Bad credit, no problem

We don't do a credit check on our loans because we think the loan amount is ‘small’, so not big enough to require one. We are able to assess your ability to repay your micro loan simply by reviewing the form you filled in when you applied.

Small loan application without credit check
When you apply for a small loan, we contact your employer to confirm that you have been working for them for more than 3 months. We ensure your confidentiality by simply indicating that you have applied for funding with us. The rest of our evaluation is done with Instant Bank Verification (IBV) which allows us to view your bank statement for the past 90 days. This allows us to see your payroll amount and make sure you have had less than 2 NSF. So IBV is one of the reasons our loans are without a credit check.

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Getting a payday loan with bad credit- Prêt ABC

Getting a micro loan with bad credit?

If you are worried that your micro loan application will be refused because of your bad credit in the past, please rest assured that we do not rely on a credit check to evaluate your loan application. We know that no one is immune to the unexpected:

  • -A breakup;
  • -A illness;
  • - Your ex-spouse does not pay child support;
  • - An unforeseen but necessary expense.
These situations could have caused you financial worries in the past and affected your credit rating, leading you to believe that you will no longer be able to qualify for a loan, no matter how small. But since we only lend micro-loans, your bad credit will not be taken into account. We only look at the last 90 days on your bank statement to assess your ability to pay. Plus, since we don't do any credit checks, your credit rating will not be affected, making your bad credit worse.

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Our criteria for a loan

As we do not do any credit investigation for your micro loan application, we rely only on your responses indicated in your loan application form. It is for this reason that we ask you to provide some documents in order to validate our selection criteria which are as follows:

  • - Be 18 years or older
  • - Work and reside in Quebec
  • - Have been employed for at least 3 months
  • - Be paid by direct deposit
  • - Not be self-employed
  • - Not be a recipient of social assistance
If all the required documents are correctly filed in your online profile when applying, you will have our confirmation of the micro loan in 60 minutes.

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Last update May 13th 2021 | Author Prêt ABC