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icash loan May 11, 2023

What to Do When Applying for an iCASH Loan

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What to Do When Applying for an iCASH Loan

At some point in your life, you’ve probably experienced some sort of financial hardship. It could have been something as simple as an expensive grocery bill you didn’t expect, or something a bit more major like a car or home repair. Whatever it may be, these types of situations can be stressful, but you shouldn’t have to face them alone.

Thankfully, iCASH has you covered. If you need an emergency loan to deal with life’s unexpected curveballs, we can help. Whether you’re a full-time employee, freelancer, or on any type of government assistance program, you can get approved for up to a $1,500 loan. Today, we will take you through the easy steps of applying with us. So sit back, relax, and read on to discover everything you need to know about applying for an iCASH loan and how it can help you in a time of need.

What is iCASH?

If you’ve never heard of iCASH before, allow us to introduce ourselves! We’re a Canadian-based instant loan lender and over the years, we’ve helped over 850,000 Canadians secure quick loans when they needed them, whether it was to help pay bills or deal with an unexpected financial crisis.

In a nutshell, Canadians love us because not only are our loans very easy to get approved for, but our application process is easy and we send funds via e-Transfer, meaning almost anyone can get the cash they need as fast as possible. We’re also available 24 hours a day, 7 days a week, 365 days a year. Yes, that’s right, that means even during holidays, Canadians can apply for, get approved, and receive a fast loan from us.

How to Apply for an iCASH Loan

First, let’s start with some great news - when you apply for a loan from iCASH, you never have to leave the comfort of your home to do it because everything can be done online. Forget about getting in your car or taking public transportation to go somewhere you’d have to wait in line and fill out tons of paperwork. Do you have an internet connection and either a smartphone or a computer? If you answered yes, you’ve already completed the most important step.

Next, all you need to do is download the iCASH app on your smartphone (available on Apple and Google Play stores) and follow the instructions provided. Alternatively, you can simply create an account on our website and apply there. The step-by-step process is easy to follow and applications will only take a few minutes to complete. You’ll also find out instantly if you’re approved or not, thanks to our intuitive and automatic approval process.

Eligibility Criteria for iCASH Loans

Naturally, when applying for any type of loan, one of the first questions you’ll be asking yourself is if you’ll even be eligible to receive one. It’s an understandable question to have, especially since most banks and traditional lenders have a long list of criteria that needs to be met in order to qualify.

With iCASH, our requirements are much easier to meet, meaning you have a much higher chance of getting approved. The minimum requirements to get a loan with us are:

  • Be at least 19 years of age.
  • Be a resident of a province we serve (AB, ON, BC, MB, NB, NS, PEI)
  • Show that you have been receiving the same income source for the past 3 months (we accept multiple forms of income - see below for a list).
  • Have a net income of at least $800/month.
  • Have access to Interac e-Transfer and a Canadian bank account.

We accept many types of income:

  • Employment Income
  • Child Tax Credit Benefits
  • CPP & Private Pension
  • Unemployment Insurance & Workers Compensation
  • Disability Income
  • Province-specific incomes like ODSP & AISH
  • Other types of welfare support
  • Self-employed income

Common Mistakes to Avoid When Applying for an iCASH Loan

While applying and getting approved for an instant loan from iCASH is easy, there are a handful of small mistakes you should try to avoid to ensure you have the best possible chance of getting approved with us. This includes:

Providing incorrect or incomplete information on your application: Make sure you provide information on your application that is completely accurate. This will avoid any potential delays in processing or even rejection.

Not meeting the eligibility criteria: Again, while many Canadians are likely to be eligible for a loan, it’s best to be sure to double-check the eligibility criteria carefully before applying to ensure you meet all our requirements.

Make sure you understand our fees: We’re proudly transparent about all our fees, interest rates, and repayment options. Take the time to understand them before you completely commit to applying for a loan.

Applying for multiple loans at once: We do not allow iCASH customers to apply for multiple loans at once, because it can harm your credit score and make it difficult to get approved for any loans in the future.

Getting Your Loan After Approval

Congratulations! You've been approved for an iCASH loan - now what happens? Easy, you’ll get your loan via e-Transfer in approximately two minutes. That’s it! If you chose direct deposit when you completed your application, then funds will be deposited into your account within a few hours. The exact timing of the deposit will depend on your bank's processing times.

Repaying Your iCASH Loan

Paying back your loan is very easy because we take care of everything. Based on the number of repayments* you’ve selected, each one will be debited directly from your bank account on your pay date, as agreed upon in your loan agreement. For more information on how repayment works, visit our FAQ.

*Due to government regulations, loans in Ontario and Nova Scotia can only be approved for 1 repayment.


Whether you have questions about the application process, eligibility requirements, or anything else related to our loans, please don't hesitate to get in touch with us. We're here to help you in any way we can! Shoot us a quick email at [email protected] and one of our reps will get in touch with you ASAP!