Frequently Asked Questions
- We offer a competitive interest rate of 29% APR.
- NSF fees : $45
- In most cases, it is possible to delay a payment for an administrative fee of $25
- In case of default, the interest rate on the remaining loan is 3.99% per month
- A broker’s fee is applicable for each loan
Your loan will be repaid over a period of approximately 3 to 4 months. Depending on your pay frequency, you will make a number of small and easy payments (1 to 4 per month). Each time you are paid by your employer, we will debit your bank account for the amount of an instalment, as presented and agreed by you during the application process. Everything is disclosed upfront and there is absolutely no surprise.
For example, if you borrow $500 and are paid every 2 weeks, you will make 2 small payments per month for a total of 6 payments. These instalments will include the principal as well as all interest and fees.
If for unforeseen reasons you need to reschedule a payment, you may do so by notifying us at least 24 hours in advance.
You may renew your loan 28 days or less before the end of the duration of your current loan.
Please read this page for more details about our process.
To be eligible for a loan with us, you must meet the following criteria:
- Be 18 years or older
- Be a Canadian citizen
- Have a monthly net income over $1200
- Have a stable employment with a minimum of 3 months of service
- Have a Canadian bank account where you get paid by direct deposit
- Not be on the brink of bankruptcy or entering into a consumer proposal
- Have few or no NSF transactions
- Have a low short-term debt ratio, such as other short-term loans
Unfortunately, we are not able to accept the following sources of income:
- Social assistance
- Student loan
- Canada Child Tax Benefit (CCTB)
- Canada Pension Plan (CPP)
- Private pension
- Disability or other insurance income
Our application process is designed to be FAST!
Thanks to our modern paperless application system, it takes most people between 5 and 10 minutes to complete everything.
We offer a quick and innovative way for you to apply for a loan. We do not require you to fax, scan or mail any documents. The application process generally takes 5 to 10 minutes.
By performing what we call “Instant Banking Verification”, we can also approve your loan in record time with no hassle.
Instant Banking Verification (IBV) provides a fast and secure way for us to review your bank statement. IBV uses the same level of security as your bank. Therefore, your personal information is kept safe and secure. This DOES NOT give have us access to your banking account, banking user ID or password. We are simply provided a copy of your bank statement to accelerate your loan approval.
If you have questions or concerns, please don’t hesitate to contact us.
We strive to approve the majority of applicants within 60 minutes.
Approval generally takes 15 to 60 minutes, but may take longer outside of business hours or if additional verification is needed on our part. Don’t worry, we’re working as quickly as possible to get you an answer FAST!
We strive to providing the fastest and most reliable service. We know you count on us to deliver your money quickly. That is why we deposit your money IMMEDIATELY after your application is approved.
Funds generally show up within just an hour or two if your application is received before 2pm EST Monday-Friday.
In rare circumstances, funds may take up to 24 business hours to appear.
We do NOT require a credit check! We instead look at other criteria that are more friendly to borrowers such as:
- a stable source of income
- a reasonable amount of short-term debt
We may decline your application for one or many of the following reasons:
- You do not have a stable employment or enough income to cover a loan (minimum $1200/month).
- You did not provide the required information when filling out the application, or the information provided cannot be verified.
- There are too many insufficient funds (NSF) or similar charges in your bank account.
- You are an undischarged bankrupt.
Contact us before filling out your application if you have any questions or to confirm you’re eligible.
Unfortunately, we cannot accept self-employed people since we require applicants to have direct deposit from an employer on a regular time period.
We absolutely do! After you finish your application, please send us a proof of EI at [email protected].
If you fail to make your payments, our collection officers may terminate your installment plan and employ different collection methods to recuperate the money that is due.
Installments that are terminated will collect interest on the unpaid balance of your loan. The borrower covers any legal fees required to obtain the balance. Any uncollected debts are pursued to the full extent of the law.