Online Loans

The Smart Payday Loan Alternative

Online Loans

Where can I borrow money from online?

For many years the most common place to visit when you wanted to borrow money was your bank. With the rise of the internet, this is still a possibility – banks can lend you money from their brick and mortar buildings as well as through their websites.

The problem with borrowing from a bank, either onsite or online, is that their application process can take a very long time and there may be very particular criteria you need to match. With that in mind, many people turn to other places to borrow money online and can end up getting a payday loan.

Payday loans are less than ideal for a number of reasons, not the least of which is a very high-interest rate. The borrowed money needs to be paid back quickly – often within a week or two – and you don’t really gain any breathing space.

You can apply for a credit card and try to get a cash advance online, but in the end, none of these ways of borrowing money online are perfect.

Borrow online and Payback in 120 days

Another option is to choose to borrow money online with an installment loan. Installment loans are simple to apply for, even if you have poor credit.

You’ll need to provide a few basic details about yourself, and possibly upload 3 months of bank statements. You can be approved on the same day, and the money you need can be in your account within hours.

For short term loans of up to $1500 this is an ideal situation even if you feel you won’t pass a credit check.

The interest rates are higher than going to a bank, but not too much higher – and it’s certainly cheaper than borrowing on a credit card. The amount you borrow needs to be paid back within 90 to 120 days in installments, so you don’t need to pay the whole amount back in one go as you would with a payday loan.

Online loans that are easy to be approved for and can get the cash in your hand quickly are the best solution for the majority of people and there’s nothing stopping any Canadian from applying for one. It’s simply borrowing money online the way it was meant to be.

Online Loans

Our Online Loans are called “Installment Loans“.

Please borrow responsibly.

Instant Same Day Approval Even With Bad Credit

Better than Payday Loans

514loans, together with Greenriver Finance, has created the underlying technology and infrastructure for providing Canadians fast access to a better short term financial solution. Installment loans are more flexible and cost substantially less than a Payday Loan. The difference in cost and term length results in eliminating the need to cycle loans. This helps the borrower to establish a budget better that better suits their future financial obligations.

  • Faster processing due to our underlying platform
  • Less expensive ABR (Annualized Borrowing Rate)
  • Longer loan terms than Payday Loans
  • Preferred customer privileges with even cheaper rates and longer terms (for returning customers)
  • A better user experience

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

Trusted Partners and Providers

EFT Canada

is our reliable provider of advanced electronic payment services

Decision Logic

is our trusted partner for bank transaction verification


provider of risk management reporting for our valued clients

Interac e-Transfer

is one of our methods of processing electronic payments to our clients safely and fast


is our trusted partner for real-time instant bank verification


is our trusted partner for risk management


is our trusted partner for accounting automations

Green River Finance

is our trusted lending partner

Easy Installment Loans

Installment Loans Across Canada

We offer short term loans as quickly as possible across Canada. A payday loan alternative. No credit checks and bad credit accepted. Same day quick response from our loan agents.

Your Privacy is Important

We take your privacy very seriously. All personal documents are handled with the outmost security. We use SSL encryption. Our site is accessed over HTTPS 100% of the time for all users.

Convenient, Modern Alternative to Traditional Payday Loans

Applying for a loan has never been easier!

Your journey begins with our three-step online loan application.

  1. Select your loan amount and complete our online application.
  2. Upload the two required documents.
  3. Complete your IBV (internet banking verification).

Our fully automated Loan Management Software, allows us to process your request faster than most payday loan providers in the country, hands down!


Approval in Minutes

We are all about user experience.

Our state-of-the-art loan management software is equipped with an automated decision-making module, enabling us to approve your application in no time!

Your installment loan is automatically funded as soon as you sign our online paperless loan agreements.

Received Funds

Now just kick back and relax. We will automatically deposit the funds into your bank account. Please note that although most loans can be funded on the same day, it can take up to 24 hours in some cases.

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.

Installment Loans vs Payday Loans

Payday Loans

A Payday loan is a short term financial solution that is usually reimbursed in one lump sum, on the borrower’s next paycheck. The ABR (Annualized Borrowing Rate) of a Payday Loan is 390% to 560% and can be higher depending on the province. The product is available in many brick and mortar locations, as well as numerous online capacities across Canada.

Downside of Payday Loans

Though obtaining a Payday Loan is relatively simple, the expensive fees and short loan terms often complicate the situation. When payday comes, borrowers don't have the money to reimburse the debt in full, and they are often forced to roll the principal over into a new Payday Loan.

Unlike credit cards or Installment Loans, Payday Loans can't be paid off in installments, thus, creating a loan cycle that can be catastrophic to one's budget and economic well being.

Installment Loans

Installment loans are 50% to 60% cheaper than Payday Loans and are available with longer repayment terms.

The borrower benefits from a straightforward reimbursement process and significantly reduces the risks associated with costly and dangerous loan cycles.

Furthermore, the borrower also benefits from an automated stress-free payment plan that enables him to budget more efficiently for his future financial obligations.

Moreover, the borrower can further benefit with reduced rates and increased credit limits with every successful loan reimbursement.

