{"id":741446,"date":"2018-07-11T19:30:44","date_gmt":"2018-07-11T23:30:44","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=741446"},"modified":"2025-06-18T09:33:38","modified_gmt":"2025-06-18T13:33:38","slug":"payday-loan-alternatives","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/payday-loans\/payday-loan-alternatives","title":{"rendered":"18 payday loan alternatives"},"content":{"rendered":"<p>There\u2019s one particularly good reason to stay away from payday loans: they\u2019re painfully expensive. It\u2019s not uncommon to see an annual percentage rate (APR) over 300% \u2013 and that\u2019s following provincial regulations.<\/p><p>Before taking out a payday loan, look into alternatives.<\/p><h3>1. Apply for financial assistance<\/h3><p>Check whether your local non-profits can help with expenses such as rent and utility bills. You can also check your provincial and municipal websites for government assistance available to you. As an example, the <a href=\"https:\/\/www.toronto.ca\/community-people\/employment-social-support\/housing-support\/financial-support-for-renters\/toronto-rent-bank\/\" target=\"_blank\" rel=\"noopener\">Toronto Rent Bank<\/a> provides grants to eligible Toronto residents who are behind on their rent.<\/p><p>Whichever province you\u2019re in, you can <a href=\"https:\/\/211.ca\/\" target=\"_blank\" rel=\"noopener\">visit 211.ca<\/a> to get connected to the support you need.<\/p><p>If you\u2019re a student, reach out to your school\u2019s financial aid office and check whether you\u2019re eligible for any student loans or aid.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>No debt increase.<\/strong> You won\u2019t be taking on more debt, which will help your finances.<\/li><li><strong>Free. <\/strong>Assistance from non-profits is usually free or low cost.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Strict requirements.<\/strong> Your personal situation may not be eligible for financial assistance.<\/li><li><strong>Takes effort.<\/strong> Finding a non-profit that can help takes time and effort.<\/li><\/ul><\/div><\/div><h3 id=\"makecash\">2. Sign up with a pay advance app<\/h3><p><a href=\"https:\/\/www.finder.com\/ca\/cash-advance-apps\">Pay advance apps in Canada<\/a> such as <a href=\"https:\/\/www.finder.com\/ca\/cash-advance-apps\/nyble-review\">Nyble<\/a> and <a href=\"https:\/\/www.finder.com\/ca\/cash-advance-apps\/bree-review\">Bree<\/a> let you get a small loan, usually up to several hundred dollars. You pay no interest on these loans, but you may pay a monthly fee.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Low cost.<\/strong> Borrow a small amount for a low fee with no interest charges.<\/li><li><strong>May improve credit score. <\/strong>Nyble reports payments to the credit bureau to help you improve your credit score.<\/li><li><strong>Fast.<\/strong> It\u2019s possible to get funding on the same day.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Low amounts.<\/strong> You can borrow less than $750, which is lower than a payday loan\u2019s maximum.<\/li><\/ul><\/div><\/div><h3 id=\"installment\">3. Consider an installment loan<\/h3><p>An installment loan is a type of personal loan offered by online lenders. You can typically get an installment loan quickly and with lower APRs and longer repayment terms than a payday loan. Instead of making one lump sum payment, you will make repayments in installments over a period of time. Lenders may look at your credit score when you apply, but they will more likely be interested in your ability to repay your loan.<\/p><p>An installment loan is a decent payday loan alternative because it\u2019s often offered to the same type of customer as payday loans.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Loan terms between 3 and 60 months.<\/strong> You can choose a loan term that complements how much you can afford in monthly payments.<\/li><li><strong>Bad credit is considered.<\/strong> There are some lenders that can finance you even with bad credit.<\/li><li><strong>Loan amounts over $1,500.<\/strong> A payday loan maxes out at $1,500. An installment loan is typically between $500 and $10,000.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>High interest rates.<\/strong> APRs typically range from 18% to 35%. Borrowers with poor credit scores will face higher interest rates.<\/li><\/ul><\/div><\/div><p><a class=\"more-link-arrow\" href=\"https:\/\/www.finder.com\/ca\/personal-loans\/best-installment-loans\" rel=\"noopener noreferrer\">Best installment loans in Canada<\/a><\/p><h3>4. Get a line of credit<\/h3><p>Try a bank or credit union first, but if you can\u2019t get approved by one, you may be able to get one from an online lender. With a line of credit, you can borrow up to a limit and pay interest on the amount you borrow. It\u2019s a decent payday loan alternative because of its open term, thus allowing flexible repayments.