How it Works

To qualify for a payday loan, minimum net pay requirements will apply and may vary by province. Other conditions may also apply. Ask the lender directly for details. Online loans originated only to residents of Alberta, British Columbia, Nova Scotia, Ontario and Saskatchewan. [Alberta residents: The APR on a $300 loan for 14 days is up to 599.64% on a rate of $23 per $100 borrowed.] [British Columbia residents: The APR on a $300 loan originated at a Money Mart branch for 14 days in BC is up to 521.17% at The lender's cash repayment rate of  up to $19.99 per $100 borrowed, and up to 599.64% at the regular rate of up to $23 per $100 borrowed. The APR on a $300 loan originated online for 14 days is 599.64% on a rate of $23 per $100 borrowed. clcpaydayloan.com is a lead generator not a lender, applications completed on this site will be forwarded to a lender that provide short term cash loan services. All lenders that provide this service must be licensed by the respected province of operation you should confirm with the lender if they are licensed to conduct payday loan business in their province. [Manitoba residents: The APR on a $300 loan for 12 days is up to 517.08% on a rate of  up to $17 per $100 borrowed. To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 945-3800, 1-800-782-0067 or at www.manitoba.ca/cca/cpo.] [New Brunswick residents: The APR on a $300 loan for 14 days is up to 547.50% on a rate of up to $21 per $100 borrowed.] [Saskatchewan residents: The APR on a $300 loan for 14 days is up to 599.64% on a rate of up to $23 per $100 borrowed.] [Ontario residents: The cost of borrowing with pay day lenders is up to $21.00 per $100 per each $100 advanced. On a $300 loan for 14 days, the cost of borrowing is up to $63.00, with a total payback amount of up to $363.00. The maximum allowable cost of borrowing under payday loan agreements is $21 per each $100 advanced.]

[In Nova Scotia the total cost of borrowing $100 for 14 days is up to $25.00. Payday Loans are High Cost Loans.]

For more details on payday loans please visit the Canadian Payday Loan Association at http://www.cpla-acps.ca/english/consumercode.php

DISCLAIMER:

Late Payment Fees and Interest: Payday loans are meant to be short term loans up to 14 days, the payday loan must be paid back in full on the set due date, if for any reason payments are late the lender will attempt to deduct the full amount from the bank account that you provided, if such funds cannot be collected from your bank account a nsf or bounced fee of up to $55 cdn will be assessed and added to the amount owing, furthermore interest will begin to accrue exactly one week after your due date at an annual APR of 60%.

Collection Practices: All lenders that provide payday loans to users of this site will pursue one or more collection actions in an attempt to collect on the loan. These collections practices will include in house contact via phone, email and mail. If inhouse collection actions are unsuccessful the account may be assigned to a third party collection agency for further collection actions.

Legal Consequences: In events where all collection attempts has failed the lender may choose to pursue a legal claim via the small claims court in their jurisdiction

Impact To Credit Score: Accounts that are not repayed will be listed as an item in collections on all major credit bureaus. Such action can have a significant negative effect to your credit score and your ability to get obtain credit in the future.

Renewal: Payday loans are short term loans and there is no option to renew.. In order to receive another loan your current loan must be paid in full, failure to pay your loan in full will result in the above mentoned collection actions.