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Need to cover a bigger expense over time? A personal loan can help with a car repair, a medical bill, moving costs, or consolidating debt — and with Bolt Payday you can start your request online in just a few minutes. Complete the secure form to get a fast decision, and once approved, your funds are sent directly to your bank account and repaid in easy, fixed instalments.
How personal loans work
A personal loan is an amount you borrow and repay in fixed, regular instalments — weekly, bi-weekly, or monthly — over several months, instead of all at once on your next payday. Each payment covers part of what you borrowed plus interest, so you always know your payment amount and your end date from the start. In Canada, personal loans are capped at a maximum of 35% APR, while in the USA, rates and limits are set by each state. The process is simple: submit your request, get a quick decision, receive your funds, and repay on your agreed schedule.
Personal loans at a glance
| Feature | Canada | USA |
|---|---|---|
| Loan type | Unsecured instalment loan | Unsecured instalment loan |
| Repayment | Fixed weekly, bi-weekly, or monthly payments | Fixed weekly, bi-weekly, or monthly payments |
| Maximum rate | 35% APR (federal limit) | Set by each state |
| How you get funds | Interac e-Transfer or direct deposit | Direct deposit |
| Regulated by | Federal law + provincial regulators | State regulators + federal disclosure rules |
| How to apply | Online, 24/7 | Online, 24/7 |
Rules can change — always confirm current limits with your provincial or state regulator.
Frequently asked questions
Yes, it may still be possible. We look at your income and ability to repay, not just your credit score. Approval is never guaranteed, but a less-than-perfect credit history doesn’t automatically rule you out.
The amount you’re offered depends on your income, your existing debts, and the rules in your province or state. You’ll see your exact loan amount, payments, and total cost before you sign.
You repay in fixed instalments on a schedule agreed in your loan agreement — weekly, bi-weekly, or monthly, often matched to your payday. You can see every payment date before you commit.
Once you’re approved and your agreement is signed, funds are sent directly to your bank account — by Interac e-Transfer or direct deposit in Canada, and by direct deposit in the USA.
We accept applications from most provinces and states. Personal loan rules differ by location, so choose your country above to see the options available where you live.
Contact us before your due date through our contact page. Missed payments can lead to extra charges and may affect your credit, so reaching out early gives you the most options.