FAQ

What is a payday loan?

It's a small (usually under $1,000), short-term, no-collateral, cash advance. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. The term of the loan is usually 30 days or less.

Payday loans are meant for emergencies. If you find yourself using them to pay regular bills, you should consider credit counseling, debt-management aid or other type of assistance. There are nonprofit agencies that help consumers who have ongoing, excessive debt.

Use payday loans responsibly.

What is an installment loan?

This is a small (usually under $5,000), short-term, no-collateral, cash advance. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. It is paid back in a set number of scheduled payments. Use installment loans responsibly.

What is a personal loan?

This is a no-collateral loan for up to $35,000, similar to a line of credit. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. The term of the loan is typically longer than an installment or payday loan. These loans can be used to consolidate debt or pay off high interest credit cards. Use personal loans responsibly.

How does Canada Loans Online work?

Canada Loans Online is not a lender and does not make credit decisions. his website is a loan connecting service. We connect consumers who are looking for financial assistance with independent, third party lenders who may be able to provide a loan.

You begin by filling out the simple form. Your information is then shared with third party lenders who may make you a loan offer. You are under no obligation to accept the offer, but if you do, the lender will provide the instructions to do so. Every third party lender has their own terms and conditions. Please consult these before accepting the loan offer. In particular, check for information on the APR, fees, renewal terms and consequences of non-payment.

If you have any questions about your loan, please contact your lender.

Does Canada Loans Online charge a fee to connect consumers with independent, third party lenders?

Registering with Canada Loans Online is free to you, the consumer. We are paid by independent, third party lenders for potential customer referrals.

Each third party lender will have its own fees, APR and terms. These charges come directly from the lender and not from Canada Loans Online .net.

These fees and charges will be provided to you at the time of the loan offer, if one is made. You are under no obligation to accept them. Your loan is accepted by you when you electronically "sign" the offer and send back to the lender.

Read all documents for the terms and conditions of the loan.

How much can I borrow?

Payday loans are usually between $100 and $1,000. Installment loans range between $100 and $5,000 and Personal loans are usually between $500 and $35,000. You will make a request for a loan amount. If you receive a loan offer, it may not match the amount you requested. Loan offers may vary for several reasons including the individual lender, employment, income and other factors.

If approved for a payday loan by an independent third party lender, how quickly could I receive it?

The transfer to your bank account could happen as early as the next business day. Times will vary depending upon your lender and your financial institution. If you have additional questions regarding the transfer time, please contact your third party lender.

What are the minimum requirements to apply for a loan?

Individual, third party lenders have different minimum requirements, but the following constitute typical minimum requirements:

  • Be at least 18 years of age or older
  • Be a Canadian Citizen
  • Have a checking or savings account with direct deposit
  • Have regular income of at least $1,000 per month
  • Have a fair credit rating (for personal loans only)
  • Must Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps, or Navy (or a dependent thereof), serving on active duty under a call or order that does not specify a period of 30 days or less
What information do I have to share in order to register with Canada Loans Online?

You will be asked to provide banking, employment and some personal information. This information includes, but is not limited to your name, address, telephone number, place of employment and/or source of regular income, driver's license number, bank account information and social security number.

The third party lenders may perform a credit check or use other methods to verify the information you provide.

Is the information I provide secure?

Canada Loans Online employs a number of state of the art security measures are designed to keep your information secure. All sensitive data transmitted between your browser and Canada Loans Online uses 128 bit Secure Socket Layer (SSL) encryption technology. Your use of our services is strictly voluntary and is governed by our Terms & Conditions of Use and Privacy Policy.

When must I repay my loan?

Canada Loans Online is not a lender. Each independent, third party lender has their own terms and conditions, including those concerning repayment. You should contact your lender for information about the date and time for repayment as specified in your loan agreement.

What are the implications of late payments and non-payment?

This varies by lender, so check with your lender before agreeing to the loan offer. Many consumers get in trouble by not being aware of the penalties of late or non-payments. Be fully aware of the consequences of not paying the loan in full on the date it is due.

Is approval guaranteed?

There is no guarantee that you will be approved by one of our participating lenders.

What if I am unable to repay my loan according to its terms?

Typical penalties for lack of repayment may include:

  • Addition of late fees
  • Your account being forwarded to a collection agency
  • Report your lack of payment to a consumer credit agency (thereby lowering your credit score)
  • An offer to renew your loan, which will result in additional fees and/or interest

Canada Loans Online is not a lender. You should ask your lender what the implications of non-payment are.

How it Works

With Canada Loans Online, you don’t need to visit a store or wait in long lines. You can complete your loans application 100% online form and submit it for an immediate lending decision. Not only is our online process easy, but we also offer options to get your money the next business day, if approved!

REQUEST A LOAN

Complete our short, secure request form

GET APPROVED

We rapidly connect you with a lender based on your details

GET YOUR CASH

Get cash in your bank account as soon as the next business day, if approved

How Can I Get Cash Online?

1. Apply Online

Fill out an application for an online payday loans or personal loan – from work, the comfort of your home, or on the go!

2. Verify Your Income

If applying for an installment loan or personal line of credit online, then we will ask you to provide documentation to verify your income.

3. Receive Lending Decision

After submitting your online loan application (and income verification documents if applicable), we will provide you with a lending decision. If approved, select how much you would like to borrow up to your approved amount.

4. Get Your Cash

Choose from our convenient options to receive your cash. Get funds within same day if approved, immediately pick up cash at a store, instantly get your money loaded on your Prepaid Mastercard, or have funds direct deposited into your bank account.

What We Offer

With CanadaLoansOnline.net, you won’t have to wait a minute longer to speak directly with a lender. We are dedicated to helping you get the finances you need in a short amount of time.

Benefits

Easy Online Application

Safe and Secure

Fast Decision

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