Trusted by More than 2,000,000 Canadians since 2016

Same Day Loans

  • chGet $500 or more in under 8 hours
  • chRates from 9.99% - 34.99% APR
  • chLenders offering same-day transfers
up Last updated

November 17, 2025

up Written by:

Amy Orr

up Reviewed by:

Jenna West

No matter how well you manage your personal finances, emergencies can happen where your only hope is to find financing – and fast. But modern technology and the prevalence of online lenders mean that same day loans are a popular solution across Canada. With just a few clicks, anyone can get funding in moments by using Smarter Loans.

But not all Canadian cash loans are created equal. That’s why Smarter Loans has compiled a list of the most trusted firms in the industry, shown below. These lenders rank highly in terms of client satisfaction, reliability, and fairness of terms. Most of these companies also offer an online loan application process, so you can expect to learn whether you’ve been approved within minutes.

Use this chart of lenders to understand the available cash loans in Canada, and find one that suits your needs. Once you have compared providers, click “Apply Now” to proceed with the appropriate online application. Or, pre-apply with Smarter Loans, and we’ll match you up with an appropriate lender for your situation.

And to find out everything you need to know about same day loans, read on.

Compare Lenders

AMOUNT
$300 - $35,000
INTEREST RATE
9.99% - 34.95%
TERMS
6 - 84 Months
AMOUNT
Up to $20,000
INTEREST RATE
19.8% - 34.99%
TERMS
36 months
AMOUNT
$1,000 - $5,000
INTEREST RATE
19.9% - 34.5%
TERMS
12 - 36 months
AMOUNT
$500 - $2,500
INTEREST RATE
18.99%
TERMS
Variable
AMOUNT
$500 - $1,000
INTEREST RATE
Varies
TERMS
3 - 6 months
AMOUNT
$30 - $250
INTEREST RATE
0%
TERMS
N/A
AMOUNT
$20-$500
INTEREST RATE
0%
TERMS
N/A
AMOUNT
$150-$1000
INTEREST RATE
30.4% APR
TERMS
30 Days
AMOUNT
$100 - $1,500
INTEREST RATE
$14/$100 borrowed
TERMS
Up to 62 days
AMOUNT
$500 - $150,000
INTEREST RATE
9.99% - 34.99%
TERMS
9 - 240 months
AMOUNT
$300 – $1,500
INTEREST RATE
$14 per every $100 lent
TERMS
Up to 2 Months
AMOUNT
$500 - $25,000
INTEREST RATE
34.56% - 34.95%
TERMS
6 - 84 Months
AMOUNT
$500 - $15,000
INTEREST RATE
34.37%
TERMS
12 - 60 Months
AMOUNT
$100 - $1,500
INTEREST RATE
Varies
TERMS
2 months
AMOUNT
$100 - $1,500
INTEREST RATE
Varies
TERMS
Up to 2 months
AMOUNT
$500 - $10,000
INTEREST RATE
34.99%
TERMS
Open Line of Credit
AMOUNT
$100 – $15,000
INTEREST RATE
34.99%
TERMS
Open Line of Credit
AMOUNT
$100 - $20,000
INTEREST RATE
34.37%
TERMS
6 - 84 Months
AMOUNT
$1,000 – $15,000
INTEREST RATE
19.9% - 34.9%
TERMS
Line of Credit
AMOUNT
Up to $250
INTEREST RATE
0% APR (Has Fees)
TERMS
Varies
AMOUNT
$100 - $1,500
INTEREST RATE
Varies
TERMS
2 months
View More Lenders

Can I Get a Same Day Loan in Canada?


How Do Same Day Loans Work?


faster with express loans

Same Day Loan Terms


Interest Rates

Loan Amount

Fees

  • Origination fees
  • Processing fees
  • Administration fees
  • Early repayment penalties
  • Late payment penalties
  • Legal fees

Make sure you account for the fees your chosen lender charges when calculating how much your funding will cost - especially if you're only borrowing a small sum.

Loan Length

Repayment Terms

Canada.ca.

