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The 5 Best Payday Loan Providers in Toronto

The 5 Best Payday Loan Providers in Toronto

  • Credentials – We checked the agency's credentials as a legitimate provider.
  • Loan service – We assessed the overall experience through the types of loans offered and the loan term options.
  • Process and duration – An efficient and timely process is crucial for loan agencies, considering clients may need it urgently or within a period.
  • Client support – We expect the agencies to provide ample support and customer services for any concerns and queries.
  • Price – We listed loan agencies with reasonable and justifiable interest rates and other fees.

Sometimes, life throws you a financial curveball – maybe your car decides it wants a spa day at the mechanic, or those bills are playing hide-and-seek with your paycheck. Now, we get it; adulting can be tough.

But fear not! A squad of payday loans is ready to be your financial superheroes. Plus, we’ve done the legwork, listing the cream of the crop – the best payday loan providers in Toronto, just for you!

1. Pay2day

Pay2day's Homepage

Services: Payday loans, online loans, cheque cashing, home equity loans, prepaid cards


Address: 622 Yonge St, Toronto, ON M4Y 1Z8; more locations

Contact Details: 647-748-7729; [email protected] 

Operating Hours: Monday – Saturday: 7:00 AM – 11:00 PM; Sunday: 9:00 AM – 9:00 PM

Google reviews score4.9/5
Loans Canada reviews score5/5
Trustpilot reviews score 4.7/5
Total reviews5/5
Score consistency 4.9/5
Credentials 5/5
Loan service4.5/5
Process and duration5/5
Client support5/5
Price (A higher score means better value)5/5
Interest rate5/5
Other fees5/5


  • Has 24/7 funding via e-transfer
  • Quick and easy transactions
  • Friendly and accommodating team
  • Has a mobile app


  • Has a loan limit of only $1,500

What we like most about Pay2day is their swift approval process; unlike the waiting game with some other lenders, their transactions are quick and straightforward. From what we’ve seen, you can get an E-transfer within one hour of applying for the loan.

We also think it’s convenient that their funding game is on a 24/7 joyride through E-transfer – no need to check your watch. Plus, bonus points for the convenience of keeping tabs on your account with their handy mobile app. 

It’s also worth mentioning that their interest rate is around the national average—about $15 for every $100 you borrow, keeping it reasonable. On the downside, they only allow loans up to $1,500, so if you’re thinking big, it might not work for larger payday loans.

Another thing we appreciate is their overall customer service. Many have raved about the friendly staff, particularly for those still figuring out the loan and interest rate dance, which helps them at a relatively vulnerable and overwhelming time.

All in all, we think that Pay2day can be a reliable go-to provider for your payday loans, especially when the time’s ticking or you need cash pronto. And there’s no need to stress over bad or no credit since they’re still open to approving your loan.

2. Cash 4 You

Cash 4 You's Homepage

Services: Payday loans, installment loans, cheque cashing, and Western Union transfers


Address: 1542 Jane St Suite 2, North York, ON M9N 2R5; more locations

Contact Details: 416-246-9998

Operating Hours: Monday – Friday: 10:00 AM – 7:00 PM; Saturday: 9:00 AM – 5:00 PM

Google reviews score4.8/5
TrustAnalytica reviews score5/5
Trustpilot reviews score 4.9/5
Total reviews5/5
Score consistency 4.8/5
Credentials 5/5
Loan service4/5
Process and duration5/5
Client support4.5/5
Price (A higher score means better value)5/5
Interest rate5/5
Other fees5/5


  • No prepayment penalties
  • Unbiased approvals
  • Provides quick and on-the-spot payouts


  • Doesn’t have 24/7 services 

One thing we appreciate about Cash 4 You is the convenience they give to their clients. 

For a payday loan, people can visit any store—no forms, no hassle—since their staff handles everything, making the process smooth and straightforward.

We also like that they don’t judge clients by their credit scores. So, as long as you’re 18 or older, earning at least $250 per day, employed, and have an active bank account, you’re good to go.

As far as payment goes, we think it’s great that clients can also have the option to pay off the loan early without any penalty. When it’s time to repay, they can deposit it or simply drop by the store for a cash or debit move.

But we’re a bit bummed that their services aren’t 24/7, and they don’t have an independent app to help clients monitor their accounts from time to time. 

Although, we like how their physical stores can easily be visited for a no-nonsense experience since Cash 4 You is quick on the draw when it comes to service.  

Nonetheless, we have to give props to Cash 4 You for providing quick and on-the-spot payouts without a hitch. In addition, we think it’s great that they offer other loans where clients can borrow up to $15,000.

3. Cash Cowboy Payday Loans

Cash Cowboy Payday Loans' Homepage

Services: Loans: personal, home equity, small business, auto, debt consolidation


Address: 100 King St W Suite #5700, Toronto, ON M5X 1C7

Contact Details: +1 888-516-3113

Operating Hours: Monday – Saturday: 24 hours

Google reviews score4.7/5
Facebook reviews score5/5
Total reviews4/5
Score consistency 4.9/5
Credentials 5/5
Loan service4/5
Process and duration5/5
Client support4/5
Price (A higher score means better value)4.5/5
Interest rate5/5
Other fees4.5/5


  • Has a 95% approval rate
  • Served over 14,000 satisfied clients
  • Speedy application process


  • Can improve communication for follow-up concerns
  • Has a limit of $1,500

Now, let’s talk Cash Cowboy Payday Loans – they’re a certified and licensed company catering to clients in British Columbia and Ontario. We also learned that you can snag up to 50% of your net pay until payday. 

