Cash lenders in Canada: Scam or legit?

With so many online lenders in Canada offering fast cash loans, finding the right one can feel overwhelming, especially when not all of them are legitimate. While reputable lenders can help you access money quickly in an emergency, there are also unlicensed operators and outright scams targeting borrowers who are short on time and cash. The key is knowing the difference before you apply.

In this guide, we compare a range of reputable cash loan providers in Canada, break down their costs and features, and share tips to help you spot red flags so you can borrow safely.

How to spot a legit lender

• The lender is registered and licensed in your province or territory. Every legitimate lender must be authorized to operate where you live. You can check with your provincial consumer protection agency or financial regulatory authority to confirm their status.
• No upfront or advance fees are required. In Canada, it’s illegal for a lender to ask for payment before providing a service. This means any upfront fee request is a red flag.
• Fees and charges are transparent. Legitimate lenders disclose their interest, fees, admin charges and all loan terms. So, hidden or vague fees can be a warning sign.
• A physical address and contact information are available. Check the lender’s website for a verifiable address (not just a P.O. box), phone number and email address.
• There are reviews on different platforms. Check whether the lender has reviews on platforms like Trustpilot, BBB or Google Maps. If there are a lot of negative reviews, you may want to go with another lender.

Compare fast cash loans in Canada

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Finder Score	APR Range	Loan Amount	Loan Term	Broker Compliance	Key Features
Promoted Finder score 8.8 Great LoanConnect Installment Loan	Finder score 8.8 Great	8.99% - 35.00%	$500 - $2,500	3 - 6 months	Note: LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.	Key features: Loan search platform, pre-approval in 5 minutes	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 8.6 Great Loans Canada Installment Loan	Finder score 8.6 Great	8.99% - 35.00%	$500 - $50,000	4 - 60 months	Note: Loans Canada is a loan search platform. Apply once to get matched with lenders based on your credit and borrowing requirements.	Key features: Loan search platform, largest lender network	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 8.5 Great Fat Cat Loans Personal Loan	Finder score 8.5 Great	6.99% - 35.99%	$300 - $50,000	3 - 84 months	Note: Fat Cat is a loan search platform. Apply once to get matched with lenders based on your credit and borrowing requirements.	Key features: Loan search platform for all credit	Go to siteMore info Compare product selection Compare	loading
Finder score 7.9 Great Green Loans	Finder score 7.9 Great	22.00% - 35.00% + broker fee	$100 - $1,000	3 - 12 months	Key features: Quick online loans with instant approval.	Go to siteMore info Compare product selection Compare	loading
Finder score 7.8 Great Money Mart Installment Loan	Finder score 7.8 Great	34.56% - 34.95%	$500 - $25,000	6 - 84 months	Key features: Unsecured personal loans for bad credit	ContinueMore info Compare product selection Compare	loading
Finder score 7.9 Great Cash 4 You Installment Loan	Finder score 7.9 Great	34.37%	$500 - $20,000	6 - 84 months	Key features: Fast approval	ContinueMore info Compare product selection Compare	loading
Finder score 7.1 Great 24Cash Installment Loan	Finder score 7.1 Great	22.00% + broker fee	$500 - $850	90 - 120 days	Key features: Quick no credit check loan	ContinueMore info Compare product selection Compare	loading
Finder score 7.1 Great Credito Installment Loan	Finder score 7.1 Great	22% + broker fee	$500 - $850	90 - 120 days	Key features: Same day funding, no credit check	ContinueMore info Compare product selection Compare	loading
Finder score 7.1 Great Thunderloan Personal Loans	Finder score 7.1 Great	23% + fee	Up to $1,000	3 to 6 months	Key features: Fast approvals, no credit check required	ContinueMore info Compare product selection Compare	loading
Finder score 7.1 Great Eastern Loans Installment loan	Finder score 7.1 Great	23% + broker fee	$500 - $750	90 -180 days	ContinueMore info Compare product selection Compare	loading
Finder score 6.7 Standard Lamina Loans	Finder score 6.7 Standard	Not Disclosed	Up to $2,500	90-210 days	Key features: Short term loan, fast approvals	ContinueMore info Compare product selection Compare	loading

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How we picked these

Finder Score for personal loans

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 40+ personal loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

Compare cash advances in Canada

The following providers offer instant cash loans that are easier to get than traditional personal loans. You pay no interest on these loans, but you may pay a monthly fee.

