Spring Financial 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.
Side-by-Side Comparison
| Feature | Spring Financial | iCash |
|---|---|---|
| Loan Amounts | $500 – $35,000 | Up to $1,500 |
| Interest Rates | 9.99% – 34.95% APR | $14 per $100 borrowed (where applicable) |
| Loan Terms | 6 – 84 months | Up to 62 days |
| Credit Required | All credit types accepted | No minimum credit score |
| Funding Speed | As fast as 24 hours | Same day (Interac e-Transfer) |
| Headquarters | Toronto, Ontario | Montreal, Quebec |
| Founded | 2014 | 2006 |
| Best For | Borrowers looking to build or rebuild credit | Emergency borrowers who need small amounts fast with any credit score |
Loan Amounts
Spring Financial
$500 – $35,000
iCash
Up to $1,500
Interest Rates
Spring Financial
9.99% – 34.95% APR
iCash
$14 per $100 borrowed (where applicable)
Loan Terms
Spring Financial
6 – 84 months
iCash
Up to 62 days
Credit Required
Spring Financial
All credit types accepted
iCash
No minimum credit score
Funding Speed
Spring Financial
As fast as 24 hours
iCash
Same day (Interac e-Transfer)
Headquarters
Spring Financial
Toronto, Ontario
iCash
Montreal, Quebec
Founded
Spring Financial
2014
iCash
2006
Best For
Spring Financial
Borrowers looking to build or rebuild credit
iCash
Emergency borrowers who need small amounts fast with any credit score
Pros & Cons
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
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 Spring Financial if you're looking for a lender that specializes in borrowers looking to build or rebuild credit. They offer loan amounts of $500 – $35,000 with funding as fast as as fast as 24 hours.
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 Spring Financial or iCash better?
It depends on your needs. Spring Financial is rated 4.2/5 and is best for borrowers looking to build or rebuild credit. iCash is rated 3.5/5 and is best for emergency borrowers who need small amounts fast with any credit score.
Which has lower interest rates?
Spring Financial charges 9.99% – 34.95% APR, while iCash charges $14 per $100 borrowed (where applicable). Your actual rate depends on your credit profile.
Which lender funds faster?
Spring Financial: As fast as 24 hours. iCash: Same day (Interac e-Transfer).
Other Lender Comparisons
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