Many Canadian lenders claim to offer guaranteed payday loans no matter what in Canada. But in reality, these loans are not easy to come by.
The truth is, anybody, applying for guaranteed payday loans no matter what in Canada will find that every lender has specific requirements to qualify.
With guaranteed payday loans no matter what in Canada, you can get an instant payday loan in Canada with different repayment options.
Therefore, a payday loan can help tide you over until your next paycheck if you need cash fast.
Guaranteed Payday Loans No Matter What Canada
Mogo is a personal loan provider servicing Canada. Whether you need some last-minute emergency cash, or you want to get out of the payday loan cycle, MogoMini can help. It's a flexible loan that's designed to help you get in control of your finances.
With the MogoMini, you can get up to $3,500 in loans without hassles, and without affecting your credit score.
Pros
No hidden fees
Fast Approval
Super flexible
Cons
High-interest rates
Maximum Payout is $3,500 for the MogoMini
Eligibility
Be a citizen or permanent resident of Canada
Reach the age of majority in your province/territory
Have a valid ID
Have proof of income and bank statement/verification
Maximum Payout (MogoMini): $3,500 CAD
Maximum Payout
- $50,000
Eligibility
Eligibility with vary based on each lender, but as a general rule for pre-approval you’ll need to meet the following criteria:
- Be a Canadian resident
- Reach the age of the majority of your province/territory
- Your total debt must not exceed 60% of your income
- It’s free to apply and won’t affect your credit score
- Very Fast & Secure
Only available in Alberta, British Columbia, Manitoba, Ontario, and Saskatchewan.
Maximum Payout
- $50,000
What are Guaranteed Payday Loans No Matter What?
Short Answer. Guaranteed payday loans no matter what in Canada are loans where applicants are always 100% assured to be approved regardless of their credit rating, collateral, income, etc; but in reality, these loans are not easy to come by.
Often, there are fine print clauses that spell out rejection of the application is still possible if certain minimum thresholds are not met.
Every licensed and reputable lender in Canada has specific minimum criteria that must be met by applicants before they are approved for a loan. This could be a minimum credit rating, collateral, income statement, etc.
While it is true that some lenders may advertise “guaranteed payday loans no matter what” in Canada.
This type of loan offers a valuable type of financing that you may be eligible for and can help you deal with financial problems that have cropped up in your life.
One of the best things about Guaranteed payday loans no matter what in Canada is that you can apply online for most of them. No matter where you live in Canada, there are payday loan companies available.
How Guaranteed Payday Loans Canada Work
The use of Guaranteed payday loans no matter what in Canada has become a very acceptable and popular way for millions of people to get the money they need when they need it.
Guaranteed payday loans no matter what Canada are just what the name suggests, and you get the cash you need before your next paycheck to help you get through an unexpected expense.
Many financial institutions offer this type of loan in Canada without regard for provincial borders.
If you need quick cash, payday loans can give you the money you need until your next paycheck, but be aware that the interest rate on payday loans is often extremely high.
Getting a guaranteed payday loan no matter what in Canada is a simple process. These loans are ideal for people with irregular incomes or seasonal jobs, and they provide up to $1,500 or more in fast cash.
Whether you have bad credit or no credit at all, you can still apply for a guaranteed payday loan no matter what in Canada from one of several lenders online.
Unlike traditional bank loans, guaranteed payday loans may range from weeks to months, depending on the borrower’s pay cycle and residence.
Loan providers offer multiple repayment options for their loans, while others offer only one payment option.
For those that offer only one payment option, the loan principal and interest must be repaid once this period elapsed.
When Does it Make Sense to Apply for a Payday Loan?
While guaranteed payday loans in Canada come with high-interest rates. However, guaranteed payday loans could be your saving grace if you need quick cash but do not qualify for a traditional bank loan due to your credit score or no collateral.
Furthermore, guaranteed payday loans no matter what are easy to access, making them handy to fund emergencies, especially if you don’t have an emergency fund or enough savings.
However, guaranteed payday loans have high-interest rates and heavy penalties on late payment. If you don’t have enough income to keep up with your monthly income, you will be putting yourself in big trouble.
Also, the high fees of payday loans make it easy to get stuck with your payment schedule, compounding your debt situation and reducing your credit score.
How to Apply for Guaranteed Payday Loans in Canada
Many Canadian online payday loan lenders offer a streamlined process that lets you apply for a guaranteed payday loan no matter what in Canada from the comfort of your home or office.
The application and approval process for direct online lenders can often be summarized as follows:
Step1:
The applicants fill out an online application that includes information about the amount of the loan and other necessary details.
The process requires only a few minutes, and no scanning, faxing, or mailing of any documentation is necessary.
