If you’ve come across Advance America and are wondering if there are any Canadian-based alternative lenders, you have options. It’s also important to comparison shop before deciding on a lender so you don’t end up spending more than you need to. Here’s a look at loans like Advance America that you can find in Canada.
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.
Borrow up to $250 at 0% interest
Free &
paid accounts (with a 30-day free trial)
No credit check
Not a payday loan
$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.
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
Zero interest
No impact to credit score
Free financial coaching available
KOHO account required
Loan amount
$20 – $250
APR
Starting at 0%
Term
Flexible
Fees
0% interest with a subscription fee starting at $2/month
Bree offers small interest-free cash advances. You can borrow between $20 and $350 at one time.
Borrow up to $350 at 0% interest
You choose your repayment date
No credit check required
Not a payday loan
$2.99 monthly membership fee
You can only borrow small amounts
Extra fee for faster loan transfers
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.
⚠️ 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.
iCash is one of the fastest payday lenders in Canada. It features an automated 24/7 instant approval process, 24/7 customer support and delivers loan funds within minutes via e-Transfer. You can apply and get the cash transferred to your account any time, day or night.
24/7 application, 24/7 approval, 24/7 customer support
Accepts many types of income including employment insurance, child tax, ODSP, AISH, provincial disability, CPP, OAS and social assistance
Very 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 both in-store & online options: Cash Money
Cash Money accepts many recurring sources of income, including CPP, child tax credit, unemployment, disability, so you don't necessarily need to be employed to get approved. It also has over 140 store locations in provinces across Canada, so you have the option to go in store for your loan too. And if you're looking for other types of loans like Advance America offers, Cash Money also offers installment loans.
Apply online, in-store or over the phone
Get an instant decision
Receive funds quickly: As little as 15 minutes with INTERAC e-Transfer
Very expensive
Very short repayment terms, typically by your next payday
Like other payday loan lenders in Canada, PAY2DAY offers convenient, fast pay advance loans up to $1,500. You also have the option to download the PAY2DAY app to apply quickly from anywhere on your mobile phone or tablet. You can speed up your application by validating your personal information through instant bank verification.
You can apply have funds transferred 24/7
Quick funds transfer: Within 1-2 hours via e-Transfer once approved
Accepts varying types of income like EI, retirement income
An expensive loan option
Short repayment terms
Only available in ON, BC, NS
Loan amount
$300 – $1,500
APR
Varies by province
Term
Up to 62 days
Min. Turnaround time
Within 1-2 hours via e-Transfer once approved
Credit Check
No
How Advance America compares
Advance America charges high interest rates and may be more pricey than other options like personal loans and cash apps. Here are the main pros and cons of this lender.
Pros
Payday loans as small as $50
Sometimes offers online title loans
Offers a convenient online calculator to understand loan costs
Cons
APRs run high
Faced previous lawsuits
Alternatives to payday loans
Payday loans like Advance America offers, while convenient, may not be the best option if you’re looking to save money on interest and get out of debt.
Did you know?
A $300 payday loan can typically cost between $342 and $351, depending on where you live.
The APR on a payday loan can easily hit over 300%.
The percentage of Canadians who used an online lender or payday loan to manage their daily expenses increased from 1.42% in August of 2020 to 4.52% in September in 2022.
Some cash advance apps don’t charge interest and personal loans may be a more affordable option to high interest payday loans. Compare the top cash advance apps and personal loan providers for bad credit to see if these alternatives can save you money.
Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio
Kat's expertise
Kat has written 12 Finder guides across topics including:
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.
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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.
