Apply for a Line of Credit Loan with Cash Money

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Cash Money Line of Credit

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    What is a Line of Credit?

    A line of credit is a flexible way to borrow. Apply once and borrow within your comfort zone, up to your loan limit. Funds are available on an ongoing basis, and the loan stays open as long as you need. Borrow, pay back, and borrow again. You pay interest only on funds you use.

    Get $$ as needed

    Ongoing access to a credit
    limit up to $10,000

    Pay interest only on
    funds used

    Why Use a Personal Line of Credit?

    For bumps in your financial road, a personal line of credit could help bridge the gaps.

    Line of Credit Loan for financial hardshipsFinancial Hardships
    Line of Credit Loan for short on cashShort on Cash
    Line of Credit Loan for surprise expensesSurprise Expenses

    How is a Line of Credit different from a Payday Loan?

    Both line of credit and payday loans are high-cost loans that could help in an emergency. A payday loan provides a small amount of money to pay back on your next payday. With a line of credit, you apply once and have continuous access to funds.

    Line of Credit

    • Ongoing access to a credit limit up to $10,000.

    • Has an "open-ended" term, which means it stays open as long as you are using it. Your loan will only be closed at your request or if you don't use it for one full year.

    • Loans accrue daily interest on the outstanding principal balance.

    • You can access money (up to your credit limit) without having to reapply.

    Payday Loan

    • One-time loan amount up to $1,500.

    • The loan term depends on your next payday. Terms can range from 7 – 30 days.

    • Cost a flat fee for the amount borrowed.

    • If you need more money you have to apply for a new loan.

    Learn Morelearn more

    How it Works

    1

    Apply

    Apply online, in-store, or give us a call at 1-877-526-6639.

    2

    Verify Income
    Provide documentation to verify your income. EI and disability are accepted.

    3

    Get a Decision & Sign Documents
    Receive a fast lending decision and sign your loan agreement, if approved.

    4

    Get Funded
    Choose the amount you would like to withdraw initially (up to your approved credit limit) and get your cash.

    5

    Make Payments

    Set up AutoPay and never worry about missing a payment again. You can still make extra payments to save on interest paid. Or you can make manual payments.


    6

    Access More Funds
    Receive money at any time with additional cash advances up to your credit limit.

    What Do I Need to Apply?

    • cash money application check markAge 18 or older
    • cash money application check markValid ID
    • cash money application check markSteady source of income
    • cash money application check markOpen chequing account
    • cash money application check markPhone number
    apply for personal line of credit

    Common Line of
    Credit Questions

    It depends on your needs. If you need a small sum of money to get you by until you get paid, a payday loan is probably the loan for you. If you need a larger amount of money or ongoing access to money, then a line of credit is probably a better fit.
    As often as you need! As long as you have available credit and have been keeping up with your scheduled payments, you can borrow up to your credit limit. Keep in mind if your account has a $0 balance and inactivity for a full year, it will be closed, but you can always apply for a new loan later if needed.
    To save time and energy, you can simply set up AutoPay for your loan payments. With AutoPay, you won't have to worry about late or missed payments. If you want to change your due date or make an extra payment, you can do it without skipping a beat. Or you can make manual payments online, in-store or over the phone.

    We're proud to offer loans to Canadians with various credit scores. Your credit score is only one of many factors we consider when processing applications.

    Is a Line of Credit Right for You?

    Check out our FAQs page for more resources.

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    • Loan availability and loan amounts vary by location. Cash-based services such as money orders, money transfers, the ability to pick up cash or make a payment with cash at the branch vary by location. Visit the store finder page at www.cashmoney.ca/find-a-store for each branch’s list of services.
    Lending decisions and funding times are subject to system limitations.
    15-minute funding available only when using Interac e-Transfer® (up to $10,000). Payments and funding via Interac e-Transfer are subject to bank processing times, bank participation, and system limitations, including daily send limits. Interac e-Transfer is a registered trade-mark, and the Interac logo is a trade-mark of Interac Corp. Used under licence.
    Lines of Credit: Loan maximum of $10,000, based on a completed application, net pay, and other qualification requirements, as well as customer verification, including a credit check. Payments are due on scheduled income deposits. Cash Money offers personal loans and is not a credit repair service. APR/Annual Interest Rate 46.93%. BC Licence #83707.
    Auto Equity Loan: Loan maximum of $10,000. APR 34.99% - 46.93%, based on a completed application, net pay, and other qualification requirements, as well as customer verification, including a credit check. Security search and lien fee is $50. Payments are due on scheduled income deposits. Cash Money offers personal loans and is not a credit repair service.
    †Cash Money reports Auto Equity Loan payment history to Equifax® Canada credit bureau so it can help build your credit if used responsibly. Building credit is accomplished by paying all your bills on time every month. Late payments, missed payments, or other defaults on your account may be reflected in your credit report and may impact your ability to build credit.
    ‡Loan Protection: Must be 18 years of age or older and under 70 years of age to be eligible. The optional Loan Protection Plan is a Credit Group Insurance Plan Underwritten by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company.
    Payday Loans are high-cost loans. Loan amounts are subject to net pay and other qualification requirements. Promotional rates not available in Alberta, Manitoba, or New Brunswick.
    British Columbia Residents: The maximum charges permitted in British Columbia for a Payday Loan is 15% of the principal. We charge $15 per $100 borrowed. On a $300 loan for 14 days, the total cost of borrowing is $45, with a total payback amount of $345 and an APR of 391.07%. BC License #50066.
    Manitoba Residents: The maximum allowable charge for a payday loan is 17% of the principal amount of the loan. We charge $17 per each $100 loaned. Sample loan on a $300 loan for 12 days, the cost of borrowing is $51, the total that must be repaid is $351, and the APR is 517.08%. To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 1-204-945-3800, 1-800-782-0067 or visit https://www.gov.mb.ca/cp/cpo/.
    Newfoundland Residents: The maximum allowable cost of borrowing under payday loan agreements in Newfoundland and Labrador is $14 per $100 borrowed. We charge $14 per each $100 borrowed. On a $300 loan for 14 days, the total cost of borrowing is $42, with a total payback amount of $342 and an APR of 365.00%. License #21-23-CA291-1.
    Nova Scotia Residents: The cost of borrowing is $15.00 per $100 on a $300 loan for 14 days (391.07% APR).
    Ontario Residents: The maximum allowable cost of borrowing per $100 borrowed in Ontario is $15. We charge $15 per $100 borrowed. On a $500 loan for 14 days, the cost of borrowing is $75, with a total repayment amount of $575 and an APR of 391.07%.
    Saskatchewan Residents: The maximum allowable cost of borrowing under payday loan agreements in Saskatchewan is $17 per $100 borrowed. We charge $17 per each $100 borrowed. On a $300 loan for 14 days, the total cost of borrowing is $51, with a total payback amount of $351 and an APR of 443.21%.
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