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7 payday loans in Edmonton, Alberta

Find out where to get payday loans in Edmonton. Apply online and get an instant decision.

Payday loans can be a useful way to cover your expenses in an emergency, but since they’re extremely expensive, they are only suitable as a last resort.

If you’ve already considered all your alternatives, compare payday loans in Edmonton below to figure out which licensed lender might be the best fit for your personal situation.

⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. If you're experiencing financial hardship call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.

Compare 7 payday loans in Edmonton

1. iCash

iCash provides flexible payday loans in Edmonton. It is a member of the Canadian Consumer Finance Association (CCFA) and has provided loans to more than 500,000 customers across Canada since 2014.

  • Loan amount: $100 – $1,500
  • Loan term: 7 - 62 days
  • APR: Varies by province
  • Eligibility requirements: $800 min. monthly income
  • Incomes it accepts (besides employment): Many types, including employment insurance, child tax, ODSP, AISH, provincial disability, CPP, OAS and social assistance
  • Where to apply: Online
  • Licence number in Alberta: 341941
  • What customers say about iCash: Many customers agree that the service is fast, reliable and easy to use. Some customers are frustrated by the lack of customer service, especially when trying to reach a real person over the phone or by email.

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GoDay

2. GoDay

GoDay is another online payday lender that provides fast payday loans in Edmonton. It is a member of the CCFA and accredited by the Better Business Bureau (BBB) with an A rating.

  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • APR: Varies by province
  • Eligibility requirements: min. monthly income
  • Incomes it accepts (besides employment): Many types, including CCB, disability tax credit, OAS, CPP and private pensions
  • Where to apply: Online
  • Licence number in Alberta: 347297
  • What customers say about GoDay: GoDay has been praised for its quick service. Some customers are frustrated by the lack of customer service and being approved for lower amounts than expected.

Focus Cash Loans

4. Focus Cash Loans

Focus Cash Loans has been operating since 2008. It has only one in-person location in Vancouver, so you can only access payday loans in Edmonton by applying online.

  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • APR: Varies by province
  • Eligibility requirements: Must be an Alberta, BC or Ontario resident, at least 19 years old, with an active bank account and a net income of $1,200 per month.
  • Incomes it accepts (besides employment): CPP, private pension, EI, WCB, child tax credit, non-government disability benefits (government disability income not accepted)
  • Where to apply: Online
  • Licence number in Alberta: 327008
  • What customers say about Focus Cash Loans: Customers indicate that Focus Cash Loans provides fast and efficient service. Some complain that the company doesn’t live up to its claims of approving funds within 30 minutes during business hours.

Mr. Payday

5. Mr. Payday

Mr. Payday has been in business since 2002. It has only one in-person location (which is in Vancouver), so you can only access payday loans in Edmonton by applying online.

  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • APR: Varies by province
  • Eligibility requirements: $1,100 min. monthly income
  • Incomes it accepts (besides employment): CPP, EI, WCB, non-government disability benefits
  • Where to apply: Online
  • Licence number in Alberta: 326997
  • What customers say about Mr. Payday: Many customers indicate that agents are knowledgeable and helpful. Others complain that the process is slow and loans are denied for unknown reasons.

Blue Copper Capital

6. Blue Copper Capital

Blue Copper Capital opened its doors in 2006. It offers payday loans in Edmonton, along with other forms of financing, including personal loans, business loans and lines of credit.

  • Loan amount: – $1,500
  • Loan term: 42-62 days
  • APR: Varies by province
  • Eligibility requirements: Employed at least three months
  • Incomes it accepts (besides employment): Private disability
  • Where to apply: Online or in-store
  • Licence number in Alberta: 330628
  • What customers say about Blue Copper: Customers like the friendly and compassionate service as well as the easy application process.
  • There are no negative reviews online.

Speedy Cash

7. Speedy Cash

Speedy Cash was founded in 1998 and operates over 20 branch locations across Canada. There are no branch locations in Edmonton, so the company only offers online payday loans in Edmonton at this time.

