Small loans under $500 in Canada
Small loans under $500 Canada‑wide, from $25 to $350 — for working Canadians who need a little to get to payday, not a big personal loan with months of interest.
Get my small loan ⚡
How it works
- $25–$350
- All credit considered
- IBV — no credit‑score impact
- e‑Transfer funding
Small loans under $500 are exactly what Speedy Money does. Most banks and online lenders set a minimum of $500, $1,000, or more — so if you only need a couple hundred dollars, you’re out of luck. We fill that gap by matching you with licensed Canadian lenders that fund genuinely small amounts, from $25 up to $350, quickly and transparently.
Why choose small loans under $500?
The smaller the loan, the smaller the cost. For the full picture, see the smallest loan you can get in Canada. And see exactly what your small loan cost will be. A small loan under $500 over a short term costs only a few dollars to a few tens of dollars in borrowing fees — a fraction of what you’d pay carrying a larger personal loan for months. It’s the responsible way to cover a one‑off cash gap.
Choose your amount
How it works
- Pick an amount under $500 ($25–$350) and your province.
- Verify income with IBV — secure, read‑only, ~60 seconds, no credit‑score impact.
- Get matched with a licensed lender and review the full cost of borrowing.
- E‑sign and get funded — usually by Interac e‑Transfer within minutes.
Small loans under $500: what they cost
Every lender follows Canada’s federal 35% APR cap. Here’s an illustrative cost guide for small amounts under $500:
| Amount | Example term | Illustrative cost* | Total to repay* |
|---|---|---|---|
| $50 | 2 weeks | ~$1.35 | ~$51.35 |
| $100 | 2 weeks | ~$2.70 | ~$102.70 |
| $200 | 4 weeks | ~$10.75 | ~$210.75 |
| $300 | 4 weeks | ~$16.15 | ~$316.15 |
*Illustrative only, capped at 34.99% APR. Your real cost is set by your matched lender and shown before you sign. Source: Financial Consumer Agency of Canada.
Frequently asked questions
What’s the smallest loan under $500 I can get?
With Speedy Money you can borrow as little as $25. Our micro range runs from $25 to $350 — all comfortably under $500.
Can I get a small loan under $500 with bad credit?
Yes. All credit is considered — approval is based mainly on your employment income via IBV, not your credit score. See our guide to small loans for bad credit.
How fast are small loans under $500 funded?
Fast. Small amounts are quick to approve, so many borrowers receive an e‑Transfer the same day they apply.
Is there a fee to use Speedy Money?
No. We’re free for borrowers — lenders pay us a referral fee that never changes your rate or terms.
About the author
Speedy Money is a free loan‑matching and referral service, not a lender, broker, or financial adviser. We do not make credit decisions or guarantee approval. Loans are provided by independent licensed Canadian lenders whose rates, fees, and terms vary and are governed by Canada’s cost‑of‑borrowing laws (federal criminal interest rate cap: 35% APR). Borrow only what you can repay. Speedy Money matches Canadians with full‑time or part‑time employment income only.