Bad Credit Loans Alberta

The average credit score for Canadians in Alberta is 637.5. This is considered a poor credit score, and it can be challenging to secure a long-term loan with a score below 650. If this is the case for you, like many other Canadians, your score has most likely been negatively impacted 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 were late with some payments due to being laid off. Maybe you were recovering from an accident. Many different factors can affect your credit score and make it nearly impossible to secure a loan at most financial institutions. 

Luckily, there are bad credit loans in Alberta from Cash Depot to help you through those times where you need a little extra money.

What is a Bad Credit Loan in Alberta?

A bad credit loan is a short-term loan available to individuals with a poor credit score that most banks and financial providers would otherwise refuse. These loans are processed quickly, making them ideal for unforeseen situations, such as repairing your car or paying for medical bills or tuition fees. 

For this type of short-term loan, your credit score will not impact your application. Also, this loan will not be registered with the credit bureau, so your current credit score will not be affected. 

You can apply for a short-term loan from Cash Depot for an amount between $300 and $3,000, with a repayment period of usually six months. Cash Depot offers an extremely competitive interest rate of 18%, which means if you were to take out a loan of $300, you would pay back $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. The form will ask how much you want to borrow, along with some of your personal details. There will be no need to submit any documents at this point. 

Once you have submitted the online application form, the process is started. We will evaluate your application and let you know within one hour if your application has been successful. Please note that if you submit your application over a weekend or on a public holiday, you may have to wait slightly longer for an agent to contact you with the results. If the application is successful, you will receive your money within 24 hours or one business day.

Once your application has been approved, you will get a copy of the agreement to review. This agreement needs to be signed and sent back to our offices 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 help you obtain much-needed finances for those unexpected situations when your poor credit score prevents you from getting a loan elsewhere.

It is the ideal solution when you’re dealing with an emergency. These short-term loans are not restricted and can be used for various unexpected expenses, such as bill payments, late fees, medical emergencies, and more. These types of loans should not be considered a long-term solution to your financial issues.

Despite having a higher interest rate and lower repayment terms, a short-term loan also has its own advantages. Sometimes, a small short-term loan is all you need to change your 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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