A–Z list of payday loan organizations

A–Z list of payday loan providers

The list above includes all the lenders we’ve reviewed. Please note that we have not signed off on the legitimacy of all these lenders.

Explore legit payday loan companies in Canada

Cost	Loan Amount	Loan Term	Serviced Provinces
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 is an online payday lender that offers 24/7 access to cash. The loan application process is fully automated, and if approved, the money is sent to your account by e-Transfer within two minutes. You can apply for a loan via the iCash website or mobile app. Pros & cons Pros Easy online application Automated approval process Fast access to cash Apply 24/7 Cons Very expensive Short loan terms
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 was founded in 2020 in Australia, but opened its Canadian arm in British Columbia in 2023. It now operates in Ontario as well, giving applicants access to a quick and easy payday advance with no late fees or credit checks, and Interac e-Transfers available 24/7. Pros & cons Pros Interac deposits available 24/7 No credit check Fast access to funds Fully online application Cons Only available in BC and Ontario You can only receive 25% of your salary up to $1,500
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 Cashco Financial, founded in 2009 and headquartered in Edmonton, Alberta, provides in-branch and online financial services to Canadians in British Columbia, Alberta, Saskatchewan, Ontario and New Brunswick. You can apply for a payday loan online or in person and enjoy instant approval, no credit check and no early repayment penalties. Pros & cons Pros Available online and in physical branches Quick approval and fast funding, often same-day Available to borrowers with poor or no credit history Cons Not available in all provinces $20 fee for dishonoured cheque or pre-authorized debit
Cash Money Payday Loan	$14 per $100 borrowed	$100 - $1,500	5 - 40 days	BC, MB, NL, NS, ON, SK	View details Compare product selection Compare	loading	Why we like it Established in 1992, Cash Money offers in-store and online payday loans of between $100 and $1,500. You can access the money you borrow in as little as 15 minutes if you choose an Interac e-Transfer, while direct deposit and in-store cash pick-up are also available. Pros & cons Pros Established lender Support available seven days a week Fast access to cash Multiple ways to access your funds Cons High fees Not available in all provinces
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 Money Mart makes it easy to apply for payday loans online 24/7. Known as a cash advance, a Money Mart payday loan allows you to borrow amounts ranging from $100 to $1,500, with instant decisions provided. The money you borrow will then be deposited into your bank account in as little as 24 hours. Pros & cons Pros Easy to apply online Can also apply in-store Bad credit accepted Established lender Cons Some other lenders offer faster access to cash High cost of borrowing
Loan Express Payday Loan	$14 per $100 borrowed	$100 - $1,500	Up to 62 days	ON, NB, NS, MB, SK, AB, BC, NL	View details Compare product selection Compare	loading	Why we like it Loan Express provides online payday loans and the ability to apply at any time. There's no credit check required, and you can access the money within minutes via Interac e-Transfer. Loan Express also accepts government benefits and the child tax credit as forms of income. Pros & cons Pros Apply online 24/7 Fast access to cash Established in 2006 Cons Expensive Not available in Quebec or Prince Edward Island
PAY2DAY Payday Loan	$14 per $100 borrowed	$300 - $1,500	Up to 62 days	ON, BC, NS	View details Compare product selection Compare	loading	Why we like it Pay2Day offers fast payday loans in Ontario, British Columbia and Nova Scotia. You can apply online or at a Pay2Day store, and once you've been approved, the funds will be in your account in as little as one hour. Pros & cons Pros Apply online or at over 30 locations No credit checks Fast access to funds 24/7 customer service Cons Not available in many provinces Expensive

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What are payday loans?

A payday loan is a short-term loan of up to $1,500. It’s designed to provide you with fast access to cash in a financial emergency, with many lenders offering easy online applications and approval within minutes. Borrowers with bad credit are also accepted, so a payday loan can help you get the funds you need to get through to your next paycheque.

But payday loans have extremely high interest rates and only give you a short time to pay back what you borrow. That’s why it’s worth considering a range of other borrowing options before you apply for a payday loan.

Why should I read a payday loan review?

A good review covers the benefits and drawbacks of the lender without too much bias. If the review is too positive or negative, watch out. It could be someone paid to leave a good review or someone with bad budgeting skills leaving a bad one. The more moderate a review is, the more trustworthy it is.

There are several payday lenders across the country. Many are trustworthy and follow provincial laws and regulations. Canadian provinces are known for their strict consumer protection laws that don’t allow predatory behaviour by payday loan lenders. By reading reviews, you give yourself the chance to learn about a company before applying, saving yourself time and, potentially, money.

If you think there might be a chance the lending company you’re looking at is a scam, check with your local consumer protection agency. The provinces require a licence to operate a payday loan business. If they’re legitimate, they’ll have one.

Benefits of payday loans

There are a few reasons why a payday loan might be the right choice for you:

• Fast access to cash. If you urgently need money to cover essential expenses, a payday loan allows you to access the cash you need in minutes. It’s also quick and easy to apply online with many payday loan organizations.
• You can apply with bad credit. Rather than focusing on your credit score, payday lenders will assess your ability to pay back a loan when assessing your application. So even if you have bad credit, provided you have a steady source of income you can still get approved.
• Non-employment income accepted. Many lenders will accept non-employment income, such as government benefits, when assessing your ability to repay a loan.

What to watch out for

Make sure you’re aware of the following risks before applying for a payday loan:

• High APRs. It’s common for a payday loan to have an APR over 300%, so these loans are extremely expensive to repay.
• Fees. You’ll also need to read the fine print to find out what other fees apply to your loan, such as late payment and NSF fees.
• Short loan terms. While payday loan regulations vary by province, the maximum payday loan term is 62 days. This means you have a very short amount of time to pay back what you borrow, and if you can’t afford to repay, it’s easy to get caught in a cycle of debt.
• Disreputable lenders. The payday loan sector is notorious for attracting disreputable lenders. Do your research to make sure you’re dealing with legitimate lenders – they need to be licensed and abide by all the payday loan regulations in your province or territory.

Consider these alternatives before applying for a payday loan

Payday loans are an extremely expensive way to borrow money. Before you apply for a payday loan, make sure you’ve considered these payday loan alternatives:

• Cash advance app. Cash advance apps give you early access to a small portion of your next paycheque. You don’t need to complete a credit check and some services don’t charge interest. To pay back what you borrow, the pay advance service automatically deducts the money from your bank account when you get your next paycheque.
• Installment loan. An installment loan is basically a personal loan but with more lenient eligibility requirements. Lenders will assess your income and ability to repay the loan rather than focusing on your credit score, but you’ll need to accept higher interest rates.
• Credit card cash advance. A credit card cash advance is a quick and convenient way to access cash when you need it. However, high interest rates apply and you’ll also need to pay a cash advance fee.
• Car title loan. If you own a car, a car title loan allows you to secure a loan with the title of your vehicle. This allows you to access better rates and higher loan amounts, but you risk having your car repossessed if you fall behind on repayments.
• Side hustle. If you have the time, taking on a side hustle may be better than getting a loan since you’d be boosting your income rather than increasing your debt.

Organizations that help with payday loan debt

If you need help getting your payday loan debt under control, there are plenty of credit counselling agencies around the country that can offer assistance. A credit counsellor can sit down with you to assess your financial situation and put together a plan to help you get out of debt.

To help you find an agency near you, check out this list of certified credit counselling agencies by province:

British Columbia

Alberta

Saskatchewan

Manitoba

Ontario

Quebec

New Brunswick

Prince Edward Island

Nova Scotia

Newfoundland and Labrador

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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Tim has written 542 Finder guides across topics including:

• Banking
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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