Online lender Eastern Loans offers fast, short-term loans of $500 to $750. But if you don’t qualify for funding from Eastern Loans, or you just want to see if there are better rates elsewhere, you might be looking for Eastern Loans alternatives.
Compare these nine loans like Eastern Loans to access the funds you need.
Green Loans is a broker that provides access to short-term installment loans. You can apply online and get a decision within an hour, and the money will be sent to your account via direct deposit. You can also pay off your loan early without any extra fees.
Get funded within 24 hours
Bad credit is OK
Pay off your loan early without penalty
High rates
Broker fee
Maximum loan amount of $1,000 may not be enough
Loan Amount
$100 – $1,000
APR Range
22% – 35%
Loan Term
3 - 12 months
Serviced Provinces/Territories
all provinces except Manitoba
Turnaround Time
within 24 hours
Min. Credit Score
300
Fees
2.66% late fee
Requirements
• Share banking access via our secure IBV system (Instant Banking Verification) • Have a Canadian bank account open for 90+ days with online access • Be a Canadian citizen or permanent resident with a job • Be 18 or older (or provincial age of majority) • Earn at least $1,200 monthly in net income • Provide a valid phone number, email, and home address • You must not be in a bankruptcy or a consumer proposal. • You must not be planning to declare bankruptcy or a consumer proposal.
Consumer financing provider MDG Financial provides fast cash loans of up to $1,600. It's quick and easy to apply online, and this installment loan can be repaid over a term of up to 3 years. Because your on-time payments are reported to the credit bureaus, this loan can help improve your credit score.
Loans Canada is an online loan search platform where you can compare loans from dozens of lenders. Simply fill out a single application to get multiple loan offers, then connect with the lender that's right for you. Best of all, Loans Canada is free to use.
Largest lending network in Canada
Easy to compare options
Loans for good and bad credit available
Multiple loan types available
Not a direct lender
High rates for borrowers with bad credit
Credit check may be required depending on the lender
Loan Amount
$500 – $50,000
APR Range
8.99% – 35%
Loan Term
4 - 60 months
Serviced Provinces/Territories
All of Canada
Turnaround Time
Receive funds in as little as 24 hours.
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Requirements
Canadian resident, age of majority in your province of residence
Credito provides short-term loans of up to $850 with no credit check. You can get approved and funded within 24 hours, and the application process is completely online with no paperwork required. For added flexibility, you can choose a weekly, bi-weekly or monthly payment schedule.
No credit checks
Get funded within 24 hours
Easy to apply online
High brokerage fees
High APR
Maximum loan amount of $850 won't suit everyone
Loan Amount
$500 – $850
APR Range
Starting at 22%
Loan Term
90 - 120 days
Serviced Provinces/Territories
ON, PE, BC, AB, NB, NS, NL, NU, NT, YU
Turnaround Time
within 24 hours
Min. Credit Score
300
Fees
$225 brokerage fee (amount set at broker's discretion)
Requirements
Be at least 18 years old, Canadian citizen, have a Canadian bank account (3+ months old), have a steady job (3+ months), $1,200 monthly income
Cash advance apps like Eastern Loans
If you want a cash advance that can help improve your credit score: Nyble
Nyble provides access to a small line of credit with no credit checks. There are no interest charges or late fees to worry about. Plus, the fact that Nyble reports payments to the credit bureau means that paying off your loan on-time could help improve your credit score. But if you want instant funding, you'll need to pay a fee.
No interest
No late fees
Improves your credit score
Instant funding available
Available everywhere
Monthly fee for instant funding
Maximum loan amount of $250 may not be enough
Costs
0%
Loan Amount
$30 – $250
Loan Term
31 days, extendable
Credit Check
No
Turnaround Time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Requirements
You must be 18 years or older and have a minimum monthly income of $1,000.
KOHO Cover provides an instant cash advance of up to $250 to help you cover unexpected expenses. You can access your funds through the KOHO app or from an ATM, and there are no interest charges to worry about. However, you'll need to pay a monthly fee.
No credit checks
No income required
No interest
Fast access to funds
Monthly KOHO Cover fee
Monthly KOHO plan fee may also apply
$250 may not be enough
Doesn't improve your credit score
Costs
0% + monthly fee from $2
Loan Amount
$20 – $250
Loan Term
Flexible
Credit Check
No
Turnaround Time
Immediately
Requirements
KOHO account—access higher loan amounts over time by using KOHO for everyday spending, repaying your monthly fees and using its other services
Bree offers the largest interest-free cash advances out of the three providers featured here, with loans of up to $500 available. You can get funded without completing a credit check, and instant approvals are available 24/7. However, you'll need to pay a monthly subscription fee plus an extra fee if you want instant access to your loan.
