The Intelligent Loan Solution $300
Simple Application, Quick Approval
Loans in British Columbia
514loans is offering BC residents a safer and more constructive non- prime loan solution than payday loans. Our lender has been offering loans in British Columbia since 2002 and understands the needs of those seeking financial assistance.
Not having a good credit score can sometimes leave the borrower with no other choice but to take out a payday loan. With a cost of $15 per $100 borrowed, payday loans are high cost and should be avoided. Furthermore, these loans have to be reimbursed on your next paycheck as payday lenders offer terms of only 14 days.
Don’t get stuck taking out a 300 loan for 14 days. Let 514loans provide you with a better alternative.
We do not do credit checks. Applicants are verified through an IBV (Instant Banking verification). Our credit risk analysis is performed by verifying your banking transactions.
In order to apply for a loan at our establishment, the you must:
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Be over 18 years old
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Have a full time job
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Have a paycheck that is automatically deposited
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Not be in Bankruptcy status
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Have an active bank account ( for more than 90 days)
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Complete an IBV (Internet Banking Verification)
Your loan application may be refused if
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You have too many loans
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Credit risk analysis yields a negative result
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You have a revenue of less than $1200 a month
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You have a bank account that is less than 3 months old
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Your request is linked to online fraudulent activity
Our personal loan solution can be paid in a term of 90 to 120 days and costs more than 90% less than a payday loan. Our flexible payment plans allow the borrower to remain loyal to their budget and avoid falling behind on future financial obligations.
Fast Approval Even With Bad Credit
Student Loans BC
Are you a BC student in need of a short term loan? Perhaps your post secondary education is costing a little more than you originally planned. If you are a student and have a full time job, you can qualify for a better cash advance. Larger credit limits and flexible loan terms make our product the better choice for students in need of a fast loan.
Please note that students with a part time job or receiving benefits from studentaid in BC may be refused.
Fast Response
56,000
Customers since 2017
1h
Hour Approval
APPLY ONLINE AND SECURE FUNDS QUICKLY
1. Apply Online
2. RECEIVE SPEEDY APPROVAL
3. FUNDS DEPOSITED INTO YOUR BANK ACCOUNT
Online Loans BC
Our fully automated system allows us to process, approve and fund online loan applications safely and quickly. Your journey begins with our simple online loan application that can be completed on your computer, cell phone or tablet.
Processing begins as soon as we receive your application and you will receive our electronic loan agreements immediately after instant approval.
Use your computer, tablet or cell phone to sign our documents and we will deposit the funds directly to your bank account.
Our lenders charge an interest rate of 22% to 32%
Below is an example cost of borrowing associated with our loans for returning customers
Please note that pricing for new customer loans may be different from this example. Customers are offered a more advanced loan product and a preferred customer rate after their third renewal.
Loan Amount: $300.00
Number of payments: 6
Bi weekly payment amount: $69.34
Total customer obligation: $416.04
Term: 3 months
Frequently Asked Questions
Where is the easiest place to get a loan?
Getting a loan with us easy as pie! First of all we don’t care about your credit score. Our partner lenders approve borrowers even if they have bad credit. Our automated system further facilitates the process offering state of the art technology and automation. Our process is easy fast and secure.
How can I get a loan with Bad Credit in Canada?
Getting a loan with bad credit should not be difficult. Bad credit or good credit it doesn’t matter. We will process your request regardless of your credit score.
What is an IBV?
An IBV (internet banking Verification) is a banking verification system that gives us read only permission, to verify a potential borrower’s banking transactions. The process utilizes bank level security and has assisted the segment in providing a safer and more efficient environment for all users.
Canadian Banks
Scotiabank
Royal Bank
TD Bank
CIBC
BMO
Desjardins
ATB Financial
HSBC
Alterna
Canadian Western
First Nations
Laurentienne
Manulife
National Bank
Tangerine
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
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payday loans ranges between 390% to as high as 560%.
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installment loans from 514loans range between 22% and 32%.
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 98 days on a bi-weekly payment schedule, at an APR of 32%, will cost the borrower 7 payments of approximately $44.99. The total amount reimbursed is roughly $314.93, of which $14.93 is the cost of borrowing. 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:
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A client can not reschedule the first payment.
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A client can not reschedule two payments in a row
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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:
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You must be a Canadian citizen
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You must be over 18 years of age
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You must be employed full time.
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You must have an active bank account.
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Must not be engaged in a consumer proposal or a bankruptcy process.
SECURE FUNDS DEPOSITED ON THE SAME DAY
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?
British Columbia
Vancouver, Surrey, Coquitlam, Burnaby, Abbotsford, Kelowna, Surrey
Saskatchewan
Saskatoon, Regina
Manitoba
Winnipeg, Dauphin, Morden, Portage La Prairie, Selkirk, The Pas, Winkler, Steinbach, Thomspon
Quebec
Montreal, Laval, Quebec, Gatineau, Lasalle, Terrebonne, Longueuil, Levis, Brossard, Sherbrooke, Repentigny, Saint-Hubert, Verdun
Alberta
Calgary, Edmonton, Lethbridge. Red Deer. St. Albert, Grande Prairie, Airdrie
Ontario
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
514loans - Payday Loan Alternative
British Columbia
Monday: 9 AM - 6 PM
Tuesday: 9 AM - 6 PM
Wednesday: 9 AM - 6 PM
Thursday: 9 AM - 6 PM
Friday: 9 AM - 6 PM
Saturday: CLOSED
Sunday: CLOSED
Payday Loans Service Areas
