Payday Loans
Are you in a pinch for some quick cash but cannot get a loan due to bad credit? A payday loan
can help. In these challenging economic times, Canadians are often faced with short-term cash needs between paycheques. Fortunately, there are lending companies willing to help Canadians with
payday advances online, providing fast, instant cash loans.
What is a payday loan?
A payday loan, also known as a cash advance loan, is simply a short term loan to assist an individual who is running short of cash between paycheques. There are no credit requirements, since your job or fixed income provides the security for the loan.
Quite simply, if you meet the five simple criteria listed below, you should have no problem whatsoever in getting the money you need.
How do I obtain a payday loan?
The process is simple: After you fill out a quick application, your information is verified and the cash is deposited into your bank account.
How much can I borrow?
You can typically borrow $100 - $500.
How long do I have to wait for the money?
Often a payday loan
can be granted within 24 hours and sometimes you can even get your money on the same day that you apply.
How do I repay the loan, and when?
When you receive your next paycheque, the loan is automatically repaid, along with the transaction fee.
Can I request more than one payday loan at a time?
Only one advance at a time is allowed. Upon receiving a bank confirmation report that your previous advance payment has cleared (normally 3 to 5 business days), you may request another advance.
How do I qualify for a payday loan?
To obtain a payday loan
in Canada, you must meet all five of the following specific criteria:
You must be 18 years of age or older
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You must be a resident of Canada
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You must have a valid chequing account that has been open for at least the last three months
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You must have a current job that you have been working at for at least three months or a fixed-payment income source (such as a disability cheque)
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You must have take-home pay of at least $800 - $1,000 per month
Apply now for a payday loan
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