Cash Money Payday Loan
Borrow from $100
- Simple application process
- Fast turnaround time
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You can apply for a quick short term loan, also known as a payday loan, even if you have bad credit or receive government benefits. You can use your loan for whatever you need, as long as it’s for legitimate purposes.
Our guide below will help you determine if taking out a short term loan is a good option for you.
A short term loan is a small loan that is designed to be repaid in a short period to help cover unexpected expenses. These are also known as payday loans.
The maximum amount you can apply for will depend on factors like the regulations in place for the province or territory where you reside, as well as proof that you can pay back the amount you want to borrow. There may also be restrictions on the annual percentage interest rate (APR), whether you can take out multiple payday loans at one time and if you can rollover a loan.
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|
How fast you can receive your money depends on whether you apply online or in person at a store. Online applicants will find filling out an application easy to do from the comfort of their own home or anywhere with an Internet connection, but they will generally have to wait at least a day for approved funds to be transferred into their bank account.
In-store applicants will have to bring all of the required documentation with them, but lenders are able to disperse funds shortly after approval in the form of cash, cheque or prepaid debit card.
No matter where you apply, you’ll likely need to provide following information:
We’ve rounded up a list of payday loan lenders and information on their approximate fund turnaround times. Remeber to check the websites of any lenders you want to apply with to ensure that they operate in the province or territory where you reside.
|Provider||What is the turnaround time to receive funds?|
|Cash Money||In as little as 15 minutes with INTERAC e-Transfer® if approved.|
|Captain Cash||In under 24 hours.|
|iCASH||Within 5 minutes after signing your loan agreement if funds are sent by Interac e-Transfer.|
|GoDay||In as little as 1 hour from approval|
|MyCanadaPayday.com||Funds will be sent immediately via Interac E-mail transfer.|
|Cash 4 You||In 60 minutes with funds deposited via Interac e-Transfer|
|National Payday||Within 30 minutes if your loan application is sent before 11:30am.|
Payday loans are available in all provinces and territories across Canada. You should be aware that payday loans are regulated by individual provinces, which means costs and fees can vary. Ensure that any lender you choose abides by the laws of the place you live.
As of January 2019, the Yukon, Nunavut and the Northwest Territories do not have legislation regulating payday loans at the territorial level. Payday loans are regulated in these territories at the federal level only.
Hover over your province in our interactive map to see if payday loans are regulated on the provincial or territorial level and the maximum cost per amount borrowed – darker shades correspond with a higher cost. You can also click on a province or territory to see its short term loan options.
When you’re comparing loans, here are some of the features you should look out for.
You have a few different options when you need money quickly, including:
Here are some things to look for:
Always review a loan’s terms and conditions before accepting the contract so you know what additional fees and charges you may be expected to pay.
Comparing lenders, she finds one who has a term of six months. To get the loan, she proves that she has a steady source of income – her second job as a cashier at the coffee shop – and she is financed the next day for the amount she needs to make her rent.
With six months to pay off her debt, Jessica is sure she’ll be able to find a new job in time.
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