Bad Credit Loans
in Ontario
Apply in minutes and get up to $35,000, fast.
Applying will not affect your credit score. There is no cost to apply.
Bad credit loans in Ontario, explained.
Pick a question. Get a straight answer.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
Bad credit loans in Ontario, explained.
Pick a question. Get a straight answer.
What counts as bad credit?
The Evergreen Loan is an upfront cash advance of $1,500 available to eligible customers who successfully complete 12 months of Foundation Gold. With a positive payment history, your loan amount can increase to up to $3,000.
Can I qualify?
Foundation Gold is a 12-month structured payment program offered by Spring Financial. When you enroll, you make fixed, automated bi-weekly payments of approximately $79 over 12 months. A significant portion of each payment is set aside as savings held in trust — building toward $750 by the end of the program.
Foundation Gold also reports your payment activity to Equifax and TransUnion each month and includes monthly credit score updates and access to the Bloom personal finance app.
Customers who complete 12 months in good standing and accumulate $750 in savings become eligible for a guaranteed $1,500 Evergreen Loan offer, subject to program terms.
How fast can I get funded?
Yes. Customers who successfully complete 12 months of Foundation Gold, accumulate the required savings, and keep their account in good standing become eligible for a guaranteed $1,500 Evergreen Loan offer.
How much does it cost?
The maximum loan term is 18 months. The Evergreen Loan is an open loan, which means you can make extra payments at any point without any fees or penalties.
Will applying hurt my score?
The interest on the Evergreen Loan ranges from 24.75% to 34.99% depending on your province.
What if I’m declined?
The interest on the Evergreen Loan ranges from 24.75% to 34.99% depending on your province.
Why choose Spring ?
See why Spring is Canada’s top choice for quick and easy Personal Loans.
Major banks
- Credit score
- Loan amounts
- Rates
- Approval speed
- Funding
- Credit reporting
- Early repayment
- No minimum
- $500 - $5,000
- Starting at 9.99%
- Usually within hours
- e-Transfer, same day*
- Equifax, TransUnion
- No penalty
Major banks
- No minimum
- $5,000 +
- 15%
- Days to weeks
- 3-5 business days
- Equifax or TransUnion
- Varies
Payday loans
- N/A
- Up to $1,000
- ~365%
- Same day
- Same day
- None
- N/A
*Information is based on averages and may vary by institution or lender. It is not intended to address specific circumstances or any individual case.
What makes a credit profile "bad" in Ontario?
Learn where lenders draw the line between good credit and bad credit.
Make it happen in 3 simple steps
Because borrowing money shouldn’t be complicated.
Tell us about yourself
Pick your loan amount
Get Approved
1. Tell us about yourself
Just the basics: Your name, contact info, and a few quick details.
3. Get approved
Once you’re approved, we’ll e-Transfer the funds directly into your account.
This is all you need to apply.
If you meet these basic requirements, there’s a Spring product waiting for you.
What We Require
Be 18 years or older
Canadian resident
Active bank account
Steady source of income
Working phone & email
Income Types We Approve
Employment income (full or part-time)
Self-employment income
Pension or retirement
Disability benefits (CPP-D, ODSP)
EI, child tax, and more
Bad credit loans in Ontario, explained.
If you meet these basic requirements, there’s a Spring product waiting for you.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
So what are you waiting for?
Don’t just take our word for it – hear it from the thousands of Canadians who used Spring to get approved.
“Got approved when no one else would even look at me. The process was easy and the money was in my account the next morning.”
“Got approved when no one else would even look at me. The process was easy and the money was in my account the next morning.”
“Got approved when no one else would even look at me. The process was easy and the money was in my account the next morning.”
“Got approved when no one else would even look at me. The process was easy and the money was in my account the next morning.”
Flexible financing. For Canadians, by Canadians.
Discover our products – designed to help you take control of your future with no stress, and no branch visits, ever.
Bad credit loans in Ontario, explained.
Pick a question. Get a straight answer.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
In Canada, “bad credit” usually means a score below 660. Under 600 is where most mainstream banks start declining applications. Spring Financial works with all credit profiles — there is no minimum score required to apply, and applying will not affect your credit score.
Calculate your payments.
See how much your monthly payments would be on a loan amount of your choice by adjusting the sliders.
You Deserve Better
Apply in just 3 minutes and get $500-$35,000 e-Transferred as soon as today.
On this page
Learn More About Credit Scores in Ontario
Contents
Types of bad credit in Ontario
Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply. Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply.
Unsecured personal loans
Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply. Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply.
Unsecured personal loans
Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply. Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply.
Unsecured personal loans
Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply. Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply.
Unsecured personal loans
Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply. Apply online safely with no waiting and no branch visits. Cash e-Transferred as soon as the same day you apply.
You have questions,
we have answers.
How does the loan work?
The Evergreen Loan is an upfront cash advance of $1,500 available to eligible customers who successfully complete 12 months of Foundation Gold. With a positive payment history, your loan amount can increase to up to $3,000.
What is the interest rate?
Foundation Gold is a 12-month structured payment program offered by Spring Financial. When you enroll, you make fixed, automated bi-weekly payments of approximately $79 over 12 months. A significant portion of each payment is set aside as savings held in trust — building toward $750 by the end of the program.
Foundation Gold also reports your payment activity to Equifax and TransUnion each month and includes monthly credit score updates and access to the Bloom personal finance app.
Customers who complete 12 months in good standing and accumulate $750 in savings become eligible for a guaranteed $1,500 Evergreen Loan offer, subject to program terms.
What do I need to qualify?
Yes. Customers who successfully complete 12 months of Foundation Gold, accumulate the required savings, and keep their account in good standing become eligible for a guaranteed $1,500 Evergreen Loan offer.
How much am I qualified for?
The maximum loan term is 18 months. The Evergreen Loan is an open loan, which means you can make extra payments at any point without any fees or penalties.
How long does the process take?
The interest on the Evergreen Loan ranges from 24.75% to 34.99% depending on your province.