Payday Loans in Toronto

online payday loans in Toronto

What Is a Payday Loan?

Payday loans are intended to provide quick financial assistance and are typically repaid on the next payday. When you’re stuck without cash between paydays, consider applying online via OntarioCASH. Even a less-than-ideal credit score will not prevent you from getting approved, as we don’t check your credit score during our online application process. Based on your application details, you may get connected with an online installment lender rather than an online payday lender.

The Cost of Living in Toronto

Toronto is Canada’s second most expensive city, behind only Vancouver. Moreover, 48% of Ontarians call Toronto home. A combination of a severe housing shortage, a high demand for housing, strong population growth, and inflation has driven the cost of living up. Many low-paid and minimum-wage workers are struggling to cover their expenses in Toronto. For Toronto workers to afford comfortably a two-bedroom apartment, they would need to make $40.00 per hour, which is more than double the current minimum wage. The estimated living wage in the Greater Toronto Area exceeds $25.00 per hour, which is nearly $8.00 per hour more than the new minimum wage of $17.20 per hour, set to come into effect on October 1, 2024.

How Payday Loans Can Help

Payday loans can help you cover urgent expenses such as car repairs, medical bills, rent, and more. The online application process is quick and easy, and you will get an immediate response. Apply online via OntarioCASH. Dependent on the details of your application, you may get linked with online installment lenders rather than online payday lenders.

How to Improve Your Financial Health in Toronto

Here are some solid ways to improve your financial health in Toronto:

  • Create a budget. The most famous breakdown is 50% for needs, 30% for wants, and 20% for saving and debt repayment. However, as long as you are conscious of where your money is going, a different breakdown may be more realistic.
  • Save and invest regularly. Consider setting aside a small amount of savings every time you get paid. In this way, you will get in the habit of saving and investing. Consider a tax-free savings account or a Registered Retirement Savings Account. Build your savings and investments incrementally and allow them to grow over time via compound interest.
  • Consider debt consolidation. This will allow you to pay a single monthly payment rather than worrying about multiple different creditors – and quite possibly at a lower interest rate.
  • Monitor your credit score. Sign up for Credit Verify to help improve your credit score and stay on track financially!

How to Obtain Payday Loans in Toronto

To qualify, you need to meet the following criteria:

  • At least 18 years of age
  • Canadian citizen or permanent resident
  • Permanent address
  • Proof of consistent income
  • Must have a valid Canadian bank account that has been active for at least 90 days

To maximize your chances of approval, minimize your NSF transactions and any prior ongoing payday loans or short-term loans.


The exorbitant cost of living in Toronto is a result of a perfect storm of economic and sociological factors. We understand that everyone’s financial situation is different, which is why we don’t check your credit score or credit report during our online application process. Apply online now with OntarioCASH.

Get up to $5,000 in as little as 24 hours

You can get up to $5,000 the same day, 100% online. 

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