Cash Today

Asset-secured financing in Alberta

Cash Today is an asset-secured lending company operating in Alberta, Canada. Its offering is aimed at owners of vehicles, recreational vehicles, or equipment that have been paid off in full and can be used as collateral to access financing. The company has two locations in the province, one in Edmonton and one in Red Deer.

Assets that can serve as collateral

The company accepts a variety of goods as collateral, provided they meet eligibility requirements. Among the assets considered are:

• Vehicles: cars, SUVs, trucks, motorcycles, and commercial vehicles.
• Recreational vehicles: boats, motorhomes, campers, tent trailers, quads, ATVs, and snowmobiles.
• Commercial equipment: hauling trailers and other eligible equipment.

The website allows interested parties to select their asset category and preliminarily check whether it might qualify.

Two financing lines

Cash Today structures its offering into two main modalities. The first is personal title loans, in which an eligible personal asset—such as a car, truck, motorhome, or boat—already paid off is used as backing for the financing. The second is commercial financing, which allows the value of an eligible commercial vehicle, trailer, or equipment to be used as security for the business.

The scenarios the company presents include covering unexpected expenses, taking advantage of job opportunities, or giving a business room to maneuver.

Requirements to apply

For asset-secured applications, applicants must meet the following criteria:

• Valid driver's licence.
• The asset must be paid off in full, with no payments owing.
• The asset must have no outstanding liens.
• Valid insurance and registration where applicable.
• Not currently bankrupt or in an active consumer proposal.

The company warns that additional underwriting requirements may apply and vary by collateral type.

Application process

The procedure described by Cash Today consists of three steps. First, the applicant completes an application with personal information and details about the asset they wish to use as collateral. Second, the company reviews the information provided against its underwriting requirements. Third, if the applicant is eligible, they review the available terms before signing any agreement.

Loan calculator and illustrative terms

The site includes a calculator that allows you to estimate the loan amount and term. The tool shows an illustrative example with a requested amount of $5,000, a term of 12 months, an annual interest rate of 34.99%, a GPS/storage charge of $610 financed into the interest-bearing amount, and a lien fee of $55 distributed evenly across the term without generating interest. In that example, the amount financed comes to $5,610, estimated interest to $1,119.20, the estimated monthly payment to $565.34, and the estimated total repayment to $6,784.20.

The company clarifies that this is an illustrative calculation based on declining-balance amortization and that actual terms depend on its underwriting process and are provided before signing. It also states that the calculator does not constitute an application and does not guarantee approval.

Presence in Alberta and licence

Cash Today operates under Alberta's High Cost Credit framework, with licence number 349274. The company notes that the licence does not represent a government endorsement or a guarantee of loan approval. Its two offices are located in Edmonton and Red Deer, and the company presents itself as a sponsor of community initiatives.

Locations and premises

Edmonton location: 16604 109 Ave, Edmonton, AB T5P 1C2 · Phone: 780-756-2274

Red Deer location: #1 7483-50 Avenue, Red Deer, AB T4P 1M5 · Phone: 403-986-8781