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Online Payday Loans Canada

Are you thinking about requesting payday loans in Canada? At Friendly Lender, we strive to provide you with options for payday loans online that are both secure and fast. The direct lenders we work with are capable of making decisions quickly thanks to our online process for making a loan request. Completing the form to request a loan only takes a few minutes and with our safe, secure process we can connect you with lenders who are capable of providing loans in amounts of up to $1,000.00

What is a Payday Loan?

Online payday loans in Canada are short term loans that are designed to be repaid in a short period of time, typically on or before your next pay cheque. The amounts offered for these short term loans typically range between $100 and $1,000.

When you request a loan through Friendly Lender and the direct lenders we work with, we do our best to put your request in front of as many lenders as possible, which gets you a better chance of receiving a decision quickly. It takes just a few minutes to complete our form and the process is entirely online. Our lenders rarely require that documents be faxed before giving you your decision so don’t wait! Note that a no fax payday loan isn’t always the case, since there are times where a lender might require further info, but most of it is typically processed online. Request a loan today!

How Online Payday Loans Work

Payday loans are a type of loan that’s based on your income and comes due on or before your next payday. There are also loan products in Canada called “installment loans.”

Installment loans allow you to spread out the payments over a longer period of time and sometimes come with a larger dollar amount that can be borrowed. The terms for these loans vary by lender and you should be sure to read your contract carefully so that there are no surprises when your payments are due.

For either type of loan, lenders will typically deposit the funds directly into your bank account. Be sure that you review the terms carefully and ask your lender any questions you may have before you sign the contract.

What is the Application Process?

When you request an online payday loan in Canada through Friendly Lender and one of the direct lenders that we work with, they will require that you provide us with your employment history and some personal details as well as your Canadian banking information so that the funds can be deposited directly into your account. Once your form is completely filled out, the information is transmitted to our lenders via a secure process that uses industry standard protocols for internet security. Many of the lenders we work with are capable of rendering a decision on your loan request within a few minutes. Should you receive an approval, you will be sent to a new page where you can review your loan contract. Be sure to read your contract carefully, including the fine print, before you sign.

Friendly Lender recommends that you borrow responsibly. Payday loans in Canada are intended to be a short term solution and are not intended to be used long term. When requesting a loan, be sure to consider the amount of your next pay cheque and borrow only the amount of money you can easily repay by the time your loan matures. If you are looking for a longer term solution, you might consider personal loans. Check with your lender to see if you qualify for installment loans online.

How to Qualify?

In order to qualify in Canada for a payday loan online, you should have a steady stream of income, whether that is from a job, or self-employment type of situation and a bank account that is in good standing with the bank. Many of our lenders will review your employment history or your pay stubs before determining whether you qualify for a loan.

Be sure that you accurately and completely fill out the form when you apply for your loan. Bad credit loans are one possible option with our direct lenders so don’t get discouraged and put down the wrong information just because you think you may not qualify. It is more important that you provide correct information so that your request is not rejected. Your information gets reviewed once you have completely filled out the form and a decision is made. If you are approved, you should receive a response within three to five minutes, but it can take longer for some of our lenders to make a decision.

Can You Get Online Payday Loans Without a Bank Account?

A few of the direct lenders working with Friendly Lender provide debit cards that can work like an amount where funds can be credited and withdrawn. Check with your lender to see if this type of arrangement is an option for you and your situation. As always, make sure you ask as many questions as possible up front so that you understand completely what you are getting into when requesting your no credit loan in Canada.

Be aware that some companies claim that they offer “no credit check loans”. You need to understand that these do not actually exist in this industry. Even checking your employment history is considered a type of credit check. Every lender will perform at least some type of verification that you can repay the loan. If you have bad credit, or no credit at all, it may still be possible to get an online payday loan.

How Much Does It Cost to Get a Payday Loan Online?

The amount it costs to get a Canada payday loan online varies by lender and will be clearly laid out in your contract. Fees for these loans are sometimes less than borrowers expect to pay for things like this, but as far as the actual cost, that is determined by the amount you borrow and the terms of your contract. This is why it is important to read those documents carefully before you sign.

Why Would You Need a Canada Payday Loan?

Everyone falls on hard times. Maybe you came up short for your rent because you had an unexpected medical expense. Did your car break down? Do you need to get it repaired so that you can get to work? Perhaps you need a little money to tide you over until payday so that you can buy groceries, or even to buy school supplies for your kids, which can get more and more expensive as your children get older. These are just a few of the common reasons that people request payday loans with Friendly Lender and the many direct lenders we worth with to help you get fast cash when you need money now.