Am I Eligible for a Loan with AvenaWise?

Four things decide it: you are 18 or older, you have steady employment, you hold a Canadian bank account in your own name, and the repayment fits alongside what you already owe. Your credit score is not one of them.

If you have been declined elsewhere because of your credit file, that is the specific problem this service exists to solve. Here is exactly what is checked and what is not.

What we check

Your age

You must be at least 18. In provinces where the age of majority is 19, that higher age applies.

Your employment

Steady income matters more than the amount. We look at how long you have been with your employer and how regularly you are paid. Weekly, bi-weekly and monthly pay cycles all work, because the repayment schedule is built around whichever one you are on.

Your bank account

You need a Canadian chequing account in your own name that has been active long enough to show a pattern. You connect it during the application so income can be verified. The connection is read-only and cannot move money or change anything about your account.

Whether the repayment actually fits

This is the one most people do not expect. We look at what is already leaving your account each month. If adding a repayment would push you into a shortfall, approving it would not be doing you a favour. A decline here is not a judgement about you, it is arithmetic.

What we do not check

Your credit score. There is no minimum and no threshold. We do not pull it, so applying leaves no mark on your file.
Your credit history. A consumer proposal, a bankruptcy, collections or missed payments from previous years do not disqualify you on their own.
What you need the money for. You are not asked to justify it.

What you will need to hand

Your contact details
Your employer's name and how long you have worked there
Two references
Online access to your bank account for verification

The application takes about two minutes. The full process is set out here.

Common reasons an application slows down or is declined

Being straightforward about this saves everyone time:

Bank verification fails. Some institutions do not connect cleanly. This is the single most common holdup.
Employment details are incomplete. A missing employer name or start date means the file waits.
The account is too new. There needs to be enough history to see an income pattern.
The budget genuinely does not support it. When existing commitments already absorb your income, another repayment makes things worse rather than better.

If you are declined

A decline is about this application at this moment, not a permanent verdict. If the reason was the budget, the honest answer is that borrowing was not the right tool for that situation. An employer pay advance, a payment plan agreed directly with the creditor, or a free credit counselling service will serve you better than a loan that does not fit.

If the reason was technical, such as a bank connection that would not verify, you can apply again once that is resolved.

Common questions

Do I need good credit?

No. There is no minimum score, and we do not check it. More on borrowing with bad credit.

Does applying hurt my credit score?

No. Because no credit inquiry is made, there is nothing to appear on your file.

Can I apply if I receive benefits rather than a salary?

Regular, verifiable income is what matters. Whether a particular income source qualifies is assessed when your file is reviewed.

Can I have more than one loan at a time?

One at a time. Renewing is a separate process and is considered once the current loan is settled.

How much can I access?

Between $250 and $1,500, repaid over 12 weeks.

Ready to find out

The application takes about two minutes and no credit check is involved, so there is no cost to finding out where you stand.

Check my eligibility