{“menuItems”:[{“label”:”Is Cash Central in Canada?”,”anchorName”:”#is-cash-central-in-canada”},{“label”:”6 loans like Cash Central in Canada”,”anchorName”:”#6-loans-like-cash-central-in-canada”},{“label”:”How does Cash Central compare?”,”anchorName”:”#how-does-cash-central-compare”},{“label”:”How to decide which Cash Central alternative is right for you”,”anchorName”:”#how-to-decide-which-cash-central-alternative-is-right-for-you”}]}Cash Central is a US-based lender that offers payday and installment loans. It’s upfront about its rates and terms, and if US residents apply at a store, they could receive the loan within the same day.But like other payday loan lenders in both the US and Canada, Cash Central charges high fees resulting in APRs exceeding 500% in some cases. Pay advance apps are typically a cheaper alternative, as they typically don’t come with interest or fees on what you borrow, which can help you avoid a cycle of debt.Since Cash Central only operates in the US, we’ve rounded up this list of Canadian alternatives including pay advance apps, payday loans and installment loan options. These alternatives come with features like lower fees, same-day funding and Interac e-Transfer depending on the type of loan.Is Cash Central in Canada?No, Cash Central is not available in Canada. In order to apply for a Cash Central loan product, you’ll need to have a Social Security number, which you can only have if you’re a US citizen, permanent resident or temporary resident.6 loans like Cash Central in CanadaHere are 6 Cash Central alternatives you can apply for in Canada.Alternative for fast pay advance: NybleAlternative for account-linked pay advance: KOHOAlternative for installment loans: LoansLoans.caAlternative for emergency loans: GoDayAlternative for fast payday loans: iCASHAlternative for in-store payday lender: Cash MoneyAlternative for fast pay advances: Nyble
Nyble Credit Line
$30 – $150
Loan amount
Starting at 0%
APR
Flexible
Term
The Nyble pay advance app lets you borrow between $30 and $150 interest-free and with no credit check, making it a cheaper alternative compared to Cash Central. Get your funds within 3 business days or pay a small fee to get it within 30 minutes.
Your limit can increase up to $500 for repeat borrowers
No credit check required
More affordable than payday loans
Membership fee of $4.99 – $7.99 per month to keep the app active
Small loan amounts only
Fee charged for fast money transfers
Loan amount
$30 – $150
APR
Starting at 0%
Term
Flexible
Interest Rate Type
Fixed
Fees
$4.99 – $7.99/month membership fee
Origination Fee
$2.99 – $5.99
Turnaround Time
Within 30 minutes if you pay a fee of $2.99 – $5.99 or within 3 business days if you don’t want to pay a fee.
Alternative for account-linked pay advances: Koho
KOHO Save
4%
Interest Rate
$0
Account Fee
$0
Transaction Fee
KOHO offers Instant Pay, which allows you to access up to 50% of your pay for every day you work with no interest charge. However, to qualify for Instant Pay you’ll need to sign up for a KOHO savings account with active payroll deposits and get your employer to share payroll information with KOHO.
No interest
Free for employer to sign up
Cheaper than a payday loan
Fast access to funds
Your employer must sign up for it
Min. Age
18
Account Fee
$0
Transaction Fee
$0
Interac e-Transfer Fee
$0
NSF Fee
$0
Alternative for installment loans: LoansLoans.ca
$300 – $1,000
Loan amount
28% – 32%
APR
3 – 12 months
Term
Like Cash Central, LoansLoans.ca offers fast short-term installment loans with no credit check. NCR Financial, the company that operates LoansLoans.ca, has been in business for over 15 years and is registered in Quebec.
Apply online and get approval within one hour
Interest rates can reach as high as 32%
Services: All of Canada (except Manitoba)
Small loan amounts between $300 and $1,000
The broker fee can be as high as $300
Loan amount
$300 – $1,000
APR
28% – 32%
Term
3 – 12 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
Late payment fee (2.66% per month), $45 NSF fee, broker fee up to $300
Origination Fee
$300
Turnaround Time
Receive funds in less than 24 hours
Serviced Provinces
All of Canada (except Manitoba)
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. If you’re experiencing financial hardship call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.
