Bad credit loans in Edmonton

Credit scores are commonly used by banks and other lending institutions to assess borrower eligibility for loans, and a low score can create obstacles in obtaining financing. Nevertheless, despite this discouraging scenario, our team of experts can assist you in improving your financial circumstances with our array of loan options and services.

What is a bad credit loan in Edmonton?

In essence, a bad credit loan in Edmonton is a type of short-term loan offered to individuals with a low credit score of 659 or below, which is typically repaid by the next paycheck. It’s important to note that bad credit loans differ from installment or personal loans offered by other financial institutions and lenders.

While many banks and lenders tend to avoid lending to individuals with poor credit, bad credit loans can provide a viable alternative for those in need of quick financing.

Credit score bureaus in Canada

In Canada, credit scores are provided by two primary credit bureaus – Equifax and TransUnion – and typically range from 300 to 900. These scores are determined by distinct algorithms used by the bureaus, which means that your scores may not be identical across both bureaus.

For individuals with a bad credit score, two general guidelines apply:

1. Financing is typically accompanied by a higher cost, such as higher interest rates.
2. A lower credit score usually requires more collateral or security.

At Get Payday Loans, we provide customized bad credit loans without requiring a credit check.

Bad credit loan Edmonton advantages

Things to know about bad credit loans in Edmonton

The following requirements must be met by individuals seeking a poor credit loan in Edmonton:

No credit check

Get Payday Loans offers poor credit loans in Edmonton without a credit check. We understand that a history of poor credit should not impede your ability to address a financial emergency. As an alternative, we evaluate your income to assess repayment risk.

What is required?

When submitting an application, our agents will request that you provide the following documentation:

What is the maximum loan amount available?

At Get Payday Loans, the bad credit loan amount is adaptable, ranging from $300 to $3,000.

Repayment terms

Repayment terms for bad credit loans in Edmonton require full repayment within six months, and the customized loan agreement provided will specify the repayment terms. Our bad credit loans also come with flexible repayment options

Our associates are always available to assist you with any issues that may arise during the repayment period

If you experience any challenges, we can work together to come up with a payment plan that fits your financial situation. We advise our clients to adhere to their repayment schedules to avoid additional fees.

Why choose Get Payday Loans for a bad credit loan in Edmonton?

At Get Payday Loans, we have over 12 years of experience as a reputable lender in the financial solutions industry. We are dedicated to providing fast and transparent loan services that you can rely on. Our streamlined loan application process enables you to submit your request in just three simple steps, and within 90 minutes of receiving your application, one of our brokers will provide you with an outcome. If your application is approved, you’ll receive your funds within 24 hours, which is faster than most credit check loans.

Expert assistance available

Our team of online lenders is available from Monday to Friday, 10 a.m. to 6 p.m., to assist you with any questions you may have. We are always ready to help. If you need a bad credit loan in Edmonton, apply now! Our team will analyze your request as soon as possible and offer you loan products that meet your needs.

The consequences of bad credit loans in Edmonton

Bad credit affects more than just borrowing ability. It can also be a significant disadvantage when looking for work or rental housing. Before making a decision, most employers and building owners check the applicants’ solvency.

What exactly is a credit rating?

The standard credit score, also known as the “FICO score” (a formula developed by the Fair Isaacs Corporation), is a risk assessment tool used by lenders to determine a borrower’s solvency. It reflects your previous credit history and is determined by whether or not repayment deadlines are met. People with poor credit have a low credit score.