Canadian Payday Loan Lenders

An increasing number of Canadians use payday loans to cover their short-term expenses. Among the many advantages of this type of loans are the brevity of the application process, the short waiting period before the loan becomes available, and the swift repayment of the loaned sum, which precludes the accrual of much interest. There are two main types of Canadian companies from which people take out payday loans: the traditional brick-and-mortar companies, which require that customers apply in person at one of their local branches, and online companies, which give clients the convenience of borrowing money without even leaving their house. Here are some of the most preferred lenders of either type.

National Cash Advance
This is a US company with presence in three Canadian provinces – Alberta, British Columbia and Manitoba. When applying at any of its 20 offices, the client must bring along two forms of ID, one of them issued by the government, their most recent checking account statement, the previous month’s pay stubs and a personal check. The loaned sum, which can be of CAD$ 100 or more, is received immediately on the spot. In addition, National Cash Advance will not obtain the customer’s complete credit report. They do not require that the borrower has good or any credit history. If the client cannot repay the borrowed amount, the company collects the dues in a lawful and fair way. However, if appropriate or necessary, they may turn over the borrower’s account to a collection agency. The good news is that in case the account is past due, National Cash Advance will not pursue criminal actions against the borrower. They may resort to civil remedies as to collect customers’ past due accounts.

Cash Canada Financial
At the company offices in British Columbia and Alberta, the customer can apply for a payday loan of up to $1,500, which will be loaded onto a pre-paid credit card. To speed up the approval process, the company has made it possible for clients to apply online from its website. When assessing an application, Cash Canada Financial will not make credit checks and will not take into account the applicant’s credit history. The customer does not need to fax in any documentation as all details can be obtained in a brief conversation over the telephone or in a chat. Keep in mind that the Cash Canada Financial does not offer rollovers and extensions. At any given point, only one loan may be outstanding. In addition, the company will pay a bonus of $20 for each successful referral which any of its current customers makes.

Payday Loans Canada
PLC is an online company from which clients can borrow up to $1,500 (first-time customers may borrow up to $300) after completing a 2-minute application process. The money will be wired to a bank account of the borrower within a period of 24 hours. To be approved for a payday loan, the applicant must be 18 years of age or older, have Canadian Citizenship or Permanent Resident status, be employed and receive a regular paycheck of at least $667 every two weeks. Payday Loans Canada charges a flat fee of $22.98 per every $100 loaned.

310-Loan offers online loans from $100 to $600. The money will be deposited to the borrower’s bank account within 30 minutes of the loan approval. The successful applicant is at least 19 years old, receives a steady income, i.e. is not temporally employed or on social assistance, and has a checking or savings account which is actively used.