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What Is a Payday Loan?
A payday loan is a simple way to get cash in your hand today even though you don't get paid till tomorrow. A payday loan is also known as a cash advance, a payday advance, a payroll loan, a deferred deposit, post dated cheque advance, a short-term personal loan and a signature loan.
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How does it work?
After a quick approval, you may come into the office with the required documentation to obtain your loan. You will have to provide us with a post dated cheque for the repayment amount, which will be dated for your next payday.
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How do I repay?
There are two way to repay your loan:
Pay off your loan in cash.
Just contact us the day before your due date,
to notify us that you will be coming in to pay
your loan off in cash.
This option allows you to reloan immediately.
Allow us to deposit your repayment cheque.
This option will delay your ability to reloan by
several days.
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How do I Qualify for a Loan?
You may qualify for a loan if:
You've been working at your job for 7 months or more.
If you are not self employed.
If you have a current checking account.
If you are not on probation at your place of work.
You do not work for a temp agency.
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How quickly can I be approved?
You can be approved the same business day you apply and often in 30 minutes!
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Do you do a credit check?
No.
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Do I need collateral?
No.
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Can I take out more than one loan?
Yes, but only to a maximum of what you qualify for in total. This is based on your take home pay.
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How much does it cost?
The costs vary depending on the amount you borrow and the amount of time you have the loan. Contact us to find out how much your loan will cost.
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Do I have to pay an up front fee?
No. Definitely not! If any loan company asks you for a loan fee payable before you get the loan, it is very likely a scam. You should probably report them to the authorities.
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How much can I borrow?
You can borrow from $100 to $1000. You may borrow in increments of $50.
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Can I qualify if I don't live in the Greater Toronto Area?
No. Unfortunately we only service customers who live in the GTA which includes Toronto, Scarborough, Mississauga, Brampton, Woodbridge, Vaughn, Richmond Hill, and Markham.
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What documentation is required?
PAY STUBS: Three of your most recent pay stubs
BANK STATEMENT: Most recent/last thirty days of bank transactions
UTILITY BILL: Most recent utility bill/phone bill etc..
DRIVERS LICENSE: Copy of your drivers license/valid photo ID
PERSONAL CHEQUES: One post-dated cheque
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