iCash vs Borrowell
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 | iCash | Borrowell |
|---|---|---|
| Loan Amounts | Up to $1,500 | $1,000 – $35,000 |
| Interest Rates | $14 per $100 borrowed (where applicable) | 5.60% – 29.19% APR |
| Loan Terms | Up to 62 days | 12 – 60 months |
| Credit Required | No minimum credit score | Fair to good credit (620+) |
| Funding Speed | Same day (Interac e-Transfer) | 1 – 3 business days |
| Headquarters | Montreal, Quebec | Toronto, Ontario |
| Founded | 2006 | 2014 |
| Best For | Emergency borrowers who need small amounts fast with any credit score | Borrowers with fair-to-good credit who want low rates and free credit monitoring |
Loan Amounts
iCash
Up to $1,500
Borrowell
$1,000 – $35,000
Interest Rates
iCash
$14 per $100 borrowed (where applicable)
Borrowell
5.60% – 29.19% APR
Loan Terms
iCash
Up to 62 days
Borrowell
12 – 60 months
Credit Required
iCash
No minimum credit score
Borrowell
Fair to good credit (620+)
Funding Speed
iCash
Same day (Interac e-Transfer)
Borrowell
1 – 3 business days
Headquarters
iCash
Montreal, Quebec
Borrowell
Toronto, Ontario
Founded
iCash
2006
Borrowell
2014
Best For
iCash
Emergency borrowers who need small amounts fast with any credit score
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
Pros & Cons
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)
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
Which Lender Should You Choose?
Choose iCash if you're looking for a lender that specializes in emergency borrowers who need small amounts fast with any credit score. They offer loan amounts of Up to $1,500 with funding as fast as same day (interac e-transfer).
Choose Borrowell if you're better described as borrowers with fair-to-good credit who want low rates and free credit monitoring. They offer $1,000 – $35,000 with fair to good credit (620+) 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 iCash or Borrowell better?
It depends on your needs. iCash is rated 3.5/5 and is best for emergency borrowers who need small amounts fast with any credit score. Borrowell is rated 4.3/5 and is best for borrowers with fair-to-good credit who want low rates and free credit monitoring.
Which has lower interest rates?
iCash charges $14 per $100 borrowed (where applicable), while Borrowell charges 5.60% – 29.19% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
iCash: Same day (Interac e-Transfer). Borrowell: 1 – 3 business days.
Other Lender Comparisons
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