Installment Loans Ontario

The Smart Payday Loan Alternative

  1. Installment Loans Ontario

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Installment Loans Ontario

Did you have some unexpected expenses this month? Are you having trouble making ends meet? If so then 514Loans is here for you. By quickly getting you the financial support you need with an installment loan, 514Loans can help you overcome a shortfall in your monthly budget. 

514Loans has helped people all over Ontario, including many with bad credit, overcome the economic obstacles that life has set in their path and put them on the road to financial security. We have been able to help many people in difficult situations because we offer installment loans; a more affordable, more flexible and less risky alternative to payday loans.

What are Installment Loans?

Installment loans are a great way for anyone to quickly address their short-term financial needs. These personal loans are cheaper and safer than payday loans because they offer longer repayment terms and lower interest rates than a payday loan, which will help you avoid a costly debt cycle and minimize your financial stress.

Many people feel forced to accept payday loans because of past credit issues, but with 514Loans a weak credit score won’t be held against you. Our loan application process is quick and easy because a credit check is not required, which is why you can get your installment loan amount approved the same day and have the funds in your bank account before you know it.

No matter where you live in Ontario, 514Loans can get you a loan up to $3,000 quickly deposited to your account by completing a short online form. Avoid the hassle and stress that comes with dealing with financial institutions by letting 514Loans work for you.

How Can an Installment Loan Help?

Of all the options on the market for personal loans, installment loans are a great option for people with little to no credit history or bad credit. 

This financial support can be used to pay for unplanned expenses, like automotive repairs, dental bills, or anything else that comes up. They can be a true lifesaver when it comes to things like debt consolidation for nagging bills because they can help you avoid the exorbitant interest rates charged by payday lenders.

Your personal loan can be paid back through at a lower interest rate than with a payday loan, and the transparent process will let you know just how much you need to budget per month to pay it back. 514Loans makes obtaining a loan a stress-free experience because you have options when it comes to paying off your loan – installments can be paid weekly, bi-weekly, bi-monthly, or monthly – the choice is yours.

Installment Loans Ontario

Our loans are indeed called “Installment Loans“.

Please borrow responsibly.

Instant Same Day Approval Even With Bad Credit

What Can Installment Loans Be Used For?

At 514Loans, our goal is to provide the short term loans Ontario needs, and to do it quickly. By streamlining the application process, we can help you start spending right away. We believe that you know your own situation best, and so we leave it up to you to decide how best to use your own money.

The following are just some of the examples of how you can use your installment loan:

  • Eliminate credit card debt
  • Get a new or used car
  • Boost your small business
  • Pay medical expenses
  • Use it for school expenses
  • Take a vacation
  • Renovate your kitchen
  • and more!

With some of the best Ontario loans online, you’ll get a great deal at 514Loans, along with low interest rates and flexible terms.

Fast Response

Customers since 2017

Hour Approval



Apply Online and Get Cash Fast


1. Apply Online


2. Get Same Day Approval

3. Money in Your Bank Account

Easy Installment Loans

Where Can I Get an Installment Loan?

We have already helped thousands of people, including many with bad credit, secure their online loans. Ontario residents can quickly and securely apply for their installment loan without the need for a credit check. 

Whether you are in Ottawa, Toronto, or Thunder Bay the best place to find installment loans in Ontario is from the comfort of your own home through 514Loans’ convenient online portal.

Regardless of your credit situation, securing your installment loan is a straightforward process.

What do I Need?

Thanks to 514Loans, obtaining loans in Ontario has never been easier. To get access to our installment loans, there are only a few requirements. If you are:

  • A Canadian citizen over the age of 18
  • The holder of an active bank account
  • Employed full time
  • Not engaged in a consumer proposal or bankruptcy process

Then your loan is only a few clicks away! No credit checks, no intrusive questions, no hassle. Forget your credit issues and get your loan approved today!

How it works

Who we are

We are an online financial service provider. We work with licensed private lenders, to provide short term financial solutions, that are significantly less expensive and more flexible than a conventional payday loan. Good credit, bad credit, it doesn't matter. We will assist you in finding the financial product that suits your needs.

Fees and Interest

Depending on the risk associated with the application, Our lenders charge an APR ( Annual percentage rate) of 22% to 32%. Membership fees do apply. Please refer to our "Example Cost of Borrowing" section for more information.

Terms of Repayment

Our installment loans can be paid weekly, bi-weekly, bi-monthly, or monthly. The payment schedule depends on the customer's pay frequency. Unlike payday loan providers, our lenders offer loan terms of 90 and 120 days. Extended payment schedules are available for loans over $1000.

What Makes us better than Payday Lenders

Typically, Payday Loan providers require borrowers to finalize entirely on their next paycheck. The costs associated with payday loans vary from province to province.

The ABR (Annualized Borrowing Rate) for

  • payday loans ranges between 390% to as high as 560%.
  • installment loans range between 190% and 200%.

Our ABR includes all fees and interest associated with our installment loan product. Our cheaper ABR and more flexible terms make our product a better choice for Canadians in need of a short term financial solution.