Step2:
Advanced algorithms review the application to provide instant approval on the loan.
Step3:
After the application is received, a digital loan agreement is sent to customers within minutes, which they can sign and return with just a few clicks.
Step4:
Within a few minutes, the borrower’s funds are released according to their selected funding method. The funds can be used in whichever way the customer wishes.
Step5:
Principal and interest payments are automatically made from the bank account provided in the application to repay the loan by the date specified in the loan agreement.
Guaranteed Payday Loans Canada Pros
Payday loans are the first option for many people who need quick cash. The advantages of payday loans in Canada can include:
-
All Credit Scores are Accepted
Regardless of whether you have a credit history or not, you can secure a guaranteed payday loan no matter what in Canada.
With a network of licensed and approved guaranteed payday loans no matter what providers across the nation, a bad credit score is no longer a problem with guaranteed payday loans no matter what in Canada.
-
Fixed Rates
A fixed-rate is a set amount that you will pay on your loan each month, which can offer some peace of mind as your budget is not affected by fluctuations in the market.
When searching for a lender, you want someone that offers fixed rates with no hidden fees or surprises after you have signed for the guaranteed payday loan.
-
Easy Application
Guaranteed payday loans no matter what in Canada make the application process as easy as possible, which is one of the main benefits of choosing this loan.
Applying for one of these loans is very easy and takes only a few ten minutes. All you need to do is fill out their online form, which asks for some information about yourself.
-
Flexible Repayment Options
Another benefit of guaranteed payday loans in Canada is the flexible repayment options. Private lenders offer a range of convenient repayment options that will enable you to pay back your loan in several installments until it is repaid in full.
If you use a private lender to borrow, you’ll receive a set amount of time to pay back your loan. This period can be as short as one week and as long as six months.
Guaranteed Payday Loans Cons
The following are the two major disadvantages of payday loans you should be aware of:
-
High-Interest Rates
Payday loans have high-interest rates compared to other types of loans. You can easily get stuck in a cycle of debt if you don’t have enough income to keep up with your monthly payment.
Guaranteed Payday Loans Canada Eligibility
Using the Canadian Government’s statistics, let’s see who is more eligible for a payday loan in Canada.
According to the Canadian government, the typical payday loan customer should possess the following characteristics:
- They have a low to moderate-income
- The range of their ages is 25 to 45
- They live in an urban area
- Their bills are due, and they want to avoid overcharging
- Various car maintenance issues need to be addressed, like replacing tires or repairing small problems
- They are faced with household maintenance issues, such as leaking pipes or damaged roofs
- Uninsured medical expenses
14 Guaranteed Payday Loans No Matter What in Canada
Canada has various payday loan options, which work best for people with a steady income and a bank account.
Here are 19 of the top payday loans right here for you, with an explanation about each:
1. Lending Mate
LendingMate is a guaranteed payday loan no matter what provider servicing Ontario and British Columbia. Unlike most lenders in Canada, Lending Mate requires a guarantor for loan approval.
You can get up to a $10,000 loan with Lending Mate regardless of whether you have a good or poor credit score.
Pros
- No hidden fees
- Fast approval
Cons
- Requires a guarantor
- High-interest rates
- Only available for Ontario and British Columbia residents
Maximum Payout
$10,000
Eligibility
- Be an Ontario or British Columbia permanent resident
- Age between 19 – 75
- Have no active bankruptcy or consumer proposal
- Provide proof of income
2. Mogo
Mogo is one of the free credit score monitoring services providers and payday loans in Canada. It offers one of the highest payday loan amounts and a long repayment schedule in the industry.
With MogoMoney, you can get up to a $35,000 loan and pay it off between 6 months to 5 years.
Pros
- High loan amount
- Flexible terms
- Poor credit approval
- 100-day money-back guarantee
- Free credit score monitoring
Cons
- High-interest rates
- No guarantee approval
- Double penalties if you default your loan payments.
Maximum Payout
$35,000
Eligibility
- Be a citizen or permanent resident of Canada
- Reach the age of majority in your province/territory
- Have a valid ID
- Have proof of income and bank statement/verification
3. Loan Connect
LoanConnect is a guaranteed payday loan no matter Canada search engine that partners with over 25 lenders to provide flexible unsecured personal loans to Canadians.
