7 Apps & Loans Like MoneyLion

MoneyLion is a banking and cash advance app in the US that offers interest-free cash advances up to $500 per pay period with no monthly fee. If customers open a RoarMoney banking account, they can potentially increase their advance amount to $1,000 per pay period. But because MoneyLion does not serve Canada, we’ve rounded up a list of alternative interest-free pay advance, payday loan and installment loan lenders you can apply for in Canada.

Is MoneyLion in Canada?

No, MoneyLion is not available in Canada. To apply for a MoneyLion financial product, you need to be a US citizen or permanent resident and have a Social Security number.

Loans like MoneyLion in Canada

Here are similar loans to MoneyLion in Canada.

Finder Score	Costs	Loan Amount	Loan Term
If you want a small instant loan: KOHO
8.7 Great KOHO Cover	8.7 Great	0% + monthly fee from $2	$20 - $250	Flexible	$75 REWARD Go to siteView details Compare product selection Compare	loading	Why we like it Like MoneyLion, KOHO offers small loans to help you pay for emergency expenses. It doesn't require you to go through a credit check or even have an income. You can borrow up to $250 at no interest, though a monthly fee applies starting at $2. You can also repay the loan any time. Pros & cons Pros No late fees 0% interest No impact on credit score Free financial coaching service Cons KOHO savings account required
If you want a small loan that rebuilds credit: Nyble
9.3 Excellent Nyble Credit Line	9.3 Excellent	0%	$30 - $250	31 days, extendable	Use code CFIND1J to get 500 extra points and a $5 higher approval. T&Cs apply.	Go to siteView details Compare product selection Compare	loading	Why we like it Nyble provides a small line of credit of up to $250 and doesn't charge interest. No fees apply if you opt for standard delivery, which takes one to three business days. If you need instant funding, an $11.99 per month fee applies. Best of all, Nyble reports payments to the credit bureau to help boost your credit score. Pros & cons Pros No credit check required No application fee No late payment fee More affordable than payday loans Cons $11.99 for fast transfers, full credit report and other premium perks Small loan amounts only
If you need up to $750: Bree
8.8 Great Bree Early Pay	8.8 Great	0%	$20 - $750	Next pay cycle	Refer a friend and get a $20 credit limit increase on your next withdrawal. T&Cs apply.	Go to siteView details Compare product selection Compare	loading	Why we like it Bree lets you borrow up to $750 to help you cover expenses until your next payday. Like MoneyLion, Bree won't charge any interest or fees on standard funding, but there is a transfer fee if you need the money instantly. The fee is $2.99 – $45.99, and the higher the amount, the higher the fee. Pros & cons Pros Easy application process No credit checks 0% interest and no late fees Cons Loan amount may not be enough for your needs Will not improve your credit Higher amounts have expensive fees.

loading

Finder Score	APR Range	Loan Amount	Loan Term
If you need a fast personal loan: Spring Financial
8.5 Great Spring Financial Personal Loan	8.5 Great	9.99% - 35%	$500 - $35,000	6 - 84 months	Go to siteView details Compare product selection Compare	loading	Why we like it Spring Financial offers a convenient application process. Apply online and get a decision within minutes. Human support is readily available, and you can receive your funds via e-Transfer as soon as the same day. However, if you don't qualify for its personal loan, you may be offered a credit builder loan instead. With this loan, you won't receive the loan funds until after making all your payments. Pros & cons Pros Established lender Easy online process Loans for all credit are available Cons High rates for bad credit Credit builder loan is also expensive
If you need a personal loan: LoanConnect
8.8 Great LoanConnect Personal Loan	8.8 Great	8.99% - 35.00%	$500 - $60,000	3 - 120 months	Go to siteView details Compare product selection Compare	loading	Why we like it MoneyLion is not a direct lender of personal loans but instead connects you with suitable lenders. A similar option in Canada is LoanConnect. Simply fill out one application to get matched with lenders who are open to financing you. You can apply and receive funding online. Pros & cons Pros All credit scores are welcome Convenient process Low starting rate Cons High rates for bad credit You're limited to its network of 30+ lenders

loading

Payday loans are another option. They’re easier to qualify for than personal loans, but the cost can be quite high. Be prepared for high interest rates and short repayment terms. Maximum loan amounts are $1,500. If you need more money or a longer repayment period, consider getting a personal loan instead.

