{"id":229,"date":"2021-07-07T10:36:35","date_gmt":"2021-07-07T10:36:35","guid":{"rendered":"https:\/\/www.cashwaves.ca\/blog\/?p=229"},"modified":"2026-09-16T10:00:59","modified_gmt":"2026-09-16T10:00:59","slug":"are-guaranteed-approval-loans-right-for-you","status":"publish","type":"post","link":"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/","title":{"rendered":"Are Guaranteed Approval Loans Right For You?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-white ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#What_Are_Guaranteed_Approval_Loans\" >What Are Guaranteed Approval Loans?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Are_Guaranteed_Approval_Loans_Really_Guaranteed\" >Are Guaranteed Approval Loans Really Guaranteed?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Payday_loans_can_work_differently\" >Payday loans can work differently<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#How_Does_Loan_Approval_Work_in_Canada\" >How Does Loan Approval Work in Canada?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Income\" >Income<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Existing_debt\" >Existing debt<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Credit_history\" >Credit history<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Banking_information\" >Banking information<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Loan_amount\" >Loan amount<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Can_You_Apply_for_Guaranteed_Approval_Loans_With_Bad_Credit\" >Can You Apply for Guaranteed Approval Loans With Bad Credit?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Check_your_credit_report_before_applying\" >Check your credit report before applying<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Avoid_Sending_Many_Loan_Applications_at_Once\" >Avoid Sending Many Loan Applications at Once<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Guaranteed_Approval_Loans_vs_Payday_Loans\" >Guaranteed Approval Loans vs Payday Loans<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#How_Much_Does_a_Payday_Loan_Cost\" >How Much Does a Payday Loan Cost?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#300_payday-loan_example\" >$300 payday-loan example<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#More_examples\" >More examples<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Guaranteed_Approval_Loans_vs_Installment_Loans\" >Guaranteed Approval Loans vs Installment Loans<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Why_the_Monthly_Payment_Doesnt_Tell_You_the_Full_Cost\" >Why the Monthly Payment Doesn&#8217;t Tell You the Full Cost<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#What_Should_You_Check_Before_Accepting_a_Loan\" >What Should You Check Before Accepting a Loan?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Amount_borrowed\" >Amount borrowed<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Interest_rate\" >Interest rate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#APR\" >APR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Fees\" >Fees<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Payment_amount\" >Payment amount<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Number_of_payments\" >Number of payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Total_repayment\" >Total repayment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Due_dates\" >Due dates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Consequences_of_missing_a_payment\" >Consequences of missing a payment<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Are_Guaranteed_Approval_Loans_Right_for_You\" >Are Guaranteed Approval Loans Right for You?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#When_a_Loan_May_Address_a_Temporary_Need\" >When a Loan May Address a Temporary Need<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#When_Another_Loan_May_Make_the_Problem_Worse\" >When Another Loan May Make the Problem Worse<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#What_Are_the_Warning_Signs_of_a_Misleading_Loan_Offer\" >What Are the Warning Signs of a Misleading Loan Offer?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Verify_Who_Is_Actually_Lending_the_Money\" >Verify Who Is Actually Lending the Money<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Are_No-Credit-Check_Loans_the_Same_as_Guaranteed_Approval\" >Are No-Credit-Check Loans the Same as Guaranteed Approval?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Alternatives_to_Guaranteed_Approval_Loans\" >Alternatives to Guaranteed Approval Loans<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Ask_for_more_time_to_pay_a_bill\" >Ask for more time to pay a bill<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Employer_pay_advance\" >Employer pay advance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Family_or_friends\" >Family or friends<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Line_of_credit\" >Line of credit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-40\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Overdraft_protection\" >Overdraft protection<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-41\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Credit-card_cash_advance\" >Credit-card cash advance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-42\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Existing_creditor_payment_arrangement\" >Existing creditor payment arrangement<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-43\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Questions_to_Ask_Before_Applying_for_Guaranteed_Approval_Loans\" >Questions to Ask Before Applying for Guaranteed Approval Loans<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-44\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#A_Simple_Loan_Affordability_Test\" >A Simple Loan Affordability Test<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-45\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Step_1_Monthly_income\" >Step 1: Monthly income<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-46\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Step_2_Essential_expenses\" >Step 2: Essential expenses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-47\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Step_3_Existing_debt_payments\" >Step 3: Existing debt payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-48\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Step_4_New_proposed_loan_payment\" >Step 4: New proposed loan payment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-49\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Step_5_Calculate_the_result\" >Step 5: Calculate the result<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-50\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#What_If_You_Keep_Getting_Rejected\" >What If You Keep Getting Rejected?