Cash 4 You loans review

What is Cash 4 You?

If you’re looking for an easy solution for an unexpected cash shortfall, you might like to check out a payday or installment loan from Cash 4 You. This lender offers quick financing online and at hundreds of storefront locations. Just beware that these Cash 4 You online loans come with very high rates and fees, and they are more expensive than traditional loans.

How does borrowing from Cash 4 You work?

Cash 4 You is a Canada-based lending company where you can borrow up to $1,500 with payday loans and $15,000 with an installment loan. To apply for financing, you’ll need to fill out an application form online or at a Cash 4 You store.

Cash 4 You installment loans are only available in Ontario, so you won’t be eligible for a loan if you live in any other Canadian province or territory. Payday loans are available in Ontario and BC, and you can apply from them online (or in person if you live in Ontario).

Is Cash 4 You legitimate?

Yes, Cash 4 You is an established business that’s been operating in Ontario since 2001. It’s a fully licensed lender, recognized by the Canadian Consumer Finance Association. It has over 100 store locations to choose from in Ontario and has received high customer satisfaction reviews across several prominent review platforms.

What types of loans does Cash 4 You provide?

Cash 4 You loans include both installment loans and payday loans:

Cash 4 You loans	Loan amount	Interest rate	Loan term	Eligible provinces	Eligibility requirements
Payday loans	$120 –$1,500	$15 for every $100 borrowed in Ontario and $15 for every $100 borrowed in BC	By your next payday	ON and BC	Be at least 18 years old Be employed and make at least $250 per net pay Have an active bank account
Installment loans	$1,000–$15,000	Up to 46.93%	12–60 months	Ontario only	Be an Ontario resident with a valid government-issued photo ID Be at least 18 years of age Have a steady source of income Have an open and active bank account

What are the benefits of a Cash 4 You loan?

There are many benefits you can enjoy with Cash 4 You online loans and in-person service:

Benefits of payday loans

• Easy application. Get started online or in person in a matter of minutes.
• Fast cash. Get approved for up to $1,500 hassle-free, with funds typically delivered in cash or through Interac e-Transfer on the same day you apply. If your need is urgent, find out more about emergency loans.
• Bad credit is welcome. You won’t need good credit to qualify, though your Cash 4 You interest rates will usually be much higher with bad credit.

Must read: Best payday loans in Canada

Benefits of installment loans

• Improve credit. Build your credit rating by making regular on-time payments.
• High loan amounts. Qualify for between $1,000 and $15,000, even with a less than perfect credit score.
• No fee for early repayment. You won’t have to pay a fee to repay your loan early.
• Eligible for refinancing. You may be eligible to refinance your loan once you’ve paid back enough if it’s still in good standing.

Must read: Best installment loans in Canada

What should I watch out for?

Keep an eye out for these potential drawbacks with Cash 4 You loans:

Drawbacks of payday loans

• High fees. You’ll pay a fee of $15 for every $100 borrowed in Ontario and $15 for every $100 borrowed in BC.
• Fast repayment. You’ll have to repay your loan by your next payday.
• Small amounts. You can only apply for up to $1,500 at one time, and you’ll have to pay that amount off in full before you can qualify for a second loan.

Drawbacks of installment loans

• Very high interest. Cash 4 You interest rates can be as high as 46.93%, which is more expensive than other loan types.
• Only available in Ontario. You’ll only be able to apply for Cash 4 You online loans if you’re a resident of Ontario with a valid provincial ID.
• Documents must be verified in person. You’ll have to bring your documents into a Cash 4 You store location to be verified by an agent before you can get your cash.

Compare Cash 4 You to other lenders

• Payday loans
• Installment loans

How much does a Cash 4 You payday loan cost vs an installment loan?

Let’s say an Ontario resident needs to borrow $1,000 and is considering two Cash 4 You online loans: a payday loan and an installment loan.