Same Day Loan Example


emergency

The difference can be seen below:

  • Loan with principal of $10,000 for 1 year, 6% per year - Monthly repayment: $860.66
  • Loan with a principal of $5,000 for 1 year, 21% APR - Monthly repayment $931.14

How to Qualify for a Same Day Loan


  • Being age of majority in the province of residence
  • Holding a bank account with a Canadian financial institution
  • Being able to prove you have a steady source of income

Same Day Loans and Bad Credit


it's possible to get loans with no credit
Empower your financial future and regain control with a bad credit loan. Take the first step towards securing your dreams by applying now!

How to Apply for a Same Day Loan


Step One: Gather Your Documents
  • Government-issued ID
  • A bank account statement
  • A pay stub or other proof of income
  • Proof of address (e.g. a utility bill)
Step Two: Complete the ApplicationStep Three: Sign Loan DocumentsStep Four: Receive Funds

Where To Get a Same Day Loan


online lenders

Choosing a Same Day Loan Provider

  1. Understand your financial position, including how much you need to borrow, what you can afford in terms of repayment, and if you meet any eligibility criteria (e.g. credit score)
  2. Research lenders that offer products that meet these needs
  3. Compare multiple lenders, remembering to look at their rates and fees and how much they'd cost you overall
  4. Once you have found a competitive option, check the lender's reputation - via customer reviews, ratings, complaints, etc. You can also get a good sense of whether a lender is responsible by seeing how transparent they are about their costs
  5. If you're comfortable with the lender's reputation, speak to a customer service agent to get a detailed quote
  • Does not make it easy to find vital information (e.g. interest rates)
  • Does not have basic company details, such as an address or a registration number
  • Charges a fee for application or approval
  • Boasts a 100% loan approval rate
  • Employs sales people that cannot answer your loan questions or who push you to take on a loan

Benefits of Same Day Loans


emergency expenditure

These loans are usually easier to get approved for than a conventional loan from a bank. This gives people with below average credit scores access to funding which they would not get at most traditional banking institutions.

Unlike some other types of loan (e.g. auto loan, student loan, etc.) same day loans can be used for any purpose.

Once an applicant has chosen to apply for a loan, the entire process can happen very quickly. Application is usually simple, and a decision from the lender can happen within minutes. This is in stark contrast to options from other loan providers, where the application and funding process can take days, if not weeks.

The entire process can be completed from the comfort of your own home - an extra benefit when speed is of the essence. The loan can also be tracked online via email or an app (if available).

Risks of Same Day Loans


It is important to understand the total cost of any loan, and to make sure that the repayment amounts can comfortably fit into your budget. As same day loans are short term and urgent in nature, lenders charge more in interest for them than for other types of personal loan, meaning these loans can quickly become very expensive.

When consumers cannot repay their existing loans in full, they are forced to extend them, to give themselves more time to raise the necessary funds. However, this can lead to a never-ending cycle where more money is borrowed in order to repay an outstanding loan - which in turn becomes unaffordable. Make sure you have a repayment plan that pays down the principal of the loan, and not just the interest, and that you can afford it.

Since same day loans are not governed by the same set of regulations that are imposed upon conventional financial institutions, it is possible for lenders to engage in unfair business practices. This ultimately harms borrowers. It is therefore vital to read policies and offer documents carefully, to understand terms, and to ask questions if you are unsure about anything. It's also key to only borrow as much as is needed.

convenient calculator

Same Day Loan Uses


  • Unpaid utility bills (if the utility is going to be cancelled)
  • Assorted expenses when the borrower does not have liquid cash on hand

In a similar vein, businesses might also use fast cash loans for a variety of purposes, such as:

  • Paying off suppliers (when credit terms are almost over)
  • Increasing working capital (to fund day-to-day expenses)
  • Paying unpaid wages (to ensure workers continue working)
  • Repaying unpaid utility bills (if the utility is going to be cancelled)

Same Day Loan FAQs


How can same day loans be paid back?

What can I use a same day loan for?

What is the maximum amount that can be borrowed with a same day loan?

What happens if I miss a payment on my loan?

