Child tax credit loans in Canada

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Your questions answered

What is the Canada Child Benefit, and does it count as income?

The Canada Child Benefit, also known as CCB, is a tax-free monthly payment that you receive from the federal government that is meant to help with the cost of raising children for eligible families.

The Canada Revenue Agency makes direct deposits into your account each month based on the number of eligible children you have, which is why lenders like Spring Financial consider it a stable source of income. In fact, your CCB payments can be used as one of your income sources for your loan application.

Can I get a personal loan using my CCB?

As long as your CCB payments are consistently deposited into your bank account, they can be used as a source of verifiable monthly income. With Spring Financial, having traditional employment income isn’t required in order to apply. Your full picture is considered, including other sources of income, your existing debt obligations, and your ability to repay the loan.

What if I have bad credit?

Having a low credit score or bad credit won’t prevent you from getting a personal loan. In fact, Spring Financial considers loan applications from a wide range of credit profiles, including those with bad credit. This is because your eligibility is based on a variety of factors, including your income, current debt obligations and the overall affordability of the loans.

How much can I borrow if my main income is the CCB?

You can borrow between $500 and $35,000 with Spring for child tax cash loans. However, the amount that you’re able to borrow is dependent on your verifiable income and your ability to repay the loan. Your offer reflects your specific financial situation and financial stability.

Can I combine my CCB with other income?

You are able to use more than one source of income when getting a personal loan. If you receive CCB payments, you’re able to combine this with other income sources, including:

Employment income
Self-employment income
Provincial child benefits
Other government benefits (GST/HST credits or Canada Groceries and Essentials Benefit payments)

The more verified income that can be presented, the better, since you’re primarily responsible for the loan. This only makes your application stronger. However, even low-income families are eligible for cash advances and cash loans from lenders like Spring Financial, which offer financial assistance regardless of income, including government subsidies.

How quickly can a single parent get approved?

When applying for a personal loan, you can get a decision with Spring in just a few hours after completing your application. If all the required documentation is submitted and verified, you can even receive your funds as soon as the same day. However, most applications are funded within 1-2 business days.

Will taking out a loan affect my CCB payments?

The CCB is calculated based on your adjusted net income from your previous year’s tax return. This means that a personal loan won’t impact your eligibility or your payment amounts. Whether or not you have an outstanding loan won’t factor into the government’s calculations.

What documents do I need to apply?

The basic documentation needed to apply for a loan includes a valid government-issued ID, an active Canadian bank account, and your current contact information. Bank statements can be used as proof of income to show your CCB deposits; however, additional documentation may be requested.

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Complete the Online Application:

It can be completed in just a few minutes directly from your device.

Submit your documents

For a typical application, only a valid ID, bank account verification, and bank statements that show your CCB deposits are required.

Receive your funds:

If you’re approved and have submitted your documentation, your funds can be deposited as soon as the same day. However, this is subject to verification, and most approved applicants will receive their funds within 1-2 business days.

Be the age of majority in your province or territory (either 18 years of age or 19)

Have valid government-issued identification

Have an active Canadian bank account

Have a steady source of income, which can include CCB, employment income, government benefits, or a combination of them.

No co-signer or collateral is required to apply. Payments on the loan can be made at any time with no prepayment penalties.

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Learn more about child tax credit loans in Canada

Using the CCB Benefit as income for a loan

The Canada Child Benefit is a non-taxable payment deposited directly into your bank account and paid out monthly. CCB payments function the same way as a paycheque. Even though it’s not employment income, the payments are consistent and verifiable through your bank statements.

Since CCB payments are deposited into your account, and Spring uses bank account verification to confirm income, no other proof of income is usually needed. In fact, your benefit summaries and CRA letters aren’t needed.

When it comes to the amount you receive from CCB, it’s determined by your adjusted family net income as well as the number of children in your care. For example, based on your 2025 income, families earning under $37,487 can receive the maximum amount. For children under 6, the cost is $8,157 per year ($679.75 per month), and for children aged 6 to 17, the maximum is $6,883 per year ($573.58 per month). The Child Disability Benefit provides a maximum of $3,480 per year for eligible children. These are large amounts and serve as a reliable income source for many parents.

How to get a loan using your Canada Child Benefit

The Child Tax Credit and the Canada Child Benefit are often used interchangeably in Canada. However, the CCB technically replaced several earlier programs, including the Canada Child Tax Benefit (CCTB) and the Universal Child Care Benefit (UCCB), in 2016. No matter what you call it, the benefit is the same. It’s a monthly payment that hits your account on a predictable date, which many lenders consider verifiable income and will count toward your borrowing capacity.

That said, not every lender will accept it. Traditional lenders like banks tend to overlook it unless you can pair it with employment income. That said, payday lenders will accept it as income, but they charge rates that can make the loan difficult to pay back. Spring Financial, on the other hand, is a fully online lender that accepts your CCB as verifiable income and offers competitive rates and terms to all applicants, including those seeking online child tax loans.