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-51\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Your_credit_report\" >Your credit report<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-52\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Your_total_debt\" >Your total debt<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-53\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Your_income_and_expenses\" >Your income and expenses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-54\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#The_amount_requested\" >The amount requested<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-55\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Your_recent_credit_applications\" >Your recent credit applications<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-56\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Dont_Use_Approval_as_the_Measure_of_a_Good_Loan\" >Don&#8217;t Use Approval as the Measure of a Good Loan<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-57\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#The_Bottom_Line_on_Guaranteed_Approval_Loans_in_Canada\" >The Bottom Line on Guaranteed Approval Loans in Canada<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-58\" href=\"https:\/\/www.cashwaves.ca\/blog\/are-guaranteed-approval-loans-right-for-you\/#Frequently_asked_questions\" >Frequently asked questions<\/a><\/li><\/ul><\/nav><\/div>\n\n<p class=\"wp-block-paragraph\"><strong>Guaranteed Approval Loans<\/strong> can sound appealing when you need money quickly or are worried that poor credit may lead to another rejection.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But the word <strong>\u201cguaranteed\u201d should not be interpreted as automatic loan approval<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A real lender still needs to decide whether an applicant meets its requirements. Depending on the type of loan, that review may consider income, existing debts, banking information, credit history and the applicant&#8217;s ability to repay.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CashWaves also states that it is <strong>not a lender and does not make final credit decisions or guarantee funding<\/strong>. You can read its <a href=\"https:\/\/www.cashwaves.ca\/responsible-lending.html\">responsible lending guidance<\/a> for more information.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The more useful question is therefore not:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u201cWhere can I get a guaranteed loan?\u201d<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u201cWhat loan might I reasonably qualify for, what will it cost, and can I repay it without making my finances worse?\u201d<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_Guaranteed_Approval_Loans\"><\/span>What Are Guaranteed Approval Loans?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The phrase <strong>Guaranteed Approval Loans<\/strong> usually refers to loans marketed toward people who are concerned about conventional approval requirements.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That may include people with:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>poor credit<\/li>\n\n\n\n<li>limited credit history<\/li>\n\n\n\n<li>previous loan rejections<\/li>\n\n\n\n<li>lower credit scores<\/li>\n\n\n\n<li>urgent cash needs<\/li>\n\n\n\n<li>difficulty qualifying through a traditional bank<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">However, \u201cGuaranteed Approval Loans\u201d is not one standardized financial product.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Depending on the website or lender, the phrase may be used in connection with:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>payday loans<\/li>\n\n\n\n<li>installment loans<\/li>\n\n\n\n<li>personal loans<\/li>\n\n\n\n<li>bad-credit loans<\/li>\n\n\n\n<li>short-term online loans<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">These products can have very different:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>loan amounts<\/li>\n\n\n\n<li>repayment periods<\/li>\n\n\n\n<li>interest rates<\/li>\n\n\n\n<li>fees<\/li>\n\n\n\n<li>eligibility requirements<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">That is why you should identify the <strong>actual loan type<\/strong> instead of making a decision based on the phrase \u201cguaranteed approval.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CashWaves provides additional context in its guide to <a href=\"https:\/\/www.cashwaves.ca\/guaranteed-approval-loans.html\">guaranteed approval loans in Canada<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Are_Guaranteed_Approval_Loans_Really_Guaranteed\"><\/span>Are Guaranteed Approval Loans Really Guaranteed?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">No borrower should assume approval simply because a website uses the words \u201cguaranteed approval.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Conventional lenders evaluate applications using their own underwriting criteria.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For personal loans, the <a href=\"https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/loans\/personal-loans.html\" target=\"_blank\" rel=\"noopener\">Financial Consumer Agency of Canada<\/a> says lenders commonly require evidence such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>regular income<\/li>\n\n\n\n<li>a bank account<\/li>\n\n\n\n<li>a permanent address<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Most personal-loan lenders also perform a credit check.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Your:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>credit report<\/li>\n\n\n\n<li>credit score<\/li>\n\n\n\n<li>current debts<\/li>\n\n\n\n<li>income<\/li>\n\n\n\n<li>repayment history<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">may affect both your approval and the terms you&#8217;re offered.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Payday_loans_can_work_differently\"><\/span>Payday loans can work differently<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">FCAC notes that someone <strong>may<\/strong> qualify for a payday loan without a conventional credit check.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That does not mean every payday-loan application is approved.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The lender may still need information about income, banking and repayment ability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A better way to interpret a \u201cguaranteed approval\u201d search result is:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The lender may consider applicants who don&#8217;t meet traditional bank-lending standards, but the application still needs to be reviewed.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Does_Loan_Approval_Work_in_Canada\"><\/span>How Does Loan Approval Work in Canada?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Different lenders use different criteria, so there is no universal approval formula.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Still, several factors commonly matter.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income\"><\/span>Income<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A lender wants to know whether you have money available to make the required payments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Income may come from employment or another accepted source depending on the lender and product.