- What is a payday loan?
A payday loan is a small, short-term loan that is meant to be paid back on your next payday. They are beneficial when needing to cover important or emergency costs that would otherwise cause financial burden and stress if not covered.
- How do I get a payday loan?
In order to get a payday loan with us, there are a few qualifications that you should take into account:
- You have been working at the same employer for at least the past three months
- You have a bank account showing history and pay deposits for the last two months
- You are at least the age of majority in your province or territory
- You are making at least $500 on a biweekly or semimonthly basis
- You have a working phone number that you can be reached at
- What if my credit is not good?
No need to worry! We do not weigh your credit standing heavily on our decision to grant you a loan. We look mainly at your bank history and base the amount you can qualify for on that.
- How much can I borrow?
As a first time customer, you can get up to $300 online. Returning customers can get up to $1000 depending on their customer standing with us.
- How long does the application process take?
It usually takes about 30 minutes to get a response. Although, depending on how busy it is at any specific time, it may take longer. Upon approval, though, you can receive the money by email money transfer within 30 minutes as long as you deal with one of the five major Canadian banks, PC Financial or Prospera Credit Union.
- How can I send you my bank statement?
The easiest way to send us your bank statement is to use our faxless utility. After filling out the application, you will have the option to download this program and take screenshots of your online banking statements. Alternatively, you can install software called “CutePDF” and save your bank statement as a PDF file. Once you save your bank statement as PDF file, you can attach it to email and email it to us. You can also fax it to us. All the instructions will be sent to you in an email after you fill out the online application.
- How do I get the funds?
If you bank with one of the five major banks in Canada (RBC, TD, CIBC, Scotia and BMO), PC Financial or Prospera Credit Union, you can receive an Interac Email Money Transfer within 30 minutes from the email being sent. If you bank with any other bank or credit union, you will have to wait two business days for the payment to be wired to your bank account.
- Do I need to fax anything?
You aren’t required to fax anything unless you prefer that method of providing your documentation. You can use our faxless utility to take screenshots or scan and email your documentation to our customer service email address: click here to email customer service.
- What are the qualifications to get a cash loan?
Please review the “Requirements” section of our website.
- What documentation do I need to send?
Please review the “Requirements” section of our website.
- When do I pay back the loan?
You will have to pay back the loan on your next payday.*
- How do I refer someone to get a loan?
All you have to do is find someone you know that is in need of a payday loan. You can then refer them to our website from your customer page by imputting that person’s name and email address at which point they will receive a referral link that they will have to use to apply. They must be approved and accept our payday loan in order for them to be called a referral and for you to start qualifying for your $20 referral bonus.
- When do I get my referral bonus?
You will get your first referral bonus after the person you referred pays back their first loan.
- How many people can I refer?
You can refer as many people as you want. You can only refer each person once.
- What happens if I miss a payment?
If your payment comes back due to any reason (ie. NSF, stop payment, funds not cleared, etc.), you will be charged a penalty which will be added to your total balance. You will also be charged interest daily that will accrue onto your total balance. If you know that your loan repayment has been returned by your bank, contact us immediately with payment arrangements to avoid any proceedings on your file.
- How do I increase my credit limit?
In order to increase your credit limit with us, you must develop a good history of paying us back. Usually upon paying us four times, you can increase your limit by $50 or more at a time.
- Why was I denied?
There could be a number of reasons you were denied. The usual reasons for being denied are: insufficient pay, providing false information or documents, negative bank activity, etc.
- What if I’ve gone bankrupt before?
As long as you haven’t gone bankrupt within the past year, you can still be approved for a payday loan with us. Remember, we do not weigh your credit standing heavily on our decision to provide you a cash loan.
- Can I skip my payment this payday and pay on my next one?
No. You cannot skip any payments until your next payday.
- How can I borrow again after I’ve paid back my first cash loan?
All you have to do is log in to your now existing account with us. You will have been given a login and password for your account by this time. Upon logging in, there is a button at the bottom of the page that says “Make a New Application”. All your information will already be filled in. Just update any fields that require changes and apply. It’s that easy to get your second, third and beyond payday loan with us!
- What if I work in a different province or territory than I live?
That’s okay. As long as you work in a province where we offer payday loans, you can get a cash loan with us.