Can I use a same day loan to repay existing debt?

Can I apply for a same day loan if I have bad credit?

What are the requirements for a same day loan?

Can I get a same day loan online?

Are same day loans the same as payday loans?

Do I need a bank account to borrow money asap?

Pre-Apply for a Same Day Loan Here

Expert Review & Editorial Standards

This page was researched, written, and reviewed by financial professionals with expertise in Canadian lending regulations. All information is regularly updated to reflect current rates, terms, and regulatory changes.

Jenna West
Reviewed By

Jenna West

Financial Writer & Content Director

Jenna has covered the Canadian FinTech and consumer lending industry since 2017. She specializes in regulatory updates, consumer protection, and helping Canadians navigate complex financial products.

  • 8+ years analyzing Canadian consumer lending
  • Monitors FCAC and provincial regulatory changes
  • Specializes in personal loans and alternative lending
Amy Orr
Written By

Amy Orr

Financial Content Specialist

Amy is a financial writer with 10+ years covering Canadian, U.S., and U.K. financial markets. She holds a Masters in Finance from the University of Edinburgh Business School and formerly worked in the hedge fund sector.

  • Masters in Finance, University of Edinburgh
  • Former hedge fund professional
  • Published in major financial publications

About Smarter Loans

Canada's independent lending comparison platform since 2016. Trusted by over 2 million Canadians and recognized by the Toronto Star as "the GPS of FinTech Lending." Featured in the National Post and major Canadian publications.

Verified Lenders Only All lenders verified for proper licensing and regulatory compliance
Editorial Independence Content created independently from business relationships
Regular Updates Content monitored and updated for rate changes and new regulations
2M+ Canadians Served Helping Canadians compare loans since 2016

Our Editorial Process

Every page undergoes research, expert writing, fact-checking, and review by our Financial Content Director. We verify all rates, terms, and regulatory information against official sources including FCAC guidelines and provincial lending regulations.

Last Updated: November 17, 2025 | Next Review: Ongoing monitoring

Awesome G. profile pictureAwesome G.
04:46 26 Feb 25
I’m very honoured to shear my experience with this illustrious platform. To be able to systematically choose from a list optional to one’s profile without doing much leg work is truly rewarding. This platform allowed to expand my options and chose which lenders fit my profile, thank you and continue doing what you do best,, connecting people to available wealth opportunities.
Pat M. profile picturePat M.
03:10 26 Feb 25
Good place to get a loan
Chris “Stufphr” H. profile pictureChris “Stufphr” H.
02:07 26 Feb 25
When you feel in need of a loan do it smart and make it a Smarter Loans.
Dan Bott (. profile pictureDan Bott (.
01:41 26 Feb 25
Very Helpful, was assisted in a timely fashion and was ultimately able to receive assistance; I highly recommend!!!
joel K. profile picturejoel K.
22:59 25 Feb 25
I have recommended this place to many friends I feel that this company goes out of their way to help people that they can and they are very easy to work with
Nate C. profile pictureNate C.
13:22 27 Oct 24
This company is reliable, quick, and just has the best customer service and rates it is a easy process with quick results. Would definitely recommend to anyone that needs the help.
Vincent J. profile pictureVincent J.
07:08 23 Oct 24
Good place for borrowing a bit of money 😁
Kels H. profile pictureKels H.
06:41 23 Oct 24
Personally love this opportunity and app. Super convenient and easy to use and super awesome variety of great loans. Thanks so much guys for making such an awesome site and app and being there for me over the years. :)
Tara H. profile pictureTara H.
16:23 16 Oct 24
From beginning to end, my experience was great! Very professional and personable agents. They only asked questions that were needed for the loan and payments were extremely reasonable. Would recommend to anyone who needs emergency funds.
A S. profile pictureA S.
19:43 11 Oct 24
“ Thank you SO very much! My situation was tricky and you guys made the whole process so effortless. The way you guys handle the whole process so discreetly. That truly speaks to how well your office is run and the caliber of specialists who handled the processing of my entire loan!”

Why Choose Smarter Loans?

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