That said, you can get up to a $50,000 loan through LoanConnect with an annual percentage rate (APR) ranging from 5.75% to 46.96%
Choose from loan types for debt consolidation, home renovation, business, vacation, auto, and more
Pros
- It’s free to apply and won’t affect your credit score
- A singular application saves time applying to multiple lenders
- Allows you to compare loan options with terms and conditions upfront
- Partnered with lenders who serve all credit scores
- Application takes less than 5 minutes, with funds possible the same day
- New partners with lower APR ranges for better loan options
- Loan types to serve all purposes
- Unsecured personal loans don’t have restrictions on how they’re used
Cons
- LoanConnect is the aggregator, not the lender
- Your results only present the lenders they work with, not all lenders in the market
Maximum Payout
$50,000
Eligibility
- Eligibility with vary based on each lender, but as a general rule for pre-approval you’ll need to meet the following criteria:
- Be a Canadian resident
- Reach the age of the majority of your province/territory
- Your total debt must not exceed 60% of your income
4. Coast Capital
Coast Capital is a loan and line credit platform with over 80 years of experience in the industry. It’s a member-owned cooperative that offers flexible loans and lines of credit to eligible members.
That said, you can get up to $50,000 loan or lines of credit through Coast Capital if you’re a resident of Alberta, British Columbia, Manitoba, Ontario or Saskatchewan.
Pros
- High long amount
- Flexible terms
- Multiple loan types
- Multiple lenders
Cons
- Only available to the residents of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan
- Credit check (with your consent)
Maximum Payout
$50,000
Eligibility
- Be a resident of Alberta, British Columbia, Manitoba, Ontario or Saskatchewan
- Reach the age of majority in your province
5. Alpine Credits
Alpine Credits offers equity-based loans to home or other real estate owners in Alberta, Ontario, British Columbia, and Quebec.
Regardless of your income, credit history or age, you can get fast loan approval through Alpine Credits using your home or real estate equity.
With over 50 years of experience in the industry, Alpine Credits offers flexible payday loans without regard to credit scores.
Pros
- Poor credit approval
- Flexible terms
- Adjustable interest rates
- Fast approval and funding
- High loan amount
Cons
- Only available to the residents of Alberta, Ontario, British Columbia, and Quebec
- No approval guarantee
- Credit check
Maximum Payout
Variable
Eligibility
- You must be a resident of Alberta, Ontario, British Columbia, and Quebec
- Reach the age of majority in your province
- Have 20% or more home equity or other real estate equity
- Have steady income
- Your outstanding debt should be as little as possible
6. Car Loans 411
As the name implies, Car Loans 411 specializes in helping Canadians find the perfect finance on cars regardless of their situations.
The company partners with several automotive lenders and dealers to help you find the perfect car finance.
That said, you can get a car, truck and van loans through Car Loans 411.
Pros
- Low-interest rates
- High loan amount
- Flexible terms
- Partners with multiple automotive dealers
- Bad credit approval
Cons
- Limited to auto loans
Maximum Payout
$40,000
Eligibility
- Be a Canadian resident
- Reach 18 years of age or above
- Have More than 500 credit score
- Have a government-issued ID
- Be employed for 3+ months
7. Consolidated Credit
If you’re looking to improve your credit score and access several loan opportunities, you need debt counselling.
Consolidated Credit is a credit counselling platform that helps you get out of debt and maintain financial security. This agency has a wide range of resources that educate individuals on getting debt relief and saving money, among others.
That said, Consolidated Credit has practical solutions to help you get out of debt by simply telling them your situation.
Pros
- Free initial consultation
- Helps improve your credit score
- Wide range of resources on financial literacy
- Multiple debt relief and management solutions
Cons
- Fees may be high
- No guarantee solutions
Maximum Payout
N/A
Eligibility
N/A
8. Courtier Du Quebec
Courtiers Du Quebec is a consulting company offering unsecured personal loans. It partners with several lenders that provide a variable range of personal loans.
Regardless of your credit score, Courtiers Du Quebec offers access to a wide range of loans for:
- Residence
- Commercial property
- Rental
- Renovations
- Construction, etc.
Pros
- Poor credit approval
- Flexible terms
- Fast approval
Cons
- Low loan amount
- High-interest rate
Maximum Payout
$1000
Eligibility
- Reach 21 years of age or more
- Your annual income should be $18,000 or more
9. Fairstone
Fairstone is one of Canada’s top providers of payday loans, offering up to $35,000 loans. This is one of the industry’s highest payday loan amounts for non-bank lenders.
Furthermore, Fairstone has flexible loan terms and high customer satisfaction, making it one of Canada’s reliable payday loans providers.
Pros
- High loan amount
- Flexible terms
- High customer satisfaction
Cons
- High-interest rates
Maximum Payout
$35,000
Eligibility
- Be a Canadian resident
- Reach the age of majority in your province/territory
- Proof of income
- Rent or mortgage verification
- Government-issued ID
10. LendDirect
If you’re looking for a recurring line of credit without cash advance fees, LendDirect is what you need. LendDirect offers up to $15,000 line of credit to eligible Canadians.
LendDirect has flexible terms and fast approval as you can get funds disbursed in your account within 15 minutes after approval.