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Open term.<\/strong> Pay off your loan partially or in full any time. Since you\u2019re not required to pay back the loan within a very short period of time, your finances have more time to recover.<\/li><li><strong>Potentially cheaper than a payday loan.<\/strong> Mogo, for example, says its <a href=\"https:\/\/www.finder.com\/ca\/personal-loans\/mogo-mini-line-of-credit-review\">MogoMini line of credit<\/a> is 88% cheaper than a payday loan.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Expensive. <\/strong>Interest rates from online lenders can be as high as 35%.<\/li><li><strong>Potentially pay more interest.<\/strong> With an open term, it can be tempting to hold off on repaying your loan and letting the interest accumulate. But if you take too much time to pay off the balance, you could end up paying more interest than a payday loan.<\/li><li><strong>Risk of borrowing more. <\/strong>You only need to apply once to borrow up to your limit whenever you want. With easy access to funds, it can be tempting to borrow more than you need.<\/li><\/ul><\/div><\/div><p><a class=\"more-link-arrow\" href=\"https:\/\/www.finder.com\/ca\/personal-loans\/line-of-credit\" rel=\"noopener noreferrer\">Personal lines of credit<\/a><\/p><h3>5. Use your credit card<\/h3><p>A credit card has a much lower interest rate than a payday loan. If you\u2019ve already maxed out your credit card, try to see whether you can increase your credit card limit before you get a payday loan. Your credit card provider may be able to approve the increase if you have a solid history of on-time payments.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Cheaper than a payday loan.<\/strong> Credit card APRs are around 20%.<\/li><li><strong>Rewards.<\/strong> You can earn rewards when you use your credit card.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>May not qualify. <\/strong>Your credit card provider may not approve you for an increase if you don\u2019t have a good credit file.<\/li><\/ul><\/div><\/div><h3 id=\"consolidate\">6. Consolidate your debt<\/h3><p>If high-interest debt is holding you back from meeting your other financial obligations, you might benefit from consolidating that debt. This means borrowing a larger sum of money to pay off multiple debts, then focusing on paying off that one loan. Consolidating your debt reduces the confusion of having multiple payments and may even offer a lower monthly payment while you eliminate your debt.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Easier to manage.<\/strong> If you combine your debts into one loan, then you only need to make one payment each month.<\/li><li><strong>Potentially lower interest rate.<\/strong> Depending on your finances, you may get a lower interest rate than what you currently have.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>May not qualify for a lower rate.<\/strong> If your finances are in bad shape, you may not qualify for a lower interest rate, so debt consolidation could end up costing you more.<\/li><\/ul><\/div><\/div><a class=\"more-link-arrow\" href=\"https:\/\/www.finder.com\/ca\/personal-loans\/debt-consolidation-loans\/best-debt-consolidation-loans\" rel=\"noopener noreferrer\">Best consolidation loans in Canada<\/a><h3 id=\"ccadvance\">7. Look into a credit card cash advance<\/h3><p>A credit card cash advance is cash borrowed from the credit limit of your card. Cash advances aren\u2019t always the best option because of their high APRs, but if you\u2019re in urgent need of funds, the fees and terms may be better than those of a payday loan. It\u2019s often better to take the high interest rate of a cash advance that you can pay off over a longer term.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Speed and convenience.<\/strong> You can get a credit card cash advance by withdrawing from an ATM.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Interest accrues immediately.<\/strong> There is no grace period with a credit card cash advance. The moment you withdraw the cash, interest will be charged on the amount.<\/li><li><strong>Expensive.<\/strong> Even though they have lower APRs than payday loan, they are still an expensive option.<\/li><li><strong>Additional fees.<\/strong> You may be charged fees in addition to the interest.