Securing a loan with a bad credit score is pretty challenging for individuals. Banks hesitate to lend people with a low credit score as there is a higher risk of them defaulting on the repayments. Your credit score indicates your loan repayment ability, and if you have a low credit score, you may fail to repay the loan amount.
But it doesn’t mean that you can’t apply for a loan. Some lenders are known for offering instant bad credit loans in Canada. People with no credit or low credit scores can apply for these loans and get money to cover their expenses.
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