iCash vs Spring Financial
A detailed side-by-side comparison of two popular Canadian lenders. See how they stack up on rates, loan amounts, eligibility, and overall experience.
Side-by-Side Comparison
| Feature | iCash | Spring Financial |
|---|---|---|
| Loan Amounts | Up to $1,500 | $500 – $35,000 |
| Interest Rates | $14 per $100 borrowed (where applicable) | 9.99% – 34.95% APR |
| Loan Terms | Up to 62 days | 6 – 84 months |
| Credit Required | No minimum credit score | All credit types accepted |
| Funding Speed | Same day (Interac e-Transfer) | As fast as 24 hours |
| Headquarters | Montreal, Quebec | Toronto, Ontario |
| Founded | 2006 | 2014 |
| Best For | Emergency borrowers who need small amounts fast with any credit score | Borrowers looking to build or rebuild credit |
Loan Amounts
iCash
Up to $1,500
Spring Financial
$500 – $35,000
Interest Rates
iCash
$14 per $100 borrowed (where applicable)
Spring Financial
9.99% – 34.95% APR
Loan Terms
iCash
Up to 62 days
Spring Financial
6 – 84 months
Credit Required
iCash
No minimum credit score
Spring Financial
All credit types accepted
Funding Speed
iCash
Same day (Interac e-Transfer)
Spring Financial
As fast as 24 hours
Headquarters
iCash
Montreal, Quebec
Spring Financial
Toronto, Ontario
Founded
iCash
2006
Spring Financial
2014
Best For
iCash
Emergency borrowers who need small amounts fast with any credit score
Spring Financial
Borrowers looking to build or rebuild credit
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)
Spring Financial
Pros
- Accepts all credit types, including bad credit
- Credit-building program (The Foundation) reports to both major bureaus
- Fast online application with decisions in minutes
- No branch visit required — fully online process
Cons
- Maximum APR of 34.95% for higher-risk borrowers
- Not available for Quebec residents on some products
- Personal loans require minimum income verification
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 Spring Financial if you're better described as borrowers looking to build or rebuild credit. They offer $500 – $35,000 with all credit types accepted 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 Spring Financial 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. Spring Financial is rated 4.2/5 and is best for borrowers looking to build or rebuild credit.
Which has lower interest rates?
iCash charges $14 per $100 borrowed (where applicable), while Spring Financial charges 9.99% – 34.95% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
iCash: Same day (Interac e-Transfer). Spring Financial: As fast as 24 hours.
Other Lender Comparisons
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