3 of 3 results

Finder Score	Costs	Loan Amount	Loan Term	Rebate	Key Features
Finder score 8.7 Great KOHO Cover	Finder score 8.7 Great	0% + monthly fee from $2	$20 - $250	Flexible	Key features: Instant, no credit check or income required	Go to siteMore info Compare product selection Compare	loading
Finder score 8.8 Great Bree Early Pay	Finder score 8.8 Great	0%	$20 - $500	Next pay cycle	Key features: Instant e-transfers, 24/7, no credit check	Go to siteMore info Compare product selection Compare	loading
Finder score 9.3 Excellent Nyble Credit Line	Finder score 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.	Key features: Instant e-transfers, 24/7, no credit check	Go to siteMore info Compare product selection Compare	loading

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Showing 3 of 3 results

Finder Score for cash advance apps

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 5+ cash advance apps are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

Compare payday loans in Canada

Payday loans are cash loans of up to $1,500. They’re extremely expensive with APRs typically over 300%, so only consider them as a last resort.

Are other loan companies legitimate?

There are lots of online cash loan providers in Canada, and while many of them are 100% above board, there are others we’re not prepared to declare legit. To help you decide where to apply, we run the rule over a host of cash loan providers below.

• Is Quality Cash Loans legit?

  Quality Cash Loans is licensed as a payday lender in BC (licence no. 79545) and displays its lending licence prominently on its website. However, its website also mentions payday loans in other provinces like Alberta, Manitoba and Ontario, but we couldn’t find Quality Cash Loans in the databases of licensed payday lenders for any of those provinces.

• Is Cash Canada legit?

  Yes. Cash Canada runs an established network of 16 pawn shops across Western Canada and has been in business for over 30 years. It’s a member of the Canadian Pawn Association and has a high-cost credit licence in Alberta.

• Is Cash 4 You legit?

  Yes. Cash 4 You was established in 2001 and is a fully licensed lender recognized by the Canadian Consumer Finance Association. Learn more in our Cash 4 You review.

• Is Cash Loans Canada Inc. legit?

  It might be. It has been operating since 2005, and its website lists phone and email contact details, a physical address and important documents like a privacy policy and terms and conditions. However, it advertises “guaranteed loans,” which can be a red flag.

• Is Cash Now 2 Go legit?

  The Cash Now 2 Go website features hallmarks of a legitimate lending company, including phone and email contact details, a physical address and a privacy policy. The provider has also picked up a handful of Google reviews.

• Is CashGo legit?

  CashGo might be a legitimate lender. It has a Google profile and lists a physical address, while its website features detailed loan information. However, no phone number is listed on the CashGo website, just an email address.

• Is Cash Money legit?

  Yes, Cash Money is a legit lender. Founded in 1992, it has dozens of store locations across Canada. It’s also provincially licensed, a member of the Canadian Consumer Finance Association (CCFA) and has an A+ rating from the Better Business Bureau (BBB). Learn more in our Cash Money review.

• Are MDG cash loans legit?

  Yes, MDG is an established retailer that has been in business since 1991 and received more than 2,900 Trustpilot reviews. Find out more in our MDG Financial review.

• Is King Cash legit?

  Yes, King Cash is a legit lender. Its website provides detailed information about loan APRs and borrowing costs, while it also lists phone and email contact details, terms and conditions and a privacy policy. King Cash has also earned an average rating of 4.7/5 based on over 1,200 Trustpilot reviews.

• Is Focus Cash Loans legit?

  Yes. Established in 2008, Focus Cash Loans is licensed as a payday lender in Alberta, BC and Ontario. Learn more in our Focus Cash Loans review.

• Is Apple Cash Loans legit?

  We can’t confirm the legitimacy of Apple Cash Loans for a few reasons. It’s unclear if Apple Cash Loans is licensed, we couldn’t find it listed on Canada’s Business Registries and its website is underdeveloped. Find out more in our Apple Cash Loans review.

• Is Captain Cash legit?

  Yes, Captain Cash is a legitimate lender and a registered business in BC. It has verified Trustpilot and Google reviews, while its website features all the information you’d expect from a reputable provider. Find out more in our Captain Cash review.

• Is Speedy Cash legit?

  Yes, Speedy Cash has been in business for over 20 years and operates store locations in four provinces. It’s also a licensed payday lender, so read about what it has to offer in our Speedy Cash review.

• Is Cash Stop Loans Inc. legit?

  Yes. Cash Stop Loans is licensed as a payday lender in British Columbia (licence no. 49756). It also has an A+ BBB rating and over 5,200 Trustpilot reviews.

