Bad Credit Loans Ontario

A bad credit score can ruin your chances of getting a loan. Not only will it take longer and incur higher interest rates, but some institutions might even deny your application. Deposit My Cash Now offers straightforward bad credit loans Ontario, available directly from our website.

Why Choose a Bad Credit Loan?

When times are tough, it can be easy to accidentally end up with a bad credit score. You can’t always plan for unexpected expenses, and sometimes you’re forced to take out loans you can’t pay back on time. If your rating is approaching 500, it could make cash advances difficult to acquire.

Bad credit loans Ontario are the solution. Deposit My Cash Now doesn’t conduct credit checks so you can receive a needed cash advancement no matter your history. Assigning you a risk level based solely on your credit score can sometimes be inaccurate and unfair.

Qualifying for a Bad Credit Loan

Since we don’t do credit checks, we look at your employment and income history to ensure you can pay back the loan. Our criteria include:

Have a cheque account for at least three months;
Be employed full-time for at least three months;
Reside at the same address for at least six months;
Receive income via direct deposit;
No bankruptcy or wage garnishment.

Applying for a Bad Credit Loan

When you apply for financial support, we check only your employment information. Our bad credit loans Ontario require no credit checks so you can receive assistance immediately. Simply complete an online form and our licensed brokers will begin reviewing your application quickly. The documents we need include:

SIN proof;
Photo ID;
Your two most recent pay stubs;
Proof of address (such as utility bill);
Voided check;
Bank statement from the last 90 days.

Our bad credit loans Ontario range from $300 to $3,000. This lets you borrow only the amount you need to keep out of debt. Once you’ve sent in the application, we’ll send back a loan contract for you to sign. Once this is done, the funds will be transferred to your account within 45 minutes.

Short-Term Bad Credit Loans

Our bad credit loans Ontario are short-term advancements. This means they’re designed to help you pay off surprise expenses. As a temporary solution for things like medical bills or cash flow troubles, we don’t recommend borrowing more than needed.

Short-term loans are for emergencies and aim to get you out of debt without putting you in more debt. To assist with this, we won’t accept a new application until you’ve paid off any previous loans.

Repaying a Bad Credit Loan

We charge an interest rate of 15% and accept minimum monthly payments of $300. Our amortization period caps at two years, and we offer three repayment options:

Pay the minimum fee on your next payday;
Pay the minimum fees along with a capital share;
Pay all the fees in one lump sum.

Every missed payment will incur a fee of $40, and the unpaid cost will be deferred to the end of your reimbursement period. If you need to delay a repayment, please contact us at least 48 hours beforehand. Any problems won’t affect your credit score with us, and your rating will increase once you’ve repaid your loan.

Types of Loans

With over 12 years of experience in bad credit loans Ontario, we’ve put together a selection of cash advancements for every situation. Whether you’re looking to grow your credit rating or just need cash for an unexpected payment, our services aim to be quick and straightforward.

Cash Advancement

While regular bank loans can take up to two weeks, bad credit loans Ontario pay out within 45 minutes. We evaluate your loan request on the day you submit it to provide instant financial assistance.

Rebuild Your Credit

A good credit score lets you apply for larger loans with lower interest rates. Our secured credit card can be loaded with money to increase your rating when the bank has denied you a regular credit card.

Payday Loan

Surprise bills at the end of the month can leave you in debt. Payday loans provide financial relief for extra expenses, and you don’t start repaying until your next payday.

Debt Consolidation

It can be challenging to keep track of debts spread across various cards and loans. Our debt consolidation service helps you combine your bills into a single payment. You can then take out a single loan with a low interest rate instead of multiple advancements.

Bad Credit Loan

Even if you’re in desperate need of a loan, banks will deny your request if your credit score is low. Luckily, our bad credit loans Ontario makes needed loans available to anyone as we check your employment records instead of your credit rating.

No Document Loan

Sometimes extra bills can come out of nowhere. When you don’t have time to go through a lengthy loan application at the bank, our no document loans can help. All we require is an online form and contract signature to receive a loan of up to $3,000.

Conclusion

Our bad credit loans Ontario services provide much-needed relief from surprise expenses. Whether you’ve been sprung with an unexpected hospital bill or need vehicle repairs, our loans provide near-instant assistance.

Many people are left with a low credit rating after being forced to take out loans for these payments. Building up your score again is not easy, and we don’t believe you should ever be denied the help you need. That’s why we don’t conduct credit checks, and all it takes is a simple form to receive emergency funds in under 45 minutes.