Find out why Canadians are switching to this better alternative. Our agents are waiting to serve you.

What are you waiting for? Hit the "Apply Now" button!

Happy Customers

Wonderful service and customer service

Annie Levesque 
Annie Levesque

Excellent, very happy doing business with you people.


Amazing group of representatives that are there for you especially in an emergency situation or any time of need.
They definitely take their time and patience and go through all the details trying to offer you the best service no matter what :)!!!
Thank you so much for your help I really sincerely do appreciate it.

Terika Peters 
Terika Peters

Excellent – no reservations, I would recommend this company to anyone.


They are a very knowledgeable company and very friendly to work with when getting a loan. They try and accommodate you the best they can are very helpful. Would use them again if ineed of a loan.


Please give your feedback

We all fall on hard times

Installment loans can see you through until skies look a little brighter

Apply NowRenew Now

Short Term Loan Requirements

Offering a great customer experience is our number 1 priority.
To expedite the process, you must provide us with the following:
  • Photo ID (ie. Driver’s license or passport)
  • Proof of Address ( ie. Phone bill, Electric bill, Cable bill, Gas bill, or any most recent document from your financial institution, where your name and address are displayed)

Your application can be submitted online in 5 short minutes by hitting the "Apply Now" button.

We look forward to assisting you in finding the best financial product for your needs.

Same Day Money Deposit

In your bank account

Apply NowRenew Now

Canadian Banks

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)

    Consolidate Your Debts and Get out of Dangerous Loan Cycles

    Debt Consolidation

    Are you caught in a loan cycle?

    514loans is here to help! We work with a non-profit corporation to help Canadians get out of loan cycles.

    We can help you get your paycheck back!

    If you are struggling with multiple loans that are forcing you to a proposal or a bankruptcy, give us a call now and let us help you consolidate your debts into one small monthly payment.

    Debt Counselling

    If you are unfamiliar with how the credit reporting system works or if you would like guidance in understanding and improving your credit standing, please contact a non-profit credit counsellor at Consolidated Credit by calling 1 (844)-871-1426 for a free, no-obligation consultation or complete a form: click here for a free consultation.

    Credit counsellors can help to assess your situation, clarify errors on your report and outline the best options to rehabilitate your credit through repayment of debts at lowered interest rates. This will enable you to qualify for new credit in the near future.

    Credit counsellors can help to assess your situation, clarify errors on your report and outline the best options to rehabilitate your credit through repayment of debts at lowered interest rates. This will enable you to qualify for new credit in the near future.

    Debt Consolidation Programs

    We work with a non-profit credit counseling company.

    We frequently recommend to our clients to explore all of their financial options through a professional counselor at Consolidated Credit Counseling Services of Canada. This approach allows our clients to decide for themselves which option is best for them and their financial well being.

    If you are struggling with too many loans, please click on the free consultation button on this page, and see if you qualify for the debt relief you deserve.

    Benefits of a Debt Management Program (DMP) w/ Consolidated Credit

    • Lowered monthly payments to creditors
    • Lower interest rates than credit cards, Payday Loans or Installment loans
    • Get a clear understanding of how to budget to avoid loan cycles in the future
    • Have more money left on your paycheck to begin saving again.

    Disadvantages of a Debt Management Program w/ Consolidated Credit

    • Any unsecured account(s) consolidated in a DMP will be permanently closed in order to achieve the reduced interest rate(s).
    • RBC and Canadian Tire Mastercard are “full-budget creditors” meaning they will review the prepared budget and credit file to ensure all unsecured creditors have been included on the DMP before they agree to be included and that no budgeted expenses are unrealistic for a hardship circumstance.
    • Scotiabank will review the same to ensure that all of their unsecured products have been included prior to agreeing to our proposal.

    Unsecured Loans

    Even With Bad Credit

    Apply NowRenew Now

    Offering Installment Loans even with Bad Credit

    Procuring extra funds in times of need shouldn’t be a headache. The repayment process ought to be similar to the rest of your monthly bills, such as rent, mortgage payments, mobile/data plan, and car expenses.

    Installment loans offer the bridge you’re looking for when you’ve landed in a spot of financial trouble. The small and steady payments allow you to plan your budget accordingly. You can usually obtain prompt approval for these loans.

    Below, are some of the most convenient times to take out an installment loan.


    It doesn’t matter who you are. You need a roof over your head, but maybe you’ve recently come across an unexpected expense that caused you to be short on your rent. Or you’re going through a divorce, are searching for a new place where the first and last month’s rent is required.

    It could be time to square up with your landlord, your savings have dwindled, and you’ve only realized your lack of funds a day or two before rent was due.

    Thankfully, an installment loan will help you in 2 ways. First and foremost, you’ll have the quick cash to cover this month’s rent. If you budget accordingly, the flexibility of Installment loans will also help you avoid falling behind again in the future.

    Payments will be segmented into smaller amounts you can afford (unlike your current Payday Loan and rental rates). As you repair your financial potholes, you’ll slowly but surely cover the balance of your installment loan.

