Personal Loans in Ontario

Personal Loans Across Ontario

Ontario is Canada's most populous province, and our lender network reflects that scale — from Toronto and Ottawa to smaller communities across the province. Ontario's Payday Loans Act, 2008 regulates payday lenders specifically, while personal installment loans fall under the federal criminal rate framework.

Communities We Serve

TorontoOttawaMississaugaHamiltonLondon+130 more communities

Lending Regulation in Ontario

The Payday Loans Act, 2008 sets licensing requirements and cost-of-borrowing limits for payday lenders operating in Ontario. Personal installment loans are governed separately by the federal criminal rate of interest, capped at 35% APR since January 2025.

Applying Online from Ontario

Approval is based on your income and credit profile, not your postal code
Applications, approval, and funding all happen online — no need to visit a branch
Funds are typically deposited directly to your bank account via e-transfer or direct deposit

Eligibility Requirements

18 years or older (19 in BC, NB, NL, NS, NT, NU, and YT)
Canadian citizen or permanent resident
Valid Social Insurance Number (SIN)
Active bank account in your name
A regular source of income

How to Apply in Ontario

Step 1

Apply in 2 minutes

Tell us a bit about your situation. No paperwork required upfront.

Step 2

Compare offers

See real offers from vetted lenders, matched to your profile.

Step 3

Get funded

Accept an offer and funds typically land within 24 hours.

Sources

Explore other provinces & territories More guides & tools

Personal Loans in Ontario FAQ

What law regulates payday loans in Ontario?

The Payday Loans Act, 2008 sets licensing requirements and cost-of-borrowing limits for payday lenders operating in Ontario.

Is a 130-community reach unusual for a lender network?

Ontario's size and population density mean lender networks typically reach far more communities here than in smaller provinces, though approval criteria don't change based on which Ontario community you're in.

Will applying affect my credit score?

Checking your rate uses a soft credit inquiry, which does not affect your credit score. A hard inquiry only occurs if you accept an offer and proceed with a lender.

How fast can I get funded?

Most applicants get a decision within minutes. Once you accept an offer, funds are typically deposited within 24 hours, and some lenders offer same-day funding.