Spring Financial Loans offers personal loans to all Canadians except for residents of Quebec. You can get a loan with a term of between 9.99% - 35%, on amounts up to $35,000.
Spring Financial Loans will also let you pay your loan as fast as you want without any penalties, helping you save on interest. To top it off, they only require a credit score of 550 to get approved (although, there's no approval guarantee).
What you get with Spring Financial Loans
Here are the details on the loans Spring Financial Loans offers.
Verified on September 15, 2025
Why You Want It
$100 GeniusCash + Interest rates as low as 9.99% + No prepayment fees.Eligibility
- Age of majority
Provinces
AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, SK, YT
Features
Pre-approval
Flexible Terms
Loan Amounts
$500 - $35,000
APR Range
9.99% - 35%
Term Range
6 to 84 months
Minimum Credit Score
550
Secured Available
Our rating for Spring Financial Loans: 3.9 stars
Spring Financial Loans score well for providing flexible terms, high loan amounts, and a decent minimum interest rate.
There are two things that bring the score down. They aren't available to all Canadians (sorry Quebec), and they don't offer secured loans to help get lower interest rates.
Rating methodology
To evaluate personal loans, we analyze over 15 data points to generate a trustworthy Genius Rating. We consider all aspects of a personal loan, including loan amounts, APR range, term range, access to pre-approval, customer satisfaction, and how flexible the terms are, to assess its overall value. Then, the personal loan’s features are rated based on how they stack up against other available options.
Learn more about our rating methodology.
What's good about Spring Financial Loans
Here's what Spring Financial Loans has going for it.
Pros
High loan amounts
With Spring Financial Loans, you can borrow as much as $35,000, with a minimum loan amount of only $500.
Decent starting APR
The lowest APR offered by Spring Financial Loans is 9.99%, which compares well with other loan providers. However, your interest rate can be as high as 35%.
No penalties for early payments
Want to pay your loan off sooner? Spring Financial Loans has no pre-payment penalties, you're free to pay your loan as soon as you want to without incurring any additional fees.
Lower credit score requirements
Spring Financial Loans has a lower credit score requirement of 550. While lower than others, you're by no means guaranteed to get a loan, there are other factors that go into determining your eligibility for a loan.
What to watch out for with Spring Financial Loans
Here are some things to consider with Spring Financial Loans.
Cons
No secured loans available
If you have collateral you want to use to get a secured loan (to get lower interest rates), Spring Financial Loans doesn't offer any.
Not available in Quebec
It certainly isn't uncommon with financial products, but you won't be able to qualify for Spring Financial Loans if you live in Quebec.
Best alternatives to Spring Financial Loans
Here are some other loan providers and how they compare to Spring Financial Loans.
 |  |  |  | |
|---|---|---|---|---|
| Account | Spring Financial Loans | MogoMoney | LoanConnect | Cashco Flex Installment Loan |
| Genius Rating | ||||
| Why You Want It | $100 GeniusCash + Interest rates as low as 9.99% + No prepayment fees. | $50 GeniusCash + Take out your loan for a 100-day test drive + Get pre-approved in 3 minutes. | Flexible loan options from $500 to $60,000 + Interest rates start at 8.99%. | Borrow up to $7,000 for 60 months + "Buy Some Time" insurance feature. |
| Pre-approval | | | | |
| Flexible Terms | | | | |
| Loan Amounts | $500 - $35,000 | $300-$5,000 | Up to 60,000 | N/A |
| APR Range | 9.99% - 35% | 34.37% | 8.99%-46.96% | 48.99% - 55% |
| Term Range | 6 to 84 months | Open line of credit | 3-120 months | 6-60 months |
Show More | ||||
| I Want This Deal See more Spring Financial products Compare | I Want This Deal See more Mogo products Compare | Find a loan See more Loanconnect products Compare | Learn More See more Cashco products Compare |
Spring Financial Loans frequently asked questions
What are Spring Financial Loans's interest rates?
Spring Financial Loans's interest rates are between 9.99% - 35%.
Does Spring Financial Loans have prepayment penalties?
Spring Financial Loans doesn't have any prepayment penalties or fees if you pay your loan early.
Are Spring Financial Loans available in Quebec?
At this time Spring Financial Loans are not available in Quebec.
What are the requirements to qualify for Spring Financial Loans?
Spring Financial Loans require you to be the age of majority in your Canadian province (except for Quebec), have a valid ID, and a form of income. While there's no explicit credit requirement, it always helps to have a healthy credit score.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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