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Existing_debt\"><\/span>Existing debt<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A person earning a reasonable income can still have difficulty qualifying if much of that income is already committed to debt payments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Credit_history\"><\/span>Credit history<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For many personal loans, lenders review your credit report.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It can show information such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>loans<\/li>\n\n\n\n<li>credit cards<\/li>\n\n\n\n<li>amounts owing<\/li>\n\n\n\n<li>payment history<\/li>\n\n\n\n<li>missed payments<\/li>\n\n\n\n<li>collection accounts<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The Government of Canada&#8217;s <a href=\"https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/credit-reports-score\/credit-report-score-basics.html\" target=\"_blank\" rel=\"noopener\">credit report and score guide<\/a> explains how lenders may use this information when evaluating credit applications.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Banking_information\"><\/span>Banking information<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Some online lenders may verify banking activity or require an active bank account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Loan_amount\"><\/span>Loan amount<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Applying for a smaller amount may produce a different lending decision than requesting the maximum available.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Borrow only what you actually need rather than assuming a larger approval is financially better.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Can_You_Apply_for_Guaranteed_Approval_Loans_With_Bad_Credit\"><\/span>Can You Apply for Guaranteed Approval Loans With Bad Credit?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Having bad credit does not automatically prevent you from applying for a loan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, it may affect:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>which lenders will consider the application<\/li>\n\n\n\n<li>the amount offered<\/li>\n\n\n\n<li>the interest rate<\/li>\n\n\n\n<li>repayment terms<\/li>\n\n\n\n<li>whether security is required<\/li>\n\n\n\n<li>whether the application is approved<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">FCAC explains that credit scores are used by lenders to judge how risky it may be to lend money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A lower score may therefore reduce your options or result in more expensive borrowing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Check_your_credit_report_before_applying\"><\/span>Check your credit report before applying<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Canadians can access their credit reports online for free through Equifax and TransUnion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Checking your own report does <strong>not<\/strong> hurt your credit rating.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Use the Government of Canada&#8217;s guide to <a href=\"https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/credit-reports-score\/order-credit-report.html\" target=\"_blank\" rel=\"noopener\">getting your credit report and credit score<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Review the report for:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>incorrect balances<\/li>\n\n\n\n<li>payments wrongly shown as late<\/li>\n\n\n\n<li>accounts you don&#8217;t recognize<\/li>\n\n\n\n<li>collection information<\/li>\n\n\n\n<li>signs of identity fraud<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">An error on your report may affect your ability to qualify or the rate you&#8217;re offered.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Avoid_Sending_Many_Loan_Applications_at_Once\"><\/span>Avoid Sending Many Loan Applications at Once<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">When you&#8217;re worried about rejection, it can be tempting to apply to many lenders at the same time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Be careful.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some loan applications result in <strong>hard credit inquiries<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FCAC says repeated hard inquiries within a short period can affect your credit score and may make lenders think you&#8217;re urgently seeking credit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Apply thoughtfully instead of sending applications everywhere.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before applying, try to understand:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>basic eligibility<\/li>\n\n\n\n<li>loan type<\/li>\n\n\n\n<li>likely cost<\/li>\n\n\n\n<li>repayment schedule<\/li>\n\n\n\n<li>whether a credit check is expected<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Guaranteed_Approval_Loans_vs_Payday_Loans\"><\/span>Guaranteed Approval Loans vs Payday Loans<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Some searches for Guaranteed Approval Loans lead to payday-loan products.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A payday loan is a specific type of short-term, high-cost credit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FCAC currently describes payday loans as allowing borrowers to obtain up to <strong>$1,500<\/strong> and providing up to <strong>62 days<\/strong> for repayment in applicable circumstances.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Payday loans typically:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>are for relatively small amounts<\/li>\n\n\n\n<li>have short repayment periods<\/li>\n\n\n\n<li>use a cost per $100 borrowed<\/li>\n\n\n\n<li>may not require a conventional credit check<\/li>\n\n\n\n<li>are considerably more expensive than many other types of credit<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For current official information, see the <a href=\"https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/loans\/payday-loans.html\" target=\"_blank\" rel=\"noopener\">Government of Canada payday-loan guide<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CashWaves also provides an educational guide to <a href=\"https:\/\/www.cashwaves.ca\/instant-payday-loans.html\">instant payday loans in Canada<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Much_Does_a_Payday_Loan_Cost\"><\/span>How Much Does a Payday Loan Cost?