Skip payday loans. Get up to $500 instantly.

Get the Cover bundle—no payday loan rates, plus tools to build better financial habits.¹

Get a Cash Advance

Zero Interest, 0% APR

Borrow up to $500

Instant approval

Repay Anytime

Why choose the Cover bundle instead of a conventional payday loan?

Need cash today? Get Cover with KOHO. No payday loan needed.

No credit check

Your credit score won’t be affected, and past credit issues won’t be standing in your way.

Zero interest, zero hidden cost

What you borrow is what you pay back.

Instant access to funds

Get money right away—no paperwork, no proof of income required.

Break the debt cycle—and get the support to stay ahead

The Cover bundle helps you move forward, not fall behind like payday loans. Thanks to a subscription that includes financial coaching and tools to help you get and stay ahead.

How Payday Loans Work in Canada

Borrow: $100
Pay back: $115-$125
Time: Just 2 weeks
Real cost: 400-600% APR

Can't pay? They take it from your account anyway, triggering overdraft fees and forcing you to borrow again.

How the Cover Bundle Works

Get up to $500 starting at $2/month with no interest, PLUS financial coaching, fast-lane support, and your free Credit Report to help you better control your money.

Getting started with the Cover bundle is quick and easy. All you need is a KOHO account in good standing.

Apply for a Payday Loan Alternative

1. Choose Your KOHO Plan

Start by picking the plan that works best for you. All plans give you access to the Cover bundle.

Apply for a Payday Loan Alternative

2. Activate the Cover bundle in the app

Once you've subscribed to a plan, you can sign-up directly in the app with just a few taps.

Apply for a Payday Loan Alternative

3. See your approved amount

You'll instantly see how much you qualify for—usually between $20 and $500—plus access to your financial coaching, priority support, and credit monitoring. Your eligibility is based on your account activity and spending patterns.

Apply for a Payday Loan Alternative

4. Access the funds and tools right away

The money will be directly deposited into your KOHO account. Use it to make purchases or pay bills.

Compare Cash Loans in Canada

See why KOHO is the smarter choice for your financial needs:

	KOHO	Most Cash Lenders
Interest	0% APR	29%+ APR
Repayment cycle	Anytime	Next Payday
Credit check
Access	Instant	Up to 24 hrs+
Proof of income	None Required	Required
Credit Report
Financial Coaching - Free, up to $425 in value
Priority Support

	KOHO	Most Cash Lenders
Interest	0% APR	29%+ APR
Repayment cycle	Anytime	Next Payday
Credit check
Access	Instant	Up to 24 hrs+
Proof of income	None Required	Required
Credit Report
Financial Coaching - Free, up to $425 in value
Priority Support

What our customers say about Cover

I’ve been with KOHO for about 6 years now I’ve had such a great experience with them, love all the new features that have come of them! The credit building, cover me funds, a day early deposit & the interest this all comes in handy on days I need it most. -Barry

I loved that when I thought I had no funds in my regular banking account, I remembered that I had just received my KOHO card a week earlier. So I decided to try my cover, not sure if it was actually going to work, to put gasoline in my vehicle. I was so amazed because I was able to treat my children some takeout! Thank you -Melissa

4.8 App Store Rating

2.5M+ Happy Customers

#1 Rated Canadian Financial App

Read our reviews

Online payday loan alternative across Canada

Need fast cash? The Cover bundle is available in every province, from B.C. to Alberta, Ontario to Québec, New Brunswick to Nova Scotia and P.E.I.

FAQFrequently Asked Questions

It’s a short-term loan that gives you instant cash. They often have a short pay-back window, of around 2 weeks or at your next paycheque. They can be an expensive way to borrow, with high fees and interest.

It varies across Canadian provinces and with each lender. Sometimes the lender will do a credit check and ask for proof of income. So it can be tricky to get one if you don’t have a job or you have low credit.

You can apply on a lender’s website or app. To get Cover, head to the KOHO app and apply in minutes. You’ll get same-day cash, guaranteed.

With Cover, an alternative to a payday loan, we don’t ask for a credit check, which is super helpful if you’re new to Canada or you have low credit.

If you’re new to Canada or in-between jobs, you might need some extra cash. Unlike many payday lenders, you don’t need to be employed to get Cover, our pay advance.

You can with Cover. We know sometimes everyone needs extra cash in a pinch. So we’ve made it easy to borrow. No credit check needed.

Payday loans are regulated in many provinces, so there is a maximum amount you can borrow.

To protect yourself, check what’s allowed in your province, and always use a licensed lender with a loan agreement.

Many lenders will give you the money within 24 hours of applying. With Cover, you get a same-day loan.

Payday loans are usually not reported to credit bureaus in Canada. But, if you don’t pay back your loan, the lender may sell your loan debt to a debt collector. They could report this debt to a credit bureau which could hurt your credit scores.

With Cover, we’ll never sell your debt and the loan won’t impact your credit scores.

Learn more about Payday Loans

Explore our blog

8 min read

Why Canadians Live Paycheque to Paycheque

Are bank’s standard practices harmful or helpful? We dove behind the scenes of overdraft protection and payday lending so you don’t have to.

4 min read

What is a Payday Loan?

Payday loans give quick cash but come with very high fees and risk.

4 min read

Different Types of Loans You Can Get

Common loan types include personal, student, auto, mortgage, and lines of credit.

¹Access to Cover cash advance requires subscription to paid Cover Bundle

KOHO
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