Flexible short-term loans in Canada

Whether you need $10,000 or $100,000, homeowners can utilize their home equity to get immediate funding, regardless of age, income, or credit history.

Quick approval

Large loan amount

Flexible requirements

Rebuild your credit

How to get a short-term loan

Complete an online application

Fill out the form with the right information: no obligation or impact on your credit score.

Speak with a Financial Solutions Specialist

A specialist will contact you to provide support, answer your questions and provide more information.

Get approved and receive funds

With at least 25% equity ownership in your home, you can get approved and receive funds within a few days.

What are short-term loans?

Short-term loans are loans obtained to assist with a quick, temporary financing need. These loans are repaid within a short period, usually in a year or less. The funds are deposited into your bank account as a lump sum and paid back monthly, consisting of a part of the principal and the interest rate.

Use cases for short-term loans for homeowners

Cover emergency expenses

You can use short-term loans to quickly access cash for unexpected expenses, such as medical emergencies, car repairs, or urgent home repairs.

Improve cash flow

If you are a business owner, you often face cash flow challenges, especially during seasonal fluctuations or delays in receivables. A short-term loan can help you bridge that gap.

Consolidate multiple debts

You can use short-term loans to consolidate your higher-interest debts into a single, lower-interest loan, simplifying your payments and potentially reducing your overall interest costs.

Benefits of short-term loans in Canada

Unexpected situations happen where you might need instant cash. Short term loans can help you with those kinds of situations. They can also:

Improve cash flow

By consolidating debts or financing major expenses through a short-term loan, you can better manage your cash flow and reduce financial stress.

Get quick access to funds

Short-term loans have faster approval rates than long-term loans. If you decide on online short-term loan lenders like Alpine Credits, you can experience a simple and fast application, approval, and funding process to cover your needs, all from the comfort of your home.

Save on interest cost

Homeowners who are eligible for short-term home equity loans can experience lower interest rates and higher funding potential compared to getting loans without a security against them.

Improve credit standing

A short-term loan can also accommodate individuals who need an alternative to traditional loans due to bad credit.

With a short-term loan, these individuals can get a practical solution to their financial needs without credit evaluation. Some lenders may even report to credit bureaus, so showing your diligence in repaying can reflect well on your score.

Why choose Alpine Credits

Simple qualifying criteria

Alpine Credits focuses primarily on home equity value, and less on credit score or income status.

Quick approval and funding

Alpine Credits reviews your application significantly faster than traditional banks and lenders. Get your funds deposited in less than a week.

Personalized support

Alpine Credits has a team of Financial Solutions Specialists to help you and answer any of your questions.

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How do short-term loans work in Canada?

Short-term loans in Canada provide quick access to funds for individuals or businesses facing immediate financial needs. With repayment periods typically ranging from a few weeks to a year, these loans are often used for unexpected expenses like medical bills or urgent repairs.

Borrowers can apply through banks, credit unions, or online platforms, with faster approval processes compared to traditional loans.

Many lenders may charge higher interest rates due to the increased risk in short-term loans. But when used responsibly, a short-term loan can be a helpful financial tool when accompanied by a clear repayment plan

Types of short-term financing in Canada

Navigating financial challenges can be tough, but short-term loans in Canada offer several options to help you get back on track.

Short-Term Installment Loans

These loans allow you to borrow a set amount and repay it in equal installments over one to two years. While they can offer lower interest charges with shorter repayment terms, qualifying for an unsecured loan typically requires a strong financial background and credit history, which can be challenging for those with less-than-perfect credit.

Credit Card Cash Advances

For quick cash, a credit card cash advance is your best bet. Simply use your card at an ATM to withdraw cash. However, be mindful of the fees and high interest rates—often over 20%—that start accruing immediately.

Payday Loans

Payday loans provide fast cash, usually up to $1,500, with repayment due by your next payday—typically within one to two weeks. They require proof of income but don’t check your credit history, making them accessible for those with poor credit. However, be cautious: these loans come with very high interest rates, around 442% APR.

Home Equity Loans

Home equity loans are secured loans that let you tap into the equity of your home for lower interest rates. They’re suitable for covering expenses without dipping into savings, with repayment terms usually lasting around two years. As you make payments, you build equity, which can increase your borrowing potential over time.

Will applying for short-term loans affect my credit?

As with any financing, applying for short-term loans can require a credit check, which may cause your credit score to drop a few points. Traditional lending institutions refer to your credit score to gauge your creditworthiness.

Although only one inquiry will not likely have a significant impact, multiple applications within a brief period could damage your credit. That is why it is crucial to be selective with applications and minimize hard inquiries, ensuring you are eligible for the lender’s criteria before applying for a loan.

Regardless of what type of loan you get, paying on time will impact your credit score positively. Missed payments or defaulting on short-term loans will cause your credit score to drop every time.

Get quickly approved for a short-term loan using your home equity

A home equity loan allows you to take out the equity you’ve built in your home without selling your property. You can then use this capital to help you meet your financial needs.

With Alpine Credits, qualifying for a loan is simple. If you own at least 25% of your home, you are eligible for a home equity loan and can be approved in 24 hours or less.

Contact one of our Financial Solutions Specialists for a free, no-obligation quote today.

Find loan options in your area

Click on the links below to get started, and see the mortgage options available to you, in the provinces we serve across Canada!

All of Canada

Consolidation loans in Canada

Business capital in Canada

Personal loans in Canada

Home equity loans in Canada

Investment loans in Canada

Third mortgages in Canada

Mortgage refinancing in Canada

Frequently asked questions about short-term loans in Canada

Find answers to frequently asked questions about Alpine Credits, home equity loans, second mortgages and more.

Where can I borrow money instantly in Canada?

There are a lot of options to borrow money instantly in Canada, from banks and credit unions to alternative lenders.

Banks offer cash advances from a credit card’s line of credit but with added fees and no grace period for interest. Payday lenders can provide quick cash but impose even higher interest rates and hidden fees.

Alternative lenders like Alpine Credits offer home equity loans that can cover short funding needs using the available equity built in your home.

Which loan is best for short term?

While Canada short term loans come in various forms, consider a home equity loan if you are a homeowner. They are a more straightforward solution when you have poor credit or need to cover expenses requiring immediate funding.

What happens if you don’t pay a short-term loan?

A short-term loan can benefit someone who wants to manage their immediate financial needs, avoid long-term debt obligations, and improve their financial flexibility. However, not paying a short-term loan can lead to financial consequences that could impact your credit, causing fees to pile up and making your financial situation even more challenging.

Homeowners get approved.

Unlike traditional banks, all you need to qualify for a loan at Alpine Credits is to own your home. We make the process as quick and easy as possible. Applying won’t affect your credit score.