Cash Money

Smarter Loans Expert Review for Cash Money

Reviewed by: Vlad Sherbatov, Personal Finance Analyst at Smarter Loans

Our Take

Cash Money is one of the longest-standing alternative lenders in Canada. Operating since 1992 and serving nearly 1.2 million Canadians, it has evolved beyond a traditional payday lender into a provider of revolving credit through its open-ended line of credit product, while still offering payday loans in most provinces.

What sets Cash Money apart today is choice and flexibility. Borrowers can access either a line of credit up to $10,000 or a short-term payday loan for smaller, immediate needs. Compared to many newer digital-only lenders, Cash Money combines speed and accessibility with a long operating history and a nationwide presence.

That said, Cash Money products are firmly in the non-prime category. They are designed for access and convenience, not low-cost borrowing, and should be used with a clear understanding of the cost structure.

Who Cash Money Works Best For

Cash Money is best suited for Canadians who need quick access to funds and do not qualify for traditional bank credit. The line of credit option is particularly relevant for borrowers who want ongoing access to funds rather than a one-time loan, while still maintaining control over how much they draw and repay.

It can also work well for borrowers with steady income who value speed and flexibility, especially those who may face irregular expenses or timing gaps between paycheques. With minimum income requirements starting at $1,000 per month, eligibility is relatively accessible.

Cash Money is less suitable for borrowers seeking the lowest possible rates, those who already qualify for bank lines of credit, or anyone who struggles with revolving debt discipline. Payday loans, in particular, should be approached cautiously and only for short-term, one-off needs.

What We Like

The biggest strength is flexibility. Cash Money’s open-ended line of credit allows borrowers to access between $500 and $10,000, pay interest only on what they use, and re-borrow as they repay. This structure is more adaptable than fixed installment loans for many real-world situations.

Speed is another major advantage. Approved borrowers can receive funds within 24 hours, and in some cases as fast as 15 minutes via Interac e-Transfer®. For urgent situations, that responsiveness matters.

We also appreciate Cash Money’s long track record in Canada. Operating for over three decades adds a level of familiarity and stability that many newer lenders cannot offer. The availability of multiple products gives borrowers options depending on their needs.

Where Cash Money Could Improve

Cost remains the primary drawback. The line of credit carries an interest rate of 34.99%, which is significantly higher than bank credit products. Payday loans, where available, can also become expensive if used beyond very short-term needs.

Another limitation is credit building. Cash Money does not position its products as tools for improving credit scores, and borrowers should not expect long-term credit benefits from responsible repayment alone.

Finally, while flexibility is a benefit, revolving credit can also be a risk. Borrowers who consistently carry balances may end up paying substantial interest over time. Clear repayment planning is essential.

Is Cash Money Right For You?

Cash Money can be a practical option for Canadians who need fast, flexible access to credit and understand the cost of non-prime lending. The line of credit is especially useful as a financial buffer for unexpected expenses when used responsibly.

However, it should not replace lower-cost borrowing when those options are available. If you qualify for a bank line of credit or installment loan, those will almost always be more affordable.

Cash Money does what it aims to do: provide accessible credit quickly. The key is using it as a short-term solution or safety net, not as a long-term financial strategy.

Alternatives to Cash Money

• Loan Away
• Money Mart
• easyfinancial
• Mogo
• MDG Financial – Expert Review, Ratings & Alternatives
• Spring Financial

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