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In provinces with regulated payday-loan fees, FCAC currently states that the maximum cost is:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>$14 for every $100 borrowed<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"300_payday-loan_example\"><\/span>$300 payday-loan example<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Amount borrowed:<\/strong> $300<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>$300 \u00f7 $100 = 3<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>3 \u00d7 $14 = $42 borrowing cost<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Total repayment: $342<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FCAC uses the same $300 example in its current consumer guidance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"More_examples\"><\/span>More examples<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><th class=\"has-text-align-right\" data-align=\"right\">Amount Borrowed<\/th><th class=\"has-text-align-right\" data-align=\"right\">Maximum Borrowing Cost<\/th><th class=\"has-text-align-right\" data-align=\"right\">Total Repayment<\/th><\/tr><tr><td class=\"has-text-align-right\" data-align=\"right\">$100<\/td><td class=\"has-text-align-right\" data-align=\"right\">$14<\/td><td class=\"has-text-align-right\" data-align=\"right\">$114<\/td><\/tr><tr><td class=\"has-text-align-right\" data-align=\"right\">$300<\/td><td class=\"has-text-align-right\" data-align=\"right\">$42<\/td><td class=\"has-text-align-right\" data-align=\"right\">$342<\/td><\/tr><tr><td class=\"has-text-align-right\" data-align=\"right\">$500<\/td><td class=\"has-text-align-right\" data-align=\"right\">$70<\/td><td class=\"has-text-align-right\" data-align=\"right\">$570<\/td><\/tr><tr><td class=\"has-text-align-right\" data-align=\"right\">$1,000<\/td><td class=\"has-text-align-right\" data-align=\"right\">$140<\/td><td class=\"has-text-align-right\" data-align=\"right\">$1,140<\/td><\/tr><tr><td class=\"has-text-align-right\" data-align=\"right\">$1,500<\/td><td class=\"has-text-align-right\" data-align=\"right\">$210<\/td><td class=\"has-text-align-right\" data-align=\"right\">$1,710<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">These examples assume repayment on time and the $14-per-$100 maximum fee.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additional permitted costs may arise if repayment fails, depending on applicable rules and circumstances.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Guaranteed_Approval_Loans_vs_Installment_Loans\"><\/span>Guaranteed Approval Loans vs Installment Loans<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">An installment loan normally allows repayment over multiple scheduled payments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CashWaves explains this structure in its <a href=\"https:\/\/www.cashwaves.ca\/installment-loans.html\">installment loans in Canada guide<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A simplified comparison looks like this:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><th>Feature<\/th><th>Payday Loan<\/th><th>Installment \/ Personal Loan<\/th><\/tr><tr><td>Repayment<\/td><td>Usually short-term<\/td><td>Multiple scheduled payments<\/td><\/tr><tr><td>Typical structure<\/td><td>Fee per $100<\/td><td>Interest and possible fees<\/td><\/tr><tr><td>Loan size<\/td><td>Usually smaller<\/td><td>May be larger<\/td><\/tr><tr><td>Credit check<\/td><td>May not always be used<\/td><td>Common for personal loans<\/td><\/tr><tr><td>Term<\/td><td>Short<\/td><td>Usually longer<\/td><\/tr><tr><td>Total cost<\/td><td>Can be very high<\/td><td>Varies greatly by lender and term<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Do not assume a longer-term loan is automatically cheaper.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The interest rate may be lower while the longer term creates more total interest.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_the_Monthly_Payment_Doesnt_Tell_You_the_Full_Cost\"><\/span>Why the Monthly Payment Doesn&#8217;t Tell You the Full Cost<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Suppose you borrow <strong>$2,000<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A lender may offer:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>a higher monthly payment over a shorter period<\/li>\n\n\n\n<li>a smaller payment over a longer period<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The smaller payment may look easier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But the total repayment could be larger because interest has more time to accumulate.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FCAC provides an example of a $2,000 personal loan at 19.99%:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><th class=\"has-text-align-right\" data-align=\"right\">Term<\/th><th class=\"has-text-align-right\" data-align=\"right\">Example Monthly Payment<\/th><th class=\"has-text-align-right\" data-align=\"right\">Example Total Cost<\/th><\/tr><tr><td class=\"has-text-align-right\" data-align=\"right\">12 months<\/td><td class=\"has-text-align-right\" data-align=\"right\">$185<\/td><td class=\"has-text-align-right\" data-align=\"right\">$2,220<\/td><\/tr><tr><td class=\"has-text-align-right\" data-align=\"right\">36 months<\/td><td class=\"has-text-align-right\" data-align=\"right\">$75<\/td><td class=\"has-text-align-right\" data-align=\"right\">$2,700<\/td><\/tr><tr><td class=\"has-text-align-right\" data-align=\"right\">60 months<\/td><td class=\"has-text-align-right\" data-align=\"right\">$53<\/td><td class=\"has-text-align-right\" data-align=\"right\">$3,180<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The lesson is simple:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Do not compare loans using the monthly payment alone.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Compare:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>payment amount \u00d7 number of payments = approximate total repayment<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Then add or verify any other applicable fees.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Should_You_Check_Before_Accepting_a_Loan\"><\/span>What Should You Check Before Accepting a Loan?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before accepting any offer, identify the following.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Amount_borrowed\"><\/span>Amount borrowed<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">How much money will actually be advanced?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Interest_rate\"><\/span>Interest rate<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Is it fixed or variable?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"APR\"><\/span>APR<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">APR can make borrowing costs easier to compare across products.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fees\"><\/span>Fees<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Ask about:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>administration charges<\/li>\n\n\n\n<li>origination charges<\/li>\n\n\n\n<li>optional insurance<\/li>\n\n\n\n<li>payment-related fees<\/li>\n\n\n\n<li>early repayment charges, if applicable<\/li>\n\n\n\n<li>default-related charges<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Payment_amount\"><\/span>Payment amount<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">How much is each payment?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Number_of_payments\"><\/span>Number of payments<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A low payment can hide a long loan term.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Total_repayment\"><\/span>Total repayment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">How much will you have paid when the loan is completely finished?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Due_dates\"><\/span>Due dates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Make sure the repayment dates fit your income schedule.