07/13/2026
If you're planning to apply for a loan, these insights could help you understand what lenders actually look for.
We analyzed nearly 500,000 non-bank personal loan applications from Canadians and found some surprising patterns:
- Full-time income mattered more than a higher income.
- Fair credit often outperformed good credit.
- Receiving your pay by direct deposit nearly doubled funding likelihood.
- Requesting less than $10k significantly improved your chances.
Read the full study here:
https://loanscanada.ca/stats/study-who-really-gets-approved-for-a-loan-insights-from-half-a-million-applications/