	Payday loan	Installment loan
Loan amount	$1,000	$1,000
Cost to borrow	$15 per $100 borrowed	46.93%
Loan term	14 days	12 months
Payment	$1,150 (one time)	$106/month
Total interest paid	$150	$272
Total loan cost	$1,150	$1,272

If you look solely at the dollar amounts, the payday loan is about $120 cheaper overall than the installment loan – even though the payday loan has a much higher APR. This is due to its short term. The installment loan will cost more because it has a 12-month term, but you can pay the loan back in smaller installments, which could be better for your budget.

Should I get a Cash 4 You payday loan or installment loan?

That’s really up to you and depends on your unique financial situation. When deciding on the loan type that would be the best fit, you may want to consider the factors below:

• Loan amount. Payday loans are capped out at $1,500, while installment loans can be for up to $15,000, depending on your income and credit score.
• Credit score. You can usually qualify for a payday loan with bad credit. You may need a fair to good credit score (above 550) to qualify for installment loans.
• Loan cost. Both loan costs are high, but installment loans tend to have significantly lower APRs than payday loans, which means they are less expensive overall.
• Frequency of repayments. Payday loans require one lump-sum payment of the whole amount you borrow plus fees by your next payday. Installment loans come with lower monthly payments over a period of 12–60 months.

What should I know before I apply for Cash 4 You?

Eligibility requirements

To apply for a loan from Cash 4 You, you need to meet the following criteria:

• Be at least 18 years old.
• Be a resident of Ontario (BC residents can also apply for payday loans)
• Have a Canadian bank account.
• Earn a steady form of income (at least $250 per net pay for payday loans).

Cash 4 You required documents and information

• Proof of ID. You’ll have to show a government-issued piece of ID like your driver’s licence or passport to prove your identity.
• Proof of address. You may need to submit a utility or cell phone bill to prove that you’re living at a stable address in Canada.
• Pre-authorized debit. You’ll have to submit a direct deposit form to facilitate withdrawals from your account.
• Income verification. You could be required to submit pay stubs, bank statements or other documents to prove your income.

How to apply for Cash 4 You

Check that you meet eligibility requirements and follow the steps below:

1. Visit the main page for the Cash 4 You online loans website and click “Get money”.
2. Click “Get started” on the page you select (payday or installment loans) to start your loan application.
3. Fill in the application with personal information like your name, email address, proof of ID and relevant documents.
4. Review and submit your application.
5. Get verified and negotiate the terms of your loan if you meet the eligibility requirements.
6. Choose how you’d like to receive your funds.

Summary of Cash 4 You reviews

Feature	Details
BBB accredited	No
BBB rating	F
BBB customer reviews	1.17 out of 5 stars, based on 25 Cash 4 You reviews
Trustpilot reviews	4.9 out of 5 stars, based on 16,737 Cash 4 You reviews
Customer Cash 4 You reviews verified as of	January 9, 2023

What do Cash 4 You reviews have to say?

The majority of Cash 4 You reviews indicate that customers are satisfied with the loan application and approval process. Many say they received money quickly and had a good experience, especially when visiting a store location.

A smaller proportion of Cash 4 You reviews indicate that customers feel the company has poor customer service. A handful also claim that Cash 4 You took funds from their accounts after their loans were paid off in full.

Bottom line

Cash 4 You is a licensed lender offering payday and installment loans in Ontario. It is a trusted business that’s been in operation since 2001. Use this Cash 4 You review to learn more about the pros and cons of getting a loan and find out how you can qualify today.

Frequently asked questions about Cash 4 You

• How long does it take to get approved?

  You’ll receive a decision on your loan as soon as you submit your application. That said, Cash 4 You will only deposit your funds once your application information is verified and you’ve signed all of the required documentation.

  You may be able to get approved with bad credit as long as you have enough income coming in, and you’ve held stable employment for several months. You may even be able to get a loan if you’ve been discharged from a consumer proposal or bankruptcy. Just be prepared that Cash 4 You interest rates will usually be much higher if you have bad credit. Learn more about the best bad credit loans.

• How do I make my payments?

  You’ll have to start repaying your loan through automatic withdrawals by your next payday. For this reason, it’s important to track when your money is due so you don’t end up paying a fee for having insufficient funds in your account.