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Consequences_of_missing_a_payment\"><\/span>Consequences of missing a payment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Understand what happens if your income is delayed or an unexpected expense prevents repayment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Government of Canada&#8217;s guide on <a href=\"https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/loans\/consider-borrow.html\" target=\"_blank\" rel=\"noopener\">what to consider before borrowing money<\/a> recommends reviewing these issues before committing to debt.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Are_Guaranteed_Approval_Loans_Right_for_You\"><\/span>Are Guaranteed Approval Loans Right for You?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A loan cannot be evaluated only by whether you qualify.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Affordability matters more.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Start with this calculation:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Monthly income \u2212 essential expenses \u2212 existing debt payments = available amount<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Monthly income:<\/strong> $4,200<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Essential expenses:<\/strong> $3,300<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Existing debt payments:<\/strong> $500<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That leaves:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>$4,200 \u2212 $3,300 \u2212 $500 = $400<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A new $350 monthly payment would leave only $50 of breathing room before any unexpected expense.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That may be technically possible but financially fragile.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now consider someone with:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Income:<\/strong> $4,200<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Expenses:<\/strong> $4,400<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They already have:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>$200 monthly deficit<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Adding another loan payment does not fix that problem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The loan may temporarily provide cash while increasing the ongoing monthly shortfall.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_a_Loan_May_Address_a_Temporary_Need\"><\/span>When a Loan May Address a Temporary Need<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Borrowing may be considered differently when the problem is truly temporary.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>an urgent vehicle repair is needed to continue working<\/li>\n\n\n\n<li>a necessary expense falls a few days before reliable income arrives<\/li>\n\n\n\n<li>an essential household repair cannot reasonably wait<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Even then, compare alternatives first and calculate the full repayment cost.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_Another_Loan_May_Make_the_Problem_Worse\"><\/span>When Another Loan May Make the Problem Worse<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Be particularly cautious if you&#8217;re borrowing because:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>income is regularly lower than monthly expenses<\/li>\n\n\n\n<li>another loan payment is already overdue<\/li>\n\n\n\n<li>you need a new loan to repay an old loan<\/li>\n\n\n\n<li>credit cards are at or near their limits<\/li>\n\n\n\n<li>you regularly borrow between paydays<\/li>\n\n\n\n<li>you cannot predict how the new loan will be repaid<\/li>\n\n\n\n<li>you are using loans for ordinary monthly living costs every month<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Those are signs that the issue may be an ongoing cash-flow or debt problem rather than a one-time emergency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CashWaves&#8217; <a href=\"https:\/\/www.cashwaves.ca\/financial-tips.html\">Financial Tips for Canadians<\/a> includes additional budgeting and responsible-borrowing resources.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_the_Warning_Signs_of_a_Misleading_Loan_Offer\"><\/span>What Are the Warning Signs of a Misleading Loan Offer?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Be cautious when an advertisement makes an offer sound certain before it knows anything meaningful about your finances.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Warning signs may include claims such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u201c100% approved\u201d<\/li>\n\n\n\n<li>\u201ceveryone qualifies\u201d<\/li>\n\n\n\n<li>\u201capproval no matter what\u201d<\/li>\n\n\n\n<li>\u201cno financial information required\u201d<\/li>\n\n\n\n<li>pressure to act immediately<\/li>\n\n\n\n<li>unclear lender identity<\/li>\n\n\n\n<li>refusal to explain fees<\/li>\n\n\n\n<li>requests to send money before loan funds are released<\/li>\n\n\n\n<li>requests for passwords or online-banking login credentials<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">A legitimate lending decision should come with clear terms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Do not send money simply because someone promises that paying an upfront amount will \u201cunlock\u201d a loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Verify_Who_Is_Actually_Lending_the_Money\"><\/span>Verify Who Is Actually Lending the Money<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A website that provides loan information or refers applicants is not necessarily the lender.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CashWaves states in its <a href=\"https:\/\/www.cashwaves.ca\/responsible-lending.html\">Responsible Lending policy<\/a> that it does not:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>issue loans<\/li>\n\n\n\n<li>make final approval decisions<\/li>\n\n\n\n<li>set lender terms<\/li>\n\n\n\n<li>guarantee funding<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">If you receive a loan offer, identify:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>the lender&#8217;s legal name<\/li>\n\n\n\n<li>where the lender operates<\/li>\n\n\n\n<li>the actual loan agreement<\/li>\n\n\n\n<li>interest and fees<\/li>\n\n\n\n<li>repayment obligations<\/li>\n\n\n\n<li>applicable provincial rules<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For payday lending, FCAC specifically recommends dealing with a licensed lender and checking with the relevant provincial or territorial consumer affairs authority.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Are_No-Credit-Check_Loans_the_Same_as_Guaranteed_Approval\"><\/span>Are No-Credit-Check Loans the Same as Guaranteed Approval?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">No.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A lender not using a conventional credit check does not mean the application is automatically approved.