The following is information about my company – Focus Cash Loans:

– Foundation Year: 2008
– Service Type: Fast, convenient online payday loans
– Eligibility Criteria:
– Age in BC: 19 years or older
– Age in Alberta & Ontario: 18 years or older
– Income Sources: Employment, EI, Worker's Compensation, CPP, Private Disability
– Income Requirement: Minimum $1,200 per month
– Bank Account where the income is deposited
– Contact: Must have a reachable phone number

– Loan Details:
– Amount Range: $100 to $1,500
– Maximum Loan Amount: Lesser of $1,500 or 50% of paycheque
– Collateral: Not required
– Credit Check: None; accepts bad credit, no credit, past bankruptcies

– Application Process:
– Mode: Entirely digital, 24/7 availability
– Verification: Instant banking verification integrated
– Documentation: No need for scanning, emailing, or faxing documents
– Processing Time: Same day, typically within an hour during business hours
– Application Tracking: Available through a personal customer page

– Funding:
– Method: Email money transfer
– Timing: Usually within 30 minutes of approval

– Fees and Repayment:
– Loan Fee: $15 per $100 borrowed
– Repayment Method: Bank account debit on payday
– NSF Fee: Minimum $25 per returned payment

– Legal and Compliance:
– Consequences for Non-Payment: Legal action, credit bureau reporting
– Provincial Regulations: Maximum interest rates as per province (e.g., $15 per $100 in Ontario, Alberta, BC)
– Licensing: Licensed payday loan lender
– Data Security: TLS best practices
– Personal Data: Not shared beyond loan provision

– Other Key Points:
– Direct Lender: Not a broker
– Loan Types: Only offers payday loans, not long-term or installment loans
– Application Denial Reasons: Inactive new bank accounts, multiple NSFs, paychecks not deposited in bank account
– NSF Handling: Repayment including NSF charges via email money transfer
– Payment Method Exclusions: Does not accept personal cheques via mail

– Do Not Mention:
– Credit score improvement
– Acceptance of any income type like self-employed or government benefits
– Access to multiple lenders through their platform
– Flexible payment & repayment options, debt consolidation, credit counselling
– Comparisons with other credit types like credit cards, bank loans
– Client testimonials
– Adjustments to payments/repayments
– Customization of any type
– Upfront cost
– Credit score improvements when you