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Spring Financial payday loans: costs, licences and review

Editorial rating 5.0/5 · How we rate lenders

Last reviewed November 10, 2026 by the Koke editorial team.

Spring Financial is a Vancouver-based online lender offering instalment loans of $500 to $35,000 at 9.99% to 34.95% APR over 6 to 84 months, available in every province including Alberta. Applications are fully online, funding comes by e-Transfer, and the stated minimum credit score is about 550.

Last reviewed November 10, 2026

Spring Financial at a glance

Provinces served
Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Saskatchewan
Apply
Online, Phone
Borrow
$500 to $35,000
Repay within
—
Loan type
Instalment loan
Cost per $100
$14.00
On $500 for 14 days
$70.00 fee · $570.00 total
Annual rate on that example
365.0%
Money arrives
Same day (Interac e-Transfer or direct deposit, stated between same day and a few business days)
Credit check
Hard credit check: “A credit check is required; the stated minimum score is about 550”
If a payment bounces
—
If you pay late
—
Support hours
—

Is Spring Financial licensed where I live?

Spring Financial is not a payday lender, so it doesn’t hold payday-loan licences. The rows below are the provinces it says it serves. Lenders charging over 32% are licensed separately as high-cost credit lenders in some provinces, including Alberta and British Columbia; the Verify link goes to the same regulator, where you can search that register too.

ProvinceLicence numberStatusRegulatorChecked on
Alberta OK Verified Service Alberta and Red Tape Reduction · Verify
British Columbia OK Verified Consumer Protection BC · Verify
Manitoba OK Verified Manitoba Consumer Protection Office · Verify
New Brunswick OK Verified Financial and Consumer Services Commission (FCNB) · Verify
Newfoundland and Labrador OK Verified Digital Government and Service NL · Verify
Nova Scotia OK Verified Service Nova Scotia (Consumer Affairs) · Verify
Ontario OK Verified Ministry of Public and Business Service Delivery and Procurement (Consumer Protection Ontario) · Verify
Prince Edward Island OK Verified Island Regulatory and Appeals Commission / Consumer Services · Verify
Saskatchewan OK Verified Financial and Consumer Affairs Authority (FCAA) · Verify
Apply now Visit Spring Financial’s website

Apply now opens Koke’s application page, which sends your answers to our matching partner LeadScout. It may match you with Spring Financial or with other lenders. Koke may be paid for referrals and for clicks to lender websites; that never changes our rating. Disclosure

Borrowing $500 for 14 days at $14.00 per $100 costs $70.00. You’d repay $570.00 on Tuesday, November 24. As an annual rate, that’s 365.0%. Try your own numbers

How Spring Financial works

Spring writes fixed instalment loans of $500 to $35,000 over 6 to 84 months, handled entirely online and by phone with e-signatures, so there’s no branch to visit anywhere in Canada. Rates run 9.99% to 34.95% APR depending on your credit, with a stated minimum score around 550 and minimum income of $2,000 a month. Approved loans are sent by e-Transfer, sometimes the same day.

What to watch

If you don’t qualify, Spring often pitches “The Foundation”, a credit-builder plan where you make payments first and receive savings later, not a loan, and some reviewers say they didn’t understand that distinction. Be clear which product you’re signing. The Better Business Bureau grades Spring poorly while Trustpilot and Google reviews are largely positive; the pattern in complaints is sales pressure, so take a day before signing anything.

What we like

  • Serves every province, entirely online, with e-Transfer funding
  • Rates start below 10% APR for stronger credit profiles
  • No prepayment penalty if you pay the loan off early

What to watch

  • Declined applicants are often offered a "credit builder" product that releases no money up front
  • Asks for personal references and a workplace contact
  • A D grade from the Better Business Bureau, though Trustpilot and Google reviews are strong

Where Spring Financial lends

Other licensed lenders in Alberta

Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.

Cash Money

5.0/5

Cost per $100
$14.00
Borrow up to
$1,500
Funding
Next business day
Apply
Online and in-store

Licence verified AB, BC, MB, NB, NL, NS, ON, SK

Apply now Read review

A payday loan isn’t your only option. See lower-cost alternatives

Reviewed by Trust Pilot, Accredited Financial Counsellor Canada® on November 10, 2026. Our editorial standards

Sources

Update log

  • — Profile published from public sources. Licences listed as stated by the lender; register check by Koke pending.

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$500
Most a payday loan can cost
$70
You’d pay back
$570

Based on the $14 per $100 legal maximum. Lenders can charge less, never more.

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