Alternative for emergency loans: GoDay
GoDay Payday Loan
$100 – $1,500
Loan amount
1 – 62 days
Loan Term
2 minutes
Min. Turnaround Time
GoDay offers payday loans you can apply for and get approved for within minutes. Once approved, loan funds can be transferred within minutes. Like Cash Central, GoDay offers payday loans, allowing you to borrow up to $1,500 at a time.
4.5/5 stars based on over 2,400 Trustpilot reviews
Get loan funds via e-transfer
Apply and get funding 24/7
Very expensive APR
Can easily trap customers in a cycle of debt
Only available in AB, BC, MB, NB, NS, ON, PEI, SK
Loan amount
$100 – $1,500
APR
Varies by province
Term
Up to 62 days
Min. Turnaround time
As little as 2 minutes with INTERAC e-Transfer®
How to apply
OnlineIn Store
Credit Check
Yes
Alternative for fast payday loans: iCASH
iCASH Payday Loan
$100 – $1,500
Loan amount
7 – 62 days
Loan Term
2 minutes
Min. Turnaround Time
iCASH provides quick funding and accepts non-employment income. You can get e-Transfer funding in as little as 2 minutes after approval. iCASH provides payday loans similar to what Cash Central offers.
4.7/5 stars based on over 2,300 Trustpilot reviews
Get money within an hour
Get funded 24/7
Payday loans are expensive
Short repayment terms
Only available in AB, BC, MB, NB, NS, ON, PEI
Loan amount
$100 – $1,500
APR
Varies by province
Term
7 – 62 days
Min. Turnaround time
As little as 2 minutes with INTERAC e-Transfer®
How to apply
OnlineIn Store
Credit Check
Yes
Alternative for in-store payday lenders: Cash Money
Cash Money Payday Loan
$100 – $1,500
Loan amount
5 – 40 days
Loan Term
15 minutes
Min. Turnaround Time
Through its payday loans, Cash Money offers similar loan amounts and interest rates compared to Cash Central. Get instant approval and funding in as little as 15 minutes when you apply with Cash Money.
Instant decisions
Fast access to funds
Established lender with A+ Better Business Bureau rating
Not available in all provinces
High cost of borrowing
Loan amount
$100 – $1,500
APR
Varies by province
Term
5 – 40 days
Min. Turnaround time
As little as 15 minutes with INTERAC e-Transfer®
How to apply
OnlineIn Store
Credit Check
Yes
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs as they may vary from our results.
Province
Maximum allowable cost of borrowing
Alberta, British Columbia, New Brunswick, Ontario & Prince Edward Island
$15 per $100 borrowed
Manitoba, Saskatchewan & Nova Scotia
$17 per $100 borrowed
Newfoundland and Labrador
$14 per $100 borrowed
Quebec
Limit of 35% annual interest rate (AIR)
How does Cash Central compare?Cash Central offers payday loans and installment loans in the 22 states across the US where it’s licensed to operate. US residents can apply online or at a retail location with funding as soon as the same-day. That said Cash Central payday loans comes with very high rates – sometimes exceeding 500% APR.Pros24/7 online applicationMany years in the industryUpfront about payday loan feesOffers loan refinancingConsHigh volume of BBB complaintsTypical APR of 500% or moreOnly available in the StatesHow to decide which Cash Central alternative is right for youBecause Cash Central isn’t available in Canada, it’s important to decide which Canadian alternative lender is the right fit for your needs.You’ll first need to decide what type of loan to apply for based on how much money you need. If you only need a small loan to tie you over to the next payday, a 0% interest pay advance from an app like Nyble might be your cheapest option.If you need to borrow a larger amount and you have bad credit, consider an installment loan from a lender like LoansLoans.ca.Because they’re one of the most expensive loan options on the market, and can easily trap borrowers in a cycle of debt, it’s usually best to only use payday loans as a last resort. If you do opt for a payday loan, consider reputable lenders like GoDay and iCASH, which offer online applications for up to $1,500 with loan funding within minutes of applying.