    Car Payments

    Falling behind on your car payments can be hazardous to your credit. An Installment loan is a great solution that helps you make the necessary payment while allowing you to stay on course with your budget.

    An installment loan can help you phase out and replace a Payday Loan that typically causes additional financial concerns in the future.

    If you have Bad Credit

    People with bad credit are usually able to take out our installment loans.

    The benefits are twofold. Firstly, if you’ve run into bad luck with prior loans, you’ll have somewhere to turn when you need money. According to, installment loans won’t negatively impact your credit. Individual installment loans don’t account for enough money to play a huge roll in your credit score. In fact, the same blog explains that paying off an installment loan for a lengthier term has a positive influence over credit scoring models.

    Debt Consolidation

    Are you caught in a Payday Loan cycle? Are you using a big part of your paycheck to cover your Payday Loans? Consolidating your Payday Loans with an installment loan allows you have 1 smaller payment instead of seeing most of your paycheck disappear as soon as you receive it.

    Avoid NSF Charges

    Unpaid NSF fees are damaging to your credit. If they remain unpaid for 30 days, your account will be considered delinquent and reported to the credit bureau. Delinquent accounts do harm your credit score and can further complicate your situation. Our Installment Loan can help you avoid unnecessary NSF charges.


    When January 24th rolls around, most people are awaiting the doom and gloom of their credit card bill from the holidays. Sometimes you have to financially overextend during the holidays so you’re able to purchases gifts for your friends. Or maybe there was a big family trip you couldn’t back out of – even though you were a little light on funds. Regardless, an installment loan can help you recover the financial stress of the holidays.

    No Credit Check Loans

    Benefit From Our Policy

    Our applicants are not subject to credit checks. We use your banking transactions as well as other criteria to assess your request. We give you a clean slate. We believe in second chances, and we will take a chance with you when nobody else will.

    When you apply for a loan
    Our applicants are not subject to credit checks. We use your banking transactions as well as other criteria to assess your request. We give you a clean slate. We believe in second chances, and we will take a chance with you when nobody else will.

    Please borrow responsibly.

    What is a short term loan good for?

    It should be considered as a bridge money to pay for urgent bills and not a method to increase your credit. Our rate are higher because we take a lot of risk with lending to someone with having done a credit check when issuing a customer a loan.

    Apply NowRenew Now

    Short Term Loans

    We understand that sometimes, there are limits to stretching your paycheck to accommodate those unforeseen expenses that come when you least expect it. Don't worry, we got your back.

    Our Loan Rates

    Our lenders charge an APR (annual percentage rate) of 22% to 32% depending on the risk score of the application.

    Repayment Example

    A 300$ loan with an APR of 32% is refundable in 6 bi-weekly payments of approximately $75. This example includes all the fees associated with the borrowed capital over the three months.

    Terms of Repayment

    Our installment loans are repayable within a period of 90 to 120 days. Longer loan terms are available for loans over $1000.

    Borrow Responsibly

    Abusing microloans can cause negative impacts to your financial well being. Our interest rates are higher than conventional financial institutions and should be used only for emergencies.

    Types of Loans

    Go ahead
    Call them whatever you want

    We specialize in

    Installment Loans

    Installment loans are Canadians' trendiest choice ever since 2017.

    Payday Loans

    Payday Loans are...

    • old news
    • extremely expensive
    • short payback of 14 days
    • being replaced by Installment Loans 

    Cash Advance Loans

    Cash? Who does that anymore?

    Our Installment Loans are delivered instantly by Interac e-Transfer.

    Instant Loans

    Get your instant loan application started today. Our installment loan processing is optimized to provide you with your money when need it most.

    Mobile Loans

    Our installment loan application process is optimized for iPhone and Android mobile devices (smartphones).

    Unsecured Loans

    Our installment loans do not require any guarantees nor liens. We do not offer title loans.

    Short Term Loans

    Our short term loans are offered as follows:

    • 300$ to 3000$
    • 90 to 120 days payback period

    Online Loans

    Our process is entirely done online.

    1. Apply today
    2. Get approved within 1 hour
    3. receive your money in your bank account.

    Private Loans

    Any installment loan agreements are treated with the outmost discretion.

    Easy Loans

    Our installment loans are quick and easy. Get your today.

    Small Loans

    Our installment loans range between 300$ and 3000$.

    Personal Loans

    We offer personal loans to Canadians electronically. Apply today for your personal installment loan.

    Fast Loans

    Our 1-hour approval process is pretty fast. Apply today and witness it for yourself.

    Direct Loans

    Our installment loans are actually direct loans between the lender, and you, the applicant.

    Our Blog

    Areas Served

    Proudly serving Canadians with 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


    Edmonton, Calgary, Medicine Hat, Wood Buffalo, Red Deer, Lethbridge, Airdrie, Fort McMurray, St. Albert


    Saskatoon, Regina


    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


    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

    225 Rue Chabanel O #1004
    Montreal, QC H2N 2C9

    +1 844-508-2274

    9 AM - 6 PM
    9 AM - 6 PM
    9 AM - 6 PM
    9 AM - 6 PM
    9 AM - 6 PM
    Share This