• Is Turbo Cash legit?

  Yes, Turbo Cash appears to be legit. While its website doesn’t list any phone contact details, it does feature Turbo Cash loans cost information, terms and conditions and a privacy policy. Turbo Cash has also earned an average score of 4.8/5 based on over 1,200 Trustpilot reviews.

• Is Cash Cowboy legit?

  Yes. Cash Cowboy is licensed as a payday lender in BC, Ontario and Alberta. Check out our Cash Cowboy review to find out more.

• Is Cash Dynamic legit?

  The Cash Dynamic website has all the hallmarks of a legitimate broker. These include detailed loan and APR information, phone contact details and a privacy policy.

• Is Rapid Loans legit?

  There’s limited information about Rapid Loans online. However, its website lists a physical address, phone and email contact details, a maximum loan APR, terms and conditions and a privacy policy.

• Is RapidLoan legit?

  We can’t confirm the legitimacy of RapidLoan. Its website doesn’t list phone contact details or a physical address, but it does list the lender’s APR range and eligibility requirements.

• Is Zip Cash legit?

  Zip Cash appears to be a legitimate lender. Its website features the hallmarks of a reputable provider, including detailed information about the loan APR and cost, terms and conditions and phone and email contact information.

Information above is up to date as at August 21, 2025.

I need cash urgently. Where can I apply?

If you need cash ASAP, the fastest options are payday lenders and cash advance lenders. They can give instant approval and e-Transfer funding. Learn more in our emergency loans guide.

How do cash loans work?

A cash loan is a short-term loan that offers fast access to money in a financial emergency. These loans are usually small in size, typically allow you to get your loan amount within 24 hours and may be sent directly to your bank account or be made available to collect as cash.

Repayment schedules are usually set according to your pay dates, and cash loans can be used for almost any purpose. Many cash loans are also available without a credit check, making them an option worth considering for borrowers with bad credit.

There are a few different types of fast cash loans available:

• Payday loans. Payday loans are short-term loans of up to $1,500. The maximum loan term is 62 days, and you can collect cash in store or have it sent to your bank account in minutes via e-Transfer. But high fees apply, so payday loans should only ever be seen as last-resort solutions in financial emergencies.
• Installment loans. Installment loans are personal loans provided by online lenders. These cash lenders have more lenient eligibility criteria than banks and credit unions, but this usually comes at the cost of higher rates. Loans of up to $10,000 are available and some lenders offer same-day funding, while terms range anywhere from 3 to 60 months.
• Pay advances. Cash advance apps offer short-term cash loans of around $20–$500 to help you cover essential expenses, and your repayment is typically automatically deducted from your bank account on your next payday. There’s no interest charged on the money you borrow, but a monthly subscription fee may apply.

How to compare cash loans in Canada

The best cash loan for you will depend on your borrowing needs and your current financial situation. Remember to consider the following factors when comparing your options:

• Legitimacy. Check if a lender is licensed to operate in your province and if they abide by all regulations. Payday lending regulations vary between provinces, so check the rules that apply where you live. Avoid any lenders that show the telltale signs of a payday loan scam or personal loan scam.
• Loan APR. Check the annual percentage rate, which combines the interest rate and loan fees, to find the true cost of a loan. Use it to compare the cost of loans from a variety of lenders.
• Other fees. Find out how much you’ll be charged if you make a late payment or get slugged with an NSF fee. Also, check if there are any broker or surety fees included in the loan payments.
• Loan amount. Check whether the lender’s minimum and maximum loan amounts suit your needs. For example, payday loans can be up to $1,500, but regulations in some provinces limit the amount to a certain percentage of your income.
• Loan term. How long will you have to repay what you borrow? If you take out an installment loan, choosing a shorter loan term will result in higher monthly payments that may be difficult to budget for. A longer term means a more manageable monthly payment, but you’ll also pay more interest in the long run.
• Eligibility criteria. What will you need to do to qualify for a loan? Will you need to complete a credit check? Are there minimum income and employment requirements?
• Turnaround time. Check how long it will take to access the loan amount. If you need cash in a hurry, some cash lenders offer approval and funding within minutes. Others may take one to three business days.

