Compare personal loans from $20 to $50,000 from licensed Canadian lenders in one 60-second application. No obligation, and comparing won't affect your credit score.
Borrowing through Loanspot means filling out one short application and comparing real offers from several licensed Canadian lenders at once — instead of applying to each lender one at a time. Whatever you need to borrow for, a personal loan lets you take a set amount and repay it in fixed instalments, so you always know exactly what you owe and when it will be paid off.
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The right loan depends on how much you need, how fast you need it, and how you'd like to repay. Loanspot matches you across the whole network, so you can compare these options side by side:
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Apply once and let lenders come to you — no paperwork and no waiting rooms.
Tell us how much you need and confirm your income securely with IBV. There are no documents to fax.
We compare your profile against multiple licensed Canadian lenders and show you real options.
Choose the offer that fits and receive your funds — often by e-transfer the same or next business day.
Most lenders in the network look at your current income and ability to repay, not just your credit score, which is why borrowers with fair or bad credit are often still matched. To qualify you generally need to be the age of majority in your province, a Canadian resident, and have steady full-time or part-time employment income paid into a bank account.
Income is confirmed securely through IBV (instant bank verification) — a read-only check that takes about 60 seconds and replaces faxing pay stubs. Comparing your options is free, carries no obligation, and does not affect your credit score. A lender only runs a credit check if you choose to move forward with a specific offer.
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Through Loanspot you can be matched for as little as $20 or as much as $50,000. The rate and terms a lender offers depend on the amount you borrow, the length of the term, your income and your credit history. Borrowers with stronger credit generally see lower rates, but because many lenders weigh income heavily, applicants with fair or bad credit are still regularly matched.
Every partner in the network follows Canadian cost-of-borrowing laws and the federal criminal interest-rate cap of 35% APR, and must disclose the full cost of your loan — including the annual percentage rate — before you sign anything. When you compare offers, look beyond the monthly payment: a smaller payment over a longer term can cost more overall, so check the total cost of borrowing and choose the shortest term you can comfortably afford. Reputable lenders never ask for an upfront fee to "release" a loan.
Borrowing is available right across the country — see your province's borrowing page for local rules and lenders.
The questions Canadians ask most before borrowing.
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Loanspot matches Canadians with loans from $20 up to $50,000, depending on your income, the lender and your ability to repay. The right amount is the smallest one that covers your need.
Yes. Many lenders look at your current income and ability to repay rather than your credit score alone, so fair and bad credit are often still matched. Repaying on time can also help rebuild your credit.
Most applicants are matched within minutes, and many lenders fund approved loans by e-transfer the same or next business day.
No. Comparing options on Loanspot does not affect your credit score. A lender may only run a check if you choose to move forward with a specific offer.
You generally need to be the age of majority in your province, a Canadian resident, and have steady full-time or part-time employment income verified through IBV.
Lenders must stay within the federal criminal interest-rate cap of 35% APR and follow provincial consumer-protection rules. The full cost of borrowing is disclosed before you sign.
Yes. IBV (instant bank verification) is read-only — a lender can confirm your income is deposited but cannot move money. It takes about 60 seconds and replaces faxing pay stubs.
One 60-second application. No obligation. No impact to your credit score.
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