FAQ
What is a payday loan cash advance?
A payday loan cash advance is a short-term loan that can be used to cover your expenses until your next payday.
How much can I borrow?
The amount you can borrow is based on the amount of your paycheque. The loan amount is determined by the lending company with whom you are matched. After establishing a relationship with the lender, it is at their discretion that your loan limit could be increased. Loan amounts range from $100 up to $1,500.
What are the loan fees?
Loan fees vary as they are charged by the lender. An example: for a loan in Ontario the loan fees are as low as $20.98 per $100.
What if I have bad credit?
Our lending partners base your loan on your current income, not past credit history. You could be approved for a loan with good credit, bad credit or no credit at all.
Do I need to be paid by direct deposit?
Yes, in order to qualify for a payday loan with one of our lending partners you must receive your paycheque by direct deposit.
I am paid by commission, do I qualify?
No, unfortunately, our lending partners will not proceed with a payday loan if that is the case. You must be actively employed in order to qualify for a loan. Types of income they do not accept are: social assistance, retirement pay, commission-only, nor those paid only by mileage.
How do I repay the loan?
The loan is repaid and the lender’s fees are paid by automatic debit from your bank account. This is done via a preauthorized direct debit. The funds come out of your account the same way that they went in.
Is there an application fee to apply with Payday Land?
PaydayLand.ca is a free matching service and never charges applicants. There is a fee, however, from our lending partners when they have issued a loan.
