Want to know more about CoolCash? Below you’ll find answers to your most important questions.


Want to know more about CoolCash? Below you’ll find answers to your most important questions.

General Questions

What is the best way to contact us?

You should be able to find most of the information you are looking for on our website. If our website does not answer all of your questions, you can email us at

What steps must I take to extend my loan repayment period?

In order to request an extension on your loan repayment date, you must contact us in person, via phone or email, no later than 12 p.m. on the scheduled day of repayment. (Extension of loan is not guaranteed).

About Our Loans

What is the CoolCash app?

The CoolCash app is a mobile app aimed at making short term lending as easy and accessible as possible.

What are the requirements to get a CoolCash loan?

To be approved for a CoolCash loan you must meet all of the following requirements:

Be at least 18 years old
Be an employed resident of Ontario, Canada
Have a mobile phone
Have an active Canadian bank account
Have an active Facebook account

Do I require a credit check?

Yes, all applicants require a credit check. You may still be eligible for a loan even with bad credit.

We reserve the right do credit checks on repeat applicants.

How much does a CoolCash payday loan cost?

The total amount you pay depends upon the amount you borrow and the time period in which you repay the loan. The shorter your loan period, the less you pay.

How quickly will I get notification if I am approved for a CoolCash loan?

You will receive notification within 15 minutes of submitting your completed loan application. This process, however, may take longer depending on your application details.

How quickly will I receive my loan?

You will receive your loan within 30 minutes of being approved, however there may be delays, due to your bank’s hours of operation, weekends, or bank holidays.

Loan Application Process

How do I apply for a loan?

You can apply for a loan by downloading the CoolCash app on your mobile device and submitting a completed application.

Will I be guaranteed to receive future CoolCash loans if I have been approved before?

Being approved for a CoolCash loan does not guarantee automatic approval for future loans – however repeat customers can enjoy a quicker application process and shorter processing times.

How soon can I apply for new CoolCash loan?

Once we receive all of your active CoolCash loan repayments in full, you may submit another application.

Managing your account

How do I create an account?

Once you download the app, you will be asked to log in.  To register, log in with your active Facebook account (more platforms coming soon).

How is my information being secured?

All uploads of your identification information during application will be stored in your account. Please refer to ‘Privacy Policy’.

Managing your loan

Where can I view the status of my CoolCash loan?

Once you log on to the app, you can view the status of your loan through the ‘Loan Summary’ section of the ‘Loan Control Panel’.

How do I repay my CoolCash loan?

Once you have provided us with your bank account/card payment details, simply ensure that you have sufficient funds in the specified account to repay the loan on the due date. We will directly debit the funds from your account or charge your card on the agreed payment date.

Can I repay with someone else's account/card?

You cannot repay your account with someone else’s account or card. If you wish to make alternate payment arrangements, please contact us.

What happens if I am late with a payment?

If you miss a payment or believe you may be late with a payment, contact us at  as soon as possible and one of our trained representatives will work with you to address your situation.

What happens if I cannot repay my loan?

CoolCash Canada practices responsible lending and encourages responsible borrowing. If you fail to repay your loan, interest will continue to accrue on a daily basis at the rate prescribed in the loan agreement/daily rate applicable (0.5%/0.1667% daily for payday/term loans respectively), until the maximum cost of borrowing has been reached.  Note, failure to repay your loan will result in a negative report to the credit bureau and your debt being handed over to a debt collection agency at any time point after your loan defaults.