada offers personal installment loans up to $12,500 for borrowers with fair to poor credit.
Deposit My Cash Now provides fast online installment loans with same-day e-Transfer for Canadians with all credit types.
Nyble offers a 0% interest credit line up to $250 with no mandatory fees and free credit monitoring.
LoanMeNow offers fast short-term loans of $500 to $1,000 by e-Transfer for Canadians with bad credit.
Credit Club offers quick short-term e-Transfer loans of $500 to $1,000 for Canadians across the credit spectrum.
Eastern Loans offers fast short-term e-Transfer loans of $500 to $1,500 for Canadians with all credit types.
Alterfina offers installment loans up to $5,000 that help Canadians with poor credit build their credit history.
An emergency loan is a short-term or installment loan you can access quickly to cover an unexpected expense such as a car repair, medical or dental bill, urgent home repair, or a gap between paydays. In Canada, the fastest emergency loans come from online lenders that approve applications within minutes and send funds by Interac e-Transfer the same day, 24/7. Amounts typically range from $100 to $1,500 for payday-style loans and from $500 to $35,000 for installment loans, depending on your income and credit profile.
You do not always need perfect credit to qualify for an emergency loan. Many alternative lenders weigh your current income and bank activity more heavily than your credit score, and some accept government benefits, pension, or disability income. A soft-check pre-qualification lets you see whether you are likely to be approved and at what rate without affecting your credit score. The trade-off is cost: the easier and faster the loan, the higher the rate tends to be.
Before taking an emergency loan, compare the total cost of borrowing, not just the advertised rate. Installment loans are capped at 35% APR under federal law, while payday loans carry much higher effective rates and should only be used when you can repay on your next payday. Where possible, borrow the smallest amount that solves the emergency, confirm the repayment date fits your budget, and choose a lender that reports to the credit bureaus so on-time payments help your credit.
Compare the emergency loan offers below by funding speed, amount, and total cost, and check that the lender is licensed in your province and accepts your type of income.