GoDay

Smarter Loans Expert Review for GoDay Loans

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

Our Take

GoDay Loans is a long-standing online payday lender in Canada, focused on delivering fast, no-friction access to small-dollar loans. Operating since 2012 and serving over 100,000 customers, GoDay’s value proposition is speed and simplicity. The entire process is digital, approvals are instant, and funding can arrive the same day via direct deposit or Interac e-Transfer.

This is not a lender designed for long-term borrowing or credit building. GoDay is firmly positioned as a short-term solution for unexpected expenses when timing matters more than cost. For borrowers who understand payday loan pricing and need fast access to cash without paperwork, GoDay delivers exactly what it promises.

Who GoDay Works Best For

GoDay is best suited for Canadians who need a small amount of money quickly to cover short-term cash flow gaps. Typical use cases include emergency bills, rent timing issues, car repairs, or avoiding NSF fees when payday is just around the corner.

It can also work for borrowers with imperfect credit, as approval is based more on income and banking history than credit score. With availability across multiple provinces, including Ontario, British Columbia, Alberta, Saskatchewan, New Brunswick, Nova Scotia, and Prince Edward Island, GoDay has broad geographic reach.

GoDay is not ideal for borrowers who need more than $1,500, want longer repayment timelines, or are looking for a lower-cost borrowing solution.

What We Like

The application process is genuinely simple. There are no documents to upload, no faxing, and no in-person steps. Everything is completed online, which reduces friction for borrowers who need speed.

Same-day funding is a major advantage, especially when using Interac e-Transfer. Many users value the instant decision and predictable process, particularly in urgent situations.

We also appreciate the transparency around the model. GoDay does not market itself as a cheap loan or a credit-building product. It is positioned clearly as a payday lender with costs that vary by province and are disclosed before signing.

Where GoDay Could Improve

As with all payday loans, cost is the biggest drawback. Borrowing small amounts for short periods can be expensive compared to other options such as lines of credit, overdraft protection, or low-interest personal loans.

Repayment timelines are short, typically up to two months, which can create pressure if income timing changes. GoDay also does not offer tools for credit improvement or longer-term financial planning.

Borrowers should be cautious about repeat use, as frequent reliance on payday loans often signals a deeper budgeting or cash flow issue.

Is GoDay Right For You?

GoDay can be a reasonable option if you need fast access to a small amount of cash and understand the true cost of payday lending. It works best as a one-time or occasional solution, not an ongoing source of financing.

If you qualify for alternatives such as a line of credit, cash advance app, or installment loan, those options may be more affordable. But if time is critical and flexibility is limited, GoDay offers a straightforward, no-surprises way to access short-term funds quickly.

Alternatives to GoDay

• Eastern Loans
• LendDirect
• Credit Club
• GoDay