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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Cash Advantage

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About lender

Cash Advantage, operating in Victoria, BC since 1996, offers cash advances and payday loans to borrowers in need. With a focus on personalized service, Cash Advantage distinguishes itself from larger lenders by prioritizing customer satisfaction over scale. Staffed by friendly and experienced individuals, Cash Advantage aims to assist customers in financial jams with respect and understanding.

Cash Advantage


  • Easy Application. Customers can easily apply for credit card cash advances, merchant cash advances, payday loans, and title loans through a streamlined application process.

  • Fast Approval. With a commitment to efficiency, Cash Advantage strives to provide fast approval for applicants, ensuring swift access to funds when needed.

  • Bad Credit Accepted. Unlike traditional lenders, Cash Advantage is willing to consider applicants with less-than-perfect credit histories, providing an opportunity for individuals facing financial challenges.

  • Cash Advances, Payday Loans, and Title Loans Offered. Cash Advantage provides a diverse array of lending options, including cash advances, payday loans, and title loans, catering to various financial situations and needs.

Pros and cons


No Credit Checks. Cash Advantage offers financial solutions without the need for extensive credit checks, making it accessible to individuals with varying credit histories.

Quick Approval. With a focus on efficiency, Cash Advantage provides quick approval for loan applications, ensuring prompt access to funds for customers in need.

Easy Application. The application process with Cash Advantage is straightforward and user-friendly, simplifying the borrowing experience for customers.


High-Interest Rates. One downside of Cash Advantage is the potential for high-interest rates associated with their loans, which can lead to increased repayment costs over time.

Operates Only in BC. Cash Advantage currently operates exclusively in British Columbia, limiting its availability to residents of other provinces.

Risk of Vehicle Loss with Title Loans. For customers opting for title loans, there's a risk of losing their vehicle if they fail to repay the loan according to the agreed terms, posing a potential financial risk.


Cash Advantage appears to be a reliable lending institution, as they operate under License # 49960. This license suggests that they are authorized and regulated by the appropriate governing body, which helps ensure compliance with relevant laws and regulations governing lending practices. However, it's always wise for individuals to conduct their own research and due diligence before engaging with any financial institution to ensure it meets their specific needs and standards of reliability.

How to apply for a Cash Advantage loan

  1. Visit the Website. Open your web browser and navigate to the Cash Advantage website.

  2. Click "Apply Now". Once on the website homepage, locate and click on the "Apply Now" button or link. This will typically be prominently displayed on the website.

  3. Enter Income Information. Fill out the required fields with information about your income. This may include details such as your income status, monthly income, and any other relevant financial information.

  4. Confirm Residence in BC. Confirm whether you currently reside in British Columbia.

  5. Enter Loan Amount. Input the desired loan amount that you are requesting from Cash Advantage. This should be the amount of money you wish to borrow.

  6. Provide Personal Information. Enter your personal details, including your full name, residential address, length of time at your current residence, and Social Insurance Number (SIN). Ensure all information provided is accurate and up-to-date.

  7. Answer Additional Questions. Respond to any additional questions or prompts asked during the application process. For example, you will be asked if you have taken out a payday loan with any other lender in the last three months. Provide accurate answers to these questions.

  8. Click "Next". Once you have completed all the required fields and provided the necessary information, click on the "Next" button or similar prompt to proceed to the next step of the application process.


  • Loan Amount. Cash Advantage offers loans based on a percentage of your net pay, with new customers eligible for a maximum of $300 and repeat customers potentially qualifying for up to $1500.
  • Repayment Schedule. Loans from Cash Advantage are due to be repaid in full on the borrower's next payday.
  • Late Payment Fees. If a payment is received after the due date and the Pre-Authorized Debit (PAD) bounces, borrowers are subject to a $20 Non-Sufficient Funds (NSF) fee from Cash Advantage. Additionally, the borrower's bank may charge an NSF fee of up to $50. Annual interest rate continues to accrue on the unpaid balance at a rate of 30% per annum until fully repaid.
  • Annual Percentage Rate (APR). Cash Advantage's Annual Percentage Rate (APR) can be as high as 391.07% per year.


  • Source of Income. Applicants must have a reliable source of income to qualify for a loan from Cash Advantage.
  • Active Bank Account. A valid and active bank account is required for loan disbursement and repayment.
  • Age Requirement. Applicants must be at least 19 years old or older to be eligible for a loan from Cash Advantage.
  • Canadian Residency. Borrowers must be residents of Canada to qualify for a loan.
  • Minimum Employment Duration. Applicants are typically required to have a minimum of three months of continuous employment.
  • Online Bank Request. Applicants may need to provide 90 days of banking history through online bank requests.
  • Personal References. Cash Advantage may require applicants to provide four personal references.
  • PAD Authorization. Borrowers are usually required to authorize Pre-Authorized Debit (PAD) payments for loan repayment.