<\/li><\/ul><\/div><\/div><h3 id=\"negotiate\">8. Negotiate with your creditors<\/h3><p>At the end of the day, your creditors want to get paid, and they may be willing to work with you to ensure that they do. Contact them and tell them you\u2019re having trouble keeping up with your debt. They may help you create a repayment plan or extend your due date to ease your financial burden. You\u2019d be surprised how many lenders are willing to help you work through your tough financial situation.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>No additional debt. <\/strong>You\u2019re not taking on more debt that could make your financial situation worse.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Creditors may not be willing to negotiate. <\/strong>Unfortunately, this option is only feasible if you have creditors who are willing to work with you.<\/li><\/ul><\/div><\/div><h3 id=\"creditcounseling\"><b>9. Seek credit counselling<\/b><\/h3><p>A credit counsellor can help you create a budget and a debt repayment plan. The main benefit to credit counselling is solving the structural issues that led to your financial problems in the first place, whether it\u2019s your lack of budgeting, your low income or your overspending.<\/p><p>Call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). It may be hard to see the light at the end of the tunnel right now, but we recommend investing a bit of time to organize your finances through counselling. The effort you spend now on this payday loan alterative will pay off over the long run.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Free or low cost.<\/strong> You can receive valuable advice on how to improve your finances at little to no cost. If there is a cost, Credit Counselling Canada will let you know first.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>No funds provided.<\/strong> Credit Counselling Canada does not loan money.<\/li><\/ul><\/div><\/div><h3>10. Get a personal loan with a cosigner<\/h3><p>A cosigner is a friend or family friend whose finances are in good shape. By cosigning the loan application with you, they act as a guarantor. If you default on your loan repayments, they are on the hook to cover those payments on your behalf. This is a legitimate payday loan alternative if you can responsibly manage your repayments.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Higher chance of approval.<\/strong> Having a guarantor means lower risk for the lender, so they are more likely to approve you.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Cosigner responsibilities.<\/strong> Your cosigner needs to meet the lender\u2019s criteria to qualify. Also, if you default on your payments, your cosigner\u2019s finances will also suffer, which can damage your relationship.<\/li><\/ul><\/div><\/div><p><a class=\"more-link-arrow\" href=\"https:\/\/www.finder.com\/ca\/personal-loans\/personal-loans-with-cosigners\" rel=\"noopener noreferrer\">Personal loans with a cosigner<\/a><\/p><h3>11. Consider a debt relief service<\/h3><p>It\u2019s not for everyone, and sometimes debt relief companies can do more harm than good. However, if you\u2019re truly facing financial hardship and even considering bankruptcy, then a debt relief company is a legitimate payday loan alternative. A debt relief company can help you come up with a solution to reduce and manage your debt.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Get out of debt.<\/strong> A debt relief company can help you get out of debt through services like credit counselling, debt management programs and debt consolidation.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>It\u2019s risky.<\/strong> If a debt relief company advises you to stop paying your creditors, your finances could suffer more.<\/li><\/ul><\/div><\/div><p><a class=\"more-link-arrow\" href=\"https:\/\/www.finder.com\/ca\/personal-loans\/debt-consolidation-loans\/debt-relief-companies\" rel=\"noopener noreferrer\">Debt relief companies in Canada<\/a><\/p><h3>12. Get a secured loan<\/h3><p>A secured loan is a loan backed by collateral. There are many types of collateral you can use, such as your home, car or jewelry. A secured loan is a legitimate payday loan alternative, especially if you\u2019re looking for lower rates, but if you default on your loan, the lender can take your asset.<\/p><ul class=\"list-1\"><li>Learn more about <a href=\"https:\/\/www.finder.com\/ca\/personal-loans\/car-title-loans\">car title loans<\/a> (your car as collateral).<\/li><li>Learn more about <a href=\"https:\/\/www.finder.com\/ca\/personal-loans\/pawn-loan-for-fast-cash\">pawn shop loans<\/a> (your jewelry and other valuable items as collateral).<\/li><\/ul><h3 id=\"friends\">13. Ask friends or family for help<\/h3><p>It can hurt your pride, but it\u2019s worth asking your friends or family to help cover your short-term financial needs. They may be more than happy to lend a hand. This payday loan alternative often has the advantage of zero or low interest, but you should focus on repaying your friends or relatives promptly.