Finding instant loans in Canada is easy when looking online, and GoodCheddar makes it even easier to find the right lender for you.
When looking to borrow a quick or instant solution is often preferred, and your ability to get approved is much more than you think.
You’ll find the lenders we work with provide instant decisions for loans, do not have hidden fees, and offer an easy application that makes the entire process quick to complete.
Instant Loans in Canada
There are a few options for instant loans with the most common ones being installment loans along with payday loans in Canada. These provide the fastest way to get quick cash and are usually available the following business day.
To be eligible for an instant loan you must qualify and be approved. The following provides you with the necessary insight on how to get started.
How to Apply for Instant Loans
Applying for instant loans is a quick and easy process that anyone can do. But first, you should know about the standard requirements before thinking about doing so.
An applicant should be at least 18 years of age, a Canadian citizen or resident, have a checking account at a Canadian bank (chequing) with direct deposit, have a regular income, and meet any minimum income requirements.
Not all lenders operate the same, but the above covers the basic requirements for many.
When it comes to income, some lenders expect this to come from employment, while others may allow alternative incomes such as social benefits, unemployment insurance, pensions and other options.
When filling out an instant loan application online it is important to provide details accurately for each and every step that is a required field. To ensure you have a good chance for approval, it is also necessary to complete the instant bank verification, or IBV step. This step is required by lenders that use it, which is most lenders of instant loans in Canada
The amount you qualify for can depend on how much your income is, your income after any other loan or debt payments, your history of making payments (as per IBV, not credit check) and how much you might have asked to borrow.
In addition to the above tips, you can also improve your odds of being approved by requesting lower amounts. The lender looks at what they believe you can afford and it will weigh on their decision about your application.
Instant Payday Loans Canada
Getting instant payday loans in Canada is easy for most since the requirements are less demanding than other types of loans. Applying for instant payday loans does not require a credit score check since lenders of this type of loan know the applicants usually have a bad credit profile. The applicant also knows these are high interest loans but will accept the higher interest rates when other options turn them away or decline their application.
When it comes to borrowing in Canada, instant payday loans are often the fastest way to get the money you may need deposited in your account fast. This type of loan can come with instant approval 24/7 and be an option for quick cash. In some cases you can get the funds in your account the same day when using an e-transfer for instant payday loans and receive the money in minutes.
No Refusal Instant Loans
No refusal instant loans are available for the right candidates and provide fast cash in your account for just about anything. Those looking for guaranteed approval loans or no refusal instant loans might have bad credit and turned away from lenders in the past.
Getting instant loans with no refusal starts with applying. While we can’t make guarantees, we can tell you that a high percentage of people that apply do get approved. To say that a lender might offer no refusal payday loans could be deceiving, because there will be some that simply do not get approved. These might be people with bankruptcy, in collections, owe on multiple loans and clearly can not make payments, or often a combination of the types of reasons.
But no refusal instant loans are more or less an easy way to get fast cash, even with a bad credit score, and provide thousands of Canadians an option each month.