Cost	Loan Amount	Loan Term	Serviced Provinces
If you need 24/7 instant loans: iCash
iCash Payday Loan	$14 per $100 borrowed	$100 - $1,500	7 - 62 days	AB, BC, MB, NB, NS, ON, PEI	Go to siteView details Compare product selection Compare	loading	Why we like it iCash provides quick funding and accepts non-employment income, such as government benefits. You can get e-Transfer funding in as little as two minutes after approval. iCash provides payday loans so you can borrow more than MoneyLion, but at higher rates. Pros & cons Pros {{ETAILS.TRUSTPILOT_REVIEWS}} Get money in less than an hour Get funded 24/7 Bad credit is accepted Cons Payday loans are expensive Short repayment terms Only available in AB, BC, MB, NB, NS, ON, PEI
If you want to apply in store: Money Mart
Money Mart Payday Loan	$14 per $100 borrowed	$100 - $1,500	1 - 62 days	AB, BC, NS, ON, SK and MB	View details Compare product selection Compare	loading	Why we like it Through its payday loans, Money Mart offers higher loan amounts than MoneyLion but at very high interest rates. Money Mart has hundreds of store locations across Canada, so you can walk in, apply and walk out with your funds. If you prefer to apply online, Money Mart provides that option through its website or app. Pros & cons Pros Instant decision Fast access to funds Established lender Cons Extremely high rates

loading

How does MoneyLion compare?

MoneyLion is a free cash app packing a range of features, including a banking account, investment account, crypto trading feature and credit builder program. Unlike other apps, there’s no monthly fee for cash advances, but standard advances to an external bank account take two to five business days.

But if applicants need same-day money, its instant transfer charges are steep, costing up to $8.99 per $100 transferred. But if immediate access to cash isn’t necessary, and with the option to increase advance amounts up to $1,000 by opening a RoarMoney account, MoneyLion may be more economical than payday loans for US residents.

How to decide which MoneyLion alternative is right for you

Because MoneyLion isn’t available in Canada, it’s important to decide which alternative is the right fit for your needs.

You’ll first need to decide what type of loan to apply for, given how much you need. If you only need a small amount to get you through to the next payday, consider a 0% interest pay advance from Nyble or Bree.

If you need to borrow a larger amount and your credit score isn’t in great shape, consider a bad credit installment loan from lenders like LoansLoans.ca.

It’s usually best to avoid payday loans when possible because they’re one of the most expensive borrowing options on the market and can easily trap borrowers in a cycle of debt. As a last resort, consider payday loan providers like GoDay and iCash, which offer online applications and fast loan turnarounds of up to $1,500 but with very high APRs.

Written by

Leanne Escobal

Senior Publisher

Leanne Escobal is a senior publisher at Finder with more than 13 years of experience in financial products and services, with a focus on content strategy and marketing. She has completed the Canadian Securities Course (CSC®) as well as the Personal Lending and Mortgages course through the Canadian Securities Institute. Leanne holds a Bachelor of Arts (Honours) in English literature and creative writing from Western University. See full bio

Leanne's expertise

Leanne has written 202 Finder guides across topics including:

• Personal Loans
• Car Loans
• Business Loans
• Short-Term Loans
• International Money Transfers
• Make Money Online

Co-written by

Chelsey Hurst

Publisher

Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature. See full bio

Chelsey's expertise

Chelsey has written 127 Finder guides across topics including:

• Banking
• Stock Trading
• Cryptocurrency