How to apply for cash loans

If you want to apply for an instant cash loan in Canada, here’s what you need to do:

1. Compare lenders and loans. Research lenders to find legitimate providers offering loans that suit your needs. Compare loan APRs, additional fees, terms, repayment schedules and how fast you can get access to cash. Don’t forget to make sure that you meet the minimum requirements outlined by the lender.
2. Gather your documents. Make sure you have all the required information before applying. You’ll need to prove your identity, income, address and bank account details when applying online.
3. Submit your application. Apply online if you want to get your loan via e-Transfer or direct deposit, or apply in store if you want to collect your loan as cash.
4. Review your loan offer. If you’re approved, make sure you review the details of any loan offer carefully before you accept it.
5. Get funded. Some cash lenders provide access to your funds within minutes, while same-day funding is available from a variety of lenders.

Benefits of cash loans

Why apply for a fast cash loan? There are plenty of reasons why this type of loan is worth considering:

Quick turnaround

Cash loans are known for providing fast access to funds and require less documentation than loans from traditional lenders. If you need an instant cash loan, some lenders allow you to access the money you need within minutes. Learn more about instant loans.

Easy to apply

It’s quick and easy to apply for a cash loan online, while some lenders also have store locations if you want to apply in person.

Lenient eligibility criteria

Online lenders have less strict eligibility requirements than banks and credit unions, so it’s possible to qualify for a loan if you have bad credit or no credit history. Learn more about online loans.

Available 24/7

Some lenders use automated loan approval systems, which means you can apply for a loan and get fast cash when you need it.

Help in a financial emergency

When you’re in urgent need of funds to help cover an unexpected expense, a cash loan can help you get through to your next paycheque.

What to watch out for with cash loans

There are a few drawbacks you need to be aware of before applying for a cash loan:

Higher costs

The interest rates and fees are higher for cash loans than for loans from traditional lenders.

Short repayment terms

Cash loans are used for short-term financial needs, so you won’t have long to pay back what you borrow. This can make it difficult to budget for high repayment amounts, which can force some borrowers to take out a second loan and potentially get trapped in a cycle of debt.

Disreputable lenders

Unlicensed predatory lenders target unsuspecting borrowers in times of financial distress. That’s why it’s important to research cash lenders to make sure they’re legitimate and licensed to provide loans in your province or territory.

Borrowing unnecessarily

Due to faster processing and lenient eligibility requirements, these loans might give a feeling of “easy money.” This can lead to spending money on things you don’t need, like new gadgets or expensive vacations. Instant cash loans should only be seen as short-term solutions for financial emergencies.

Borrowing more than you can afford

Carefully consider whether you’ll be able to afford loan repayments on top of your regular expenses before you apply. If you’re experiencing financial difficulties, consider credit counselling for advice on the best way to manage debt and get your finances back on track.

Bottom line

Cash lenders in Canada can provide fast access to funds in a financial emergency, but not all are trustworthy. Before applying for any cash loan, verify whether the lender is licensed, read reviews from past customers and watch out for warning signs like upfront fees.

And, don’t forget that cash loans often come with high interest rates and/or fees, so they’re not a long-term solution if you’re struggling financially. Ultimately, if you decide that a fast cash loan is right for you, be sure to compare a range of options before you apply.

Frequently asked questions

• Are online cash loans safe?

  Yes — provided you only ever deal with a legitimate lender. Before you apply, research the lender thoroughly to find out if they're properly registered and licensed to offer loans in your province. You can also read customer reviews and check if the lender is BBB accredited to make sure they're a reputable provider.

• Can I get a bad credit cash loan?

  Yes. Many online and in-store lenders offer bad credit cash loans. Rather than focusing on your credit score, they look at your income, employment and ability to pay back the loan before approving your application. However, be aware that higher interest rates and fees apply. Learn more about bad credit loans in Canada.

• If I can't repay my cash loan, what options do I have?

  If you can't meet your loan repayment by the due date, contact the lender as soon as possible. The lender should attempt to work with you to sort out the issue. Remember that these forms of finance are generally used for emergency situations, so always compare your options before applying online.

• Can I get an e-Transfer cash loan in Canada?

  Yes. Many online lenders pay out loan amounts via Interac e-Transfer, allowing you to access cash within minutes. Check out our guides on e-Transfer installment loans and e-Transfer payday loans in Canada for more information.

• Are no-refusal cash loans available?

  No. Be wary of any lender that promises guaranteed approval, as this could be a sign of a loan scam. A legitimate lender will always assess your income and financial situation before deciding whether to accept or refuse your loan application. Learn more about no-refusal loans.

To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

Tim's expertise

Tim has written 503 Finder guides across topics including:

• Banking
• Personal Loans
• Car Loans
• Stock Trading
• Cryptocurrency

Co-written by

Rebecca Low

Writer

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. See full bio