Personal Loans Canada

The Smart Payday Loan Alternative

Easy to Apply and Qualify

Personal Loans in Canada Without a Credit Check!

The Personal Loans Canada Has Been Waiting For

There are many reasons why a personal loan might be the right solution for your particular situation.

For example, you might need one to pay for an unexpected car repair bill, to lower the monthly payment on an out-of-control credit card debt, or even to go on a much-needed vacation to recharge your batteries. Whatever the reason, 514Loans is your solution for any loan amount under $1,500, no matter your credit score.

Why deal with the high interest rate of a traditional credit card company when you can get help from 514Loans? With better rates and more convenient repayment terms, we’re not concerned with your poor credit score. Come to us when you need loans for bad credit, and we’ll make sure you get your hands on the financing you need in short order.

Personal Loans in Canada With No Credit Check

We refer to our personal loans as “installment loans.” An installment loan is essentially a personal loan that runs for a shorter term than a standard personal loan, up to a total loan amount of $1,500. It’s an ideal mechanism through which to get a much-needed cash injection for your bank account when you need it most, and you won’t need to pay it off all off in one lump sum.

With an installment/personal loan that can be paid back in 120 days, you can obtain the money you need to make your life easier without the hassle of worrying about your credit score or the high interest rates of most credit cards. With 514Loans, you can qualify for a personal loan of up to $1,500, even with poor credit.

And the best part? Apply for a personal loan with us, and we’ll help you by transferring the money into your bank account the very same day. At 514Loans, granting bad credit personal loans designed to be paid off in installments is one of our specialties.

How Can I Get a Personal Loan With Poor Credit?

For some, getting loans with bad credit is a hassle. In Canada, it can be problematic to get a personal loan from banks, credit unions or other traditional lenders, as they often have a stricter set of criteria to meet in order to be eligible for financial help. Indeed, for some, the moment someone mentions a credit check it’s time you head for the door.

Luckily, there’s another way of obtaining a small short-term loan for bad credit.

Thanks to our state-of-the-art loan management software, equipped with an automated decision-making module, we’re able to keep costs down and approve your bad credit loans in no time! Your loan will be automatically funded the minute you sign our online paperless loan agreement.

Getting a personal loan with 514Loans is easy. With no credit check and approval in just minutes, you’ll get the help you need to pay your bills on the very same day. Not many companies can process and approve personal loans in Canada this fast, but with us you’ll have the money deposited in your account within hours of applying.

Is it Expensive?

The concept of borrowing money when you find yourself in tight financial circumstances has been around for thousands of years. However, while having these lending mechanisms in place is convenient and commonplace, to get financial help is (and never has been) free.

In order to compensate the lender(us) for the risks involved with offering loans to those with poor credit, you may find the loan has an interest rate that is slightly higher than that offered by the banks. However, considering the alternative, in which those traditional lending institutions won’t provide any help at all to those with poor credit, this is a good option for those in dire financial straits.

If you need a personal loan in a hurry and you have poor credit, obtaining an installment loan without a credit check is a simple way to solve your problems and pay the loan back over a sensible period of time. 120 days is usually enough time to pay off the loan and avoid a difficult interest rate.

Better Than Payday Loans

Unlike payday loans, which are required to be paid back in full in a very short time, a personal loan from 514Loans provides you with the flexibility and freedom to pay your small loan amount back without too much worry.

Payday loans often rely on the consumer having previous payroll and employment records, and although you can find them all over the place in a variety of brick and mortar locations, the annualized borrowing rate (ABR) of a payday loan may be between 390% and 560%. While obtaining a payday loan is relatively simple, the expensive fees and short loan terms often complicate the situation, making it a dangerous choice for some people.

In fact, some studies have linked payday loans to a significant increase in personal bankruptcy. When borrowers don’t have the money to reimburse the payday loan debt in full, they may be forced to roll the principal over into a new payday loan, starting a cycle of debt that becomes unsustainable over a short period of time. Unlike credit cards or personal loans, payday loans can’t be paid off in installments, and they were designed this way on purpose to lock people into paying usurious interest rates.

Trust 514Loans to Provide the Help you Need

To avoid the pitfalls of payday loans, trust 514Loans to provide you with the money you need in a pinch. In Canada, there is no better choice! Call us today to see how we can help you!


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 Canada 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 Canada 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

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

What Do I Need to Qualify?

In order to get an installment loan from 514Loans, all you need is to:

  • Be a Canadian over 18
  • Work full time
  • Not be in bankruptcy

That's it! To learn more about it or to speak to one of our customer service representatives, contact us any time and we'll be happy to take you through the steps.

If you live in Canada and need a short-term loan, don't get sucked into a payday loan provider's debt trap.

Instead, get help from 514Loans! A low credit score is not a problem, and our online application form is quick and easy. We can process and pay you on the day you apply so you can get the cash you need right away. No delays, no hassles and no long waits.

Discover why Canadians are choosing us over other personal loan or payday loan providers more and more. For access to money right away, trust 514Loans. We have the no credit check loans that Canada residents deserve.

Convenient, Modern Alternative to Traditional Payday Loans

Applying has never been easier with no documents required!