One thing to consider about CCB income is that it isn’t taxable income. This is only considered on your income tax return, since lenders pay attention to the gross deposit amount, not the net-of-tax figure.

Bad credit loans for parents in Canada: what you need to know

Statistically, single parents are more likely than others to have a lower credit score. This doesn’t happen because they’re irresponsible borrowers, but because of reduced household income, childcare costs, and occasional periods of unemployment, which can put pressure on both payment history and credit utilization. With a low credit score of 580 or less, your lender isn’t able to see what you’re dealing with right now, only what has happened in the past.

With Spring Financial, anyone with any credit profile can apply for a personal loan. If you are below the good credit score threshold of 660, that doesn’t mean you can’t get a loan. Your income, current debt obligations, and ability to repay your loan also carry significant weight in the loan review.

When you’re a parent managing childcare costs, school expenses, car repairs, or unexpected bills, having access to a personal loan at a reasonable rate can be the difference between handling a setback and having it bury you further. The cost difference can be substantial. For example, a $3,000 loan at 24.99% over 24 months costs about $160/month. The same $3,000 on a credit card at 19.99% can take years to pay off with the minimum payments.

Even though loans for parents with bad credit in Canada exist, it’s still important to consider whether you can afford it and whether the terms make sense. With Spring Financial, all of the costs are disclosed before you sign anything, and there’s no cost to apply.

Child tax advance loans in Canada and how they can bridge the gap

In Canada, many parents are looking for a child tax advance to access a portion of their anticipated CCB payment before the next scheduled payment date. That said, Spring Financial doesn’t advance future CCB payments, but it does offer personal loans available to CCB recipients. With these loans, the repayment period can range from 6 to 84 months.

If you need a child tax advance in Canada before your next CCB deposit, a short-term personal loan is a great choice in order to fill that gap. The main difference between a payday loan, which is also a short-term bridge loan, and other short-term loans lies in their repayment structures. Payday lenders require the funds to be repaid by your next paycheque, while Spring offers flexible repayment schedules to fit your budget.

Flexible options available for personal loans for single parents in Canada

Single-parent households operate on tighter budgets than other households. Having only one income and one set of hands often provides no financial buffer if something breaks or your income is affected. The loan market doesn’t always reflect that reality, since many lenders still default to employment income as the preferred source. This excludes many parents who rely on CCB, provincial benefits, or even part-time work to make ends meet.

Single-mom loans and single-parent personal loans are terms people search for because they’re looking for a lender who will actually consider their situation rather than reject them outright. Spring Financial doesn’t have a separate product for single parents; it’s the same personal loan that applies, but CCB is accepted as income, provincial benefits count, and you aren’t automatically disqualified if you have a bad credit score.

With Spring, you can get loan amounts ranging from $500 to $35,000. For a single parent looking to cover car repairs, a dental bill, or even a gap between jobs, even a personal loan of $1,500 to $3,000 with a manageable monthly payment can be a game-changer. Since all Spring loan payments are reported to both Equifax and TransUnion, you can improve your credit score just by making your payments on time. When you’re considering renting a new place or financing a vehicle, improving your credit score can make a difference.

CCB advance loans in Canada: using provincial benefits to borrow more

The federal CCB isn’t the only benefit that can support a loan application. Most provinces and territories offer their own child benefit programs, and Spring Financial recognizes these as part of your total verifiable income. Here’s a quick look at the approximate amounts.

Province/Territory	Benefit	Max Annual Amount (approx.)
Ontario	Ontario Child Benefit (OCB)	Up to $1,726.92/child/year
British Columbia	BC Family Benefit	Up to $1,750/child/year (under 6)
Alberta	Alberta Child and Family Benefit	Up to $2,221/year (1 child)
Nova Scotia	Nova Scotia Child Benefit	Up to $1,524.96/child/year
New Brunswick	New Brunswick Child Tax Benefit	Up to $250/child/year
Northwest Territories	NWT Child Benefit	Up to $815/year (1 child under 6)
Nunavut	Nunavut Child Benefit	$346.92/child/year + workers’ supplement
Newfoundland & Labrador	NL Child Benefit + MBNS	Up to $486/child/year + $60/month (MBNS)

If you’re borrowing against your child tax benefit income in Canada, the combination of federal CCB and a provincial benefit can meaningfully increase your verifiable monthly income, which can increase your total borrowing capacity.

Same-day loans for parents: Get funded faste

When an urgent expense comes up, speed matters. Since Spring Financial’s application is fully online, once your application is submitted and your documentation is verified, your funds can be deposited as early as the same day. However, this is subject to verification and most approved applications are funded within 1-2 business days.

For parents who are managing an unexpected expense, a short timeline is preferred. While your funds aren’t instant, since no legitimate lender will approve your application without reviewing it first, the timeline is fast enough to handle most real-world situations.

