Cashback Rewards
Earn up to 12% cashback on the cost of borrowing as a repeat customer, a benefit you will not find with cash advance apps or in-store payday loan providers.
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256-Bit
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Alberta
License #341941
24/7
Approvals
2-Minute
e-Transfer
Over 50,000 Albertans
helped in 2025
Key Takeaways
Borrow $100 to $1,500 with iCash, fully online, no storefront visit needed
Flat borrowing fee of $14 per $100, the maximum allowed under Alberta law
Repay in up to 7 installments (minimum 2), depending on your pay cycle, from 42 to 62 days
Funds sent by Interac e-Transfer in as fast as 2 minutes, 24/7, 365 days a year
iCash is fully licensed in Alberta and accepts all types of credit and income, including AISH, EI, and CPP
A payday loan is a short-term personal borrowing option designed to help bridge a temporary financial gap, whether that is a vehicle repair before a long winter drive, an unexpected utility bill during a cold snap, or a household expense that lands between rotations.
In Cold Lake, we offer payday loans ranging from $100 to $1,500 to help when you need money between paycheques. Unlike traditional lump-sum payday loans, we provide an installment repayment structure in Alberta.
That means you can spread your repayment across up to 7 scheduled payments (minimum 2, conditions apply) rather than repaying everything at once on your next payday. This makes managing your budget easier and helps you avoid unnecessary debt, especially when shift schedules or deployment timing leave less room than usual.
The cost of borrowing is $14 for every $100 borrowed. That is a flat fee per loan, not a compounding interest rate. It's also the amount regulated by the Government of Alberta. If you're borrowing from any payday loan company and they charge you more than that amount, they're doing so illegally.
So here's a practical example: if you borrow $500, the total fee is $70 (500 / 100 x 14). Your total repayment would be $570, split across your scheduled installments.
Congratulations! Your loan is approved.
Getting approved for payday loans in Canada with us is simpler than you might expect. The application process is fast and straightforward. Here is what you need to help get started
Be at least 18 years oldBe a resident of any of the provinces in which we operateShow that you have been receiving the same source of income for the past three monthsHave a total net income of at least $800/monthHave access to an online bank account, in which pre-authorized debits can be performed*Have a valid Canadian mobile phone number, address, and email address (VoIP numbers are not accepted)
*Please note that KOHO accounts do not qualify as they do not support pre-authorized debits.
Payday Loans for AISH Recipients
We accept a wide range of income types, including employment wages, self-employment income, CPP and private pensions, Employment Insurance, military pay, disability income, child tax benefits, and provincial programs like AISH (Assured Income for the Severely Handicapped).
Our lending decisions aren't based on a person's score. We believe people are more than their credit score, which is why we're happy to work with Canadians who may not have the best credit.
To learn more about how we work and what to expect, you will find everything you need at What is iCash.
Earn up to 12% cashback on the cost of borrowing as a repeat customer, a benefit you will not find with cash advance apps or in-store payday loan providers.
Refer friends or family and earn rewards. As a customer in Alberta, helping someone you know is easy. See how the Referral Program works.
Rated 4.7 out of 5 on Trustpilot with over 3,000 customer reviews.
Apply, track your loan, and manage repayments right from your phone. Our app is rated 4.8/5 on the Apple App Store and 4.8/5 on Google Play.
We focus on your current income and ability to repay, not just your credit score. We accept all types of credit and a wide range of income sources, including AISH, EI, and CPP.
Cold Lake's economy runs on two pillars: CFB Cold Lake, Canada's largest air force base, and the oil sands operations to the south and east. Both bring stable, well-paying jobs, but both come with their own kinds of unpredictability: deployment cycles, shift rotations, contract gaps, and the long-distance commutes that come with a remote northern location. The cost of goods is also notably higher in Cold Lake than in Edmonton or Calgary, simply because everything has to be trucked further to get here.
That is exactly the kind of situation we were built for: a short-term bridge to help you cover an unexpected expense without falling behind on your bills.
Cold Lake's median household income is $105,000 (Statistics Canada, Table 98-10-0024-01, 2021 Census), well above the provincial average. That figure reflects the stable military and oil-sands wages that anchor the local economy. But that income also has to stretch across the higher cost of living that comes with a remote northern community.
As of early 2026:
Average rent for a two-bedroom apartment in Cold Lake is approximately $1,100 per month, well below provincial averages.
Groceries for an average family run about $520 per month, notably higher than the provincial average due to the city's remote location and longer supply chains.
Cold Lake currently has no public transit service, so nearly all residents rely on personal vehicles.
Total vehicle costs for most working residents run $700 to $1,000 per month (higher than the provincial average), including fuel, insurance, and the longer distances typical of life in northern Alberta.
When your job depends on shift rotations or deployments and your nearest major service centre is a long drive away, even a routine vehicle repair can become a significant short-term expense. That is the kind of gap iCash is designed to bridge.
In 2025 alone, more than 50,000 Albertans turned to iCash for short-term funds.
iCash lends across the Lakeland and eastern Alberta region, not just in the largest centres. iCash also serves Lloydminster, with the same fast, fully online application and same-day e-Transfer funding.
Earn money every time you borrow with iCash! Our unique cashback program is designed to reward you for being a loyal customer and can help you save on future loan payments. After successfully paying off your first online loan, you'll receive 4% of the cost of borrowing credited to your account. You can earn up to 12% depending on how many iCash loans you have repaid.
Have more questions? Check out our full FAQ.
