Loans Canada review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Loans Canada suits Canadian borrowers with a poor credit history who want a fee-free quote for personal, payday, consolidation, car or business lending. It charges no upfront fee, runs a soft prequalification, and publishes APRs of 9.99% to 35% through a network of partner lenders.

Key facts

Best for
A free, soft prequalification quote for Canadian borrowers with a poor credit history.
APR
9.99% to 35% (Source, checked September 26, 2026)
Loan amount
CA$250 to CA$50,000 (Source, checked September 26, 2026)
Term
3 to 60 months (Source, checked September 26, 2026)
Arrangement fee
CAD 0 (all Loans Canada services are free, no upfront fee) (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Representative example
On a $500 loan paid monthly over 9 months, a person will pay $81.15 per month for a total of $730.35 over the entire loan period, including the partner's optional loan protection. (Source, checked September 26, 2026)
Lender type
Broker (Source, checked September 26, 2026)
Eligibility
18 or older and resident of a Canadian province (Source, checked September 26, 2026)
Loan types
Personal, Payday, Debt-consolidation, Car, Business (Source, checked September 26, 2026)
Credit needed
Poor (Source, checked September 26, 2026)
Legal entity
6069321 Canada Inc (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
2012 (Source, checked September 26, 2026)
Support channels
Email, Phone, Help-centre (Source, checked September 26, 2026)
Official website
loanscanada.ca

Mortgages

Fixed period
0.5 to 10 years (Source, checked September 26, 2026)
Maximum loan to value
95% (Source, checked September 26, 2026)
Product fee
CA$0 (Source, checked September 26, 2026)
Purpose
Purchase, Remortgage, Home-equity (Source, checked September 26, 2026)
Lender type
Broker (Source, checked September 26, 2026)
Legal entity
6069321 Canada Inc (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
2012 (Source, checked September 26, 2026)
Support channels
Email, Phone, Help-centre (Source, checked September 26, 2026)

Apps and profiles

Elsewhere
WikidataLinkedInX

Pros and cons

Pros

  • Every service is free: the upfront fee is CAD 0 (all Loans Canada services are free, no upfront fee) and the product fee is CAD 0, so taking a quote costs nothing.
  • A soft prequalification, soft prequal, aimed at borrowers with poor credit, poor, so an initial rate check does not need a full credit file.
  • Borrowing of CAD 250 to CAD 50,000 over terms of 3 to 60, plus mortgages fixed for 0.5 to 10 at a maximum loan to value of 95%.
  • Support runs on email, phone and help centre, so help is available by email, by phone and through a help centre for applicants and existing borrowers alike.

Cons

  • It is a broker, broker, so the rate belongs to a partner lender and can climb to 9.99% to 35%, above the bad credit loan median of 19.98%.
  • The representative example repays far more than the amount borrowed once the partner's optional loan protection is counted in the total.
  • Borrowing begins at the small end of CAD 250 to CAD 50,000, which is above the market median amount of €876.96, so the very smallest sums sit elsewhere.
Loans Canada

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Scored 8.7 / 10 by BorrowCue.

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Who it suits

  • Borrowers living in Canada with a poor credit history who want a rate reading before applying anywhere else.
  • Anyone who wants a fee-free quote without committing to a full application with a partner lender.
  • Homebuyers and remortgagors comparing fixed periods of 0.5 to 10 at a maximum loan to value of 95%.

Who should look elsewhere

  • Readers who want a lender quoting its own rate, since Loans Canada is a broker while Monzo Flex publishes a personal loan range of 10% to 23%.
  • Borrowers weighing several markets at once, since Cashspace lists its rates in Philippine pesos of PHP 12 to PHP 36 rather than Canadian dollars.
  • Anyone chasing the cheapest rate at the low end, since Cashspace ES lists an APR of 0% while this service runs 9.99% to 35%.