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Flexibility.<\/strong> Since you\u2019re negotiating with a loved one, you can ask for a favourable interest rate and a loan term that works best for your financial situation.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Can hurt relationships.<\/strong> Finances are a sensitive subject, and if you don\u2019t follow the terms of your loan, you could damage your relationship with your friends or family.<\/li><\/ul><\/div><\/div><h3>14. Get overdraft protection<\/h3><p>An overdraft protection is a service offered by your bank that allows you to withdraw more than what you have in your bank account.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Transaction will go through.<\/strong> Instead of facing non-sufficient funds (NSF) fees, your cheques will clear.<\/li><li><strong>Available for emergencies.<\/strong> You get quick access to cash when you\u2019re in urgent need of funds.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Fees.<\/strong> This service comes with fees, either monthly or per overdraft.<\/li><li><strong>Risk of overspending.<\/strong> This is a convenient service, but you run the risk of using overdrafts too much.<\/li><li><strong>Strict requirements.<\/strong> You\u2019ll need good credit to qualify.<\/li><\/ul><\/div><\/div><h3>15. Get a loan from a credit union<\/h3><p>You may be able to take out a small loan with a credit union. Credit unions are known for offering loans at great rates. Furthermore, they\u2019re often more willing to look at additional approval factors besides finances when extending loans, such as how long you\u2019ve held your account with them. If you can qualify, this is a better payday loan alternative than other loans with high interest rates.<\/p><p>Examples of credit unions that offer small loans as a payday loan alternative include Vancity and Servus.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>Competitive rates.<\/strong> Credit unions can offer some of the lowest interest rates for personal loans.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Membership required.<\/strong> You may be required to have a membership to access their products.<\/li><li><strong>Stricter eligibility criteria.<\/strong> You will need to meet stricter requirements than the other loans mentioned above.<\/li><\/ul><\/div><\/div><h3>16. Ask your employer for an advance<\/h3><p>It can be an uncomfortable conversation, but you can politely ask your boss for an advance. Choose a time when your boss is calm and relaxed and when your company\u2019s revenue is at a high point. Ask for a one-on-one meeting. Offer to repay by your next payday, but if this isn\u2019t possible, come prepared with a clear repayment schedule. Also, offer to work more hours or pick up extra shifts in exchange for the advance.<\/p><h3>17. Sell items<\/h3><p>Search your place for any items you could sell on Facebook Marketplace, Kijiji or Craigslist. To protect yourself, accept <strong>cash only<\/strong> and arrange to meet up with the buyer at a police station. Some police stations have a \u201cBuy and Sell Safe Exchange Zone\u201d specifically for this, but if there\u2019s no mention of on their website, you can still call and ask if there\u2019s an area you can use.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>No additional debt.<\/strong> Rather than taking on more debt, you\u2019re increasing the money you earn.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Risk for scams.<\/strong> Scammers may try to get in touch with you.<\/li><li><strong>Takes time.<\/strong> You\u2019ll need to spend time posting a listing and meeting up with the buyer.<\/li><\/ul><\/div><\/div><h3>18. Pick up a side hustle<\/h3><p>If possible, try to pick up a side hustle rather than take on more debt. There are various ways to <a href=\"https:\/\/www.finder.com\/ca\/make-money-online\/make-money-from-home-for-free\">make money from home without financial investment<\/a>, including filling out surveys, providing virtual assistance and freelancing.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><h4>Pros<\/h4><ul class=\"list-1\"><li><strong>No additional debt.<\/strong> Rather than taking on more debt, you\u2019re increasing your income.<\/li><\/ul><\/div><div class=\"u-grid__col u-1\/2@s\"><h4>Cons<\/h4><ul class=\"list-12\"><li><strong>Time consuming.<\/strong> Unlike applying for a loan, you\u2019ll need to invest a lot more time and effort into your side hustle.