As soon as your application is approved, your money will be deposited into your account the same day.
Take comfort in knowing that you will reimburse your loan in 3, 6 or 12 payments based on the frequency of your pay over a period of 3 months.
Our firm guarantees that your information will be kept confidential Read more about our Compliance Policy here
The annual interest rate offered by our company stands at a rate of approximately 23%. An interest rate of 1,74% monthly applies if not paid.
Renewals are offered to returning clients proceeding a determined amount of time that provides clients with a sufficient delay to pay their previous loan in full before the payments on their new loan begin.
Higher payment amounts will reduce interest charges as well as shortening the length or the reimbursement.
Our loans follow repayment terms that can vary from 3 to 5 months.
EXAMPLE OF REPAYMENT:
The payments on a loan of $500 requiring 12 weekly payments would be $62.77 each totaling $753.24. This example is provided for informational purposes, it includes the surety fees that are added to the borrowed capital. The commission is set by the surety company on a case by case basis at their own discretion and does not take into account interest due to us. If the loan amount is CAD $500 and the interest rate is 22% per annum with payback of 90 days, the loan payable is as follows : loan amount CAD $500 * ( 23% / 365 * 90 days) = CAD $527. This will result in a repayment of 175,66$ per month for 3 month.
DELIQUENT PAYMENTS & THE EFFECT ON YOUR CREDIT SCORE (OR CS):
Any payments that are not received as scheduled are deferred to the back end of the contract. As indicated in the loan agreement, a $48 fee may apply regardless of the reason the payment did not clear. Customers who would like to apply for a payment deferral may call or email us 48 hours before the actual payment date. If the request is accepted, the payment is deferred to the back end of the contract and is subject to a fee of $28 (plus interest). Please note that this service is not available if the BORROWER is a resident of the province of Manitoba.
OUR POLICY IN REGARDS TO FAIR COLLECTION:
Our company follows fair collection practices. Any default on your payments may result in the collection officers terminating the installment plan and using varied collection methods to retrieve the funds that are due. Terminated payment plans will gather interest on the unpaid loan balance. The borrower is under obligation to cover all legal fees accumulated on the loan in order to reach the balance due. Any amounts that are not collected will be pursued to the maximum extent of the law.
OUR POLICY FOR RESPONSIBLE LENDING:
In order to ensure that the borrower’s income is sufficient to repay the loan, our filtering process is used for all applications that are submitted. This includes, but is not limited to: Verification of monthly employment to ensure income is sufficient for reimbursement of the loan and qualification for this type of loan. Ensuring a low level of NSF charges on the bank account statement. Ensuring a low level of pre-authorized debits in your bank account that may conflict with the reimbursement of the loan. Should these criteria not be met, your loan application will be declined.
ALWAYS USE CAUTION:
All applicants are encouraged to borrow in a responsible manner. Even though we offer a practical way to aide you during difficult financial situations, local banks may offer a lower interest rate. These loans are to be used only when other options are not made available and are to be taken advantage of as seldom as possible. This can be your best option if used in a responsible manner. Serious financial trouble and excessive debt may result from acquiring too many short term loans at the same time.
*If the financial situation of the credit seems to be in good standing