Cost Sep 5, 2026
What does a payday loan cost in Ontario?
$14 for every $100 you borrow — the maximum total cost of borrowing allowed in Ontario, with worked examples and the APR at each term.
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FAQs
Frequently Asked Questions
Straight answers about what an Ontario payday loan costs, who qualifies, and what you are entitled to.
Cost Sep 4, 2026
How much can I borrow?
A payday loan is $1,500 or less, for 62 days or less. We lend up to $1,500, for up to 30 days, or for 61 days. Here is how that and the 50% net-pay limit interact, and which one usually binds.
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Eligibility Sep 3, 2026
Am I eligible for a payday loan?
What you need before you apply: an Ontario address, 18 or over, regular income, and a chequing account your income is paid into.
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Getting Funded Sep 2, 2026
How fast do I get the money?
Funded instantly by Interac e-Transfer. We send the e-Transfer when you sign, at all hours, including evenings and weekends.
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Eligibility Sep 1, 2026
Can I get a payday loan with bad credit?
A low score does not rule you out on its own. We assess income and banking history — and no licensed Ontario lender can promise approval before it has looked.
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Your Rights Aug 31, 2026
Can I cancel a payday loan?
Yes — by the end of the second day after you receive the loan and your agreement, at no cost and for no reason. In two cases the right never expires.
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Repayment Aug 28, 2026
What if I cannot repay on time?
If you think you cannot pay on your due date, you can contact us before it; it costs nothing.
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Repayment Aug 27, 2026
What is an extended payment plan?
If a lender makes you a third payday loan inside 63 days, Ontario law says that loan must be repaid in instalments, at no extra cost. We do not make a third payday loan within 63 days.
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Repayment Aug 26, 2026
Can I have two payday loans at once?
Not with us. Ontario's seven-day rule bars a lender from making a new payday loan until seven days after the previous one is paid in full; after your second loan with us, we wait 70 days from the day it is repaid in full, and then the count starts again. Rollovers are banned outright.
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Eligibility Aug 25, 2026
Do you do a credit check?
An honest answer: we may check your credit, and we always look at your income and banking history. What we do not do is decide on a score alone.
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Getting Funded Aug 24, 2026
Is my bank information safe?
The bank connection is read-only. Your online banking credentials go to a specialist verification provider, not to us, and a read-only link cannot move money.
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Eligibility Aug 21, 2026
Can I get a payday loan on ODSP or Ontario Works?
Ontario law does not exclude income from social assistance — but the arithmetic is unforgiving, and a loan may be deducted from your next benefit payment. Read this before you apply.
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Your Rights Aug 20, 2026
How do I complain about a payday lender?
Start with the lender, then take it to the Ministry of Public and Business Service Delivery — (416) 326-6203 or CPOLicensing@Ontario.ca. What to send, and what the regulator can do.
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Alternatives Aug 19, 2026
What are the alternatives to a payday loan?
A payday loan costs $14 per $100. Most of these cost nothing. Ask the creditor for time, ask payroll about an advance, check a credit union, and find out what help already exists.
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