Get a $100 loan

- Borrow for 5 - 40 days
- Borrow from $100 - $1,500
- APR varies by province
If you don’t have a good credit score or you need to take out a $100 loan fast, a payday loan is an option. You can apply for payday loans by visiting a store in person or applying online. Depending on the lender, you can get a $100 payday loan in less than an hour after approval.
Province | Maximum allowable cost of borrowing |
Alberta, British Columbia, New Brunswick, Ontario & PEI | $15 per $100 borrowed |
Manitoba, Saskatchewan & Nova Scotia | $17 per $100 borrowed |
Newfoundland and Labrador | $14 per $100 borrowed |
Northwest Territories, Nunavut & the Yukon | Up to $60 per $100 borrowed |
Quebec | Limit of 35% annual interest rate (AIR) |
Several popular payday loan providers in Canada – like iCASH, Money Mart and Cash Money – offer apps where you can get a $100 payday loan almost instantly. These cash advance apps allow you to fill out an application, get approval for the $100 cash advance in Canada and arrange to have the money deposited in your account all from the convenience of the app on your phone. You can learn more about payday loan apps in our full guide here.
The actual amount you’ll pay for a $100 cash advance in Canada will depend on how much you borrow and the province or territory you live in. By law, most lenders in Canada can charge anywhere from $14 to $17 for every $100 borrowed for a payday loan – however the costs will likely be higher in the territories.
Let’s say you borrow a $100 payday loan in Ontario for the two weeks leading up to your payday. Since Ontarian lenders can charge a maximum $15 per $100 borrowed, you’ll end up paying back $115 from your paycheque. That translates to a whopping 391% APR. For comparison, credit card interest rates tend to range around 20%.
All 10 provinces have legislation at the provincial level, while the 3 territories – Yukon, Northwest Territories and Nunavut – are still patiently waiting, and instead have federal regulations. Learn more about payday loan regulations.
You can generally get a $100 payday loan if you meet the following criteria:
Yes, people looking for $100 loans with bad credit history still have options through payday loans. These loans tend to come with minimal eligibility requirements, like low minimum credit scores or even no credit checks.
Keep in mind that loans with lower eligibility requirements tend to cost more overall. Payday loans especially are some of the most expensive loans you can get in Canada. So make sure you can afford the repayments before signing on the dotted line.
Be extra wary when you encounter a lender promising $100 guaranteed loans for bad credit or 100% approval for payday loans. A legitimate lender would not be guaranteeing approval on a loan especially if you have bad credit.
They would first examine your personal factors to see if you are able to repay your loan, such as your income sources, employment information and credit history. If you have bad credit and are seeking a $100 cash advance in Canada, be sure to choose a lender who takes a responsible approach. Compare legit payday loans.
If you see a lender promising 100% loan approval, you may be looking at a scam. Learn more about payday scams.
There are some important factors that you should take into account before taking out a $100 payday loan.
There are several ways to determine if a payday lender is legit.
Learn more about legitimate payday loans in our full guide here.
There are a few things you should know about $100 payday loans in order to understand if it’s the right financial help you need.
First, you should generally only take out a payday loan in emergency situations because this type of $100 loan is typically a one-time solution. If you have structural financial problems that cause you to have difficulty repaying debts, you should consider credit counselling or another form of financial assistance, as payday loans could spiral your debt further.
Second, you’ll want to make sure you can repay your payday loan in a timely manner. Missing the due date on your repayment will result in additional charges. Avoid digging yourself into a deeper financial hole by taking on debt you can’t afford.
Third, before accepting a $100 cash advance in Canada, be sure to read the lender’s terms and conditions carefully. It’s important to read the fine print so you know exactly what you are paying and when it is due.
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