7 loans like GoDay

GoDay offers online payday and installment loans across Canada, with instant decisions 24/7 and fast access to funds. GoDay is a popular lender, but it’s not your only option if you need a short-term loan.

In this guide, we’ll compare seven loans like GoDay, explore their pros and cons, and find out how they stack up against GoDay’s loan products.

Cost	Loan Amount	Loan Term	Serviced Provinces
1. Wagepay
Wagepay Wage Advance Loan	$14 per $100 borrowed	$100 - $1,500	Up to 62 days	BC and ON	Go to siteView details Compare product selection Compare	loading	Why we like it Wagepay offers fast payday loans 24/7, just like GoDay. You can apply online or via a handy mobile app, and there's no need to complete a credit check during the application process. If you're approved, you'll get fast access to your loan funds via e-Transfer. Pros & cons Pros Quick and easy application process Get your money within minutes Loans funded 24/7 No late fees Cons Payday loans are expensive Short repayment period Relatively new lender Only in BC and Ontario
2. 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 Similar to GoDay, iCash offers 24/7 payday loans in Canada with instant decisions. It provides fast access to funds and accepts an even wider range of income types than GoDay. Like its competitor, iCash has also earned plenty of positive reviews on sites like Trustpilot. Pros & cons Pros Get funded fast by e-Transfer 24/7 24/7 customer support 4.6/5 stars based on 2,700+ Trustpilot reviews Also offers a mobile app Cons Payday loans are expensive Short repayment terms
3. Cashco Financial
Cashco Financial Payday Loans	$14 per $100 borrowed	$50 - $1,500	Up to 62 days	AB, BC and SK	View details Compare product selection Compare	loading	Why we like it Like GoDay, Cashco Financial offers installment loans as well as payday loans, and you can apply and get funded online. Cashco Financial is also an established lender with over 15 years in business, and it operates more than 50 branches across 4 provinces. Pros & cons Pros Bad credit is OK Get funded within 24 hours Large branch network if you prefer in-person service Flex Loan could improve your credit score (but not the payday loan) Cons Not available in all provinces Payday loans are expensive 35% APR on Flex Loan

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Finder Score	Costs	Loan Amount	Loan Term
4. KOHO Cover
Finder score 8.7 Great KOHO Cover	Finder score 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 Unlike GoDay, KOHO doesn't offer payday loans but rather short-term cash advances through its KOHO Cover feature. Promoted as a payday loan alternative, it provides an interest-free cash advance of up to $250. There are no credit checks during the application process, no job or income requirements, and you also get the flexibility to repay your advance at any time, unlike GoDay. Pros & cons Pros No interest charges or NSF fees No income required to qualify Fast access to funds You can increase your Cover limit Cons $250 advance may not be enough for you Monthly KOHO Cover fee Monthly KOHO plan fee
5. Nyble
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.	Go to siteView details Compare product selection Compare	loading	Why we like it Unlike GoDay, Nyble offers a small line of credit with flexible repayments. You can borrow between $30 and $250 without a credit check, and you won't pay any interest on the money you use. And because Nyble reports payments to the credit bureaus, taking out a line of credit could potentially boost your credit score. Pros & cons Pros Could help rebuild your credit score No interest or mandatory fees if you opt for standard delivery No late fees Easy to apply Instant funding available (for a fee) Cons Late payments are also reported Can only borrow up to $250 Slow funding with a free account
6. Bree
Finder score 8.8 Great Bree Early Pay	Finder score 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 is another interest-free cash advance company that offers an alternative to payday loans from GoDay and other lenders. It offers advances of up to $750, and you can apply online or via an app and get approved instantly 24/7. You can also qualify for funding if you have low income or non-employment income, and you can get the money by e-Transfer if you're willing to pay a fee. Pros & cons Pros No credit check No interest or late fees Instant decisions Easy application process Cons $750 may not be enough for your needs $2.99 optional monthly subscription fee applies for features including instant transfers

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Finder Score	APR Range	Loan Amount	Loan Term
7. Loans Canada
Finder score 8.6 Great Loans Canada Personal Loan	Finder score 8.6 Great	9.99% - 35.00%	$500 - $35,000	6 - 60 months	Go to siteView details Compare product selection Compare	loading	Why we like it Loans Canada is not a lender, but rather a loan search platform where you can compare your borrowing options. Like GoDay, you can apply online, even if you have bad credit. Once you fill out an application, you can compare offers from multiple lenders in one place. You can search for personal loans as well as a wide range of other financing options, then choose the lender that is best for your needs. Pros & cons Pros Loans for all types of credit Easy online application Compare multiple lenders Wide range of financing options and amounts Cons It could take one to three business days to get funded High rates for bad credit Not a direct lender

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How does GoDay compare?

GoDay offers online payday loans of up to $1,500 and installment loans of up to $15,000 (through its FlexMoney product) across Canada. Let’s take a look at the pros and cons of GoDay to give you a better idea of how it compares to these seven loans like GoDay.

Pros

• Completely online. GoDay offers a 100% online application process, and you can submit a loan application in a matter of minutes.
• Instant decisions 24/7. GoDay’s automated system can provide instant loan approval 24/7.
• Fast access to funds. You can receive your loan funds within an hour of being approved.
• Poor credit is OK. You can still qualify for a GoDay payday loan if you have bad or limited credit.
• Wide range of income types accepted. GoDay accepts a variety of income sources for loan applicants, including CCB, disability tax credit, OAS, CPP and private pensions.
• Established lender. Operating since 2012, GoDay is a licensed payday lender.

Cons

• Expensive. The maximum a payday lender can charge you in Canada is $14 for every $100 borrowed.
• Short repayment period. Payday loans are typically designed to be repaid when you receive your next paycheque, so it can be very difficult to budget for your loan repayment.
• May perform a credit check. You may need to undergo a credit check as part of GoDay’s automated approval process.
• Loan limit. First-time applicants are limited to a maximum loan amount of $500.
• No mobile app. GoDay doesn’t offer a convenient mobile app.

Find out more about how GoDay stacks up against the competition in our full GoDay review.

How do I choose the right loan?

There are several factors that affect whether a loan from GoDay or one of the alternatives listed here is the right choice for you. The best loan for you will depend on:

• How much you need to borrow
• Your income and how much you can afford to repay each pay cycle
• The type of income you receive and your employment situation
• Your credit score

You’ll need to compare loans and lenders side by side to find the most affordable borrowing option and a repayment plan that suits your pay schedule. Check loan APRs to calculate the cost of borrowing, check when you’ll need to make payment(s), and find out whether you can repay the loan early without penalty.

Remember that payday loans are very expensive and should only be used as a last resort. And no matter which lender or loan type you choose, make sure you understand the total cost of borrowing before you apply.

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 20-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

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