We’re also impressed by their track record of successfully serving over 14,000 satisfied clients. Plus, we’re glad to know that they have a 95% approval rate, so the chances of getting that loan are high!

On that note, we’re pleased with their consistency with their application process, which is usually wrapped up in 15 minutes. Once they’ve got all the details, the approval process kicks into gear, taking somewhere between one to three hours.

However, we’re a bit iffy after hearing reports suggesting a lack of urgency in addressing follow-up concerns at Cash Cowboy Payday Loans, especially with updating fully paid accounts. We suggest you call them first thing or visit the actual store to get it resolved quickly.

Just a heads-up: they have a lending limit set at $1,500, and their primary focus is on payday loans. So, those exploring larger loan options or different financial avenues, might be better off considering other lenders. 

Overall, we believe that Cash Cowboy Payday Loans stands out as a solid pick, offering a high likelihood of getting payday loans approved. 

4. Xcash Money Solutions

Xcash Money Solutions' Homepage

Services: Payday loan, unsecured personal loan, home equity loan, invoice factoring


Address: 3768 Bathurst St #206, Toronto, ON M3H 3M7

Contact Details: 416-633-2408; [email protected] 

Operating Hours: Monday – Friday: 9:00 AM – 6:00 PM; Saturday: 9:00 AM – 5:00 PM

Google reviews score4.5/5
Facebook reviews score4.7/5
Yably review score4.5/5
Total reviews5/5
Score consistency 4.6/5
Credentials 5/5
Loan service5/5
Process and duration4.5/5
Client support4.5/5
Price (A higher score means better value)4.5/5
Interest rate5/5
Other fees4/5


  • Has an easy online application process
  • Has a portal for clients
  • Provides multiple loan options


  • Slightly higher interest rates

Moving on to Xcash Money Solutions – they’re known for offering swift solutions to financial hiccups. We like that they provide both unsecured and secured loans; one of their notable offerings is their payday loans for workers.

We also found it neat that they have a range of options, like personal loans, equity loans, and even some tailored for caregiving and gold. It gives clients more room to work with if, in case, a payday loan isn’t enough for their situation.

Another thing we found useful is their loan management portal, wherein you can easily manage your payday loan. Clients can view your loan history, payment dates, interest payments, and more—a great way to keep an eye on accounts, eh?

On top of that, we are also satisfied with their application process since it’s designed to be efficient and won’t take too much time. Many clients have found it quick to apply for a payday loan through their online platform, making it easy to get the cash you need ASAP. 

Lastly, we must mention that clients must contact XCash by phone or in person to discuss their rates and arrangements, as this information isn’t available online.

And while some customer feedback we noted mentioned they might be on the pricier side, we think their efficient solutions and services are noteworthy. 

5. Mr. Payday Easy Loans Inc.

Mr. Payday Easy Loans Inc Homepage

Services: Payday loans, cash advance


Address: 2 Bloor St W #700, Toronto, ON M4W 3R1

Contact Details: 416-613-0210

Operating Hours: Monday – Thursday: 1:00 PM – 9:00 PM, Friday: 12:00 PM – 10:00 PM; Saturday: 2:00 PM – 7:00 PM 

Google reviews score4.3/5
TrustAnalytica reviews score4.3/5
Loans Canada reviews score4/5
Total reviews5/5
Score consistency 4.2/5
Credentials 5/5
Loan service3/5
Process and duration5/5
Client support5/5
Price (A higher score means better value)5/5
Interest rate5/5
Other fees5/5


  • Verifies information electronically
  • Provides same-day funding
  • Accepts many types of income


  • Some complaints with payment terms
  • Slightly stricter loan requirements than other companies

In our books, what’s noteworthy about Mr. Payday Easy Loans Inc. is that they accept almost all types of income. We think this aspect is especially great for people without a regular job, making their services accessible to more folks, no matter where their money comes from. 

Based on our research, they also accept income from child tax credit benefits, unemployment insurance, private disability insurance, CPP and private pension, and workers’ compensation. 

We also like that Mr. Payday Easy Loans Inc. has a responsive staff. So, those who aren’t sure if their income can be considered can simply call and ask.

Here’s another nifty part we noticed – there’s no need to deal with fax machines since they keep it hassle-free by verifying their clients’ info electronically. Plus, their application form is secure and a breeze to fill out, taking just a few minutes to fill out.

And speaking of speed, we appreciate that they offer a same-day funding service, meaning money can be transferred in their clients’ bank accounts in as little as 30 minutes. Plus, Mr. Payday Easy Loans Inc. gives updates via email! 

However, we were quite concerned about some reports about how their inconsistent payment terms have troubled past clients with their loans. We think clients might be able to avoid experiencing the same issue by thoroughly discussing all details with them. 

Overall, we commend Mr. Payday Easy Loans Inc. for being on the ball with speedy transactions. In our books, their system is a real game-changer, especially when life throws urgent curveballs. 

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