Loans Canada – Complete Guide

Lender Network

Large network

Loan Amounts

$500 – $50,000

Credit Types

All credit welcome

Service Cost

100% free

Large Lender Network

Access offers from many Canadian lenders with a single application.

Free to Use

No cost to compare — Loans Canada earns from lenders, not borrowers.

All Credit Welcome

Options available for excellent, fair, and poor credit profiles.

Is Loans Canada a legitimate company?

Yes. Loans Canada is a legitimate and well-established Canadian loan comparison marketplace founded in 2012. They are not a lender but a free service that connects borrowers with licensed Canadian lenders.

Does Loans Canada charge fees?

No. Loans Canada is 100% free for borrowers. They earn referral fees from their lender partners, so there is never a cost to you for using the comparison service.

Does using Loans Canada affect my credit score?

Loans Canada uses a soft credit check for initial matching, which does not affect your credit score. However, if you proceed with a lender's application, that lender may perform a hard credit check.

What types of loans does Loans Canada offer?

Loans Canada connects borrowers with personal loans, auto loans, mortgages, debt consolidation loans, and credit-building products through their network of many Canadian lenders.

Is Loans Canada legit or a scam?

Loans Canada is a legitimate Canadian company operating since 2012. They are a loan marketplace — not a lender — that connects borrowers with licensed Canadian lenders. The service is free and they earn referral fees from lenders.

Can I get approved with bad credit on Loans Canada?

Yes. Loans Canada works with lenders who serve all credit types, including bad credit. While rates may be higher for lower credit scores, their marketplace includes lenders who specialize in bad credit lending.

How long does it take to get money from Loans Canada?

Loans Canada matches you with lenders quickly, often within minutes. Actual funding time depends on the lender — some alternative lenders fund within 24 hours, while banks may take 3–7 business days.

Does Loans Canada do a hard credit check?

Loans Canada uses a soft credit check for initial matching, which does not affect your score. However, if you proceed with a specific lender, that lender will perform their own credit check, which may be a hard inquiry.

What happens after I apply on Loans Canada?

After submitting your application, Loans Canada's system matches you with lenders from their network. You'll receive one or more loan offers to compare. You can then choose the best offer and complete the process directly with that lender.