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The lender may consider other information such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>income<\/li>\n\n\n\n<li>banking history<\/li>\n\n\n\n<li>current financial obligations<\/li>\n\n\n\n<li>identity<\/li>\n\n\n\n<li>province of residence<\/li>\n\n\n\n<li>repayment capacity<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The phrases:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u201cno credit check\u201d<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">and:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u201cguaranteed approval\u201d<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">do not mean the same thing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Alternatives_to_Guaranteed_Approval_Loans\"><\/span>Alternatives to Guaranteed Approval Loans<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before using high-cost credit, consider whether another option could solve the problem for less.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Depending on your circumstances, alternatives may include:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ask_for_more_time_to_pay_a_bill\"><\/span>Ask for more time to pay a bill<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A service provider may offer a payment arrangement.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Employer_pay_advance\"><\/span>Employer pay advance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Some workplaces may provide an advance on earned income.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Family_or_friends\"><\/span>Family or friends<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This can be cheaper but should still be treated clearly to avoid damaging relationships.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Line_of_credit\"><\/span>Line of credit<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If available, a line of credit may carry lower borrowing costs than a payday loan.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Overdraft_protection\"><\/span>Overdraft protection<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This may be less expensive for a very short cash-flow gap, depending on your account terms.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Credit-card_cash_advance\"><\/span>Credit-card cash advance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It can still be expensive and typically begins charging interest immediately, but FCAC&#8217;s examples show it may cost less than payday borrowing in some situations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Existing_creditor_payment_arrangement\"><\/span>Existing creditor payment arrangement<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If another payment is causing the shortage, contact that creditor before adding a new debt.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FCAC lists several of these options in its <a href=\"https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/loans\/payday-loans.html\" target=\"_blank\" rel=\"noopener\">payday-loan alternatives guidance<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Questions_to_Ask_Before_Applying_for_Guaranteed_Approval_Loans\"><\/span>Questions to Ask Before Applying for Guaranteed Approval Loans<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before applying, answer these questions.<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>What type of loan am I actually applying for?<\/strong><\/li>\n\n\n\n<li><strong>Who is the lender?<\/strong><\/li>\n\n\n\n<li><strong>Is approval conditional?<\/strong><\/li>\n\n\n\n<li><strong>Will the lender perform a credit check?<\/strong><\/li>\n\n\n\n<li><strong>How much do I really need?<\/strong><\/li>\n\n\n\n<li><strong>What is the interest rate or fee structure?<\/strong><\/li>\n\n\n\n<li><strong>What is the APR where applicable?<\/strong><\/li>\n\n\n\n<li><strong>What fees are included?<\/strong><\/li>\n\n\n\n<li><strong>How many payments will I make?<\/strong><\/li>\n\n\n\n<li><strong>What is the total repayment amount?<\/strong><\/li>\n\n\n\n<li><strong>Can I repay it without skipping rent, groceries or utilities?<\/strong><\/li>\n\n\n\n<li><strong>What happens if I miss a payment?<\/strong><\/li>\n\n\n\n<li><strong>Can I repay early?<\/strong><\/li>\n\n\n\n<li><strong>Would another borrowing option cost less?<\/strong><\/li>\n\n\n\n<li><strong>Am I borrowing because of a one-time problem or a recurring monthly deficit?<\/strong><\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">If you cannot answer these questions from the loan agreement, don&#8217;t rush.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ask the lender for clarification before accepting the offer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"A_Simple_Loan_Affordability_Test\"><\/span>A Simple Loan Affordability Test<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Use this basic worksheet before borrowing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_1_Monthly_income\"><\/span>Step 1: Monthly income<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Write down reliable take-home income.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_2_Essential_expenses\"><\/span>Step 2: Essential expenses<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>housing<\/li>\n\n\n\n<li>groceries<\/li>\n\n\n\n<li>utilities<\/li>\n\n\n\n<li>transportation<\/li>\n\n\n\n<li>insurance<\/li>\n\n\n\n<li>essential health costs<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_3_Existing_debt_payments\"><\/span>Step 3: Existing debt payments<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>credit cards<\/li>\n\n\n\n<li>lines of credit<\/li>\n\n\n\n<li>car loans<\/li>\n\n\n\n<li>installment loans<\/li>\n\n\n\n<li>other required debt payments<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_4_New_proposed_loan_payment\"><\/span>Step 4: New proposed loan payment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Add the new payment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_5_Calculate_the_result\"><\/span>Step 5: Calculate the result<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Income \u2212 expenses \u2212 existing debts \u2212 new loan = remaining cash<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the result is close to zero or negative, the loan may place your budget under greater pressure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Remember that a budget also needs room for irregular expenses and emergencies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_If_You_Keep_Getting_Rejected\"><\/span>What If You Keep Getting Rejected?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Repeated applications may not solve the reason for rejection.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead, review:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Your_credit_report\"><\/span>Your credit report<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Check for errors or unpaid accounts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Your_total_debt\"><\/span>Your total debt<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">High existing debt may affect a lender&#8217;s decision.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Your_income_and_expenses\"><\/span>Your income and expenses<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Determine whether the requested payment is realistically affordable.