Ways to receive the money

You will typically receive the borrowed amount through an email money transfer, which provides instant access to the funds. This method ensures quick and convenient disbursement of the loan amount directly to your bank account, allowing you to access the funds immediately for your financial needs.


  • Payday Loans. These are short-term loans typically due on the borrower's next payday. Borrowers can receive cash advances to cover immediate expenses, such as bills or purchases.
  • Title Loans. With title loans, borrowers can use their vehicle's title as collateral to secure a loan. This allows individuals to access funds based on the value of their vehicle, providing fast cash when needed.

Reasons you may be denied a Cash Advantage loan

  • Insufficient Income. If your income is insufficient to cover the loan amount, including interest charges and additional fees, Cash Advantage may reject your application.
  • Unstable Employment. Cash Advantage may deny your loan if you have a history of frequent job changes or unstable employment.
  • Outstanding Debt. If you have outstanding debt with other creditors or payday lenders, Cash Advantage may view you as a higher risk borrower and deny your loan application.
  • Recent Bankruptcy. If you have recently filed for bankruptcy, Cash Advantage may deny your loan application due to the associated risks.
  • Previous Loan Default. If you have previously defaulted on a loan with Cash Advantage or another lender, you may be denied future loan applications.

How to repay a Cash Advantage loan

  1. On Your Payday. Ensure that you have the necessary funds available in your bank account on your payday to repay the loan.

  2. Initiate E-transfer. Use your bank's online banking platform or mobile app to initiate an E-transfer to Cash Advantage.

  3. Specify Loan Amount. Specify the loan amount that you are repaying in the E-transfer payment.

  4. Confirm Payment. Review the payment details carefully and confirm the E-transfer payment to Cash Advantage.

Editorial opinion

Cash Advantage offers a straightforward solution for individuals seeking to manage their finances effectively. As a payday lender, it provides short-term loans, allowing borrowers to quickly access funds to pay bills or cover unexpected expenses without undergoing a credit check. While borrowers should be mindful of the potential for interest accrual and annual fee, Cash Advantage presents itself as a viable option, especially for those with no good credit. With competitive rates and transparent terms, it stands out amidst expensive alternatives, offering lower interest rate and providing a seamless transaction process. In most cases, borrowers can benefit from this convenient advance, making it a preferred choice for those looking to manage their spending effectively while fulfilling immediate financial needs.


Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Verify that the lender is registered with the appropriate regulatory authorities in Canada, such as the Financial Consumer Agency of Canada (FCAC), or is licensed to operate in your province.
  2. Check if the lender is a member of reputable industry associations in Canada, such as the Canadian Bankers Association (CBA) or the Canadian Lenders Association (CLA).
  3. Thoroughly review all terms and conditions outlined in your loan agreement. Understand the repayment schedule, interest rates, fees, and any penalties for late payments or defaults.
  4. Ensure that the contract clearly states the annual percentage rate (APR) and the total cost of borrowing, including any administrative fees or additional charges.
  5. Familiarize yourself with your rights regarding loan cancellation or early repayment. Canadian consumers have the right to cancel a loan within two business days after signing the agreement, without penalty.
  6. Research the lender's reputation by checking customer reviews, complaints, and feedback on reputable online platforms, as well as through resources provided by organizations like the Better Business Bureau (BBB).


At Finanso, we've carried out a comprehensive analysis of over 70 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional resources

  • iCash Customer Reviews



What is Cash Advantage?

Cash Advantage is a payday lender that offers short-term loans, allowing individuals to access cash advances to pay bills or cover unexpected expenses.

How quickly the funds can be received?

The funds from Cash Advantage can typically be received quickly, often on the same day or within one business day of loan approval.

How do you qualify for Cash Advantage?

To qualify for Cash Advantage, individuals usually need to meet certain criteria such as having a source of income, an active bank account, and being of legal age. Additionally, Cash Advantage does not require a credit check, making it accessible to those with varying credit histories.

How much can you borrow from Cash Advantage?

The amount you can borrow from Cash Advantage depends on factors such as your income and creditworthiness. New customers may qualify for lower loan amounts, while repeat customers may be eligible for higher loan amounts, typically ranging from a few hundred dollars up to a few thousand dollars.

Is Cash Advantage a legitimate company?

Yes, Cash Advantage is a legitimate company that offers financial services such as a cash advance and short-term loan. It operates within the regulations set forth by the governing authorities and provides transparent terms and conditions to its customers.

We don’t have hundreds of stores, or giant call centres staffed by robots. What we do have are friendly, knowledgeable, smiling staff that operate on a single premise: to exceed our customers’ expectations.

© Cash Advantage
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