  • Loan amount: $250 – $1,500
  • Loan term: Up to 62 days
  • APR: Varies by province
  • Eligibility requirements: Steady source of income
  • Incomes it accepts (besides employment): EI, CPP, private pension, child tax credit
  • Where to apply: Online
  • Licence number in Alberta: 326989
  • What customers say about Speedy Cash: Customers are happy with the speed of payment and the level of customer service on offer. They complain about the level of information required to qualify.

Loan Express

7. Loan Express

Loan Express has been offering online payday loans in Edmonton since 2005. It accepts applications 24/7, so you can apply whenever you need funds.

  • Loan amount: $100 – $1,500
  • Loan term: Up to 62 days
  • APR: Varies by province
  • Eligibility requirements: Steady source of income
  • Incomes it accepts (besides employment): Many types, including Many types, including pension, disability, child tax credit, most other government benefits paid regularly
  • Where to apply: Online
  • Licence number in Alberta: 327001
  • What customers say about Loan Express: Customers indicate that the service is fast, professional and easy to use. Some complain that the company is less flexible about offering solutions if you can’t make your payments on time.


Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province Max. cost of borrowing a $100 payday loan Cooling off period to cancel loan Max. penalty for returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours excluding Sundays and holidays $20
New Brunswick $15 48 hours excluding Sundays and holidays $20
Newfoundland and Labrador $14 2 business days $20
Nova Scotia $15 Next business day (2 days for online loans) $40 (default penalty)
Ontario $15 2 business days $25
Prince Edward Island $15 2 business days N/A
Quebec Limit of 35% AIR N/A N/A
Saskatchewan $17 Next business day $25

Payday loan regulations in Edmonton

Protect yourself as a borrower by knowing your rights when taking out payday loans in Edmonton. Below is a summary of payday loan regulations in Alberta. Visit the government website for more details.

  • Maximum loan amount: $1,500
  • Minimum loan term: 42 days
  • Maximum loan term: 62 days
  • Maximum fee: $15 for every $100 borrowed
  • Cancellation policy: Two days to cancel without facing a penalty
  • Loan repayments. Repay early with no penalty or in two to three installments.
  • Rollovers. Rollovers aren’t allowed. Your existing payday loan must be paid off before you can take out a new one.

Plans for using payday loans in 2023

According to the results of the Finder: Consumer Sentiment Survey Q2 2023, the majority of Albertan residents (86%) do not plan to use a payday loan. However, 14% plan to use a payday loan in the second quarter of 2023, while 18% used one payday loan, 18% used two payday loans and 8% used three payday loans within the last few months of 2023.



What happens if I default on my loan?

If you think you might default on your loan, you should contact your lender as soon as possible to avoid the following penalties:

  • Insufficient fund fees. Lenders may charge up to $25 if you miss a payment (plus any NSF fees your bank charges).
  • Interest. Your lender can add 2.5% in interest per month if you miss payments.
  • Collection calls. A lender can persistently contact you to reclaim funds or turn your account over to a collection agency, which can damage your credit score.
  • Legal action. Lenders can try processing your pre-authorized debit once and sue you for the amount owed plus interest and any related court fees.

Find out more about payday loans in Alberta

Why are payday loans risky?

Payday loans are risky and should only be used when absolutely necessary and only if you’re absolutely certain that you can pay the loan off on time.

  • Very expensive. These loans come with extremely high interest rates, and you may need to pay additional fees for late payments or insufficient funds for payment.
  • Small amounts. You’ll only qualify for up to $1,500 with payday loans in Edmonton, which might only cover a small portion of your expenses.
  • Short term. You have 42 - 62 days days to repay your loan.
  • Easy to get stuck. Due to high rates and short terms, many borrowers struggle to have enough money left once they repay their loan. This means they may need to take out a second payday loan to pay for their expenses, leading to a cycle of debt that’s difficult to get out of.
  • Can damage credit score. If you default on your loan, your credit score will go down.

Frequently asked questions

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