You have questions,  
we have answers.

How does the Canada Child Benefit work, and why does it qualify as income for a loan?

The CCB is a monthly tax-free payment administered by the Canada Revenue Agency. How much you receive is calculated by your adjusted net family income and the number of children in your household. Since it’s a consistent monthly payment deposited into your account, it can be used as verifiable income.

Does Spring Financial accept the Canada Child Benefit as proof of income?

Yes, your bank statement showing your monthly CCB deposits makes these payments verifiable income. Additional documentation isn’t needed unless it’s requested during the review process.

Can a single parent with bad credit get a loan using their CCB income?

Yes, with Spring Financial, applications are considered from individuals with all credit profiles, including those with bad credit. Your eligibility is assessed based on your income, current debt obligations, ability to repay the loan and your credit score. While an approval isn’t guaranteed, a low score doesn’t automatically disqualify you. Those looking for loans for mothers in Canada or family benefit loans in Canada have a chance at approval.

How much can I borrow if my only income is the Canada Child Benefit?

How much you can borrow is based on the size of your CCB deposits, as well as your overall financial picture. That said, with Spring Financial, you can qualify for loan amounts ranging from $500 to $35,000, with your final approval amount reflecting what your income can support.

Will borrowing money affect my Canada Child Benefit payments?

No. Your CCB payments are calculated based on your adjusted net family income from your previous year’s tax return. A personal loan isn’t considered part of your income, so that it won’t affect your benefits.

Can I combine CCB and employment income when applying for a loan?

Yes, when you’re applying, Spring Financial will consider all your verifiable income sources, including CCB payments, employment income, self-employment income, provincial child benefits, and other government benefits.

How quickly can a single parent get approved for a loan?

It’s not uncommon for loan decisions to be made within hours of a completed application. The loan funds can be deposited as soon as the same day; however, this is subject to verification. Most approved applications are funded within 1-2 business days.

Is CCB treated the same as employment income when assessing loan applications?

Yes, for loan purposes with Spring Financial, consistent monthly payments from any source are considered verifiable income, not a secondary or supplementary source.

Can I get a loan using provincial child benefit payments in Ontario, BC, or Alberta?

Yes, just as CCB payments are, provincial benefits, such as the Ontario Child Benefit, BC Family Benefit, and Alberta Child and Family Benefit, are considered verifiable income. They can be used alongside your employment income, or on their own.

What happens to the loan if my CCB payments change or stop?

Your personal loan is done on a fixed term, so your loan repayment obligations won’t change even if your CCB amounts reduce or are terminated. If you have problems making your upcoming payments, the best thing you can do is contact Spring Financial as early as possible. If your payments aren’t up to date, you could end up incurring additional loan charges that are outlined in your loan agreement. This can negatively impact your credit history.

How does Spring Financial verify CCB payments?

Bank account verification is usually the standard method of verifying your CCB deposits, since they should appear consistently in your account history. While additional documentation may be required, the CRA doesn’t need to be contacted separately.

What other government benefits can be used as income alongside CCB?

Alongside your CCB benefits, other benefits that can be used include:

GST/HST credit
Canada Groceries and Essentials Benefit
CPP (Canada Pension Plan)
Disability benefits
ODSP
Ontario Works
Certain forms of Employment income

These can all be counted, depending on your circumstances, since each application is assessed individually. However, the disability tax credit for you, your spouse, or your common-law partner doesn’t count, since it isn’t actually income.

Are there payday loans that accept Child Tax Benefit income?

Yes, payday lenders also generally accept CCB income, but the cost is much higher. In fact, in most provinces in Canada, the rate on payday loans is $14 per $100 borrowed, which, annualized, amounts to an approximate APR of 365%. With Spring, you can get personal installment loans with rates from 9.99% to 34.95%, and loan terms of 6 to 84 months. For most borrowers, this is a much better deal.

What is the Child Disability Benefit, and can it be used as income?

The Child Disability Benefit (CDB) is an additional tax-free monthly payment for families caring for a child with a severe and prolonged physical or mental impairment. It is deposited with your monthly CCB payment and can be included as verifiable income on a loan application.

Do I need to be employed to get a loan using my CCB?

No. While employment income is often required to get a personal loan from traditional lenders, it’s not required with Spring. You only need a steady source of verifiable income in order to apply.

Will a Spring Financial loan help build my credit?

Yes. Spring Financial reports loan payments to both Equifax and TransUnion, and on-time payments can help build your credit history over time. Since payment history is one of the key factors used to calculate your credit score, you should notice a positive impact.

Can a temporary resident or protected person receive the CCB and use it to apply for a loan?

To receive the CCB, at least one caregiver must be a Canadian citizen, a permanent resident, a protected person, or a temporary resident who has lived in Canada for at least 18 months and holds an active permit. If you meet the CCB eligibility criteria and are receiving payments, those deposits can be used as income when applying for a personal loan with Spring Financial.

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