Will Focus Financial do a credit check if I apply for a payday loan?

Focus Financial says it doesn't do credit checks. However, it can still verify your financial information. At the end of the application, Focus Financial's terms and conditions say that it may request financial information about you from credit granting institutions, credit bureaus, credit reporting agencies and government agencies.

What happens if I miss a payment?

If your payment is late or your account has insufficient funds, you'll incur an NSF fee which will be added to your total balance. In AB, BC and ON, payday lenders are allowed to charge a maximum of $20.

What if I have bad credit?

Focus Financial says it accepts applicants with all credit backgrounds. It will look at your monthly income to make sure you can repay your loan. You cannot have filed for bankruptcy within the past year.

How much can I borrow?

If you're a first-time customer, you can borrow up to $500. If you're a returning customer, you can borrow up to 50% of your net income or up to $1,500, whichever is less.

What types of income does Focus Financial accept?

Focus Financial accepts CPP, EI, WCB, CTC, private pension and private disability benefits. It does not accept government disability benefits.

How fast can I get a payday loan from Focus Financial?

You can get your payday loan within 1 hour. Focus Financial can give you a response 30 minutes after you submit your application. Once you sign the contract, you'll receive your money within 30 minutes. However, a few factors can affect turnaround time: if you apply outside of business hours, if Focus Financial needs more information from you, if you wait to submit your signed contract or if Focus Financial has a high volume of applications.