Nyble Credit Line
- Access up to $250 to build credit
- No credit check
- No interest or required fees
Apps like SoLo Funds
Find fast funding with these SoLo Funds alternatives in Canada.
SoLo Funds is a US-based, peer-to-peer (P2P) cash advance app. It offers borrowing and lending options, and anyone who has a membership can lend or borrow from other members.
Like other pay advance apps, SoLo Funds offers loans with no interest. Loan amounts range from $20 to $575 — higher than many other cash advance apps in both the US and Canada. It also helps US residents build credit by reporting payments to the American credit bureaus.
Here are some great alternatives to the SoLo Funds app you can apply to in Canada, highlighting different needs like longer repayment terms, larger amounts or when you need instant delivery.
Is SoLo Funds in Canada?
No, SoLo Funds is not available in Canada. Instead, SoLo Funds is based in Los Angeles, California in the US and only offers loans to US residents. It has been BBB accredited since 2022 and currently has a B rating.
Payday loans like SoLo Funds
Cash advances like SoLo Funds
- Alternative for flexible repayments: Nyble
- Alternative for no credit check cash advances: KOHO
- Alternative for fee-free pay advance app: Bree
⚠️ 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. 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. Maximum borrowing costs will vary by province. Review the maximum borrowing cost for your province before entering into a loan agreement.Compare payday loans like SoLo Funds
Alternative for fast payday loans: iCash
iCash Payday Loan
$100 – $1,500
Loan amount
Loan amount
7 – 62 days
Loan Term
Loan Term
2 minutes
Min. Turnaround Time
Min. Turnaround Time
iCash provides quick funding and accepts non-employment income. You can get e-Transfer funding in as little as 2 minutes after approval. Unlike SoLo Funds, iCash provides payday loans so you can borrow more but at higher rates.
- 4.8/5 stars based on over 2,100 Trustpilot reviews
- Get money within an hour
- Get funded 24/7
- Payday loans are expensive
- Short repayment terms
- Only available in AB, BC, MB, NB, NS, ON, PEI
| Loan amount | $100 – $1,500 |
|---|---|
| APR | Varies by province |
| Term | 7 - 62 days |
| Min. Turnaround time | As little as 2 minutes with Interac e-Transfer |
| How to apply | Online In Store |
| Credit Check | Yes |
Alternative for emergency loans: GoDay
GoDay Payday Loan
$100 – $1,500
Loan amount
Loan amount
1 – 62 days
Loan Term
Loan Term
2 minutes
Min. Turnaround Time
Min. Turnaround Time
GoDay offers payday loans you can apply for and get approved for within minutes. Once approved, loan funds can be transferred within minutes. While SoLo Funds offers small pay advances, GoDay in contrast offers payday loans, which means you can borrow up to $1,500 at a high interest rate.
- 4.5/5 stars based on over 2,300 Trustpilot reviews
- Get loan funds via e-transfer
- Apply and get funding 24/7
- Very expensive APR
- Can easily trap customers in a cycle of debt
- Only available in AB, BC, MB, NB, NS, ON, PEI, SK
| Loan amount | $100 – $1,500 |
|---|---|
| APR | Varies by province |
| Term | Up to 62 days |
| Min. Turnaround time | As little as 2 minutes with Interac e-Transfer |
| How to apply | Online In Store |
| Credit Check | Yes |
Dive deeper: Best payday loans in Canada
Compare cash advances like SoLo Funds
Alternative for flexible repayments: Nyble
Nyble Credit Line
$30 – $250
Loan amount
Loan amount
Starting at 0%
APR
APR
30 days, extendable
Term
Term
Apply online for an interest-free line of credit of up to $250 to cover small expenses and build your credit. Get funds in 1-3 business days with a free account. For $11.99 per month, get access to premium services, including funding in 1-30 minutes, a free Equifax credit report and identity theft protection. Repay on your next payday or extend the deadline if you're not ready.
- No credit check required
- No application fee
- No late payment fee
- More affordable than payday loans
- $11.99 per month for fast transfers, full credit report and other premium perks
- Small loan amounts only
| Loan amount | $30 – $250 |
|---|---|
| APR | Starting at 0% |
| Term | 30 days, extendable |
| Fees | 0% interest with optional fees |
| Origination fee | $11.99 |
| Turnaround time | 1-30 minutes with a paid membership or 1-3 business days with a free membership. |
Alternative for no credit check cash advances: KOHO
$20 – $250
Loan amount
Loan amount
Starting at 0%
APR
APR
Flexible
Term
Term
Get a zero-interest cash advance ranging from $20 to $250 when you pay a 0% interest with a subscription fee starting at $2/month. You'll need a KOHO account to access this service.
- No late fees
- 0% interest
- No impact on credit score
- Free financial coaching service
- KOHO savings account required
| Loan amount | $20 – $250 |
|---|---|
| APR | Starting at 0% |
| Term | Flexible |
| Fees | 0% interest with a subscription fee starting at $2/month |
| Turnaround time | Immediately |
| Serviced provinces | All provinces and territories |
Alternative for fee-free pay advance: Bree
Bree Early Pay
$20 – $350
Loan amount
Loan amount
Starting at 0%
APR
APR
Next pay cycle (65 days max)
Term
Term
Bree, another pay advance app, lets you borrow a small amount of up to $350 to help you cover expenses until your next payday. Like SoLo Funds, Bree won't charge any interest, but there is a small monthly subscription fee plus an extra fee if you need funding within a few hours.
- Easy application process
- No credit checks
- 0% interest and no late fees
- $2.99 monthly membership fee
- Loan amount may not be enough for your needs
- Extra fee for fast transfers
- May not improve your credit, unlike Nyble
| Loan amount | $20 – $350 |
|---|---|
| APR | Starting at 0% |
| Term | Next pay cycle (65 days max) |
| Fees | 0% interest with a $2.99 monthly membership fee |
| Turnaround time | Receive funds within 5 minutes with express delivery (the fee is based on the advance amount) and up to 3 business days for standard delivery. |
Dive deeper: Cash advance apps in Canada
How SoLo Funds compares
SoLo Funds is a solid P2P lending platform in the US, with a high lending amount compared to other cash borrowing apps. Consider other pay advance apps in Canada like Bree, where you can borrow up to $350, or Nyble, where you can borrow up to $250.
Another notable feature is that SoLo Funds (like Canadian pay advance app, Nyble) is one of the few cash advance apps that reports payments to the credit bureaus so borrowers can build or improve their credit.
There’s an optional feature to tip the lender member from 0% to 15% of your amount or give a voluntary donation to SoLo Funds. There are late fees, and if you don’t repay the loan within the term, you owe a late fee of 10% of your principal on the 35th day after the loan originated.
Pros
- High $575 advance
- Same-day funding available
- Reports payments to credit bureaus
Cons
- Can’t lend and borrow at the same time
- Mixed customer reviews
How to decide which SoLo Funds alternative is right for you
Because SoLo Funds isn’t available in Canada, you’ll need to decide which Canadian alternative is right for you. The first thing to think about is what type of loan to apply for given how much money you need.
If you only need a small amount to get you through to the next payday, consider a 0% interest pay advance from Canadian apps similar to SoLo Funds like Nyble or Bree. If you need to borrow a larger amount and you prefer to borrow from a peer-to-peer platform, consider goPeer.
It’s usually best to avoid payday loans whenever possible because they’re one of the most expensive borrowing options on the market and can easily trap borrowers in a cycle of debt. However, if other borrowing options haven’t worked out, it’s worth looking into reputable payday loan providers like GoDay and iCash, which offer online applications and fast loan turnarounds for up to $1,500.
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