Small Personal Loans in Canada — $50 to $1,500
Looking for small personal loans in Canada? BorrowNow.ca connects you with Canadian lenders offering $50 to $1,500 — any credit considered, funded by Interac e-Transfer, with an application that takes about five minutes.
Any credit considered · 30+ Canadian lenders · funded by Interac e-Transfer, often the same business day · income verified in seconds with secure Instant Bank Verification (IBV) — no impact on your credit score.
By Tony Freanisco · Last updated July 19, 2026
What Are Small Personal Loans?
Small personal loans are unsecured loans for modest amounts — at BorrowNow.ca, $50 to $1,500 — that you apply for entirely online. No branch visit, no collateral, and no borrowing more than you actually need. You complete a short form, get matched with a lender from our Canadian network, review the offer, and receive your funds by Interac e-Transfer.
That small-amount focus is the point: enough to cover a bill, a repair, or a gap between paycheques, without locking you into a large, long-term loan you’ll be repaying for years.
Who Qualifies for Small Personal Loans in Canada?
Most working adults in Canada can apply. There is no minimum credit score — our lenders look at your income and ability to repay, not just your credit history. You typically need to:
- Be at least 18 years old
- Be a Canadian resident
- Have regular income from full-time or part-time employment
- Hold an active Canadian bank account for the e-Transfer deposit
- Have a valid email address or phone number
Been declined by a bank? You are still welcome to apply — small personal loans are exactly where poor credit, no credit history, and past credit problems are most readily considered.
How to Apply for a Small Personal Loan in 4 Steps
Applying for a small personal loan takes about five minutes online: share your details, verify income with IBV, review the full offer, and receive your e-Transfer.
- Apply online in about 5 minutes — share your details and the amount you need ($50–$1,500).
- Get matched and verify income with IBV — a secure, read-only check that confirms your pay in seconds without affecting your credit score.
- Review your full offer — see the interest rate, APR, repayment schedule, and total cost before you accept. No obligation.
- Get funded by Interac e-Transfer — sign electronically and receive your money, often the same business day.
Prefer a step-by-step walkthrough first? Read our guide on how to borrow money online in Canada.
Why Choose BorrowNow.ca for Small Personal Loans
BorrowNow.ca small personal loans are 100% online, open to all credit types, and transparent about the full cost before you sign:
- 100% online — apply from your phone or computer, anywhere in Canada.
- All credit types welcome — poor credit, no credit, and past collections are all considered.
- Transparent terms — every offer shows the full APR and total cost before you commit.
- Prompt Interac e-Transfer — funds typically arrive within hours on business days.
- Small amounts, $50 to $1,500 — borrow only what you need.
- No application fee — BorrowNow.ca is free to use; loan costs are set and disclosed by the matched lender.
How Much Can You Borrow? $50 to $1,500
BorrowNow.ca offers small personal loans from $50 to $1,500. Choose the amount that fits your need:
Borrowing from a specific province or territory? See our borrow money online by province & territory hub.
Small Personal Loan Costs and APR in Canada
The cost of a small personal loan depends on the lender, the amount, and the term. Every lender in our network must show you the full Annual Percentage Rate (APR), all fees, and the total repayment amount before you sign anything. Across Canada, the federal criminal interest rate is capped at 35% APR (in effect since January 1, 2025).
| Amount | Typical term | APR range | Example total to repay* |
|---|---|---|---|
| $100 | 2–3 months | 19.99%–34.99% | $103–$106 |
| $300 | 3 months | 19.99%–34.99% | $313–$322 |
| $500 | 3–6 months | 19.99%–34.99% | $522–$547 |
| $1,000 | 6–12 months | 9.99%–34.99% | $1,051–$1,191 |
| $1,500 | 6–12 months | 9.99%–34.99% | $1,577–$1,787 |
*Illustration only — every lender in the BorrowNow network shows your exact APR, fees, and total repayment before you sign, and Canadian law caps consumer loan rates at 35% APR.
Always read your agreement and borrow only what you can comfortably repay. For independent guidance on your rights and on choosing a loan, see the FCAC guide to personal loans and the Financial Consumer Agency of Canada.
Province availability: BorrowNow.ca serves borrowers in all ten provinces and all three territories. Wherever you live in Canada, the application is the same five-minute form, the range is $50 to $1,500, and the federal 35% APR ceiling protects every loan — see our province-by-province guide for local details.
Frequently Asked Questions
Can I get small personal loans in Canada with bad credit?
Yes. BorrowNow.ca’s lender network considers all credit types, so a low or poor credit score will not automatically disqualify you. Lenders weigh your employment income and ability to repay alongside your credit history. You can also read our guide to borrowing online with bad credit in Canada.
How much can I borrow with a small personal loan?
Through BorrowNow.ca, you can borrow between $50 and $1,500 online. The approved amount depends on your income, the lender’s criteria, and your overall financial profile.
What do I need to qualify?
You generally need to be 18 or older, a Canadian resident, have regular income from full-time or part-time employment, and hold an active Canadian bank account. No minimum credit score is required.
How soon will I receive the money?
Because income is verified in seconds with IBV, decisions come back in minutes to a few hours. Most approved applicants receive funds by Interac e-Transfer the same business day when they apply before 2:00 PM on a weekday.
Are small personal loans secured or unsecured?
The loans in our network are unsecured — you do not need to put up a car, home, or other collateral. Approval is based on your income and ability to repay the $50 to $1,500 you borrow.
Can I repay my loan early without a penalty?
Many lenders allow you to repay early with no penalty, which can save you interest. Terms vary by lender, so always check your loan agreement before signing to confirm the prepayment rules.
Get Started — Borrow $50 to $1,500 Online
Disclaimer: BorrowNow.ca is a loan-matching service, not a lender, and does not guarantee approval. Loan amounts, rates, and terms are set by independent Canadian lenders and disclosed before you sign. All credit types are considered. Borrow only what you can afford to repay.