Bad Credit Loans Ontario


Many Canadians Go through a period when they require. urgent funds to avoid late penalties, to fund emergency costs, or to pay bills. A short-term loan is best suited for these situations, but if you have bad credit, most banks will deny your requests. For moments like these, you can get a bad credit loans in Ontario from Cash Depot!

What is a Bad Credit Loan in Ontario?

Bad credit loans in Ontario are short-term loans given to people who have a bad credit. These types of loans usually aren’t large and need to be repaid within 2 years. These type of loans are approved and paid out within a fraction of the time needed by banks. This makes short-term loans ideal for people with bad credit who need cash urgently.

Credit Score in Canada

In Canada, credit scores range from 300 to 900. If your credit score is 574 or less, then most financial institutions, banks, landlords, and lenders will consider you to be “financially irresponsible.” They also are more likely to deny you access to their services, even if you need cash urgently. 


When To Get a Bad Credit Loan in Ontario?

Cash Depot’s bad credit loans are a convenient way of getting cash despite having bad credit score. We can give you fast loans to deal with any financial emergency you might encounter. All our borrowers who meet the minimum criteria receive their loans within 24 hours of application, thanks to a user-friendly, simple application process.

Things to Know Before Taking a Bad Credit Loan in Ontario

At Cash Depot, we pride ourselves in offering the best lending services in Ontario. Before we can approve the loan, all applicants for bad credit loans in Ontario must meet the following criteria: 

  • Have a valid checking account for at least three months
  • Receive a salary by direct deposit or check
  • Have a full-time job for at least six months
  • Not be bankrupt or have garnishments against you 
  • Live at the same address for at least six months

Documents needed

During the loan application process, you will be asked to submit copies of some documents. We aim for a simple, streamlined process that only requires a few documents. These include: 

  • Two ID photos and proof of SIN
  • Proof of address (i.e., a utility bill)
  • Two of your most recent pay stubs
  • Voided check/pre-authorized debit form
  • Bank statements from the last 90 days 

At Cash Depot, we request these documents to determine your eligibility for the bad credit loan you have applied for. The documents will be accessed only by authorized Cash Depot personnel. Our data privacy policy ensures all the information shared by our clients isn’t shared with any third parties. 

How much can you get?

Our bad credit loans range from $300 to $3,000. If you have any inquiries about the ideal amount you qualify for, you can talk to any of our experienced experts, and they will offer professional guidance. Always apply for the amount you can repay back without any difficulties. 

No credit check

Cash Depot’s short-term loans don’t consider your credit score to determine eligibility, much unlike the loans offered by banks and other lending institutions. To get a bad credit loan in Ontario, we’ll still look at other factors to determine whether you are eligible for a loan. These factors include: 

  • Your employment status 
  • Your average income

Repayment term

During the bad credit loan application process, you will be asked to sign a loan agreement, which is a legal contract. At Cash Depot, your short-term loan must be repaid within two years. 

Why choose Cash Depot?

Cash Depot has been serving Canadians for over 12 years. We aim to provide financial assistance for people when most needed. We don’t have any hidden fees, and we offer lower interest rates than our competitors.

At Cash Depot, all qualified borrowers can get an instant approval for personal loans. You only have to follow our three-step application process, even if you have a bad credit score: 

  1. Apply: complete the application form online
  2. Accept: sign the loan agreement and return it
  3. Receive your money: get the money in your bank account

Contact us today to get a bad credit loan in Ontario!

At Cash Depot, we don’t believe that a bad credit score should decrease your chances of getting a loan. We provide people with the necessary financial help no matter their credit score. You can contact our team of experts 24/7 to receive the necessary professional guidance you need as you apply for our bad credit loans in Ontario. Our simple application is fast and ensures you can have your loan within 24 hours of submission.

Cash Depot’s Services

We offer flexible repayment terms with a low-interest rate of 18%. We also have additional financial services suitable for people with a bad credit history, including: 

  • cash advance
  • payday loans
  • no-credit-check loans
  • credit consolidation
  • rebuild credit
  • Fast cash loans 

You can talk to our staff and find the Cash Depot service that suits your financial needs. 


What is a short-term loan?

A short-term loan is a service that lets you obtain emergency funds quickly. This fast loan must be repaid within two years or according to the terms indicated in the contract.

What can a fast money loan be used for?

A short-term loan can be used to cover:

  • Bill payments
  • A weekend getaway
  • Unexpected expenses
  • Late fees
  • Fees generated by bounced cheques
  • Emergencies
  • Etc.

Short-term loans are ideal for dealing with urgent financial situations, but should not be considered long-term solutions.

When will you contact me?

After submitting your online application, a member of our team will contact you by phone or email.

We are open Monday to Friday from 10 am to 6 pm (EST).

For any application submitted during our business hours, a Cash Depot agent will contact you within the following hour.

When will I receive the funds?

For any application submitted outside of our business hours, we will contact you within the first hour of the following business day.

For any application completed before 11 am (EST), the funds will be deposited the same day.

For any application completed after 11 am (EST), the funds will be deposited within 24 hours.

Main cities served in Ontario | Bad Credit Loans