No interest
No late fees
Easy application process with no credit checks
Available across Canada
$2.99 optional monthly membership fee for express funding
Maximum loan amount of $500 may not be enough
Costs
0%
Loan Amount
$20 – $500
Loan Term
Next pay cycle (90 days max)
Credit Check
No
Turnaround Time
Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and within 1 to 3 business days for standard delivery.
Requirements
You must have a bank account with regular income deposits and a Visa or Mastercard debit card with a CVV
Serviced Provinces
All provinces and territories
Apple App Store Rating
4.8
Google Play Rating
4.9
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for long-term borrowing, with up to $14 charged per $100 borrowed. If you're experiencing financial hardship, consider calling 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.
iCash offers 24/7 payday loan approval and funding. You can apply online through the iCash website or app, and the company's automated approval system means you'll get an instant decision. If you're approved, funds are distributed within minutes via e-Transfer. Just remember that payday loans are extremely expensive.
Instant decisions
Get funded 24/7
Easy to apply
4.6/5 stars based on over 2,400 Trustpilot reviews
Expensive
Short repayment terms
Loan Amount
$100 – $1,500
Loan Term
7 - 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
Yes
Requirements
- At least 18 years old (for applicants in Alberta, Manitoba, Ontario and PEI) - At least 19 years old (for applicants in British Columbia, New Brunswick and Nova Scotia) - Canadian resident in a province that iCASH services - Valid cell phone number, address and email address - Net income of at least $800/month deposited into bank account - Receiving the same source of income for the past 3 months - Have a Canadian bank account that's been open for at least 3 months with online banking
Online lender GoDay provides easy access to payday loans you can get within an hour. Apply online and get an instant decision. Funds are distributed via e-Transfer. Just make sure you're aware of the full cost of taking out a payday loan.
Get funded within minutes
Wide range of income types accepted
Easy online application process
4.4/5 stars based on over 2,900 Trustpilot reviews
High cost of borrowing
Short repayment terms
Loan Amount
$100 – $1,500
Loan Term
Up to 62 days
Cost
$14 per $100 borrowed
Serviced Provinces
AB, BC, MB, NB, NS, ON, PEI, SK
Speed
As little as 2 minutes with Interac e-Transfer
Credit Check
Yes
Requirements
- Canadian resident over the age of 18 - Valid email address and phone number - Have an open bank account with a Canadian bank or credit union
What do I need to apply for a loan like Eastern Loans?
Exact eligibility requirements vary between lenders, but you’ll generally need to meet the following criteria:
Age. You’ll need to be the age of majority in your province or territory, and the lender will require proof of ID.
Residency. You must be a Canadian citizen or permanent resident and provide proof of your address.
Income. You’ll need to receive sufficient income to afford loan repayments. Some lenders accept employment income only, while others also accept government benefits. You may need to provide bank statements or your account details as proof of income.
Bank account. You must have a valid Canadian bank account to receive your loan.
What do I need to watch out for?
There are a few risks you need to be wary of when considering payday loans and other Eastern Loans alternatives:
High cost of borrowing. High interest rates and brokerage fees can significantly increase the total cost of a loan. Make sure you’re aware of exactly how much the loan will cost to repay before signing a contract.
Short repayment period. Payday loans and other short-term loans have to be repaid over a short period of time. This can make it extremely difficult to budget for your repayments and could lead to you getting trapped in a cycle of debt.
Sketchy lenders. Do your research to make sure you’re dealing with a reputable lender. Check that payday lenders are licensed in your province or territory, read customer reviews on independent review sites and make sure you recognize the signs of personal loan scams.
Bottom line
If you’re searching for loans like Eastern Loans, there are plenty of options to consider. Make sure to compare a range of lenders and find out the total cost of borrowing before choosing the best loan for you.
Frequently asked questions
To qualify for funding from Eastern Loans, you need to receive a monthly income of at least $1,200 via direct deposit and have been employed for a minimum of 3 months.
No, Eastern Loans does not accept self-employment income. You'll need to consider other providers that offer self-employed loans.
No, you don't need a credit check to qualify for a loan.
No. Eastern Loans installment loans are available up to $750 and are repaid over a minimum of 3 months. If you're searching for a payday loan, check out our payday loans guide.
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
502
Finder guides across topics including:
Here’s how to get a $500 loan to see you through until your next payday.
Advertiser disclosure
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
