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
Private Loans – Lending Between Individuals
Comparing 3 offers. Updated April 17, 2026.
Best Offers – Private Loans 2026
Tangerine
Tangerine is Canada's leading digital bank offering personal loans with no fees, a fully online process, and competitive fixed rates.
$1,000 CAD – $35,000 CAD
APR from 9.49%
Approval: 24-48 hours
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
Private loans are loans between individuals without a financial institution as intermediary. In Canada, private lending is legal but requires a written loan agreement. Interest income must be reported to CRA.
Legal Requirements
A private loan in Canada should be documented with a written agreement including the amount, interest rate (if any), and repayment schedule. Both parties should keep copies.