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_amount_requested\"><\/span>The amount requested<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The loan may simply be too large relative to your financial situation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Your_recent_credit_applications\"><\/span>Your recent credit applications<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Many recent applications can create additional hard inquiries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FCAC&#8217;s guide on <a href=\"https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/credit-reports-score\/improve-credit-score.html\" target=\"_blank\" rel=\"noopener\">improving your credit score<\/a> recommends paying bills on time, managing credit utilization and limiting unnecessary applications.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dont_Use_Approval_as_the_Measure_of_a_Good_Loan\"><\/span>Don&#8217;t Use Approval as the Measure of a Good Loan<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">An approval decision tells you only that a lender is willing to offer credit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It does not automatically mean:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>the loan is inexpensive<\/li>\n\n\n\n<li>the loan is necessary<\/li>\n\n\n\n<li>the payment fits your budget<\/li>\n\n\n\n<li>another option would not cost less<\/li>\n\n\n\n<li>borrowing is the right solution to your financial problem<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">A borrower and a lender are asking different questions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The lender asks:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u201cWill we approve this application under our criteria?\u201d<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You should ask:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u201cWill this loan improve or weaken my financial position after I repay it?\u201d<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That second question matters more.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Bottom_Line_on_Guaranteed_Approval_Loans_in_Canada\"><\/span>The Bottom Line on Guaranteed Approval Loans in Canada<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The phrase <strong>Guaranteed Approval Loans<\/strong> should not be treated as a promise that every applicant will receive money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Approval depends on the lender and the product.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For some people, alternative lenders may provide access to credit when conventional options are limited. But easier access to an application does not make borrowing inexpensive or automatically suitable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before applying:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>identify the actual loan type<\/li>\n\n\n\n<li>check the lender<\/li>\n\n\n\n<li>understand the total cost<\/li>\n\n\n\n<li>calculate repayment affordability<\/li>\n\n\n\n<li>review your credit information where relevant<\/li>\n\n\n\n<li>compare alternatives<\/li>\n\n\n\n<li>borrow only what you need<\/li>\n\n\n\n<li>avoid using new debt to repeatedly cover an ongoing monthly deficit<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">If you&#8217;re considering short-term credit, review CashWaves&#8217; <a href=\"https:\/\/www.cashwaves.ca\/responsible-lending.html\">Responsible Lending guide<\/a> before applying.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-uagb-faq uagb-faq__outer-wrap uagb-block-37e7b535 uagb-faq-icon-row-reverse uagb-faq-layout-accordion uagb-faq-expand-first-true uagb-faq-inactive-other-true uagb-faq__wrap uagb-buttons-layout-wrap uagb-faq-equal-height     \" data-faqtoggle=\"true\" role=\"tablist\"><script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\\\/\\\/www.cashwaves.ca\\\/blog\\\/are-guaranteed-approval-loans-right-for-you\\\/\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Are Guaranteed Approval Loans actually guaranteed in Canada?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No applicant should assume approval is automatic.<br><br>Lenders use their own eligibility and underwriting requirements. CashWaves also states that it does not guarantee approval or make final credit decisions.\"}},{\"@type\":\"Question\",\"name\":\"Can I get Guaranteed Approval Loans with bad credit?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You may still be able to apply for certain loan products with poor credit, but approval isn't certain.<br><br>Bad credit may also affect the interest rate, amount or type of loan available.\"}},{\"@type\":\"Question\",\"name\":\"Can I get a loan without a credit check?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Some payday lenders may not use a conventional credit check. Most conventional personal-loan lenders, however, review credit information. A no-credit-check process is not the same as guaranteed approval.\"}},{\"@type\":\"Question\",\"name\":\"Does applying for a loan affect my credit score?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It may.<br><br>A lender's hard credit inquiry can appear on your credit report and affect your score. Checking your own credit report is a soft inquiry and does not hurt your credit rating.\"}},{\"@type\":\"Question\",\"name\":\"How much can I borrow with a payday loan in Canada?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"FCAC describes payday loans as allowing borrowers to obtain up to <strong>$1,500<\\\/strong>, with repayment periods of up to <strong>62 days<\\\/strong> depending on the applicable framework.\"}},{\"@type\":\"Question\",\"name\":\"How much does a $500 payday loan cost?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"At a maximum cost of $14 per $100:<br><br><strong>$500 \\u00f7 $100 = 5<\\\/strong><br><strong>5 \\u00d7 $14 = $70<\\\/strong><br><br>The total repayment would be <strong>$570<\\\/strong>, assuming repayment on time and no additional permitted charges.\"}},{\"@type\":\"Question\",\"name\":\"Are installment loans cheaper than payday loans?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Not necessarily.<br><br>Installment loans have longer repayment schedules and use a different pricing structure. Total cost depends on the interest rate, fees and repayment term. Compare the total amount repaid rather than only the size of each payment\"}},{\"@type\":\"Question\",\"name\":\"Should I borrow if I already have trouble paying monthly expenses?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Adding another loan payment may worsen an ongoing monthly deficit.<br><br>Review your budget and lower-cost alternatives first. If debt is already difficult to manage, consider reputable debt or credit-counselling resources.\"}},{\"@type\":\"Question\",\"name\":\"Where can I find official Canadian borrowing information?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Financial Consumer Agency of Canada provides independent information through its <a href=\\\"https:\\\/\\\/www.canada.ca\\\/en\\\/financial-consumer-agency\\\/services\\\/loans.html\\\">Loans and Lines of Credit resource centre<\\\/a>.\"}}]}<\/script><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-c09cd37b \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">Are Guaranteed Approval Loans actually guaranteed in Canada?<\/span><\/div><div class=\"uagb-faq-content\"><p>No applicant should assume approval is automatic.<br><br>Lenders use their own eligibility and underwriting requirements. CashWaves also states that it does not guarantee approval or make final credit decisions.