Borrowell vs iCash
A detailed side-by-side comparison of two popular Canadian lenders. See how they stack up on rates, loan amounts, eligibility, and overall experience.
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
Full Review →Side-by-Side Comparison
| Feature | Borrowell | iCash |
|---|---|---|
| Loan Amounts | $1,000 – $35,000 | Up to $1,500 |
| Interest Rates | 5.60% – 29.19% APR | $14 per $100 borrowed (where applicable) |
| Loan Terms | 12 – 60 months | Up to 62 days |
| Credit Required | Fair to good credit (620+) | No minimum credit score |
| Funding Speed | 1 – 3 business days | Same day (Interac e-Transfer) |
| Headquarters | Toronto, Ontario | Montreal, Quebec |
| Founded | 2014 | 2006 |
| Best For | Borrowers with fair-to-good credit who want low rates and free credit monitoring | Emergency borrowers who need small amounts fast with any credit score |
Loan Amounts
Borrowell
$1,000 – $35,000
iCash
Up to $1,500
Interest Rates
Borrowell
5.60% – 29.19% APR
iCash
$14 per $100 borrowed (where applicable)
Loan Terms
Borrowell
12 – 60 months
iCash
Up to 62 days
Credit Required
Borrowell
Fair to good credit (620+)
iCash
No minimum credit score
Funding Speed
Borrowell
1 – 3 business days
iCash
Same day (Interac e-Transfer)
Headquarters
Borrowell
Toronto, Ontario
iCash
Montreal, Quebec
Founded
Borrowell
2014
iCash
2006
Best For
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
iCash
Emergency borrowers who need small amounts fast with any credit score
Pros & Cons
Borrowell
Pros
- Free Equifax credit score for all users
- Among the lowest APRs for non-bank lenders (from 5.60%)
- AI-powered personalized financial product recommendations
- Over 2 million Canadian users — well-established platform
Cons
- Requires fair to good credit (620+ score recommended)
- Not ideal for borrowers with poor or no credit history
- Personal loans not available in all provinces
iCash
Pros
- No minimum credit score requirement
- Same-day funding via Interac e-Transfer
- Simple online application — no documents needed upfront
- Trust Rating System rewards returning borrowers with higher limits
Cons
- Maximum loan amount is only $1,500
- High cost of borrowing compared to traditional loans
- Short repayment terms (up to 62 days)
Which Lender Should You Choose?
Choose Borrowell if you're looking for a lender that specializes in borrowers with fair-to-good credit who want low rates and free credit monitoring. They offer loan amounts of $1,000 – $35,000 with funding as fast as 1 – 3 business days.
Choose iCash if you're better described as emergency borrowers who need small amounts fast with any credit score. They offer Up to $1,500 with no minimum credit score credit requirements.
Still unsure? Apply through 365 Loans to compare offers from both lenders and more — with no impact on your credit score.
Frequently Asked Questions
Is Borrowell or iCash better?
Borrowell is best suited to borrowers with fair-to-good credit who want low rates and free credit monitoring, while iCash is best suited to emergency borrowers who need small amounts fast with any credit score. The better option depends on your credit profile and borrowing needs.
What are the interest rates for Borrowell vs iCash?
Borrowell charges 5.60% – 29.19% APR, while iCash charges $14 per $100 borrowed (where applicable). Your actual rate will depend on your credit profile and the specific loan product you qualify for.
Which lender has faster funding — Borrowell or iCash?
Borrowell offers funding in 1 – 3 business days, while iCash provides funds in same day (interac e-transfer).
Other Lender Comparisons
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