<\/li><\/ul><\/div><\/div><article class=\"luna-card--border\">\n<div class=\"luna-card__block\">\n<div class=\"u-grid\">\n<div class=\"u-grid__col u-1\/4@s u-1\/1\" style=\"padding-bottom: 0px; place-self: center;\">\n<img decoding=\"async\" class=\"alignnone size-full wp-image-1039989\" title=\"Image: Supplied\" src=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2025\/03\/FreeCash_Supplied_1800x1000.jpg\" alt=\"Freecash Logo\" width=\"1800\" height=\"625\" srcset=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2025\/03\/FreeCash_Supplied_1800x1000.jpg?fit=180 180w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2025\/03\/FreeCash_Supplied_1800x1000.jpg?fit=360 360w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2025\/03\/FreeCash_Supplied_1800x1000.jpg?fit=600 600w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2025\/03\/FreeCash_Supplied_1800x1000.jpg?fit=900 900w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2025\/03\/FreeCash_Supplied_1800x1000.jpg?fit=1200 1200w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/5\/2025\/03\/FreeCash_Supplied_1800x1000.jpg?fit=5400 5400w\" sizes=\"(max-width: 5400px) 100vw, 5400px\" loading=\"lazy\">\n<\/div>\n<div class=\"u-grid__col u-1\/2@s u-1\/1\">\n<p style=\"font-size:130%;\">Earn income completing surveys &amp; playing games<\/p>\n<ul class=\"list-1\">\n<li>Get a <b>$5 sign-up bonus<\/b> when you start your first offer<\/li>\n<li><span style=\"color:#DB2420\"><b>Exclusive:<\/b><\/span> Get an extra <b>$40 digital Visa card<\/b> from Finder<span class=\"table-popover\" rel=\"popover\" data-content=\"Exclusive offer: Become a Finder member and receive a $40 digital Visa card when you open an account with Freecash through Finder and withdraw a minimum of $20 from Freecash. 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Terms and conditions apply.\" title=\"\" data-original-title=\"More info\"><\/span><\/li>\n<li>Make an average of $300 per offer<\/li>\n<\/ul>\n<\/div>\n<div class=\"u-grid__col u-1\/4@s u-1\/1\" style=\"padding-bottom: 0px; place-self: center;\">\n<div class=\"rewards--element-container rewards--container\" data-product-id=\"cfcb506f-1ba2-43b8-bd21-fb6db8d489c6\" data-niche=\"CAFSD-MMO\" data-product-name=\"Freecash\" data-provider-name=\"Freecash\" data-rewards-campaign-name=\"freecash|mmo|may-2026~cafsd\"><script type=\"text\/javascript\">window.rewardsConfigs = window.rewardsConfigs || {};window.rewardsConfigs[\"freecash|mmo|may-2026~cafsd\"] = {\"startDate\":\"2026-05-07T08:00:00.000Z\",\"endDate\":\"2026-06-01T03:59:59.000Z\",\"showVisaLogo\":true,\"minimalUx\":true,\"countryCode\":\"CA\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"bannerConfig\":{\"badgeText\":\"FINDER REWARDS EXCLUSIVE\",\"title\":\"Get $40 from Finder\",\"titleHighlight\":\"$40\",\"copyText\":\"Open an account with \\u003Cb\\u003EFreecash\\u003C\\\/b\\u003E through Finder and withdraw at least $20 USD in earnings from Freecash within 30 days of account activation to receive a \\u003Cb\\u003E$40 Visa gift card from Finder + get a $10 CAD sign-up bonus\\u003C\\\/b\\u003E from Freecash. Offer ends May 31, 2026.\",\"termsText\":\"Separate T\\u0026Cs apply.\",\"ctaText\":\"GET DEAL\",\"iconUrl\":\"https:\\\/\\\/www.finder.com.au\\\/parent-theme\\\/members\\\/prod\\\/images\\\/rewards-icon.d44fdf8dde3fe4daca8c6a17d56489ca.svg\",\"nicheText\":\"\",\"mode\":\"modal\",\"metaData\":{\"productId\":\"cfcb506f-1ba2-43b8-bd21-fb6db8d489c6\"},\"logoUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/svg-image\\\/rewards-logo-freecash\",\"nicheCode\":\"CAFSD-MMO\",\"value\":\"40\",\"faqUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/make-money-online\\\/freecash-april-2026-promotion\",\"validationDate\":\"2026-07-30T23:59:59.000Z\",\"fulfillmentDate\":\"2026-08-15T23:59:59.000Z\",\"termsAndConditionsUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/finder-rewards\\\/finder-freecash-promotion-terms-and-conditions-april-2026\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"referAFriendValue\":\"10\"},\"modalConfig\":{\"requireName\":true,\"title\":\"Get $40 from Finder\",\"subtitleText\":\"Your Visa card will be delivered here. Your details must match your new Freecash account\",\"items\":[{\"icon\":\"user\",\"text\":\"Create a Finder account for free in under 1 minute\"},{\"icon\":\"shopping-bag\",\"text\":\"Open a \\u003Cb\\u003EFreecash account\\u003C\\\/b\\u003E online through Finder and withdraw at least US$20 in earnings\"},{\"icon\":\"confetti\",\"text\":\"Receive your $40 digital Visa card from Finder on or before August 15, 2026\"}],\"heading\":\"Get $40 from Finder\",\"membersHeading\":\"Get $40 from Finder\",\"text\":\"\\u003Cb\\u003EHow it works\\u003C\\\/b\\u003E\\n* Create a Finder account for free in under 1 minute\\n* Open a \\u003Cb\\u003EFreecash account\\u003C\\\/b\\u003E