Installment loans for every credit score
Borrow $300 to $3,000 and repay it over 90 to 120 days, on your paydays.
Instant bank verification with every major Canadian bank
The intelligent loan solution
One application reaches every lender in our network, so you don't fill out form after form.
Simple application, quick approval
About five minutes online, on any phone. Lenders often respond the same day.
A modern alternative to payday loans
Smaller payments spread over months, instead of one big bill on your next payday.
Applying has never been easier
Three steps, all online. No branch visit and no documents to upload.
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Apply online
About 5 minutes
Choose your amount and fill out one short form on your phone or computer.
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Verify your bank
A few minutes
A lender that can help contacts you and asks for Instant Banking Verification. It's read-only, and your password stays private.
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Sign and get paid
Often the same day
Read the contract, sign it online, and the lender sends the money to your bank account.
Approval in minutes
Lenders in our network use automated decision tools. Once you've verified your bank, a decision often comes in minutes, not days.
Receive your funds
After you sign the lender's paperless agreement, the money goes to your bank account by deposit or Interac e-Transfer. Most loans arrive the same day; some take up to 24 hours.
Trusted partners and providers
The companies behind the payments, bank verification and risk checks in our network.
EFT Canada processes the electronic payments for deposits and loan repayments.
DecisionLogic verifies bank transactions during your application.
Microbilt provides the risk and reporting tools lenders use to review applications.
Interac e-Transfer is one of the ways funds reach you, quickly and securely.
Inverite runs real-time instant bank verification.
Flinks connects securely to your bank to confirm your account and income.
Zūm Rails moves the money: loan deposits and scheduled payments.
Versapay handles accounting and payment reconciliation.
Installment loans across Canada
Lenders in our network serve eight provinces, from British Columbia to Prince Edward Island. The loan works the same everywhere; the protections depend on where you live.
Find your provinceDebt consolidation
If payday loans take most of your paycheque, one installment loan may replace several of them with a single smaller payment. Deeper in debt? A non-profit credit counsellor can help for free.
Ways out of a loan cycleYour privacy is important
Why you borrow is your business. The site and the application only use encrypted HTTPS, your application goes only to lenders in our network, and bank verification never shares your password.
Our privacy policyFees, interest and repayment
Loans514 is an online loan-matching service. We work with private lenders whose terms are typically these, last reviewed November 2026.
- Amount
- $300 to $3,000
- Repaid over
- 90 to 120 days
- Annual rate (APR)
- 22% to 32%Set by the lender, based on the risk of the application
- Membership fees
- May applyAlways shown in your contract
Representative example
A $300 loan at 32% APR over 98 days is repaid in 7 payments of about $44.99, every two weeks. Total repaid: $314.93, of which $14.93 is the cost of borrowing.
Terms of repayment
Payments come out on your paydays: weekly, every two weeks, twice a month or monthly. Terms run 90 to 120 days, and some lenders offer longer schedules on loans over $1,000.
Missed payments
A returned payment (NSF) usually adds a fee and extends your schedule, and some lenders let you reschedule a payment for a fee. Every fee is listed in your contract. If money is tight, call your lender before the due date.
Borrow responsibly
An installment loan is a bridge for a short-term gap, and it costs more than borrowing from a bank. Holding several loans at once can turn a short problem into a long one. If you're already juggling loans, a non-profit credit counsellor can help.
How to qualify
The application works on a computer, tablet or phone. To apply, you need to:
- Be a Canadian citizen
- Be 18 or older
- Have a full-time job, or steady self-employed income
- Have an active bank account you can sign in to online
- Not be in a bankruptcy or consumer proposal
No documents to upload
Lenders in our network confirm your income through Instant Banking Verification instead of pay stubs or bank statements. It shows them a read-only view of recent deposits and bills, so they can offer an amount that fits your budget.
Bad credit doesn't rule you out. Approval isn't guaranteed, and the lender may offer less than you asked for so the payments stay manageable.
Installment loans versus payday loans
The same $500, two very different bills. For illustration only.
Payday loan
$570
due in one payment on your next payday
- Up to $14 for every $100 borrowed, for about two weeks
- Cost of borrowing: $70
- Short on payday? Often a second loan to cover the first
Installment loan
7 × $74.98
every two weeks over 98 days
- 32% APR, the top of the typical range, before any membership fee
- Cost of borrowing: about $24.86
- Each payment is the same size, so it's easier to budget
Frequently asked questions
Is Loans514 a lender?
No. We send your application to partner lenders in our network. If one accepts it, that lender contacts you, provides the loan, sets the rate and fees, and handles your payments.
Can I get a loan with bad credit?
You can apply. Lenders in our network look mostly at your income and banking history, so a low score alone doesn't rule you out. Approval isn't guaranteed.
Will applying hurt my credit score?
Loans514 doesn't run credit checks. A lender that reviews your application may check your credit, and explains how in its own terms.
Can self-employed people apply?
Yes, as long as your income is steady and shows up in your bank account.
How fast can I get the money?
Lenders often contact applicants the same day. Once you verify your bank and sign the contract, many lenders deposit the funds the same day, and some take up to 24 hours.
We all fall on hard times
You don't have to explain why you're borrowing. People often use an installment loan for:
- Rent due before payday
- A car payment or repair
- Avoiding an NSF fee
- Holiday bills in January
- Dental or medical costs
- A deposit on a new place
- A broken fridge or furnace
- Replacing a payday loan
Apply in about five minutes
Applying is free. You only agree to a loan when you sign a lender's contract.