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Date Published: June 26, 2026
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A payday loan provides short-term funds to help you manage an urgent expense before your next paycheque arrives. These loans are smaller and faster than traditional bank products, and they are built for moments when timing is the issue, not the amount you need to borrow.
Through iCash, you can access between $100 and $1,500 depending on your income and eligibility. Ontario payday loans are structured as a single repayment on your next payday. If you are taking out your third loan within 63 days, you may be eligible for more than one repayment.
iCash uses a straightforward fee of $14 per $100 borrowed. That is the total cost. There are no additional charges, no compounding interest, and no surprise fees at any point during the process. This rate is the maximum allowed under provincial regulations in Ontario.
Every cost is laid out before you sign your contract, so there are no surprises. If you borrow $300, for instance, your total repayment comes to $342: the original $300 plus $42 in borrowing fees. That same $14-per-$100 ratio applies whether you borrow $100 or $1,500.
Getting an online loan with us is fast and easy. Simply select your loan amount, repayment plan* and provide some personal details.
Our online loan application will tell you if you’re approved instantly. Once approved, all you have to do is electronically sign your contract. It’s that easy!
Once you sign your digital agreement, your cash advance will be sent by e-Transfer within 2 minutes. Fast, convenient and hassle-free. Funds are sent 24/7, no matter what.
To apply for a payday loan with iCash, you need to meet the following requirements:
Be at least 18 years old
Be a resident of any of the provinces in which we operate
Show that you have been receiving the same source of income for the past three months.
Have a total net income of at least $800/month.
Have access to an online bank account, in which pre-authorized debits can be performed.*
Have a valid Canadian mobile phone number, address, and email address (VoIP numbers are not accepted)
*Please note that KOHO accounts do not qualify as they do not support pre-authorized debits.
Income does not have to come from a single traditional job. iCash accepts employment wages, self-employment income, CPP and private pensions, Employment Insurance, disability benefits, child tax benefits, and provincial programs such as ODSP (Ontario Disability Support Program).
iCash conducts a one-time credit check on your first loan application. All subsequent loan applications are exempt from any credit check. A less-than-perfect credit score does not disqualify you. What matters most is your income and whether you meet the basic requirements.
Did You Know?
Across Ontario, the most common reason iCash borrowers apply for a loan is groceries, making up over 36% of all applications. Rent and mortgage payments account for another 17%. For many Ontarians, a payday loan is not about an emergency. It is about covering the essentials when the timing between bills and income does not line up.
Cashback Rewards: Repeat borrowers earn up to 12% cashback on their borrowing fees, a perk that is not available through cash advance apps or traditional in-store payday lenders.
Referral Program: Earn rewards by referring friends or family through the iCash Referral Program. When someone you refer applies and is approved, you both benefit.
Trusted by Canadians: More than 1 million Canadians have borrowed through iCash. On Trustpilot, iCash holds a 4.7 out of 5 rating. See what real customers are saying.
All Credit Welcome: iCash does not turn borrowers away because of a low credit score. All types of credit are accepted, and returning borrowers skip the credit check entirely.
St. Thomas knows the cost of a plant closing — the shutdown of its Ford assembly operations took thousands of well-paying jobs and reshaped the city's sense of what work looks like. Now it sits on the edge of a different transformation, with the Volkswagen battery plant promising to remake the local economy again, though such transitions rarely arrive evenly or overnight. Between the legacy of what was lost and the uncertainty of what is coming, many St. Thomas households are navigating a period where the ground keeps shifting under their budgets.
The cost of living in St. Thomas is lower than in the GTA or Ottawa. But so is the median household income, at approximately $72,000 per year (Statistics Canada, Table 98-10-0024-01, 2021). And in a smaller community, there are fewer employers, fewer income options, and fewer places to turn when a financial gap opens up.
Rent: $1,300
Groceries: $670
Transit: $70 (monthly pass, adult)
Average consumer debt load: $22,955 (Equifax Canada, Ontario average)
Renters as share of households: about 28% (Statistics Canada, 2021 Census)
With an unemployment rate of 9.3% (Statistics Canada, Labour Force Survey, London CMA) and a rent-to-income ratio of 21.67%, the challenge is not that costs are extreme. It is that there is less cushion when something goes wrong.
In 2025 alone, more than 90,000 Ontarians turned to iCash for short-term funds.
For free financial guidance, Credit Canada offers support to St. Thomas-area residents.
A payday loan is meant to help with a short-term need, not to serve as a regular source of income. Before you apply, make sure you have a clear picture of when your repayment is due and that it will not leave you short on essentials like rent, food, or utilities.
Ontario payday loans are repaid in one payment on your next payday. If this is your third loan within 63 days, you may be eligible for more than one repayment. Either way, plan ahead and know your repayment date.
There are other options worth exploring if a payday loan is not the right choice for your situation. A nonprofit credit counsellor, a provincial assistance program, or even a direct conversation with a service provider about extending a payment deadline could help. The Financial Consumer Agency of Canada (FCAC) offers useful information about borrower rights and financial resources available in Ontario.
iCash lends across southwestern Ontario, not just in the largest centres. If you are nearby, you can also find payday loan information for London(https://icash.ca/payday-loans-london) and Woodstock(https://icash.ca/payday-loans-woodstock) — each with the same fast, fully online application.
Behind each review is an experience that matters
Since 2016, we've helped over 1.6 millions Canadians get instant loans online.
Since 2016, we've helped over 1.6 millions Canadians get instant loans online.
Read more reviews.
Earn money every time you borrow with iCash! Our unique cashback program is designed to reward you for being a loyal customer and can help you save on future loan payments. After successfully paying off your first online loan, you'll receive 4% of the cost of borrowing credited to your account. You can earn up to 12% depending on how many iCash loans you have repaid.
Have more questions? Check out our full FAQ.
