KOHO is a popular money app that offers a spending and savings account along with a wide range of money management tools. One of its key features is KOHO Cover, which provides quick and easy access to an interest-free cash advance of up to $250 to help you cover unexpected expenses.
But KOHO isn’t your only option if you need a short-term loan fast. Check out these apps like KOHO to find a cash advance or loan that meets your needs.
Nyble provides a credit building line of $30 to $150 to help you develop your credit history and cover short-term cash flow issues. Like KOHO, there are no interest charges to worry about, and Nyble reports your payments to the credit bureaus each month. You'll get funded in 1-3 business days with a free account, or you can get a premium membership for $11.99 a month for fast funding within minutes and other perks.
How to get your cash advance
You'll need to be the age of majority, have a valid Canadian bank account and have more than $1,000 directly deposited into your account each month. Apply online by providing your name, contact details, date of birth, bank account details and proof of ID.
Easy online application
No credit check
Interest-free
Build your credit score
Maximum loan amount of $150 may not be enough
$11.99 monthly fee if you want fast access to funds
Loan amount
$30 – $150
APR
Starting at 0%
Term
30 days, extendable
Fees
No interest or fees to access credit, optional $11.99/month membership for premium services like instant funding
Origination fee
$11.99
Turnaround time
1-30 minutes with a paid membership or 1-3 business days with a free membership.
Bree offers interest-free cash advances of up to $350 to help you cover unexpected expenses. It's easy to apply, and there are no credit checks. But keep in mind that a $2.99 monthly membership fee applies. You'll get funded within 3 business days, unless you pay an extra fee to receive funds within 8 hours.
How to get your cash advance
You'll need to have an active chequing account and receive recurring income via direct deposit. Apply online by providing your name, date of birth, contact information and bank account details.
No credit check
No interest
No late fees
Monthly membership fee
Extra fee for fast access to funds
$350 may not be enough for your needs
Loan amount
$20 – $350
APR
Starting at 0%
Term
Next pay cycle (61 days max.)
Fees
No interest or fees for cash advances, fee for express funding (varies based on advance)
Turnaround time
Within 8 hours with express delivery (fee is based on the advance amount) and up to 3 business days for standard delivery
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.
Next on our list of apps like KOHO is iCash, an online 24/7 payday lender that provides loans of up to $1,500. Approvals are instant and the funds are sent to your account via e-Transfer, so it's possible to get funded in minutes. But unlike KOHO, iCash offers payday loans that come with very high APRs.
How to get your loan
Apply online or via the iCash app. Provide your name, date of birth, contact information and details of your employment and income.
4.6/5 stars based on over 2,400 Trustpilot reviews
Apply for a loan of up to $1,500 online or in person with payday lender PAY2DAY. Applications are accepted 24/7 and, like KOHO, there are no credit checks to worry about. It's also possible to get approved and funded within 1-2 hours. Unlike KOHO, PAY2DAY offers payday loans, which are very expensive to repay.
How to get your loan
Apply online, in-store or via mobile app. You'll need to have a Canadian bank account and receive a steady income. Apply by providing your personal info, proof of ID and income and employment details.
Fast access to funds
24/7 funding and approval
4.8/5 stars based on over 5,400 Trustpilot reviews
Money Mart provides payday and installment loans online and in-store. Payday loans of up to $1,500 are available, and you can get approved and funded in as little as 24 hours. However, keep in mind that payday loans are very expensive to repay.
How to get your loan
Apply online or in-store. You'll need to have a chequing account and a steady source of income, and you can apply by providing your personal information and bank account details.
4.5/5 stars based on over 4,000 Trustpilot reviews
Pay loan and line of credit provider Cash Money has been in business for over 30 years. You can apply for a payday loan of up to $1,500 and get approved and funded in a matter of minutes. There are no credit checks either, but keep in mind that payday loans are very expensive to repay.
How to get your loan
Apply online, via mobile app, in-store or over the phone. Eligibility requirements include a chequing account and a steady source of income. Apply by providing your name, contact info and employment and income details.
Established in 1992
4.4/5 stars based on over 4,800 Trustpilot reviews
Credit Club is an online payday lender that offers short-term loans of up to $1,500. You can apply for a loan online any time, and it's possible to get approved and funded in as little as 30 minutes. But payday loans are expensive, so make sure you can afford repayments before you apply.
How to get your loan
Apply online 24/7. You'll need to have an active chequing account and have been employed in the same job for at least three months. The application requires your name, contact information, bank account information and employment and income details.
Get your loan within 30 minutes
Apply 24/7 with automatic approvals
No credit check
4.7/5 stars based on over 3,100 Credit Club reviews
Expensive
Short repayment period
New customers limited to $500
Not available in all provinces
Loan amount
$100 – $1,500
APR
Varies by province
Term
Up to 62 days
Min. Turnaround time
30 minutes
Credit Check
No
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
How does KOHO compare?
You can read our KOHO Cover review for full details of how it stacks up against the competition. But if you want a quick rundown, check out the pros and cons below.
Pros
Interest-free cash advance of up to $250
No credit check needed to apply
Repay your cash advance any time
Instant access to funds in the KOHO app or via ATM
No required income
Cons
A monthly KOHO Cover fee of at least $2 applies
You may also need to pay a KOHO plan fee, but there is a free plan available.
Maximum cash advance of $250 may not be enough for some people
Won’t improve your credit score
Bottom line
KOHO Cover is well worth a look if you need access to emergency cash, but it’s far from your only option. There are several other apps like KOHO that offer quick and easy access to short-term cash advances and loans. Compare them all to find the right option for you, but just make sure you understand the full cost of borrowing before you apply.
Was this content helpful to you?
Thank you for your feedback!
Written by
Tim Falk
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 profile
Borrowing $100 can be a quick and easy process. This guide covers how you can get a small loan in Canada, including benefits, drawbacks and eligibility requirements.
Feedback
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.
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.com 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.com 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.
