Cashback Rewards
Repeat borrowers earn up to 12% cashback on their borrowing fees, a perk that is not available through cash advance apps or traditional in-store payday lenders.
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Need a payday loan in Thunder Bay? With iCash, you can borrow up to $1,500 from your phone, tablet, or computer and receive your funds by e-Transfer the same day. There is no paperwork to deal with, no storefront to visit, and no waiting. iCash is fully licensed to lend in Ontario.
256-Bit
SSL Secured
Ontario
License #4733142
24/7
Approvals
2-Minute
e-Transfer
Over 90,000 Ontarians
helped in 2025
Key Takeaway
iCash gives Thunder Bay residents access to a fast, fully online payday loan, available around the clock. Choose a loan amount between $100 and $1,500, get a decision in seconds, and receive your funds by e-Transfer in minutes. The entire process is handled through our secure platform.
A payday loan provides short-term funds to help you manage an urgent expense before your next paycheque arrives. These loans are smaller and faster than traditional bank products, and they are built for moments when timing is the issue, not the amount you need to borrow.
Through iCash, you can access between $100 and $1,500 depending on your income and eligibility. Ontario payday loans are structured as a single repayment on your next payday. If you are taking out your third loan within 63 days, you may be eligible for more than one repayment.
iCash uses a straightforward fee of $14 per $100 borrowed. That is the total cost. There are no additional charges, no compounding interest, and no surprise fees at any point during the process. This rate is the maximum allowed under provincial regulations in Ontario.
Every cost is laid out before you sign your contract, so there are no surprises. If you borrow $300, for instance, your total repayment comes to $342: the original $300 plus $42 in borrowing fees. That same $14-per-$100 ratio applies whether you borrow $100 or $1,500.
Congratulations! Your loan is approved.
To apply for a payday loan with iCash, you need to meet the following requirements
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 ODSP Recipients
Income does not have to come from a single traditional job. iCash accepts employment wages, self-employment income, CPP and private pensions, Employment Insurance, disability benefits, child tax benefits, and provincial programs such as ODSP (Ontario Disability Support Program).
iCash conducts a one-time credit check on your first loan application. All subsequent loan applications are exempt from any credit check. A less-than-perfect credit score does not disqualify you. What matters most is your income and whether you meet the basic requirements.
Repeat borrowers earn up to 12% cashback on their borrowing fees, a perk that is not available through cash advance apps or traditional in-store payday lenders.
Earn rewards by referring friends or family through the iCash Referral Program. When someone you refer applies and is approved, you both benefit.
More than 1 million Canadians have borrowed through iCash. On Trustpilot, iCash holds a 4.7 out of 5 rating. See what real customers are saying.
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.
iCash does not turn borrowers away because of a low credit score. All types of credit are accepted, and returning borrowers skip the credit check entirely.
Thunder Bay built its prosperity on forestry and grain, the mills and the port that moved Western Canada's harvest east, and both have contracted sharply over the decades, leaving an economy that has had to reinvent itself around health care, education, and government services. Its remoteness compounds everything: the nearest large city is hours away, so the cost of goods, fuel, and services runs higher than in southern Ontario, and the choices are fewer. When a household here hits a financial gap, the combination of higher prices and limited local options can make a small shortfall feel much larger.
The cost of living in Thunder Bay is lower than in the GTA or Ottawa. But so is the median household income, at approximately $80,000 per year (Statistics Canada, Table 98-10-0024-01, 2021). And in a smaller community, there are fewer employers, fewer income options, and fewer places to turn when a financial gap opens up.
Rent: $1,100
Groceries: $750
Transit: $92.60 (monthly pass, adult)
Average consumer debt load: $22,955 (Equifax Canada, Ontario average)
Renters as share of households: about 30% (Statistics Canada, 2021 Census)
With an unemployment rate of 5.9% (Statistics Canada, Labour Force Survey, Thunder Bay CMA) and a rent-to-income ratio of 16.50%, the challenge is not that costs are extreme. It is that there is less cushion when something goes wrong, and in a remote city, the price of groceries and essentials runs higher than the rent figure alone suggests.
In 2025 alone, more than 90,000 Ontarians turned to iCash for short-term funds.
iCash lends across Northern Ontario, not just in the largest centres. iCash also serves Sudbury, 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.
