Payday Loans with Government Benefits

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Payday Loans with Government Benefits in Canada

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In Canada, payday loans for people on government benefits are offered to individuals who receive income through a government program. These loans help you pay for expenses that you may not have accounted for. They offer immediate financial help to people who need quick cash right away.

Not every lender recognizes government benefits as a valid source of income to offer you loans. There are a few that do, so you should shop around and compare to see which lenders offer the best rates and loans.

These loans for welfare recipients in Canada are offered mainly by loan companies that accept benefits as a source of income. They are more accessible through direct lenders; you can apply both in stores and online.

Many Canadians opt for payday lenders online because they are more convenient, easy, and much faster to apply for, also they have more flexible requirements. As compared to other types of financial help, these loans are easily attainable and are preferred by Canadians from various economic backgrounds.

Anyone with government benefits, bad credit, or a low income can get a loan between welfare payments.

You can apply for a payday loan while on benefits for up to $1,500. No matter how much you borrow, you’ll need to pay a maximum borrowing fee for every $100 you take out.

Repayment for these loans tends to be shorter than other forms of personal loans and lines of credit. Borrowers are given anywhere from 14 days to 62 days to pay back their money loan, depending on the province they reside in.

The process of applying for a loan in Canada is quite simple and convenient. Because of their speedy application process and quick turnaround time, loans for those on benefits are highly demanded and relied on by many for short-term financial relief.

Welfare Loans

Payday Loans for Those on Benefits

Here are the different types of payday loans for those on benefits that are available based on various government programs that offer monthly income to Canadians:

Type of Loan Description

Payday Loans for Unemployed on Benefits in Canada

If you receive unemployment income from EI, you can apply for a loan for unemployed. The minimum amount required is $800, and you should be receiving employment insurance benefits for at least three months.

Payday Loans for Disability Income in Canada

If you receive government assistance due to short or long-term disability, you can use the funds to apply for a cash advance or loan for disability benefits. The requirements stay the same as any other short term loan.

Payday Loans that Accept Child Tax

If you have children and receive child tax benefit, you can use the monthly payments and show it as income. The only catch is that you should be receiving at least $800 minimum collectively for your child(ren).

CPP Payday Loans

If you receive a pension amount of at least $800 per month and have been retired for at least three months, you can also take advantage of a payday loan for pensioners.

Loan eligibility requirements differ from lender to lender, based on the risk they are willing to undertake. Compared to other financial products, payday loans for those on welfare have limited qualification requirements making it easy for most people to be approved.

Loan companies that accept benefits usually approve 90% of applications, but it still doesn’t mean that approval is guaranteed. No reputable lender will make that promise; however, it is still much easier to get approved in Canada for a payday loan for government benefits regardless of your credit score.




Get a payday loan in any of the provinces of Canada!

in Alberta, Ontario, British Columbia, New Brunswick, Manitoba, Nova Scotia, Prince Edward Island.

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Fill out the online application form. Choose your desired loan amount, repayment plan option*, and provide the requested information. It takes most people about 10 minutes or less.

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Our fully automated online application will provide you with an instant decision on your loan. Once approved, all you have to do is electronically sign your loan agreement.

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Once your loan agreement is signed, your funds will be sent via e-Transfer in the next 2 minutes. Fast, convenient loans for people on welfare in Canada.

Minimum repayment period 61 days. Maximum repayment period 62 days. Maximum APR is 109,50%. For a $300 loan, the maximum total cost of borrowing is of $354. Interest fees: Alberta $15 per 100, British Columbia $15 per 100, Manitoba $17 per 100, New Brunswick $15 per 100, Nova Scotia $19 per 100, Ontario $15 per 100, PEI $15 per 100. 372 Bertha Street, Hawkesbury, Ontario, K6A 2A8. iCASH only offers online services. Please note that we cannot accept customers or conduct any transactions from this location.

Payday Loans with Government Benefits FAQs

1. Can I get a loan on benefits?

If you have been receiving government benefits for the last three months, and you have a net income of at least $800/month deposited in your account, you can get a loan while on benefits. We accept many forms of government benefits, including disability benefits, pension benefits, ODSP, AISH benefits, child tax credit, employment insurance, etc.

2. What do I need to qualify for a payday loan while on government benefits?

To be eligible for a payday loan with government benefits, you must meet the following requirements:

    • Be at least 19 years old at the time of your application.
    • Be a Canadian citizen, and a resident of Ontario or Alberta, British Columbia, New Brunswick, Manitoba, Nova Scotia, or Prince Edward Island.
    • Have been receiving the same source or mix of income for at least the past three months.
    • Have a net income of at least $800/month.
    • Have a Canadian bank account that has been open for at least three months and has access to online banking features.
    • Have a valid mobile phone number, email address, and home address.

3. Can I get a loan while on benefits if I have bad credit?

Even if you are on benefits and have a bad credit history, you can still apply for a loan on benefits with us. In fact, we approve of over 90% of the loan applications we receive.

Loans for people with bad credit or no credit history can still be approved for up to $1,500.

4. How much can I borrow if I am on government benefits?

In Canada, you can borrow anywhere from $100 to $1,500 with a payday loan with government benefits.

On occasion, you may receive approval for a lower loan total than you requested. This happens when a responsible lender decides to only provide you with an amount of money you will comfortably repay on time.
20% CASHBACK
Borrow and Save!
Get up to 20% in Cashback!*

iCASH offers a unique Cashback program to reward its customers in Canada. You can get back up to 20% of the cost of borrowing paid once your welfare loan is repaid and receive your Cashback direct into your bank account the same day. Real saving and real money!*

Loans for People on Social Benefits in Canada

Online Loans That Accept Welfare

One of the key benefits of online loans that accept welfare benefits is that they are always available. Thanks to advanced, modern technology, the online lending platform at iCASH can provide you with loans online 24/7.

Everything is automated so that you can get a loan at any time of day, any day of the week, any week of the year. No longer do you have to wait until a bank or loan store is open.

Loans for Those on Benefits and with Bad Credit

Bad credit loans for those on benefits are available from iCASH and other online lenders. While a credit check is performed, it is not a disqualifying factor.

For people with bad credit, obtaining loans, lines of credit, or credit cards can be complicated. This is partially due to the over-reliance on credit scores as a measure of someone’s financial responsibility.

However, at iCASH, we make more in-depth approval decisions based on your whole financial picture.

Flexible Loans for People on Government Benefits

Another reason why many Canadians prefer online loans to their offline counterparts is the degree of flexibility and customization possible.

At iCASH, depending on your income schedule and the province you live in, you can choose to repay your loan in one or multiple installments*. We don’t charge you a higher rate when choosing an installment repayment plan.

The Best Loan Company That Accepts Government Benefits

iCASH is a loan company that accepts government benefits as a valid source of income towards meeting our $800 monthly net income requirement.

We have invested in the latest 256-bit encryption technology to ensure that when you take out a loan in Canada, your application and your data are 100% safe.

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