If you’re in the market for the best loan apps, you’ll have noticed there are plenty of options out there. From small cash advances, payday loans, personal loans and more, it can be hard to sift through the noise and find the best fit for your needs.
No matter what kind of loan app you’re looking for, we’ve cut your workload down and provided a list of the best loan apps in Canada right now.
These are the best cash loan apps available for easy access to a small amount. Cash advance apps provide customers of all credit types with a small loan to cover emergency expenses before payday. You can get quick access to funds with easy application processes, and the best apps offer zero interest and minimal extra fees.
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for long-term use, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, call Credit Counselling Society for free financial counselling (Mon–Fri, 8am–5pm at 1-888-527-8999). Also consider payday loan alternatives.
Best payday loan apps
If you’re looking for bigger loan amounts than those available through the cash advance apps above, you might find the right fit here. Payday loan apps are short-term loans that accept bad credit, just like cash advance apps. You can typically apply for higher loan funding, but you’ll also get very high interest rates.
How we chose the best cash loan apps in Canada
We’ve chosen the best loan apps on this page based on the providers available through Finder and online in the Canadian loans marketplace. These loan apps are not representative of the entire market.
When choosing our picks for the best loan apps in Canada, we considered each lender’s rates, fees, terms, borrowing amounts, app ratings and availability, application process, funding speed, eligibility requirements, customer support and feedback, licences, accreditations and perks for borrowers. No single loan app will be the best choice for everyone, so compare your options before applying.
What are some other loan apps in Canada?
easyfinancial:easyfinancial is one of Canada’s largest alternative lenders. It offers personal loans, home equity loans, auto loans, point-of-sale financing and small business financing. Download the goeasy Connect app to apply for personal loans, make payments and access financial tools.
MoneyUp:MoneyUp is a mobile credit app that gives you access to a line of credit of $100–$1,500 for an advance fee of up to 2.5%. There’s no interest, no credit check required and funds are typically available instantly.
PAY2DAY:PAY2DAY provides online and in-store payday loans up to $1,500 in ON, BC, NS. Use the mobile app to apply for a payday loan 24/7, and if approved, you’ll receive an e-Transfer within one hour.
Credit Club:Credit Club offers a wide range of loan options, including payday loans in ON, BC and NS. Simply complete the application form on the app and you’ll receive a decision in as little as 30 minutes.
What’s the best app for a small loan?
It depends on your needs, but the cash advance app Nyble allows you to borrow $30–$250 at 0% with no added fees, making it a top app for a small loan. Its app has a 4.8 based on 743 ratings on Google Play and 4.8 based on 2,200 ratings on the Apple App Store.
Cash advance app KOHO is also one of the best. Its iOS app has a 4.8 rating based on over 81,800 reviews, and its Android app has a 4.3 rating based on over 71,200 reviews. KOHO offers instant cash advance funding of up to $250, with no income requirements.
What’s best for instant funding?
If speed is your top priority, Nyble stands out, offering instant access to up to $250 if you pay $11.99 a month for an optional membership. KOHO is also fast, allowing cash advances of up to $250 instantly. Payday lender iCash provides a larger amount, up to $1,500, with e-Transfers arriving within two minutes of approval.
What’s best for easy approval?
For a smooth and straightforward application process, check out KOHO, which only requires you to be the age of majority in your province or territory, a Canadian resident and have a KOHO account. There are no credit checks.
Nyble is also simple to qualify for: you need to be at least the age of majority in your province or territory, have a Canadian bank account and earn a minimum income of $1,000/month.
Bree offers bigger advances of up to $750, but you’ll need to pay a $2.99 monthly membership fee, have a Visa or Mastercard with a CVV and provide proof of consistent income.
iCash is a good choice if you prefer a traditional payday loan and don’t mind higher fees. You just need to earn at least $800 a month, be the age of majority in your province or territory and be a Canadian resident. It accepts many types of income, including EI, child tax, ODSP, AISH, provincial disability, CPP, OAS and social assistance.
How to choose the best loan app for you
Compare fees and interest rates. Look for cash loan apps with competitive or low interest rates and a transparent fee structure.
Consider loan terms. Check for repayment flexibility, and make sure you can afford to pay off your loan in full within the term you’ve been quoted.
Read reviews. You should be able to find customer reviews online for most lenders.
Check eligibility. Depending on the lender you’re interested in, you may need to tick off some requirements by way of income, credit score and residency, among others.
Bottom line
Whether you need a small cash advance, an emergency payday loan or a more typical long-term personal loan, there’s a good range of easy loan apps to choose from in Canada. Use our list of the best loan apps in Canada to find the perfect fit for your situation.
Frequently asked questions
Some of the newest loan apps in Canada include Wagepay, KOHO and MoneyUp. Wagepay and MoneyUp launched in Canada in 2023, and KOHO Cover became available in 2021. Learn more about new payday loans.
You can borrow $20 from cash advance apps like KOHO and Bree.
The KOHO app (via Cover) allows you to borrow money instantly following approval. Other apps like Bree, Nyble and iCash also offer very fast loan funding times.
All the apps presented in this list are legitimate, but you can check business registrations in government databases and online third-party reviews, like those on Finder, for any loan app you find to ensure it's not a scam. Payday lenders should also be licensed, which you can verify through your province's official registry.
Steven Brennan is a freelance finance writer working from Vancouver, B.C. He has a BA and an MA in English Literature at the University of Ireland, Maynooth, and also spent time working in Italy and Vietnam as an English teacher. Today, he writes regularly on a range of personal finance topics including banking, loans, mortgages, insurance and tax. His work has appeared on sites such as LowestRates.ca and WealthRocket, as well as in print with Canadian MoneySaver.
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Rebecca Low is a writer for Finder. She has contributed to a range of digital publications, including income.ca, Indeed, and Expatden, writing on topics like personal finance, career development, and travel.
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Find out where to apply for a $200 payday loan or cash advance when you need funds fast.
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
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