Example Cost Borrowing

$300 borrowed over 3 months on a bi-weekly payment schedule, will cost the borrower 6 payments of approximately $75. The total amount reimbursed is roughly $450.00. This includes all membership fees as well as Interest and capital.

Missed Payments

Our lenders charge a $50 fee for any returned payment due to NSF (Non-Sufficient Funds). The missed payment, as well as the lenders' fee, are added to the end of your payment plan schedule. Two additional payments are extended to the payment plan.

Our Lenders charge a fee of $35.00 to reschedule a payment and extend the payment plan.
The rules for rescheduling payments are the following:

  1. A client can not reschedule the first payment.
  2. A client can not reschedule two payments in a row
  3. A client can not reschedule more than two payments per loan term.

Borrow Money Responsibly

This type of financing is meant to be used as a bridge to solve an immediate financial crisis. Interest rates are relative to risk and may be higher than conventional banking institutions.

Please note that having Multiple Installment Loans or Payday Loans can result in long term financial burdens. Please give us a call if you are caught in a loan cycle due to predatory loan practices. Our agents will assist you in finding a consolidation product that will prevent costly collections procedures as well as a negative impact on your credit file.


Please borrow responsibly.

Applying Online is Safe with us

Your important personal information is encrypted and protected using Bank Level Encryption Security. We are HTTPS secure, and our users can expect a safe and private online experience when using our website.

How to Qualify for a Personal Loan

Our application process is simple and easy on PC, tablet, or mobile phone. The following is criteria is necessary to qualify for a loan:

  1. You must be a Canadian citizen
  2. You must be over 18 years of age
  3. You must be employed full time.
  4. You must have an active bank account.
  5. Must not be engaged in a consumer proposal or a bankruptcy process.

Same Day Money Deposit

In your bank account

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Frequently Asked Questions

What is a cash advance?

A cash advance is a short term financial solution, often used to cover car repairs, collection notices or any other type of unexpected expenses. Short-term cash advance services fulfill a need not met by traditional financial institutions, offering a less costly and often more desirable option for short-term loans.

A non-traditional cash advance is often the best way to receive a quick loan. Industry group CFSA reports that non-sufficient funds (NSF) cost consumers tens of billions of dollars each year from banks and credit unions. CFSA notes that millions of people each year “choose payday advance as a dignified, discreet, and often less costly solution for cash flow problems, without asking family for money or risking personal items as collateral.”

Many applicants also struggle to attain traditional financing despite having excellent credit. Many of them need quick access to working capital. Online lenders have emerged as a welcome alternative for borrowers everywhere. Online lenders are increasingly being used by consumers and businesses to get fast access to capital outside of banks. Also known as marketplace lenders, they “have leveraged low operating costs, minimal regulations, Big Data, and technology streamlined for a mobile generation to mediate terms between everyday borrowers who want quick access to cash.

What are the requirements to get a cash advance?

We like to keep things simple.

  1. You must be over 18 years of age
  2. You must be a Canadian citizen
  3. You must be employed full-time
  4. You must have an active bank account
  5. You must not be engaged in a consumer proposal
  6. You must complete an IBV (Instant Bank Verification)

    I am Self Employed. Can I apply for a cash advance?

    Absolutely! Just as long as our agents can verify a frequent source of income through your IBV (Internet Banking Verification).

    How much money am I allowed to borrow?

    Our loans range from $300 to $3000.

    However, ou lender's credit risk may assign a different amount than originally requested. This assures that the borrower will be able to reimburse the loan without any negative impact on their budget and/or financial situation.

    When can I expect the funds to arrive?

    Your funds are deposited automatically as soon as we receive your signed electronic contract. Deposits typically happen on the same day; however, some deposits can take up to 24 hours to appear in your bank account.

    What do I need to email or fax in?

    You may fax or upload your documents during your application process.

    The required documents are:

    1. A copy of your driver's license
    2. A proof of residence (any most recent utility bill with your name and address indicated on it)

    Areas Served

    Proudly serving Canadians with no credit check installment loans, the best alternative to payday loans and the go-to alternative financial services. Thanks to you, we are the fastest growing installment loans provider across the country.

    Where are you from?


    Winnipeg, Dauphin, Morden, Portage La Prairie, Selkirk, The Pas, Winkler, Steinbach, Thomspon


    Montreal, Laval, Quebec, Gatineau, Lasalle, Terrebonne, Longueuil, Levis, Brossard, Sherbrooke, Repentigny, Saint-Hubert, Verdun


    Calgary, Edmonton, Lethbridge. Red Deer. St. Albert, Grande Prairie, Airdrie


    Toronto, Brampton, Mississauga, North York, Ottawa, Scarborough, Hamilton, Kitchener, London, Etobicoke, Windsor, Oshawa, Barrie, Richmond Hill, Brantford, Markham, Niagara Falls

    Nova Scotia

    Halifax, Cape Breton, Dartmouth, Truro, Sydney

    New Brunswick

    Moncton, Saint John, Fredericton

    Prince Edward Island

    Charlottetown, Summerside

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