GUARANTEED APPROVAL FOR CASH ADVANCES UP TO $500

To get the cash advance, simply subscribe to the Cover bundle¹.

Get a Cash Advance

Interest-Free Cash Advance

Guaranteed Approval

Financial Coaching & Priority Support

Free Credit Report

What is a cash advance?

Whether your car needs surprise repairs or an unexpected bill lands in your inbox, KOHO Cover helps bridge the gap. Available only through the Cover bundle, KOHO Cover is a cash advance without the steep interest rates typically charged by payday loan lenders.

A cash advance usually provides a quick way to borrow money using your credit card, letting you withdraw cash instantly. While convenient, these advances come with higher fees and steeper interest rates compared to regular credit card purchases, making them an expensive alternative to traditional payday loans.

We've designed our online cash advance specifically for Canadians like you who need quick and easy financial support. Our cash advance is available through the Cover bundle, offering this solution that’s more affordable than standard payday loan options in addition to a free credit report and access to financial coaching that can help you take charge of your budget.

No hidden fees, no complicated terms – just straightforward financial support when you need it most.

How does an online cash advance work?

Getting an instant cash advance in Canada has never been easier, simply subscribe to the Cover bundle to get started. Applying for our cash advance loan won't impact your credit score, making it a safe option for all Canadians.

If you don’t already have one, get a KOHO account, then sign up for the Cover bundle.
You'll get access to an instant cash advance when you subscribe to the bundle for as little as $2 / month, with no added interest.
Your subscription also gets you access to a free credit report and financial coaching valued at up to $425.

Have questions? All Cover bundle subscribers will get access to priority customer support.

Zero Interest: No matter how much we spot you, we’ll never charge you interest on your cash advance loan.
Guaranteed Approval: No application process, credit checks, no jumping through hoops.
Borrow up to $500: Access cash advances based on your eligibility.
Instant Access: Get your money immediately through the KOHO app.
Financial Coaching: Get expert advice valued up to $425 to better manage your money.
Free Credit Report: Always see where you stand.

Get started

Compare Cash Advances in Canada

See why KOHO is the smarter choice for your financial needs:

	KOHO	Most Cash Lenders
Interest	0% APR	29%+ APR
Repayment cycle	Anytime	Next Payday
Credit check
Access	Instant	Up to 24 hrs+
Proof of income	None Required	Required
Credit Report
Financial Coaching - Free, up to $425 in value
Priority Support

	KOHO	Most Cash Lenders
Interest	0% APR	29%+ APR
Repayment cycle	Anytime	Next Payday
Credit check
Access	Instant	Up to 24 hrs+
Proof of income	None Required	Required
Credit Report
Financial Coaching - Free, up to $425 in value
Priority Support

COVER MORE THAN CASH

The Cover bundle gets you a cash advance, a free credit report, financial coaching, and more

Check Out Cover Bundle

Join members working on their credit today

Take steps towards your financial goals, and make the most of your savings

The perfect plan for your needs	Essential $0/mo* Over $100/year in value** Get rewarded on everyday spending with Cash Back on the essentialsStart with Essential	Extra $12/mo Over $200/year in value** Get extra perks, extra cash back, and extra savingsSave now with Extra	Everything $14.75/mo Over $500/year in value** Get more than your money’s worth and earn the most rewards on KOHOEarn more with Everything
Benefits
Unlimited Cash Back on groceries, transportation, food & drinks	1%	1.5%	2%
Earn interest	2%	2.5%	3.5%
Free Credit Score
Crypto trading fees	0.5%	0.5%	0.5%
Instant e-Transfers
No Foreign Transaction Fees	-
Discount on Credit Building	-	30%	50%
Phone support

^{*Get Essential for free! Learn more
**This is an estimate. Actual savings may vary depending on individual spending habits and service usage}

Not sure which one speaks to you? Take our quiz to find the best plan for you.

