Small Installment Loans with No Credit Check in Canada

What is a Small Installment Loan with No Credit Check?

A small installment loan with no credit check is a short-term loan that is meant to be paid back over a period of a few months or a year. It’s the perfect way to borrow a small amount of money to pay for an emergency expense. There are many small installment loan companies in Canada that are willing to lend you money without the need for a credit check. This means you don’t have to worry about your credit score being a determining factor in whether or not you can get the loan.

Who Can Benefit from Small Installment Loans with No Credit?

Small installment loans are ideal for people who don’t have a good credit score and can’t qualify for a loan with a bank or credit union. If you have a low credit score, you’ll be denied from getting a traditional bank loan, but you can still get a small installment loan with no credit check. In fact, you may even qualify for a higher loan amount than if you had a good credit score.

Companies that Offer Small Installment Loans with No Credit Check in Canada

Small installment loan companies in Canada are not all the same. It is important to shop around for the best small installment loan company that will meet your needs. If you are looking for a small installment loan with no credit check, the following loan companies will help you get the money you need.

Captain Cash

Captain Cash is a company dedicated to offering small installment loans with no credit check to Canadians. They offer small installment loans of up to $750 with $0.5 transaction fee. Their interest rate is 22% and you can repay the loan for up to 3 months. 

Teka Loan

Teka Loan is another company that offers small installment loans with no credit check. Their offered loans range from $500 to $1,000, with an interest rate of 23%. They have a repayment term of 3 months to 5 months. Teka Loan has a quick and easy application process and once approved, your borrowed money will be deposited into your account the same day.

Urgent Money

Urgent Money is a small installment loans company that offers loans from $500 to $1,500 with no credit check required. Their payment term is within a period of 120 days and not less than 90 days. For every $100 loan, they charge $18. Once your application is approved, they will deposit the loan directly to your bank account. 

Conclusion

A small installment loan with no credit check is the best option for those who want to borrow money quickly but do not want to go through the hassle of applying for a traditional bank loan. It is a great option for those who have a poor credit score. However, as it offers a swift approval process, there are risks associated with it. If you are looking for a short installment loan with no credit check, it is best to make sure that you understand the terms and conditions before you apply.