Personal loans for bad credit

There are few experiences more stressful than needing money and not having it. If you’re in such a situation, don’t despair. There are many lenders out there who offer personal loans for bad credit. We know – we’ve connected many of them with Canadians just like you.

When You Need Money Fast

It’s a fact of life that you never know what’s going to happen next. Unexpected bills can crop up, entrepreneurial genius can strike, impromptu celebrations can reel you in, and all of these sudden events usually cost money. It’s not surprising that even those who do their best to stick to a budget can often find themselves running short on funds. In cases like these, people often turn to personal loans to bridge the gap.

Personal loans are loans extended to people based on their individual creditworthiness. This subjective measure is usually approximated by their credit score. The trouble is that it only takes a short run of bad luck to leave you with long-term scars on your credit report, even if you’ve been diligently making payments on your debts for years. Just a few missed payments can bring your credit score so low that it makes you look like a terrible credit risk.

Personal Loans for Bad Credit

Unsecured Personal Loans for Bad Credit in Canada

We here at Bonsai Finance believe there should be more options for people who have trouble accessing traditional borrowing options. Our lenders understand that bad credit doesn’t always mean you can’t be counted on to pay your debts. Rather than look at your financial past through credit reports, they focus on your financial present. Your current verifiable income is the single most important criteria in their lending decisions. They never ask for collateral, so you’ll never have to worry about losing out on an offer because you have nothing to match it with. You get the money you need with as little hassle as possible, no matter what misfortunes might have befallen you before.

Bad Credit Personal Loans in Canada with No Credit Check

When your credit isn’t great, it’s only natural to be worry about what you might be doing to make it worse. Loan applications that do use credit checks will typically cause a dip in your credit score that makes a bad situation even worse. Being trapped between two unappealing options like this can take a great toll on your mental well-being.

With our services, there’s no need to fret. We only connect our clients to lenders who we know and trust to do things a certain way. There’s no credit check involved in any of their application processes, so you can spare yourself both the stress of worrying about what impact your credit might have and the additional credit hit that usually happens when a report is requested.

Bad Credit Personal Loans in Canada with Guaranteed Approval

The process of getting a loan can be surprisingly slow and uncertain if you do it the traditional way. After you apply, you could spend days or even weeks in limbo wondering whether you might be denied. Given that many of the reasons people apply for personal loans are at least somewhat urgent matters, this isn’t an ideal situation.

Our lenders work a little differently. Because we make sure to choose partners with very simple guidelines for their decision-making process, you can expect a much quicker and more relaxed approval process than you’ll find with traditional lending arrangements. All you need is to be a resident of Canada and to have sufficient present income to reasonably be able to make your payments. As long as you meet those criteria, you can expect to be approved for these personal loans for bad credit; it really is that simple.