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FAQFrequently Asked Questions

A cash advance gives you instant access to funds to cover emergency expenses, or unexpected purchases, like a car repair, or a pet emergency. Typically, you need to repay the funds by a set date. Most cash advances charge interest, but with Cover, you’ll never have to pay interest¹. ¹Access to Cover is subject to a subscription to the paid Cover bundle

At KOHO, we're committed to supporting your financial flexibility with Cover. We keep things simple by not performing credit checks for approval, giving you quick access to funds and financial coaching when you need them most. While we aim to help you get back on your feet, it's important to know that loans outstanding for more than 3 months may be reported to credit bureaus at our discretion. By staying on top of your repayments, you can maintain a positive financial track record and make the most of our supportive service.

A cash advance is a short-term loan that helps cover unexpected expenses until your next paycheck arrives. For a small fee, you can get quick access to funds when you're in a tight spot.

With the KOHO Cover bundle, you get access to extra cash when you need it. The bundle includes a cash advance to cover payments and prevent declined transactions, personalized advice from a certified Financial Coach, and a Credit Report. All of that for as little as $2 / month with no added interest. After you sign up we’ll add the cash advance that you selected straight into your KOHO account for you to use right away. Your Cover balance is displayed separately from the other money in your account. You can use the cash advance for everyday purchases, to pay bills, or even set up automatic payments. But your Cover balance can’t be sent via e-Transfer, K2K (KOHO-TO-KOHO), or added to your Vault. There are no penalties or late fees, but if you don’t repay the borrowed money you may not be able to use the Cover bundle again in the future.

You can use Cover to make everyday purchases like paying bills, setting up automatic payments and avoiding declined transactions when your Spendable reaches $0. You can’t use it for sending e-Transfers or K2Ks, adding money to your Goals or Vault, or Earning interest (since Cover is a cash advance).

Everyone! All users who sign up for the Cover bundle will get instant access to funds! You also get a free credit report and support from a financial coach. Over time, you can unlock a higher limit bundle. While our system automatically determines your eligibility, you can help your chances of an increase by regularly using your KOHO Spendable account and paying your monthly fees on time.

A cash advance fee is a small charge that you pay for borrowing money before your next paycheck.

Cash advance is a small amount of debt without any interest. Pay your full monthly subscription fee on time so you don't have any debt to worry about.

The main difference between a loan and a cash advance is their purpose. Loans are generally taken out for larger or more long-term financing necessities, like paying college fees or buying a vehicle. A cash advance is typically designed for more short-term or emergency situations. Often cash advances have higher interest rates than a loan, but with Cover, you won’t have to pay any interest!

If you are eligible to increase your Cover amount, we’ll let you know. There are some things you can do to increase the likelihood of a higher Cover limit: continue to make use of KOHO for everyday spending, and repay your monthly Cover fees on time. Using other KOHO features like Credit Building, and paying bills from your account can help too. Good things come to those who wait. Our support team cannot grant higher amounts upon request.

That depends on the individual using Cover, but the limit gets as high as $500. Our automated system determines your eligible Cover limit based on your KOHO account history. You may qualify for different maximum coverage amounts as you continue to use KOHO. To change your limit in-app, go to > Cover > in the upper right corner click on the settings icon > tap on Change my Cover limit. Once you update your limit, the change will take effect immediately and a new billing date will be set. If the option to unlock a higher limit isn't visible to you, this means you've already reached your maximum available Cover limit. While you can’t request a higher limit, these actions may improve your eligibility for increased Cover limits (however, increases aren't guaranteed): -Pay your bills: Use your KOHO account to handle your regular bill payments -Make payments on time: For Cover, and other KOHO tools you’re subscribed to -Pay for your memberships: Use your KOHO account for gyms, and other recurring membership payments -Keep money in your account: Maintain a positive balance in your KOHO account Important to know: Our support team cannot manually adjust Cover limits.

The KOHO Cover bundle fee starts as low as $2 and varies based on the amount of the cash advance among other benefits, visit the KOHO app to know more!

Yes. You can use Cover to make everyday purchases, setting up automatic payments and avoiding declined transactions when your Spendable hits $0.

Yes, so long as you are buying from an online store. You can use Cover for making everyday purchases online and avoiding declined transactions when your balance reaches $0. You can’t use your Cover balance for e-Transfers, K2K (KOHO-TO-KOHO) transfers, or to add money to your Vault.