online through Finder and withdraw at least US$20 in earnings\\n* Receive your $40 digital Visa card from Finder on or before August 15, 2026\",\"membersText\":\"\\u003Cb\\u003EHow it works\\u003C\\\/b\\u003E\\n* Open a \\u003Cb\\u003EFreecash account\\u003C\\\/b\\u003E online through Finder and withdraw at least US$20 in earnings\\n* Receive your $40 digital Visa card from Finder on or before August 15, 2026\",\"emailCaption\":\"Your Visa card will be delivered here. Your details must match your new Freecash account\",\"continueText\":\"GET $40 REWARD\",\"abortText\":\"SKIP REWARD, CONTINUE TO FREECASH\",\"copyText\":\"Ends on May 31, 2026\",\"termsText\":\"T\\u0026Cs apply\",\"logoUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/svg-image\\\/rewards-logo-freecash\",\"nicheCode\":\"CAFSD-MMO\",\"value\":\"40\",\"faqUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/make-money-online\\\/freecash-april-2026-promotion\",\"validationDate\":\"2026-07-30T23:59:59.000Z\",\"fulfillmentDate\":\"2026-08-15T23:59:59.000Z\",\"termsAndConditionsUrl\":\"https:\\\/\\\/www.finder.com\\\/ca\\\/finder-rewards\\\/finder-freecash-promotion-terms-and-conditions-april-2026\",\"isAlwaysOn\":false,\"validationDaysAfterEntry\":null,\"fulfillmentDaysAfterEntry\":null,\"referAFriendValue\":\"10\"}};<\/script> <a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/ca\/make-money-online\/freecash-make-money-online-ca-secure.html?nb=1&amp;src_country=ca&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Go%2Bto%2Bsite%22%2C%22site%22%3A%22CAFSD-MMO%22%2C%22class%22%3A%22luna-button%2Bluna-button--fluid%2Bluna-button--success%2Bluna-button--fluid%2Bhas-margin-top-small%22%2C%22offer_id%22%3A%2225922%22%2C%22niche_code%22%3A%22CAFSD-MMO%22%2C%22product_id%22%3A%22cfcb506f-1ba2-43b8-bd21-fb6db8d489c6%22%2C%22product_name%22%3A%22Freecash%22%2C%22provider_id%22%3A%229b7d7d06-eb37-43d0-a448-7f394e4b29df%22%2C%22provider_name%22%3A%22Freecash%22%2C%22post_id%22%3A%22741446%22%2C%22post_path%22%3A%22payday-loans%252Fpayday-loan-alternatives%22%2C%22post_country%22%3A%22ca%22%2C%22partial%22%3A%7B%22id%22%3A1054175%2C%22name%22%3A%22mmo-freecash-hero%22%2C%22country%22%3A%22ca%22%7D%7D\" class=\"luna-button luna-button--fluid luna-button--success luna-button--fluid has-margin-top-small rewards--cta\">Go to site<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article><h3>Frequently asked questions<\/h3><ul class=\"luna-accordionGroup accordionGroup\">\n\t<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000000\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000000\">\n                <span class=\"luna-accordion__title\">What can you do instead of taking out a payday loan?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000000\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>You have several payday loan alternatives, which include pay advance apps, credit counselling, overdraft protection installment loan and credit card cash advance.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000001\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000001\">\n                <span class=\"luna-accordion__title\">Is a payday loan really that bad?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000001\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Payday loans are enticing because they can give you access to extra cash very quickly, but the price for this convenience is excruciatingly high interest rates, which can be 300% or more. The interest can add up quickly, especially if you find yourself returning to payday lenders repeatedly. When each future paycheque is going toward paying off your payday loans, you could very easily get stuck in an endless cycle of debt.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000002\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000002\">\n                <span class=\"luna-accordion__title\">Do credit unions offer payday loans?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000002\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>No, credit unions do not offer payday loans.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Before taking out a payday loan, consider looking into these alternatives first.<\/p>\n","protected":false},"author":1000,"featured_media":741769,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[5506],"tags":[],"asset_tag":[],"class_list":["post-741446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-payday-loans"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>18 Payday Loan Alternatives | Finder Canada<\/title>\n<meta name=\"description\" content=\"Payday loans are notorious for exorbitant rates and short repayment terms. 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