2 Best Personal Loans in Alberta, 2024 | Recommended Alternative Lenders

January 22, 2024 | Editorial Team

If you have done a credit check recently and realized that your credit score is suffering, you are likely concerned. Having a bad credit score can negatively impact people’s ability to get things like a credit card, payday loans, and a personal loan, Canada. Without these loans, you may not be able to pay for vital services.

Personal Loans in Alberta

Personal loans can be used for things like weddings, renovations, and more. Luckily, there are plenty of alternative lenders in Alberta that can help you find the perfect personal loan regardless of your credit score. Luckily, they operate all over Canada, so our earlier posts on the best personal loans in BC, Ontario, Toronto, and Edmonton can come in handy.

The best place to start is a loan search engine such as Loans Canada or LoanConnect. Let’s take a deeper look at both platforms, Alberta!

5 Best Personal Loans in Alberta Reviews

1. Loans Canada

With so many traditional and alternative lenders available, it can be hard to find a loan in Canada. Thankfully, you can use search engines like Loans Canada to find the perfect personal loan. Loans Canada was created in 2012 to help Canadians from across the country find loans, regardless of their credit rating.

Here are some of the pros and cons of using Loans Canada to find personal loans, Alberta.


  • Interest rates start as low as 5.49%, depending on your credit score.
  • Personal loan terms range from short term to long term, but 60 months is the maximum.
  • Canadians with a bad credit score can still get approved for a personal loan through this search engine.
  • Big personal loans are available as the maximum amount is $300,000.
  • You can receive your personal loan within 48 hours of getting approved.
  • The application process is completely online, perfect for those in Alberta as the company is based in Toronto.
  • The website is super easy to navigate, and the application shouldn’t take more than ten minutes once you input all of your personal information.
  • Your search results will be organized neatly into a chart. This helps you see your personal loan options much easier.
  • You can find a loan for debt relief, cars, and businesses on Loans Canada.
  • Loans Canada also provides financial services to help Canadians become more financially literate. Check out their site for detailed guides.


  • Terms and conditions vary depending on the lender, so you need to read each loan carefully.
  • Search results will be limited to the lenders that partner with Loans Canada.
  • Your interest rate for your personal loan will be higher if you have bad credit.

2. LoanConnect

Not only is Loans Canada a great search engine, so is LoanConnect! LoanConnect is similar to the previous platform as it is a loan search engine for personal loans as well as many other types. LoanConnect is based in Toronto but is an online platform, so those in Alberta can benefit from it as well.

LoanConnect can help Canadians in Alberta find a loan for debt consolidation, tuition, business, vehicles, or personal use. Let’s take a look at the pros and cons of using LoanConnect to find a personal loan.


  • Interest rates can be calculated (see personal loan calculator) as a daily, monthly, or annual percentage rate.
  • Personal loans from Canada, whatever province you’re in, can easily be found online on LoanConnect.
  • Loan terms vary from 6 months to a maximum of 60 months.
  • Using LoanConnect is free, and there is no obligation to continue with a lender that is suggested to you.
  • You can easily find a bad credit loan on LoanConnect.
  • If your credit score isn’t too bad, however, your interest rate could be as low as 4.6%.
  • There are 12 different loan types available on LoanConnect.
  • Eligibility requirements aren’t too strict, especially compared to traditional lenders. Your debt can’t be more than 60% of your income, and you must be a Canadian citizen that is of the age of majority in Alberta.
  • The website is extremely easy to use and navigate, even if you aren’t tech-savvy.


  • The maximum personal loan amount available on LoanConnect is $50,000. This can be limiting to those in Alberta who need a large personal loan.
  • If your debt is more than 60% Alberta, you will get rejected for a personal loan from LoanConnect.
  • The worse your credit score is, the higher your interest rate will be, Alberta.

The Bottom Line

Many Canadians in Alberta struggle with saving money because there are so many other things to pay for. Cars, tuition, mortgages, credit cards, you name it. Unfortunately, that means if something comes up and you need money right away, you likely won’t have it. Fortunately, Alberta, personal loans exist. You can take out a personal loan to pay for anything you need.

Home renovations after a storm in Alberta, your family member’s wedding, whatever it is, personal loans are a great solution.

Head over to Loans Canada or LoanConnect to search for the perfect personal loans. Both platforms are free to use, and there is no obligation when using them, so search to your heart’s content, Alberta!