Bad Credit Loans in Canada
AvenaWise helps people access $250 to $1,500 without a credit check, repaid over 12 weeks. We are not a lender. We join your application as a co-borrower, so the lender assesses the two of us together instead of assessing your credit file alone.
If your score is the reason you keep getting declined, that is the specific wall this is designed to get you past.
Why bad credit stops most applications
A traditional lender runs your file through a risk model, and that model is built largely on credit history. It is backward-looking by design. A missed payment from four years ago, a consumer proposal you have since completed, or simply never having borrowed at all can end the application before anyone looks at what you earn today.
That is the frustrating part for most people who end up here. It is not that you cannot afford the repayment. It is that nothing in the process gets far enough to ask.
What a co-borrower changes
When AvenaWise joins your application, the lender is no longer relying on your credit file to decide. That shifts the question from what your history says about you to whether your current income supports the repayment.
Practically, that means no credit pull, no minimum score, and no disqualification for a bankruptcy or proposal in your past. The difference between a co-borrower and a lender is worth understanding properly before you apply.
What is assessed instead
- That you are 18 or older
- That you have steady employment
- How often you are paid
- What is already going in and out of your account
- Whether the repayment fits alongside your existing commitments
Full eligibility criteria are here.
What it costs, plainly
Two separate components make up the cost:
- Lender interest. The lenders we work with charge 22% APR on the loan itself.
- The AvenaWise co-borrower fee. A separate fee for acting as your co-borrower, set when your application is reviewed and varying by file.
Your contract sets out the full cost before you sign: every charge, the payment schedule, and the total you will repay. Read it, and ask about anything that is unclear before signing rather than after. Any lender who will not give you that breakdown in writing before you commit is one to walk away from.
These are not payday loans
The distinction matters. A payday loan is typically due in full on your next pay date, usually within two weeks. These are repaid over 12 weeks on a schedule aligned to your pay cycle. Because every term runs longer than 62 days, they fall outside payday lending rules entirely and no payday lending licence is required in any province.
Before you borrow, be honest about the situation
A short-term loan works for a one-off expense you can repay from income you already have coming in. A car repair, a dental bill, a rent shortfall in a month that went sideways.
It does not work as a fix for a structural gap, where monthly costs routinely exceed monthly income. Borrowing against that kind of gap tends to widen it, and no lender who is being straight with you will pretend otherwise. If that is closer to your situation, an employer pay advance, a payment plan negotiated directly with the creditor, or a free credit counselling service will do more for you than any loan.
Common questions
Is there a minimum credit score?
No. There is no threshold, because no credit check is performed.
Will applying lower my score?
No. No credit inquiry is made, so nothing appears on your file.
Can I apply after a bankruptcy or consumer proposal?
Yes. Neither disqualifies you. What matters is your current income and whether the repayment fits.
Will this rebuild my credit?
Do not assume so. If building credit is your actual goal, look specifically for a product that reports to the credit bureaus, and confirm that it does before signing up. Repaying a loan that is not reported will not move your score.
Is AvenaWise legitimate?
A reasonable question to ask of anyone requesting your banking details. Here are the checks worth running, and our answers to each.
Apply
About two minutes, no credit check, and no impact on your score either way.
We offer co-borrower services and are not a payday lender. Since all loan terms exceed 62 days, the loans we help clients access are not considered payday loans and do not require a payday lending licence in any province.
Administration Fees: Administration fees comply with Canadian law and are transparently disclosed in the binding contract between the lenders and borrower.
APR and Regulatory Compliance: APR, consistently below 29%, meets all Canadian provincial regulations. Therefore, a special lender's permit is not required.
For example, for a loan of 300$, a normal repayment term would be 79$ bi-weekly for 12 weeks.