Short-term loans give you a small amount of money fast and a short, fixed repayment schedule. Compare licensed Canadian lenders in one 60-second application — with no impact to your credit to compare.
Short-term loans are smaller loans designed to be repaid quickly — usually within a few weeks to a few months. They're built for a temporary cash-flow gap, like an unexpected bill before payday, rather than a large purchase. Loanspot matches you with licensed Canadian lenders from one 60-second application, so you compare real offers instead of applying to each lender on its own.
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If you need a larger amount or longer to repay, an installment loan or a personal loan usually costs less overall. Need it today? Compare emergency loans too.
A short-term loan works best for a one-time gap you can clear quickly:
Because the term is short, borrow only what you can comfortably repay on schedule. If you find you need short-term borrowing often, it may be cheaper to look at debt consolidation or a longer installment loan instead.
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Apply once and compare real offers — comparing won't affect your credit.
Tell us how much you need and confirm your income with IBV — no documents to fax.
We compare licensed lenders and show you real short-term options for your province.
Choose an offer and receive your funds — often by e-transfer the same or next business day.
With a short-term loan, the rate and fees depend on the amount, the term and the lender. Because you repay quickly, keep an eye on the total cost of borrowing, not just the payment. Every lender in the network follows Canadian cost-of-borrowing laws and must disclose the full cost before you sign, and reputable lenders never ask for an upfront fee to release funds.
To qualify you generally need to be the age of majority in your province, a Canadian resident, and have steady full-time or part-time employment income, confirmed with a 60-second read-only IBV check. Approval is based on income and ability to repay rather than your credit score alone, so fair and bad credit are still considered.
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The questions Canadians ask most before borrowing.
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Short-term loans are usually small. The exact amount depends on your income and the lender; borrowing the least you need keeps the cost down. For larger sums, compare an installment or personal loan.
Most applicants are matched within minutes, and many lenders send approved funds by e-transfer the same or next business day.
Often yes. Approval is based mainly on your income and ability to repay, so fair and bad credit are still considered.
No. Comparing options on Loanspot does not affect your credit score. A lender may only run a check if you move forward with an offer.
A payday loan is the smallest, due on your next payday. A short-term loan can be a little larger and repaid over a few weeks to a few months.
Generally you need to be the age of majority in your province, a Canadian resident, and have steady full-time or part-time employment income verified through IBV.
Costs depend on the amount, term and lender, and must stay within Canadian cost-of-borrowing laws. The full cost is disclosed before you sign — always check the total, not just the payment.
One 60-second application. No obligation. No impact to your credit score to compare.
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