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-0dabded2 \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">Can I get Guaranteed Approval Loans with bad credit?<\/span><\/div><div class=\"uagb-faq-content\"><p>You may still be able to apply for certain loan products with poor credit, but approval isn&#8217;t certain.<br><br>Bad credit may also affect the interest rate, amount or type of loan available.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-d8942cf7 \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">Can I get a loan without a credit check?<\/span><\/div><div class=\"uagb-faq-content\"><p>Some payday lenders may not use a conventional credit check. Most conventional personal-loan lenders, however, review credit information. A no-credit-check process is not the same as guaranteed approval.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-af3d1355 \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">Does applying for a loan affect my credit score?<\/span><\/div><div class=\"uagb-faq-content\"><p>It may.<br><br>A lender&#8217;s hard credit inquiry can appear on your credit report and affect your score. Checking your own credit report is a soft inquiry and does not hurt your credit rating.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-8328361a \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">How much can I borrow with a payday loan in Canada?<\/span><\/div><div class=\"uagb-faq-content\"><p>FCAC describes payday loans as allowing borrowers to obtain up to <strong>$1,500<\/strong>, with repayment periods of up to <strong>62 days<\/strong> depending on the applicable framework.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-cc084d5c \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">How much does a $500 payday loan cost?<\/span><\/div><div class=\"uagb-faq-content\"><p>At a maximum cost of $14 per $100:<br><br><strong>$500 \u00f7 $100 = 5<\/strong><br><strong>5 \u00d7 $14 = $70<\/strong><br><br>The total repayment would be <strong>$570<\/strong>, assuming repayment on time and no additional permitted charges.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-59c52148 \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">Are installment loans cheaper than payday loans?<\/span><\/div><div class=\"uagb-faq-content\"><p>Not necessarily.<br><br>Installment loans have longer repayment schedules and use a different pricing structure. Total cost depends on the interest rate, fees and repayment term. Compare the total amount repaid rather than only the size of each payment<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-f809283f \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">Should I borrow if I already have trouble paying monthly expenses?<\/span><\/div><div class=\"uagb-faq-content\"><p>Adding another loan payment may worsen an ongoing monthly deficit.<br><br>Review your budget and lower-cost alternatives first. If debt is already difficult to manage, consider reputable debt or credit-counselling resources.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-4d032bf6 \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">Where can I find official Canadian borrowing information?<\/span><\/div><div class=\"uagb-faq-content\"><p>The Financial Consumer Agency of Canada provides independent information through its <a href=\"https:\/\/www.canada.ca\/en\/financial-consumer-agency\/services\/loans.html\" target=\"_blank\" rel=\"noopener\">Loans and Lines of Credit resource centre<\/a>.<\/p><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Guaranteed Approval Loans can sound appealing when you need money quickly or are worried that poor credit may lead to another rejection. But the word \u201cguaranteed\u201d should not be interpreted as automatic loan approval. A real lender still needs to decide whether an applicant meets its requirements. Depending on the type of loan, that review [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":"","_yoast_wpseo_title":"Guaranteed Approval Loans Right For You In Financial Emergencies","_yoast_wpseo_metadesc":"Guaranteed online payday loans there are also some benefits that make them the best solution in financial crises no matter what Canada","_yoast_wpseo_focuskw":"Guaranteed Approval Loans","rank_math_title":"Guaranteed Approval Loans in Canada: Are They Right for You?","rank_math_description":"Guaranteed Approval Loans in Canada aren't truly guaranteed. Learn how approval works, costs, risks, alternatives and what to check before borrowing.","rank_math_focus_keyword":"Guaranteed Approval Loans","_dpc-meta-title":"","_dpc-meta-description":"","_dpc-keyword":""},"categories":[11],"tags":[50,49,51],"class_list":["post-229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guaranteed-payday-loans","tag-disability-payday-loans","tag-guaranteed-approval-loans","tag-instant-payday-loans"],"uagb_featured_image_src":{"full":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans.webp",1920,1080,false],"thumbnail":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-150x150.webp",150,150,true],"medium":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-300x169.webp",300,169,true],"medium_large":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-768x432.webp",640,360,true],"large":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-1024x576.webp",640,360,true],"1536x1536":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-1536x864.webp",1536,864,true],"2048x2048":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans.webp",1920,1080,false],"post-thumbnail":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-768x432.webp",768,432,true],"color-blog-full-width":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-1160x653.webp",1160,653,true],"color-blog-post":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-600x400.webp",600,400,true],"color-blog-post-auto":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-600x338.webp",600,338,true],"color-blog-slider-post":["https:\/\/www.cashwaves.ca\/blog\/wp-content\/uploads\/2021\/07\/Guaranteed-Approval-Loans-1200x700.webp",1200,700,true]},"uagb_author_info":{"display_name":false,"author_link":"https:\/\/www.cashwaves.ca\/blog\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"Guaranteed Approval Loans can sound appealing when you need money quickly or are worried that poor credit may lead to another rejection. But the word \u201cguaranteed\u201d should not be interpreted as automatic loan approval. A real lender still needs to decide whether an applicant meets its requirements. Depending on the type of loan, that review&hellip;","_links":{"self":[{"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/posts\/229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/comments?post=229"}],"version-history":[{"count":4,"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/posts\/229\/revisions"}],"predecessor-version":[{"id":500,"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/posts\/229\/revisions\/500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/media\/349"}],"wp:attachment":[{"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/media?parent=229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/categories?post=229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashwaves.ca\/blog\/wp-json\/wp\/v2\/tags?post=229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}