I have bad credit. Can I still get a loan?

Yes, it is possible. Having bad credit in Canada does not prohibit you from applying for a loan. While traditional lenders such as banks may not approve you for a loan, you may have several options from other lenders available to you. 

It is worth noting that taking a loan with a low credit score will involve a high-interest rate due to your credit score. You should be mindful of the lender you choose to get the best possible deal.

If you have a low credit score, it is advisable to improve your score as much as possible before applying for a personal loan. This way, you will have more options in terms of lenders and may qualify for a better interest rate.

Read other Q&As

• Should I get a personal loan?
• What are the different types of personal loan?
• What is a personal loan?
• When will I get the money?
• When will I know if I am approved loan or not?