Lendly offers quick loans from $1,000 to $2,000 to employees on a payroll system in certain states. Loans can be funded in as little as 24 hours with repayments coming from future paycheques. While Lendly doesn’t charge any fees, its loans accrue interest on a daily basis and APRs can run as high as a typical payday loan.
Lendly isn’t available in Canada. But these alternatives to Lendly might help you get the money you need with competitive rates and flexible repayment terms.
Apply for a Cashco loan easily online, in-store or over the phone. The lender serves good and bad credit borrowers living in Ontario, British Columbia, Alberta, Saskatchewan and New Brunswick. Newcomers to Canada are welcomed to apply. Approved applicants are funded within 24 hours.
Fast bad credit loans
Flexible terms
No collateral required
No prepayment penalties
High rates
Not available in all provinces
Loan amount
$500 – $7,000
APR
20% – 48.99%
Term
6 - 60 months
Min. credit score
300
Fees
Up to 10% of your loan amount to set up your loan, NSF and late payment fees of $25.
Fill out a single loan application in less than 10 minutes on the Loans Canada website, and view loan offers from multiple lenders that work with borrowers with your financial needs. The free platform makes it easy to compare multiple types of financing, including personal loans, car loans, debt consolidation loans and home equity loans.
Loans for good and bad credit
Compare multiple lenders
APRs starting at 9.9%
Get funded in one to three business days
High rates for bad credit
Not a direct lender
Limited to Loans Canada's partner network
Loan amount
$300 – $50,000
APR
9.9% – 46.96%
Term
4 - 60 months
Min. credit score
300
Fees
No application, origination or brokerage fees
Origination fee
0
Turnaround time
Receive funds in as little as 24 hours.
Alternative for bad credit borrowers: Spring Financial
Spring Financial is an option for those who have trouble getting approved by banks and other traditional lenders. Apply online with good or bad credit, and get funded within 24 hours if approved. You won't face any prepayment penalties if you decide to pay off your loan ahead of schedule to save on interest.
High-risk applications are okay
Flexible loan amounts from $500 to $35,000
No early repayment fees
Interest rates of up to 46.99% for bad credit
You may be offered a credit builder loan (The Foundation loan) instead of a personal loan
Like Lendly, LoansLoans.ca offers fast, short-term loans. Unlike Lendly, you'll have more time to repay, with terms as long as 12 months, and APRs are much lower, maxing out at 32%. Plus, there's no credit check required.
Bad credit is okay
Fast access to funds
Easy online application
No collateral required
No early repayment fees
Brokerage fee applies
Self-employed workers are not eligible
Requires a minimum monthly income of $1,200
Loan amount
$500 – $1,000
APR
28% – 32%
Term
3 - 12 months
Min. credit score
300
Fees
Late payment fee (2.66% per month), $45 NSF fee, broker fee
Apply online for an interest-free line of credit of up to $250 to cover small expenses and build your credit. You can choose to get premium perks like fast funding (within 30 minutes), a free Equifax credit report and identity theft protection for $11.99 per month.
Get funds within 30 minutes
Build your credit history
No interest or late fees
Easy application process
Rewards program
Option to extend your payment deadline
May take up to 3 business days to get funds if you're not a member
Monthly membership fee ranging from $4.99 to $11.99
Amount may not be enough
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.
KOHO Cover also offers interest-free cash advances to help you cover short-term financial needs without the hassle of making long-term loan repayments. Borrow funds instantly through KOHO's app, or withdraw money from an ATM. A small monthly subscription fee applies.
No credit check
No interest
Instant access to funds
No income required to qualify
Monthly subscription fee starting at $2
May have to pay a monthly KOHO plan fee
$250 may not be enough
Won't improve your credit score
Loan amount
$20 – $250
APR
Starting at 0%
Term
Flexible
Fees
0% interest with a subscription fee starting at $2/month
Launched in 2021, Bree provides short-term cash advances to help you ride through small financial emergencies without going into the overdraft. Borrow funds with zero interest, however there's a monthly fee plus a small optional fee for same-day funding.
Easy to apply
No credit check required
No interest charges
Monthly membership fee
Extra fee for express funding
Small amount may not suit your needs
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.
Lendly stands out for having an automated lending process that interfaces with US employers’ payroll systems, making it easy to get approved. The company has good customer reviews on Trustpilot from thousands of customers who mention that it’s easy to make repayments, because funds come directly out of their paycheques.
But like other payday lenders, APRs can run high with Lendly. The company doesn’t disclose APR ranges on its website. Because repayments are fully automated, customers can’t change their payment dates if their bank balances are low. If you live in Canada and need to borrow less than $1,000, you may find a zero-interest cash advance app cheaper to use.
Pros
No penalty for early repayments
Good customer reviews
Higher Loan limits than most cash advance apps
Cons
Not available in Canada
Lack of transparency around costs
APRs can run high
Repayments are inflexible
Alternatives to cash advances and installment loans
If you’d rather skip installment loans and cash advance apps altogether, here are a few alternatives to consider.
Get a credit card advance. Credit card cash advances are a quick and convenient way to borrow and don’t require a link to your bank account or proof of direct deposits to qualify like some cash apps. Compare credit cards with a range of benefits.
Take out a personal loan. If you’re willing to borrow at least $1,000, a personal loan may offer better rates and terms than a payday lender like Lendly. Compare personal loans for a range of credit scores, including bad credit.
Use a buy now, pay later (BNPL) app. While not a cash advance, BNPL apps like Affirm, Afterpay and Klarna let you purchase items you need now and pay them off later.
Get a payday loan—as a last resort. If you’ve exhausted other options, payday lenders can get you cash as soon as the same day. But beware—a typical $500 payday loan can come with $70+ in fees, and you could get stuck borrowing repeatedly to pay off existing debt.
Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family. See full bio
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:
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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.
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