How Online Payday Loans Work

PayDayFinders.ca is dedicated to offering the fastest and most hassle-free lending available. Our simple loan process is designed to get you the money you need, when you need it most. Here's how it works:

Apply - Tell us how much you need by completing our short and simple application.
Match - We will try to match you with a payday lender based on your application details. The lender will give you a decision (approved/not approved) after considering your application.
Funded - If the lender approves your application, the money may be deposited into your bank account the same day.

Loan Requirements for a Payday Loan

You must satisfy the following requirements to receive a loan from PayDayFinders.ca:

Must have a valid bank account that can receive direct debit
Must be at least 18 years of age
Must be employed and receive a regular paycheque or salary
Must be a resident of Canada

FAQs about Payday Loans

Five most popular How it Works questions.

How much money can I receive?
If you qualify for a payday loan you can receive up to $100 to $1500 in your bank account in less than 24 hours. Please note that the average first time payday loan amount varies between $185 to $200.

When will I receive my loan?
Your application will be processed within 30 minutes from the time you have submitted it online. If it is approved before 15:00, you may receive same-day funding (depending on the lender that you are matched with).

What form of payment is used to repay the payday loan?
Usually, the payday loan provider will take your payment directly from your bank account. Depending on the lender, this is generally done by direct debit. Please review the terms and conditions from the specific lender you are matched with.

Would a less than perfect credit history affect my chances of being approved by a lender?
A less than perfect credit history will not necessarily prevent your application from being successful. However this is at the discretion of each lender. All loans are subject to credit approval. As a condition of extending credit, the lender you may be matched with may run a credit check with major credit reference agencies.

The lenders we work with may perform traditional credit checks, while still accepting those with less-than-perfect credit. The lenders we work with verify applicant information via various national databases.

Why are online payday loans better?
Online payday loans have become more popular over the last few years due to the ease and instant access the internet provides. You may apply for a payday loan in the privacy of your own home- no need to stand in queues or deal with any paperwork hassles. Online payday loans, also known as faxless payday loans provides access to instant cash in your own comfortable setting.