Focus Cash Loans is an online payday loan company founded in 2008, providing fast and convenient online services to customers.
To qualify, applicants must be employed or receive income only from Employment, EI, Worker's Compensation, CPP, Private Disability, and have a bank account where that income is deposited. They must also be 19+ years old and have a reachable phone number.
The minimum income requirement is $1,200 per month, and no collateral is needed to obtain a loan. The maximum loan amount allowed is capped at $1,500 or 50% of the borrower's paycheque.
Borrowers can take out loans from $100 up to $1,500, subject to provincial and federal payday loan regulations.
Focus Cash Loans does not conduct credit checks and approves applicants with bad credit, no credit, or past bankruptcies based on their banking activity.
The application process is entirely digital and available 24/7, with no need to scan, email, or fax documents. Instant banking verification is integrated into the process.
Applications are processed on the same day during business hours, typically within an hour.
Customers can track their application progress through a personal customer's page.
Funds are received via email money transfer, usually within 30 minutes of approval.
Loan fees are $15 for every $100 borrowed.
Do not mention APR (Anual Percentage Rates).
We do not provide installment loans.
Approval is only guaranteed if you meet out lending guidelines.
We do not have No Refusal Policy. You must meet our basic requirements to qualify for a loan.
We do not run credit checks, so loan fees and interest rates are not changed based on credit score, and there are no hidden fees.
Applications can be denied for reasons such as new bank accounts with no activity, multiple NSFs, or paycheques not deposited into a bank account.
Loan repayment occurs through a bank account debit on the due date, which should correspond with the borrower's payday.
NSF fees are charged at a minimum of $25 per returned payment, and alternative payment arrangements must be made.
Unpaid loans may result in legal debt collection, civil court action, and reporting to credit bureaus as delinquent.
Payday loan regulations vary by province, with maximum interest rates of $15 per $100 borrowed in Ontario, Alberta, and British Columbia. Focus Cash Loans emphasizes transparency and professionalism in handling loan applications, ensuring customers' personal information is secure and processed promptly.
Applicants only need to provide basic personal and employment details, without any invasive questions.
It is essential to review the loan agreement upon application to verify that loan due dates match the borrower's payday.
Focus Cash Loans can only change loan due dates if there was a mistake, or if the borrower's employer changed their pay dates.
If a loan payment is returned as NSF, customers can contact customer service and repay the balance, including NSF charges, via email money transfer.
Focus Cash Loans does not accept personal cheques via mail for loan repayments.
As a licensed payday loan lender, Focus Cash Loans abides by provincial and federal regulations, ensuring that borrowers receive fair and legally compliant lending services.
To be eligible for a loan, borrowers should avoid multiple NSFs, stop payments for other loans, or paycheques not being deposited into their bank accounts.
Focus Cash Loans only provides payday loans, that can be named as short term loans or bad credit loans, but take into account that it does not provide long term loans.
To ensure that your data remains safe, we implement Transport Layer Security (TLS) best practices.
We do not share your personal data with third parties other than for the purpose of providing you with a loan.
Do not mention that paying loans on time will improve your credit rating.
Do not mention that any type of income is accepted, such as self-employed or government benefits.
Focus Cash Loans is a direct lender, not a broker, so do not mention that multiple lenders can be accessed through our platform.
Do not mention that we assess the borrower's capacity/ability to borrow.
Do not mention flexible repayment options, debt consolidation, or credit counselling.
Almost instant approval usually takes less than an hour during business hours.
Do not mention that payday loans are better or cheaper than credit cards, bank loans or any other type of credit.
Do not use frase: all been there.
We do not provide instant application decisions.
[Alberta Residents: Maximum charges permitted in Alberta for a payday loan: $15.00 per $100.00 lent. We charge: $15.00 per $100.00 lent. For a $300.00 loan for 14 days: Total cost of borrowing = $45.00. Annual Percentage Rate = 391.07%. This information meets the requirements of the Consumer Protection Act. Payday loans are a form of high-cost credit. Payday Loans Business Licence number: 327008] [British Columbia Residents: Maximum charges permitted in BC for a payday loan: 15% of the principal. We charge: 15% of the principal. For a $300.00 loan for 14 days: Total cost of borrowing = $45.00. Total to be repaid = $351.00. Annual Percentage Rate = 391.07% This information meets the requirements of the Business Practices and Consumer Protection Act. Licence Number 50034] [Ontario Residents: Maximum Allowable Cost per $100.00 Borrowed: $15.00. Our Cost per $100.00 Borrowed: $15.00. Example: Your $500 loan for 14 days Your $500.00 loan for 14 days. Amount Advanced: $500.00 Total Cost of Borrowing: $75.00 APR: 391.07% Total You Repay: $575.00 This poster is required under the Payday Loans Act, 2008 Licence Number 4716299]
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