Pros
- Flexible terms
- Fast approval
- Flexible requirements
Cons
- High-interest rates
- Credit check
Maximum Payout
$15,000
Eligibility
- Be a Canadian citizen
- Reach 18 years and above
- Have proof of income
- Have an active bank account
- Provide a valid government-issued ID
11. LoanMeNow
Loan Me Now is one of the best lenders in Canada that offer fast payday loans regardless of credit score.
While it has a low loan amount, your chances of approval are high once you meet the requirements. This makes it reliable for individuals with poor credit scores looking for fast loan approval.
Pros
- Fast approval
- Flexible terms
- Poor credit approval
Cons
- Low loan amount
Maximum Payout
$1,000
Eligibility
- Be a Canadian resident
- Reach 18 years of age or above
- Have $1,200 or above as monthly income
- Work for one employer for 2 months
- Possess an active bank account
- Have no active consumer proposal or bankruptcy
12. goPeer
goPeer is Canada’s first peer-to-peer platform
, connecting lenders with borrowers. This P2P platform partners with several lenders to offer competitive payday loans to Canadians.
That said, you can receive up to a $25,000 loan on goPeer with a low-interest rate as low as 8% and flexible terms.
Pros
- Low-interest rates
- Flexible terms
- High loan amount
Cons
- Requires good credit score
- Origination fees
- High requirements
Maximum Payout
$25,000
Eligibility
- Be a Canadian resident for 3 years or above
- Reach 18 years of age or above
- Have 600+ credit score
- Make 15,000 or more as annual income
- Posses a Canadian bank account
- Have less than 35% debt-to-income ratio
- Your credit profile should have at least 3 credit facilities
- Have no active bankruptcy in the past 12 months
13. Borrowell
is a free credit score service providing access to multiple personal loans in Canada.
This company partners with several lenders that offer different types of loans for:
- Debt consolidation
- Business
- Car
- Credit card payment
- Home improvement, etc.
Pros
- High loan amount
- Flexible terms
- Multiple loan types
- Multiple partners
- Free credit score monitoring
Cons
- Credit check
- Not all credits are accepted
Maximum Payout
$50,000
Eligibility
- Be a Canadian resident
- Reach 18 years of age or above
- Have a good credit score
- Have a Canadian bank account
- Provide proof of income
14. Credit Verify
Credit Verify is powered by TransUnion to provide credit monitoring services in Canada. Besides monitoring credit scores, Credit Verify also offers access to payday loans in Canada.
Like Borrowell, Credit Verify partners with several lenders that offer different types of payday loans to Canadians.
Pros
- A 7-day trial at $1
- Multiple partners
- Daily credit monitoring service.
Cons
- Costly service
- Poor customer service
Maximum Payout
N/A
Eligibility
N/A
Final Thoughts
When it comes to payday loans in Canada, there is too much confusing information.
Some payday loans in Canada promise guaranteed approval, but this is not the case. Many applicants are turned down for one reason or another.
There are many reasons why you might be turned down for a payday loan in Canada.
The fact remains that there is no such thing as “guaranteed payday loans no matter what in Canada.”
Don’t find yourself in a situation where you are disappointed with the results of your research on “guaranteed payday loans no matter what in Canada.”
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Guaranteed Payday Loans Canada FAQs
Why do I keep getting denied for payday loans?
Credit scores, past borrowing history and, income are the three most common reasons you may be denied a payday loan.
Can I get guaranteed loan approval with no credit check?
A credit check is also nothing to worry about, as most guaranteed payday loans no matter Canada don’t have a minimum credit threshold for approving loans. This means poor credit scores will not disqualify you from receiving a loan.
Can you get a payday loan if you owe another?
Indeed, you can usually get another payday loan, but it likely won’t be from the same lender or at a worse rate.
Do payday loans affect your credit in Canada?
Payday or cash advance loans do not damage your credit score as long as they are repaid on time and with the associated interest.
Can I get guaranteed payday loans with MoneyReverie?
No. Money Reverie is not a payday loan lender. Instead, it offers access to payday lenders, such as Lending Mate, LoanConnect, Mogo, LendDirect, Borrowell etc.
Hi, I'm Adeola Adegoke. I am a licensed Insurance Broker in Manitoba, and I hold a master’s degree in Mathematical Sciences (with a major in Financial Modeling) from the African Institute for Mathematical Sciences (AIMS), Tanzania.
Also, I have a second master's degree in Statistics from the University of Regina, and I am currently pursuing my Ph.D. in Statistics at the University of Manitoba.
The primary purpose of Money Reverie is to help everyday Canadians make better financial decisions by providing up-to-date financial news and information, reports, product reviews, and government programs.
