Bad Credit Loans Alberta

The average credit score for Albertans in Canada is 637.5. This score is typically considered poor, making it challenging to secure a long-term loan with a rating below 650. If your situation aligns with that of many other Canadians, your credit score has likely been adversely affected by unforeseen circumstances in your life.


If you have bad credit or no credit at all, Cash Depot has got you covered. We are a private lender and offer no credit check loans easily and quickly. We do not share your personal information.

Perhaps you fell behind on some payments due to a layoff, or you were recovering from an accident. Numerous factors can impact your credit score, making it nearly impossible to obtain a loan from most financial institutions.

Fortunately, Cash Depot offers bad credit loans in Alberta to assist you during those times when you require some additional funds.

What is a Bad Credit Loan in Alberta?

A bad credit loan

is a short-term loan designed for individuals with a poor credit score, a circumstance where most banks and financial providers would typically decline a loan request. These loans are processed swiftly, making them well-suited for unexpected situations like car repairs, medical bills, or tuition fees.

With this type of short-term loan, your credit score won’t affect your application. Furthermore, these loans won’t be reported to the credit bureau, so they won’t impact your current credit score.

You can apply for a short-term loan from Cash Depot ranging from $300 to $3,000, typically with a repayment period of six months. Cash Depot offers a highly competitive interest rate of 18%. For instance, if you were to borrow $300, you would repay $46.22 per week for six months.

How does a Bad Credit Loan Work?

The process of applying for this short-term loan has been simplified for your convenience. You can apply by completing an online form on our website, providing details such as the desired loan amount and some personal information. No document submission is required at this stage.

Once you’ve submitted the online application form, the process begins. We will assess your application and notify you of the outcome within one hour. Please note that if you apply on a weekend or a public holiday, it may take a little longer for an agent to contact you with the results. If your application is approved, you will receive your funds within 24 hours or one business day.

After your application is approved, you will receive a copy of the agreement to review. This agreement must be signed and returned to our offices along with the following supporting documents:

  • Two photo IDs and proof of your SIN;
  • Utility Bill (proof of address);
  • Two most recent pay stubs;
  • A voided check and/or a pre-authorized debit form;
  • Bank statements from the last 90 days.

How Can a Bad Credit Loan from Cash Depot Help Me?

A short-term loan from Cash Depot can provide you with much-needed finances for those unexpected situations where your poor credit score might prevent you from obtaining a loan elsewhere.

It is the ideal solution when you’re facing an emergency. These short-term loans are versatile and can be used for various unexpected expenses, including bill payments, late fees, medical emergencies, and more. However, it’s essential to note that these loans should not be considered a long-term solution to your financial issues.

Despite their higher interest rates and shorter repayment terms, short-term loans also offer advantages. At times, a small short-term loan is all you need to change your financial future. It can help you consolidate debt and rebuild your credit score.

Things to know about Bad Credit Loans

There are a few typical features of a short-term loan that you should be aware of before applying:

  • These loans are processed quickly;
  • They have a higher interest rate than other loans;
  • They have shorter repayment terms, usually between six months and two years;
  • Although credit checks may not be required, there are still other requirements before you can be approved.

How Can I Qualify for a Bad Credit Loan in Alberta?

Although the process of applying for a short-term loan at Cash Depot is much easier than applying at a bank, there are still a few requirements that you need to meet. Don’t worry; your credit score is not one of the requirements. 

The requirements for a short-term loan from Cash Depot are:

  • Having a valid checking account for more than three months
  • Having a full-time job for the last six months
  • Having the same residence for at least six months
  • Having your salary paid by direct deposit or cheque
  • Not having declared bankruptcy or having any garnishes against your pay

Bad credit can be a challenging obstacle that can make it nearly impossible to get a loan when you need one. Life is unexpected, and no matter how well you prepare, there may still be surprises along the way. For a bad credit loan in Alberta, trust Cash Depot and make those financial stresses go away.


Let’s look at a few of the most frequently asked questions to address any concerns you may have about bad credit loans in Alberta.

Can I Get a Bad Credit Loan Without a Payslip?

Unfortunately not, because one of Cash Depot’s requirements is full-time employment for at least six months. Then, once your loan is approved, you will need to supply three months’ worth of payslips.

When Will I Receive My Funds?

Once your loan has been approved and you have sent back the signed agreement with the requested supporting documents, your payment will be processed within 24 hours or one business day.

Can I Apply for a Cash Advance if I’m an Entrepreneur? 

We only accept applicants who receive a salary via direct deposit. 

Main Cities served in Alberta | Bad Credit Loans

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