Payday Loans

What is a payday loan?

Payday Loans are a type of small loan. They are typically in amounts between $100 and $1000 and they are intended to be paid back on or before you next paycheque. Because these loans are for smaller dollar amounts, they are often more accessible to borrowers that have poor credit histories than traditional loans through a bank. Also, where a traditional loan might require collateral, such as the title to your car, payday loans often do not require collateral at all.

How do payday loans work?

Getting a payday loan, also know as a cash advance, with NCR Loans is a simple process. Fill out our online form. It takes only a few minutes to complete and when you are through, submit it and wait to see if you have been approved. If your request has been accepted, you will be sent to a new page where you will see the terms of your contract from the lender. Be sure that you read all of the fine print on this contract so that nothing takes you by surprise when your loan comes due. Once you have signed your contract, you should receive a direct deposit into your account with the amount of your loan. Also make sure that you make your payment on time or you could end up with another mark on your credit history.

Because our process is online, you don’t have to worry about someone standing over your shoulder reading your personal financial information. We use industry standard best practices for internet security so that you can feel confident that your information is protected. Your privacy matters to us at NCR Loans.

How to get a payday loan online?

Simply fill out our online form. It takes just a few minutes to complete and because it’s online the process is completed much more quickly than with a traditional lender. The form requires your relevant financial details and make sure that you double check to ensure that you have filled it out completely with the correct information. Incorrect information in the form could hold up the process and cause your request to take much longer to complete.

“What if I have bad credit?”

It is our philosophy that everyone has the right to request loans, regardless of their credit history. Even though our lenders do perform credit checks, don’t worry about it too much. You may still qualify for a payday loan, even if you have a poor credit score, no credit or bad credit. Bad credit payday loans are available through our direct lenders because they are capable of doing less intensive credit checks that will allow them to focus on your current ability to repay a loan, rather than focusing on your history. You will want to make sure that you are requesting a loan for a good reason so that you do not end up with another dark mark on your credit rating. Some common reasons for applying for short-term loans include: paying off a bill to avoid a late charge, a minor car repair or an emergency home or appliance repair. If you repay your loan on time, it’s entirely possible that it could have a positive impact on your credit rating so be careful to make your payment on time.

How to qualify for an online payday loan in Canada?

One option for qualifying for an online payday loan is to request a loan with NCR Loans direct lenders. NCR Loans puts your loan request in front of multiple lenders giving you more chances to get your request approved.

You might be thinking: “But I need money now!

Our direct lenders work very quickly to review your request and because the process takes place entirely online, your loan can be deposited into your account much more quickly than with a traditional lender. There’s no need to wait for weeks for a response. There’s also no need to put on your shoes or find your keys. You don’t have to go out driving around looking for a store front lending operation in the middle of the night. Our website is available almost any time which can be a lot more convenient for people that work the night shift. There’s no clerk to shove your application into a drawer where it will be forgotten about. NCR Loans treats your information with respect.

Wondering what happens if you need to borrow money for a longer term? Consider signing up for an installment loan through one of our direct lending partners. An installment loan will allow you to make multiple payments, instead of having to repay the loan in a one time payment. Consider applying for one instead if you find that a cash advance will not suit your needs.

Heard about “personal loans”? Considering one of these and wondering how they compare to a payday loan? In essence, a these are one type of personal loan. These are loans that are for an individual and not for a business or commercial entity.

How much does it cost to get a payday loan in Canada?

How much it costs depends upon the terms of your contract with your particular lender. Because we work with multiple lenders and each lender has different contracts, as well as different rates and fees they charge, we cannot state definitively how much you will pay for a your loan in Canada, but we can tell you that these numbers will be in your contract and if you read it carefully, all of the information will be there for you to find when your request for a payday loan is approved.

You should know that all loans require a credit check of some kind. There many kinds of credit checks and some are more in depth than others. Just be aware that every lender performs a credit check so don’t be fooled by other companies that might suggest that they do “no credit check payday loans”. These do not exist.