Safety and regulation

Loans Canada operates as a broker, so the rate and the contract sit with a partner lender rather than with the brand itself. Its representative example shows a small loan repaid monthly over a short term, and the total repaid runs well above the amount borrowed once the partner's optional loan protection is included. Read the partner's terms alongside the broker's.

Who runs it

The service is run by 6069321 Canada Inc, a company registered in Canada that has traded since 2012.

How Loans Canada compares

Where Loans Canada is available

Available
Canada

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

How much does it cost to apply for a loan?+

Every service is free, so taking a quote costs nothing. The stated upfront fee is CAD 0 (all Loans Canada services are free, no upfront fee) and the product fee is CAD 0. What you pay is interest on the money you borrow, set by the partner lender, plus any optional loan protection you agree to on top of it.

What APR will I actually pay?+

Published APRs run 9.99% to 35%, and the top of that range sits above the personal loan median of 12.25%. A soft prequalification, soft prequal, gives a reading before a full application, and a thin credit file tends to price nearer the top of the range.

How much can I borrow, and over what term?+

Borrowing runs CAD 250 to CAD 50,000 and terms run 3 to 60. The range covers personal, payday, debt consolidation, car and business lending, and the mortgage side fixes for 0.5 to 10 at a maximum loan to value of 95%.

Will checking my rate hurt my credit file?+

The quote stage runs a soft prequalification, soft prequal, and the service is built around borrowers with poor credit, poor. A partner lender still reviews the file before agreeing anything, and a full application can bring a harder check at that point.

Am I dealing with a lender or a middleman?+

Loans Canada is a broker, so it introduces you to partner lenders and the price comes from the partner rather than from the brand. The entity behind the service is 6069321 Canada Inc, based in Canada, and the contract you sign is the partner's.

What would I repay in total on a small loan?+

The representative example shows a small loan repaid monthly over a short term, and the total repaid runs well above the amount borrowed, because that figure includes the partner's optional loan protection. Weigh it against the published range of 9.99% to 35% before judging the true cost.

How do I get help, and who can apply?+

Support runs on email, phone and help centre, so help comes by email, by phone or through a help centre. Applicants must be adults and residents of a Canadian province, which keeps the service to a single market rather than a cross-border audience.

What does the mortgage side cover?+

The mortgage range is set for a fixed period of 0.5 to 10 at a maximum loan to value of 95%, and the stated purposes are home purchase, remortgaging and home equity. Eligibility still follows the same rule: adults resident in a Canadian province.

Sources

  • loanscanada.ca checked September 26, 2026

    Backs: Loan amount, APR, Loan types, Representative example, Term

    “Loans range from $250-$50,000 with terms from 3 months to 60 Months or longer.”

  • loanscanada.ca/about checked September 26, 2026

    Backs: Credit needed, Founded, Headquarters

    “We now offer dozens of products to Canadians all across the country with a particular emphasis on those who are dealing with credit problems.”

  • loanscanada.ca/contact checked September 26, 2026

    Backs: Arrangement fee, Support channels

    “All Loans Canada services are free, we are a simple referral service.”

  • loanscanada.ca/mortgage checked September 26, 2026

    Backs: Fixed period, Maximum loan to value

    “Mortgage Term 6 months - 10 years (5-year terms are the most common)”

  • loanscanada.ca/mortgage/variable-vs-fixed-mortgage-rates checked September 26, 2026

    Backs: Purpose

    “Loans Canada ... First mortgage ... Refinancing ... Renewal ... Lender switch ... Home equity loans”

  • loanscanada.ca/terms checked September 26, 2026

    Backs: Credit check, Eligibility, Legal entity, Lender type, Product fee

    “These Pre-Qualification Offers may lead to a soft credit check from Loans Canada which won't affect your credit score.”

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Funding time.

Loans Canada

Loans Canada

A free, soft prequalification quote for Canadian borrowers with a poor credit history.

8.7/10See alternatives

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