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Date Published: April 6, 2023 (Updated June 9, 2026)
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TL;DR
iCash is a licensed online lender operating in seven Canadian provinces: Ontario, British Columbia, Alberta, Manitoba, PEI, New Brunswick, and Nova Scotia. We offer small payday loans from $100 to $1,500 at $14 per $100, the maximum regulated rate in most licensed provinces. Approved loans are sent by e-Transfer 24 hours a day, including weekends and holidays. First-time applicants are subject to a one-time hard credit check; all subsequent loans are exempt from it.
A small payday loan is a short-term loan of $100 to $1,500 used to bridge the gap to your next paycheque. The loan is repaid in a single payment on your next pay date, usually within 14 days. Because the loan is small and short, lenders use a flat fee instead of monthly interest. With our licensed online lending service, the rate is $14 for every $100 borrowed.
Small payday loans differ from personal loans and lines of credit in three ways
Loan size: Personal loans usually start at $1,500 or higher, but small payday loans start at $100, which keeps borrowing scoped to the actual expense.
Term length: Personal loans are repaid in monthly installments over months or years. A payday loan is repaid in a single payment on your next pay date.
Decision speed: Personal loans can take several business days to underwrite. Our licensed online lending service issues an instant decision and sends funds by e-Transfer within minutes.
Do you need a larger amount or a longer term? See our main payday loans product page.
We offer small payday loans from $100 to $1,500, at a regulated cost of $14 per $100 borrowed. There are no monthly subscription fees, no express transfer fees, no tip prompts, and no hidden charges.
Here’s what your loan will cost with us:
Loan Amount | Fee ($14 per $100) | Total Repayment |
$100 | $14 | $114 |
$200 | $28 | $228 |
$300 | $42 | $342 |
$500 | $70 | $570 |
$750 | $105 | $855 |
$1,000 | $140 | $1,140 |
$1,500 | $210 | $1,710 |
APR example: A $200 loan repaid in 14 days at $14 per $100 borrowed has a fee of $28 ($14 × 2), which works out to an APR of approximately 365%. APR is calculated as if the loan were held for a full year, so the figure looks larger than the actual dollar cost over the 14-day term.
To apply for our small payday loan, you need to:
Be at least 18 years old (19 in BC, NB, and NS)
Be a Canadian resident
Have a valid email address and an active mobile phone number
Have a Canadian bank account with at least 30 days of transaction history
Have a regular, verifiable source of income
We accept all standard income types, including:
Employment income (full-time, part-time, or contract)
Canada Pension Plan (CPP) and Old Age Security (OAS)
Employment Insurance (EI)
Disability benefits, including CPP-Disability and provincial programs
Child Tax Benefit
Self-employment income
Bad credit isn’t a barrier to approval. iCash conducts a one-time hard credit check on your first loan only; all subsequent loans are exempt from a hard pull. We assess affordability based on your income and banking history, not your credit score alone.
Many applicants are approved, including some who may not qualify with traditional banks. If you have a low credit score or no credit file, our bad credit loans page has more on how our online lending service evaluates applications.
The full application takes about 5 minutes and entails three primary steps:
Apply online: Complete the secure application at icash.ca with your contact details, income source, and banking information. The form works on phones, tablets, or laptops, 24/7.
Get an instant decision: Our automated underwriting reviews your application in real time. Most applicants receive a decision in under 90 seconds, with no callback or manual review needed.
Receive your money by e-Transfer: Once approved, funds are sent by e-Transfer to your bank account within minutes, 24 hours a day, including weekends and statutory holidays. Learn more on our e-Transfer loans page.
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.
Several Canadian apps now offer "cash advances" of $20 to $250. They look cheaper at first glance, but their cost structure is very different from that of a regulated payday loan.
Here’s a side-by-side comparison:
Feature | iCash Small Payday Loan | Typical Cash Advance App |
Maximum amount | Up to $1,500 | $20–$250 |
Cost structure | Flat fee, $14 per $100 | Subscription + express fee + tip |
Monthly subscription | None | $5–$10 per month |
Express transfer fee | None | $4–$9 per advance |
"Optional" tip prompt | None | 10–20% suggested |
Funding speed | e-Transfer in minutes, 24/7 | Same-day with express fee; otherwise 1–3 business days |
Provincial regulation | Largely unregulated | |
Maximum borrowing cost | Capped by provincial law | No legal cap on combined fees |
Our customer support team often hears from customers who were overwhelmed by how quickly small borrowing costs had added up when they used other services. With some online lenders, many people don’t realize they’re paying a monthly subscription fee, an express transfer fee, and a suggested tip each time they use a cash advance app. In some cases, the total cost to access a small amount of money can end up being higher than expected. With us, however, the cost is straightforward: $14 per $100 borrowed, with no subscription fees, no express transfer charges, and no tip prompts.
For a closer feature-by-feature breakdown, see iCash vs other lenders.
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.
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Get a $255 payday loan with iCash. Online approval, same-day funding, no paperwork & clear, regulated fees.... Read more
