Cash advance Canada is available from a total of more than 1,400 retail locations, with Canadians taking around 2 million payday loans annually.
According to the Canadian Payday Loan Association (CPLA), the average
payday advance in Canada is around $280, for a repayment period of 10
As is the case in the United States, typical payday loans in the country are short-term, small dollar amount loans, with the borrower often paying back the loan on the next payday from regular employment.
Because of their high costs of borrowing, payday loans in Canada are NOT meant for solving long-term money problems, and you should look into the Canadian alternatives to these loans even in the short-term.
Typical requirements to qualify for a cash advance loan include regular employment and a chequing account, but credit check is often not part of the loan application process...which is why the payday loans might be available even to Canadians with bad credit but with regular job.
As is the case with most other countries where payday lending is
popular, Canada has very strict federal regulations on payday loan
industry, with especially the country's usury laws restricting maximum
In addition, since 2006, when the "Criminal Code of Canada" was amended to allow for the individual provinces to regulate the payday loan industry, many provinces have introduced further regulations.
According to CBC, six provinces, including Manitoba, Saskatchewan, Ontario, British Columbia, and Alberta, have introduced regulations providing rules that state the maximum allowed charges on payday loans.
Furthermore, British Columbia, which as an estimated 250-300 payday outlets operating in the province, has regulations that require the payday advance lenders to be licensed by the Business Practices and Consumer Protection Authority (BPCPA).
One good source on payday lending in Canada is the Canadian Payday
Loan Association (CPLA), which represents nearly 40 Canadian short-term
lenders that operate about 763 retail financial services outlets.
Their full members (they also have affiliate members) include:
One benefit from doing business with one of the CPLA members is that these companies have committed to provide good service according to the association's "Code of Best Business Practices".
Vancouver payday loan lenders include MoneyMart, the nation's largest payday lender, Cash Money, and Moneytree Canada Inc.Vancouver Payday Loan
Cash Money cheque cashing is available from over 100 locations in 6 different provinces in Canada, most with extended operating hours.Cash Money Cheque Cashing
Cash Store Canada is a major payday loan broker in Canada, with branches available in nine provinces and two territories, in over 200 communities nationwide.Cash Store Canada
National Money Mart is one of the largest and oldest payday lending operations in Canada, with some 454 storefronts available nationwide.National Money Mart
Red Leaf Loans is one of the more popular payday lenders in Canada, lending out sums up to $1,500. The firm is a member of the Canadian Payday Loan Association.Red Leaf Loans
Of the payday loan Ottawa providers, MoneyMart operates a total of 23 stores within 20 km of the city, while Cash Money has 8 storefronts in the same area.Payday Loan Ottawa
Zippy Cash is one of the most popular online payday loan lenders in Canada, and has been in business since 2001.Zippy Cash
Largest payday loan Toronto providers include MoneyMart Canada (78 locations in Toronto) and Cash Money, with 40 stores in the city.Payday Loan Toronto
Calgary payday loan lenders include MoneyMart with 25 locations in the city, as well as Quik Loans Ltd., with 2 cash advance storefronts.Calgary Payday Loan
Payday loan in Ontario Canada providers range from Xtra Cash and The Fast Cash Co. to the Cornwall Cash Advantage, MoneyMart, and Cash Money.Payday Loan in Ontario Canada
To find a reputable payday loan company in Canada, one of the best bets is to use one of the Canadian Payday Loan Association (CPLA) members.Payday Loan Company in Canada
310Loan has been one of the pioneers in online payday loans in Canada. The firm has been in business since 1999.310Loan
The Fast Cash Company is a cash advance lender, operating with a total of eight outlets within Ontario, Manitoba, and Saskatchewan.The Fast Cash Company
Xtra Cash is a payday loan lender and cheque cashing service, operating with a total of eight stores, in Ontario and Manitoba.Xtra Cash
Speedy Cash payroll advances has six locations, available in Regina, Saskatoon, Moose Jaw, North Battleford, Prince Albert, and Yorkton.Speedy Cash Payroll Advances
Quik Loans is a Calgary based payday loan lender, with their 2 locations also offering cheque cashing, car title loans, and pawn loans.Quik Loans
PayCheck Plus is licensed to offer payday loans in Ontario and British Columbia, and specializes in providing these payday advances online.Paycheck Plus
MoneyMart Canada is a Victoria, BC, based payday lending company, owned by the U.S. based Dollar Financial Corporation since 1996.Moneymart Canada
Dollars Direct has been in business since 2009, and provides short-term payday loans for sums between $100 and $1,500.Dollars Direct
Cash Max is a Canadian payday lending service from Austin (Texas) based EZCORP, Inc, with stores available across Ontario.Cash Max
Cash 4 You is a Canadian retail chain of payday lending, cheque cashing, and Western Union services.Cash 4 You
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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