1. What is a Payday Loan?
A payday loan is basically a short term cash loan that is used by individuals to cover unexpected expenses such as a car repair, medical bill, or even a speeding ticket. Payday loans for bad credit are supposed to be paid back in 30 days over your next 2-3 pay cheques. It is not recommended to use payday loans as a long-term solution.
2. What are the minimum requirements to receive a loan?
- You must be 19 years of age or older with a valid ID.
- You must have a steady job / source of income.
- You must be a Canadian citizen
- You must be able to receive money via direct deposit
4. How do I apply for a payday loan?
To get started, simply fill out our quick and secure online application form. After submitting the application, you will receive an instant notification of approval or rejection. If approved, one of Canada’s top lenders will contact you by phone and email to confirm your application.
5. What fees are involved?
Your lender will charge you a fee that will vary depending on the amount of your cash advance loan. Your lender will work directly with you and provide you the exact fee for your loan at the time your application is accepted. The fee will vary per province, but the maximum cost per loan will be a flat fee of $23 per $100 borrowed.
6. How much money can I borrow?
Customers may apply for up to $1500. It is important to note that not all lenders can provide up to $1500.