Bad Credit Loans in New Brunswick with High Approval Rates, Approved in Minutes

What does a loan cost in New Brunswick in 2026?

Since January 1, 2025, Canada's Criminal Code caps the cost of most consumer loans at 35% APR, and every fee counts toward that limit. Payday loans are the one exception, and in New Brunswick they are capped at $14 for every $100 borrowed. Every lender Loan Boys works with has to stay under those ceilings. Here is what an instalment loan costs at the maximum legal rate, so you know the worst case before you apply:

Payments at 35% APR, calculated monthly. Many offers come in below the cap; these numbers are the most a lawful lender can charge.

A payday loan looks cheaper at first glance: $500 for two weeks costs $70. But $70 for 14 days works out to roughly 365% a year, and if you need a second loan to cover the gap on your next payday, you pay it again. Spreading a small amount over three to six months usually costs less in total and leaves room in your budget for the next bill. Our payday loan cost guide walks through more examples.

Your rights as a borrower in New Brunswick

New Brunswick has one of the strictest borrowing limits in Canada: a payday loan can't exceed 30% of your net pay. Here are the rules worth knowing before you sign anything:

• The most a payday lender can charge is $14 for every $100 you borrow.
• You can borrow up to 30% of your net pay from your most recent pay stub, to a maximum of $1,500.
• The lender must hand you a cancellation form with the loan, so you can cancel within 48 hours.
• It is illegal for a payday lender to give you more than one loan at a time.
• A lender can't ask for collateral, garnish your wages, contact your employer or make you sign a wage assignment.
• No one can offer payday loans to New Brunswickers without an FCNB licence, and online lenders must show their licence number and expiry date near the top of their New Brunswick page.

Source: Financial and Consumer Services Commission (FCNB), Payday loans. If a lender quotes you more than these limits, walk away and report it to the regulator.

What lenders look at when you apply from New Brunswick

Lenders in the Loan Boys network don't decide on your credit score alone. They look at five things you can check yourself before applying:

• Regular income. A job is easiest. Some lenders also count regular government deposits such as New Brunswick social assistance, CPP, EI or the Canada Child Benefit as income; others require employment income. The lender decides.
• Your bank account. An active Canadian account with regular deposits and few or no NSF (non-sufficient funds) charges in the last 90 days.
• Other short-term loans. An open payday loan lowers your odds, because a second lender is competing for the same paycheque.
• Stability. Six months or more at the same address and the same employer helps.
• The amount you ask for. $500 on a $2,400 monthly income is much easier to approve than $1,500 on the same income. Ask for the smallest amount that solves the problem.

How to apply from New Brunswick

1. Have your phone, your income details and your bank information ready.
2. Fill in one short online application. There is no hard credit check, so applying doesn't lower your score.
3. Lenders in the network review the same application. Most decisions arrive within minutes during business hours.
4. Read the offer: amount, APR, number of payments and payment dates. Accept only if the payments fit your budget.
5. Once you accept, the money is usually sent by Interac e-Transfer, often the same day.

Start your application

Loan Boys is a loan-matching service, not a lender. The lender who makes you an offer sets the rate, within the legal limits above. You must be 18 or older, live in the province and have a regular income.

Guides for New Brunswick borrowers

• Bad credit loans in Canada (2026): how they work and what they cost
• How much a payday loan really costs: the $14 cap and the real APR
• Getting a loan with terrible credit: where to start
• Car repair loans with bad credit: costs and options
• Bad credit loans in Canada: how Loan Boys works

Common questions from New Brunswick borrowers

How much can I borrow in New Brunswick?

A payday loan is limited to 30% of the net pay on your latest pay stub, up to $1,500. That rule is stricter than in most provinces, so an instalment loan over several months can be the better option for larger bills.

Can I have two payday loans at once in New Brunswick?

No. It is illegal for a payday lender to give you more than one loan at a time.

Do you serve Moncton, Saint John and Fredericton?

Yes. The application is online and works anywhere in New Brunswick, including Moncton, Saint John, Fredericton, Bathurst and Miramichi.

Sources

• Financial and Consumer Services Commission (FCNB), Payday loans
• FCNB, Are you considering an online payday loan?
• Criminal Interest Rate Regulations (SOR/2024-114)
• Financial Consumer Agency of Canada, Payday loans