1. Request an amount
Choose between $250 and $1,250 based on the expense and what your budget can support.
♠ Scheduled repayments
Quick installment loans in Canada.
Request $250 to $1,250 with scheduled payments through an online application that takes about five minutes. If approved, e-transfer funding may arrive within minutes; timing varies.
What is an installment loan?
An installment loan is repaid through a schedule of regular payments. Each payment follows the dates and frequency in the loan agreement until the balance is repaid. This differs from borrowing that is due in one lump sum.
Ace of Loans offers small personal-loan amounts from $250 to $1,250. Depending on the offer, payments may follow a weekly, bi-weekly or monthly schedule. The agreement provided before acceptance is the source of truth for the exact amount, dates, interest, applicable fees and total repayment.
Can Ontario residents apply for an installment loan online?
Yes. Ontario residents in Toronto, Ottawa, Mississauga or elsewhere in the province can use the same Ace of Loans online application to request $250 to $1,250 with scheduled payments. There is no separate city application. Approval and the amount offered depend on the eligibility review and are not guaranteed.
The application takes about five minutes. If approved, funds are sent by e-transfer and may arrive within minutes, while some transfers take hours or days. Before accepting an offer, compare its APR, fees, payment dates and total repayment with your budget. See Ontario's consumer information on credit and loans, or explore small loans for Ontario residents if the amount is your main consideration.
♦ From request to repayment
How a short-term installment loan works
The application is quick and online, but the same careful review of affordability and contract terms still matters.
2. Verify eligibility
Provide the requested identification and complete mandatory instant bank verification during the digital review.
3. Review the offer
Check the principal, APR, fees, payment dates and total repayment. Approval is not guaranteed.
4. Make each payment
If you accept, follow the schedule and contact support early if you expect a payment problem.
♥ Know the difference
Installment loan, payday loan or line of credit?
Installment loan: a fixed amount with a defined schedule of payments. The balance decreases as scheduled payments are made.
Payday loan: generally a short loan tied to the borrower's next pay cycle and regulated under separate provincial rules. Ace of Loans does not describe its product as a payday loan.
Line of credit: revolving credit that can generally be borrowed again as it is repaid, up to an approved limit. An installment loan is a set advance rather than an ongoing credit limit.
The label alone does not show whether borrowing is affordable. Compare the APR, fees, payment amount, number of payments and total repayment for the specific offer.
What should you review before accepting?
Start with the required payment, not only the requested amount. Place every scheduled payment beside rent, groceries, utilities, transportation and existing debt obligations for the same period.
- Principal: the amount advanced to you.
- APR and fees: the annualized borrowing cost and any applicable charges disclosed in the agreement.
- Payment frequency: whether payments are weekly, bi-weekly or monthly.
- Amortization schedule: the dates and breakdown of payments over the loan.
- Total repayment: the total amount paid when the schedule is completed as agreed.
The maximum APR applicable to Ace of Loans products can reach up to 29%. Read the individual agreement before accepting; it controls if an example or estimate differs from the offered terms. You can also review the illustrative payment calculator, our guide to understanding APR, and the Financial Consumer Agency of Canada's guidance on comparing personal loans.
♣ Digital application
Online eligibility review without a bureau inquiry
1
No Equifax or TransUnion inquiry
Ace does not request a traditional hard or soft inquiry from those credit bureaus. This does not mean approval is automatic.
2
Instant bank verification is required
Ace requires instant bank verification during the digital eligibility review. Verification does not guarantee approval.
3
Documents may not need uploading
Digital verification can replace manually faxing or uploading statements. Learn how paperless loan applications work and what to prepare for eligibility review.
♦ Installment-loan questions
Frequently asked questions
What is an installment loan?+
An installment loan is repaid through a schedule of regular payments rather than one single payment. The agreement shows the payment amount, frequency, dates and total repayment before acceptance.
How much can I request from Ace of Loans?+
Ace of Loans accepts requests from $250 to $1,250. Approval and any particular amount are not guaranteed and depend on the completed eligibility review.
Does an Ace installment-loan application require a credit check?+
Ace of Loans does not request a traditional hard or soft inquiry from Equifax or TransUnion. Every application still requires an eligibility review using the information requested during the digital process.
How quickly can an installment loan be funded?+
The online application takes about five minutes. If approved, funds are sent by e-transfer and may arrive within minutes. Some funding takes hours or days depending on application review and transfer processing.
What does an installment loan cost?+
The maximum APR applicable to Ace of Loans products can reach up to 29%. The individual agreement discloses the principal, applicable interest and fees, payment schedule and total amount repayable before acceptance.