Bad Credit Loans Calgary

Many Canadians find themselves with a bad credit history and are unable to receive a loan from banks or traditional credit facilities. As reported by the Financial Post, individuals with a bad credit score often face challenges securing loans from traditional credit facilities at reasonable interest rates.. Luckily, Northstar Brokers can save the day with bad credit loans, which are loans that do not consider your credit history in the application form. Get a bad credit loan in Calgary from Northstar Brokers today!!

What Do I Need to Qualify for a Bad Credit Loan in Calgary?

Although we don’t request a credit check, we have several requirements you need to meet. Applicants need to be at least 18 years old and provide the following information:

  • Identification document 
  • Utility bills to prove your residential address
  • Six months Canadian bank statements 
  • Three months proof of income statements

After you’ve submitted your application, one of our agents will contact you within 90 minutes with a response. Because we work case-by-case, we may request additional documentation before approving the loan. Should you be approved, you will receive your money within 24 hours.

How Do I Apply for a Bad Credit Loan in Calgary?

Applying for a bad credit loan in Calgary is a simple and streamlined process that can be completed online or in one of our physical stores. With Northstar Brokers, it only takes a few minutes to apply. Ensure you have the following documentation before beginning the application process: 

  • Two ID photos and proof of SIN
  • Proof of address
  • Two most recent pay stubs
  • Voided check or a pre-authorized debit form
  • Bank statements from the last 90 days 

What are the Typical Terms for a Bad Credit Loan in Calgary?

When applying for a bad credit loan in Calgary, there are different types of loans to consider. Our team of experts can help you identify the best choice based on your financial needs. We can calculate the interest rate of your loan based on your circumstances. Loans can be long-term and last up to five years, or short-term and last only a few months. Note that when applying for short-term loans like bad credit loans in Calgary, you can expect a higher interest rate. 

What’s the Best Interest Rate I Can Get on a Bad Credit Loan in Calgary?

Although bad credit loans in Calgary are notoriously known for high-interest rates, that’s not the case with our loans. Several factors will affect your personal interest rate, such as: 

  • Income level
  • Collateral
  • Credit profile
  • Loan amount
  • Loan term
  • Monthly payment amount

How Much Can I Borrow If I Have Bad Credit?

Most people believe that a bad credit score means they can’t borrow a significant amount of money. But, if you have your finances in order and can prove that you’re able to pay your installment each month, you can borrow up to $3,000 from Northstar Brokers. If you’re looking for a smaller loan, our offering starts at $300. We highly recommend borrowing only what you need to ensure that you meet the monthly loan payments.

Who Can Get a Bad Credit Loan in Calgary?

Although Northstar Brokers makes acquiring a bad credit loan in Calgary a simple and easy process, we require our clients to meet the following criteria to qualify:

  • Have a valid chequing account for at least 3 months
  • Have full-time employment for at least 6 months
  • Live at the same address for at least 6 months
  • Receive a salary via cheque or direct deposit
  • Not be bankrupt or have garnishments against your name

When to use Bad Credit Loans in Calgary?

People take out bad credit loans in Calgary for all kinds of reasons. In most cases, these loans help people with cash flow issues or debt consolidations. You can also use a bad credit loan for emergency expenses, quick cash, and to pay bills.

These loans are also perfect for funding necessities like buying or repairing a car, paying tuition or covering emergency medical procedures. When applying for the loan, we don’t have any restrictions on how you will utilize the funds, as the loan is considered a personal loan. 

In most cases, a bad credit score doesn’t rightly reflect your financial status, and getting a loan with a poor score is nearly impossible. If you need an instant loan, use our fast online application process and have your funds within 24 hours. 

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