Your journey begins with our two-step online application:

  1. Select your loan amount and complete our online application
  2. Complete your IBV (Internet Banking Verification)

Our fully-automated loan management software allows us to process your request faster than most online payday loan providers in Canada. Loans are then able to be granted faster, meaning you get your money when you need it.

Approval in Minutes

We are all about user experience, and that means not having to wait days to find out the results of your application.

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

Once you're approved, all you have to do is kick back and relax. We will automatically deposit the funds into your bank account. 

Please note that although most online 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 versus Payday Loans

Payday Loans

Short-term personal loans in Canada often come in the form of a payday loan. 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. This product is available in many brick and mortar locations across Canada, as well as being offered on several websites online.

Downside of Payday Loans

Though obtaining a payday loan can be a simple process, the expensive fees and short loan terms often complicate the situation. If, when payday comes, the borrower doesn't have the money to reimburse their debt in full, they are often forced to roll the principal over into an entirely new payday loan.

Unlike credit cards or installment loans, payday loans can't be paid off in installments; the whole sum has to be reimbursed in one payment. If the borrower is unable to make their payment, it will often create a loan cycle situation that can be catastrophic to one's budget, credit score, and economic well being.

Nowadays, more people looking for loans in Canada are turning away from payday loans and towards installment loans as a better short-term financial solution.

Installment Loans

  • Online Installment loans in Canada are 50% to 60% cheaper than payday loans and are available with longer repayment terms, making them significantly safer for your credit score.
  • As the borrower, you benefit from a straightforward reimbursement process and avoid the risks associated with costly and dangerous loan cycles.
  • When you take out no credit check installment loans in Canada, you also benefit from an automated stress-free payment plan that enables you to budget more efficiently for your future financial obligations.
  • Moreover, you can further benefit from reduced rates and increased credit limits with every loan you successfully reimburse.

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

What are you waiting for? Apply Now!

Happy Customers

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.


Called for info the girl I spoke to was very friendly and answered all of my questions. I got a reply within an hour They asked for documents and bank statements and it was an easy approval got the money I needed right away.


Seamless and easy! Thank you


Please give your feedback

We all fall on hard times

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

Apply NowClient Portal

Short-Term Loan Requirements

Offering users a great customer experience is our number one priority. In order to achieve this, we start by making the application process as simple as we can.

Once you've filled out the application, there is nothing else we need you to provide. No extra documents. If there is anything required from your part, rest assure that our helping agents will contact you ASAP. They are here to help you.

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

When it comes to no credit check installment loans, Canada has the best service available: 514Loans, offering great payment plans and reasonable interest rates. We look forward to assisting you in finding the best financial solution for your needs.

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)

    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, unable to keep up with high interest rates, or are facing a potential 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.

    Call today 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. Doing 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 NowClient Portal

    Offering Installment Loans in Canada, Even with Bad Credit

    When Canadians find themselves in need of short-term loans, bad credit shouldn't stand in the way. And the repayment process for those loans should be as simple as paying rent or mortgage, phone plans, electricity and other monthly bills.

    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 easily plan your budget accordingly. Most importantly you can usually obtain prompt approval for these online loans without a credit check.

    Here are some of the most frequent situations that may call for an installment loan:


    It doesn’t matter who you are, you need a roof over your head. But an unexpected expense can cause anyone to be short on their rent, often a day or two before it is due.

    Thankfully, an installment loan can help you in a few ways. First and foremost, you’ll have the cash to cover this month’s rent. And if you budget accordingly, the flexibility of an installment loan will also help you avoid falling behind financially in the future.

    Car Payments

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

    An installment loan can also help you phase out and replace a payday loan, which typically reduces additional financial concerns in the future.

    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 that debt with an online installment loan allows you to have a single small payment, instead of seeing most of your paycheck disappear as soon as you receive it.

    If you have Bad Credit

    Even people with bad credit are usually able to take out our no credit check installment loans. The benefits of that can be huge; you get somewhere to turn to when you need money, and you don't have to do so at a further cost to your credit score.

    According to, installment loans won’t negatively impact your credit. Individual installment loans don’t account for enough money to play a huge role 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.

    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. 514Loans can help you avoid unnecessary NSF charges.


    When January 24th rolls around, most people are nervously anticipating their credit card bill from the holidays. Sometimes you have to financially overextend yourself during the holidays so you’re able to purchase gifts for your friends. Other times it’s 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 from 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 NowClient Portal

    Short Term Loans

    We understand that there are limits to how much you can stretch your paycheck in order to accommodate unforeseen expenses. Don't worry, we've got your back when it comes to installment loans in Canada.

    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 online 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 due to their higher interest rates. The interest rate on an installment loan is 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 loan choice since 2017.

    Payday Loans

    Payday Loans are:

    • Old news
    • Extremely expensive
    • Have a 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 an hour
    3. Receive your money in your bank account.

    Private Loans

    Any installment loan agreements are treated with the utmost discretion.

    Easy Loans

    Our installment loans are quick and easy. Get yours 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 one-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.

    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

    514loans - Payday Loan Alternative

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

    +1 844-508-2274

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