GoDay Payday Loan
Loans from $100
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If you’re in need of some cash but have a poor credit score, you may be able to get a direct payday loan. Also known as a payday loan, these loans are handy when a traditional lender, like a bank, will not give you a loan because you have a bad credit history. There are loan-matching services available that can connect you with multiple lenders, but if you’re in a hurry to get some money, it might be easier for you to go directly through the lender rather than through a matching service.
A direct payday lender is a lender that directly provides small-dollar loans, rather than working with an outside company. This means that your information stays in one place, but you won’t get a chance to shop around and compare your options.
These direct payday loan lenders offers small-dollar loans that are typically due between 14 and 30 days, typically for a flat fee of around $15-$35 for ever $100 borrowed depending on provincial regulations.
Check the websites of any lenders you’re interested in to confirm they operate in your province or territory of residence.
|Province||Maximum allowable cost of borrowing|
|Alberta||$15 per $100 borrowed|
|British Columbia||$15 per $100 borrowed|
|Manitoba||$17 per $100 borrowed|
|New Brunswick||$15 per $100 borrowed|
|Newfoundland and Labrador||$21 per $100 borrowed|
|Northwest Territories, Nunavut & the Yukon||$60 per $100 borrowed|
|Nova Scotia||$19 per $100 borrowed|
|Ontario||$15 per $100 borrowed|
|Prince Edward Island||$25 per $100 borrowed|
|Quebec||Limit of 35% annual interest rate (AIR)|
|Saskatchewan||$17 per $100 borrowed|
Depending on the lender you select, you can apply online or in-store, and the application should only take a few minutes to complete. Most lenders process applications quickly and let you know if you’ve been approved soon after. Once you sign the contract, you typically have to repay the loan along with all applicable fees by your next payday.
Online applicants can get their money transferred electronically into their bank account, and in-store applicants can collect their approved funds in person shortly after approval.
Keep in mind that payday loan regulations are not the same in every province. Some aspects that can vary include the maximum amount you can borrow, the term and whether or not you can extend your loan.
Not all direct payday loan lenders are the same. Pay attention to these points while comparing lenders:
You might want to use a direct payday lender in the following situations:
Applications can easily be completed and submitted online. In order to secure a loan, you will typically need to meet the following requirements:
If all of the requirements are met, there are just a few steps to apply:
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