Personal Loans Canada

The Smart Payday Loan Alternative

  1. Personal Loans Canada

Personal Loans – Canada

Apply and Qualify for a Personal Loan in Canada, No Matter Your Credit Score!

Whatever your reason, if you need some financing flexibility, 514Loans offers the best personal loan products in Canada. With our services, you can apply for a personal loan quickly and easily for any loan amount under $1,500.

Because our loan application process does not require a credit check, your credit report will never hold you back. And a personal loan is versatile, it can be a convenient form of financing to address many important needs. 

Personal loans can help people with things like: 

  • Debt consolidation
  • Unanticipated expenses
  • Business investment opportunities
  • Extra cash flow 
  • Much-needed vacations

The choice is yours!

Personal Loans for Canadians - No Credit Check Required!

We refer to our personal loan products as “installment loans.” Instalment loans are a type of loan with shorter terms than standard personal loans.  

This kind of personal loan is a great alternative to other forms of financing, like credit cards. 

Personal loan interest rates are much lower than the annual percentage rate you pay when you take cash advances from your credit card, which means you will be able to pay off your loan much more easily than pesky credit card debt.

How Can I Get a Personal Loan if I Have a Bad Credit Score?

Normally, if you have a weak credit profile, there’s a possibility you will be rejected when you apply for a personal loan or line of credit with your bank. Even for people with a decent credit history, the borrowing experience at most major financial institutions can be a drawn out, time consuming and frustrating affair. 

Luckily, there’s a better way to get a personal loan! 

Thanks to our state-of-the-art loan management software, equipped with an automated decision-making module, we’re able to keep borrowing costs down and approve your personal loan in virtually no time! 

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 receiving your loan application.

Payment Schedule

We believe in giving people a reasonable amount of time to sort out their payment options and begin making loan payments. Our personal installment loans give you 120 days to sort out the repayment details, so you also get the peace of mind that comes with knowing that a loan payment won’t be due on your next pay cheque. 

As with any financial vehicle, there is a cost to borrowing money. Although our instalment loans

carry a slightly higher interest rate than what a bank might offer a personal loan applicant with a good credit rating, we believe that the speed, convenience and availability of our personal loan products are well worth it.

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 back without putting yourself in a tough financial situation. 

Payday loans often have an annualized borrowing rate (ABR) between 390% and 560%. While obtaining a payday loan is relatively simple, the expensive fees, short loan terms  and high interest rate make them a dangerous choice for many people.

Unlike credit cards or personal loans, payday loans can’t be paid off in installments, so if someone comes up short when their loan is due, they quickly fall into a vicious debt cycle.

Trust 514Loans to Provide the Help you Need

To avoid the pitfalls of payday loans, trust 514Loans to provide you with the personal loan you need in a pinch. In Canada, there is no better choice!

Instant Same Day Approval Even With Bad Credit

Easy Personal 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

A low credit score is not a problem, and our online application form is quick and easy to complete. 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!

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. 

To learn more about our personal loan application process or to speak to one of our customer service representatives for more information, contact us any time and we’ll be happy to take you through the steps.

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

Easy Installment Loans

Installment Loans Across Canada

We know it's tough to find good loans in Canada when you're stuck with a bad credit score. A payday loan is often not the right choice. That's why 514Loans is committed to offering short-term loans in Canada to anyone who needs one. 

Our loans don't require a credit check, so even applicants with a bad credit score can be accepted. And same-day responses from our loan agents mean that you get your money when you need it.

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.

Your Privacy is Important

Your loan is no one else's business but your own. That's why we take your privacy very seriously. Any and all personal documents that you provide to us are handled with the utmost care and with your safety in mind. We use SSL encryption for improved network security, and we ensure that our site is accessed over HTTPS, for all users, 100% of the time. 

We do this because when it comes to finding safe online loans, Canada deserves the best options in cybersecurity.

Convenient, Modern Alternative to Traditional Payday Loans

Applying has never been easier!

Your journey begins with our three-step online 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 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 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.

514Loans – Loan Partners You Can Count On

The Loan Application Process has Never Been Easier!

Getting your personal loan begins with our two-step online application:

  • Select your loan amount and complete our online application
  • 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.

Fast Approval & Funding

We are all about user experience, and that means not having to wait days to find out the results of your loan application. Our state-of-the-art loan management software enables us to approve your application in virtually no time!

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: Although our personal loans are normally funded on the same day, it can take up to 24 hours in some cases.

Happy Customers

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


Very helpful and understanding. Staff are friendly. I asked so many questions and they answered all of them in a nice respectful manner. Would recommend them to anyone.

Tabitha Hudson 
Tabitha Hudson

Wonderful service and customer service

Annie Levesque 
Annie Levesque

Great customer service! Helped me a lot when I needed the cash advance! Kept their word and Costa great job for the fast communication and keeping your word !! Awesome !!

Shiann Maillet 
Shiann Maillet

Very helpful and polite. Easy to talk to and deal with.

James Dalaire 
James Dalaire

Please give your feedback

We all fall on hard times

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

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What Can Installment Loans Be Used For?

At 514Loans, our goal is to provide the short term loans Canada needs and deserves. By streamlining the loan application process, we can help you address your financial needs right away. 

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

  • Eliminate credit card debt
  • Repair or tune up your car
  • Boost your small business
  • Pay medical expenses
  • Cover educational costs 
  • Finance a vacation
  • Renovate your kitchen

A personal loan can help with any expense. It’s entirely up to you!

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)

    Unsecured Loans

    Even With Bad Credit



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    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 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.

    Our Blog

    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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