What is a Payday Loan?
A payday advance is a short term loan which customers usually choose to cover some unexpected expenses like heavy bills of electricity or telephone. With us you can apply for a loan online and have your money electronically deposited to your checking account.
How to qualify for a loan?
There is no as such qualification required to apply for a loan. Only you need to have a regular income, minimum $1000 earning and a chequing account in a verifiable bank.
How much can I borrow?
The first time you borrow ? we can lend up to one-third of your net earnings (to a maximum of $300.00) until your next payday. And on future loans we can lend up to half of your net earnings (to a maximum of $800.00).
Is there any additional fees charged?
Yes, it is about $25.00 per $100.00 borrowed.
Can I borrow more than once until my next payday?
Yes, you can borrow as many times as you like until your next payday. But the total amount you borrow cannot exceed half of your net earning
Can I skip my payment till my next pay?
A payment can not be skipped, but you can do a loan renewal and only pay the fees of the existing loan, renewing the loan until your next payday.
How can I repay the amount taken as loan?
We have different payment options available for our customers:
- Paying the loan in full on the maturity date listed on your application form.
- Paying the finance fee and a portion of the principle on or before the maturity date.
- Paying only the finance fee on the maturity date.