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Loans Canada review

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

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

Loans Canada is a Canadian broker aimed at borrowers with poor credit who want a no-fee application across personal, payday, car and business lending. Its offer score is 3.9, held back by APR reaching 9.99% to 35% and a soft prequalification step before any firm offer.

Key facts

Best for
Adults in Canada with poor credit who want to compare several lenders without paying to apply.
APR
9.99% to 35%↗
Loan amount
CA$250 to CA$50,000↗
Term
3 to 60 months↗
Arrangement fee
CAD 0 (all Loans Canada services are free, no upfront fee)↗
Credit check
Soft prequal↗
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.↗
Lender type
Broker↗
Eligibility
18 or older and resident of a Canadian province↗
Loan types
Personal, Payday, Debt-consolidation, Car, Business↗
Credit needed
Poor↗
Legal entity
6069321 Canada Inc↗
Headquarters
Canada↗
Founded
2012↗
Support channels
Email, Phone, Help-centre↗
Official website
loanscanada.ca

Mortgages

Fixed period
0.5 to 10 years↗
Maximum loan to value
95%↗
Product fee
CA$0↗
Purpose
Purchase, Remortgage, Home-equity↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Elsewhere
WikidataLinkedInX

Pros and cons

Pros

  • No upfront fee: CAD 0 (all Loans Canada services are free, no upfront fee) and a product fee of CAD 0 on the services it arranges.
  • A soft prequalification check, soft prequal, so an initial enquiry does not read as a hard search.
  • Loan sizes of CAD 250 to CAD 50,000 with terms of 3 to 60 across personal, payday, debt consolidation, car and business lending.
  • Support runs on email, phone and help centre.

Cons

  • APR reaches 9.99% to 35%, so the cheapest offers sit well below the top of the range.
  • Credit is set at poor, which limits the offers available to many applicants.
  • It works as a broker, broker, so the rate and lender you end up with come from a partner rather than from one lender.
Loans Canada

Ready to try Loans Canada?

Scored 8.8 / 10 by SumCue.

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Who it suits

  • Canadian adults, 18 or older and resident of a Canadian province, shopping for personal, payday, car or business loans.
  • Borrowers with poor credit who need a soft check before a full application.
  • People consolidating several debts into one payment.

Who should look elsewhere

  • Anyone wanting a rate from a named lender upfront, since it works as a broker, broker.
  • Borrowers who need the lowest cost, because APR runs as high as 9.99% to 35%.
  • Readers outside Canada, where 18 or older and resident of a Canadian province limits the market.

Who runs it

Loans Canada is run as 6069321 Canada Inc, a broker, broker, based in Canada and trading since 2012. It arranges personal, payday, debt consolidation, car and business loans, personal, payday and debt consolidation, plus mortgages, and holds no fee of its own: CAD 0 (all Loans Canada services are free, no upfront fee) and a product fee of CAD 0. Support runs on email, phone and help centre.

How Loans Canada compares

Where Loans Canada is available

Available
Canada

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

Frequently asked questions

What does it cost to apply through Loans Canada?+

Applying carries no upfront fee, CAD 0 (all Loans Canada services are free, no upfront fee), and the product fee on the services it arranges is CAD 0. What you repay depends on the partner lender: APR runs 9.99% to 35% and the term you pick, 3 to 60, sets the total. The representative example is a small loan repaid monthly, and the total repaid includes the partner's optional loan protection.

What credit score do I need to qualify?+

Loans Canada sets the credit requirement at poor, so it is aimed at applicants whose credit history is weaker than a bank's typical threshold. Eligibility also needs 18 or older and resident of a Canadian province. The first step is a soft prequalification, soft prequal, before a full application goes to a partner lender.

How much can I borrow, and for how long?+

Loan amounts run CAD 250 to CAD 50,000 and terms run 3 to 60, so a small short loan and a larger longer one are both possible. The types on offer cover personal, payday, debt consolidation, car and business lending, personal, payday and debt consolidation, and the smallest amounts sit at the bottom of the CAD 250 to CAD 50,000 range.

Can I get a mortgage through Loans Canada?+

Mortgage lending is part of the range, covering purchase, remortgage and home equity, purchase, remortgage and home equity. The maximum loan to value is 95%, and fixed periods run 0.5 to 10. As a broker, broker, the terms on offer come from a partner lender rather than from Loans Canada itself.

Does Loans Canada lend its own money?+

No. It is listed as a broker, broker, and its legal entity is 6069321 Canada Inc, based in Canada. That means the lender, rate and terms are set by a partner, which is why APR is shown as a range of 9.99% to 35% rather than a single figure.

Which countries can apply?+

Loans Canada serves a single market: applicants must meet 18 or older and resident of a Canadian province, so an adult resident of a Canadian province. Outside Canada the product is not offered, and a Canadian loan is quoted in Canadian dollars, as shown in the CAD 250 to CAD 50,000 range.

How do I get help while my application runs?+

Support runs on email, phone and help centre, so you can email, call or work through the help centre once an application is with the partner lender. The company has operated as broker since 2012, trading under the entity 6069321 Canada Inc.

What will a payday loan from Loans Canada cost?+

Payday lending is one of the loan types offered, personal, payday and debt consolidation, priced within the same 9.99% to 35% APR range as the other products. The smallest amounts start at the floor of CAD 250 to CAD 50,000, and the shortest term at the start of 3 to 60, with no upfront charge on the application.

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

Adults in Canada with poor credit who want to compare several lenders without paying to apply.

8.8/10See alternatives