MoneyMart Canada

MoneyMart Canada is a Victoria, BC, based payday lending company, owned by the U.S. based Dollar Financial Corporation since 1996.

Originally, the firm started in alternative financing sector back in 1982, and grew steadily into one of the largest payday advance companies in Canada.

Their parent company, Dollar Financial Group (founded in 1979), operates over 1,000 locations in a total of seven countries, focusing on providing short term loans, pawnbroking, and gold buying services.

In addition to Money Mart, other brands that they own include The Money Shop (operating in UK and Ireland), Loan Mart, Insta-Cheques, and We The People.

In Canada, Money Mart provides short-term payday loans, with, according to their marketing material, a typical customer being 32 years of age and employed with an annual income at the national average.

Many of payday lending customers use the loan funds to finance unexpected expenses and emergencies, but these are not loan products to meet long-term financial problems, partly due to the loan's high annual percentage rates (APRs) of interest.

There are also alternatives to using a payday loan in Canada, including small consumer loans from you local credit union, credit card cash advances, and negotiating a wage advance from an employer.

Applying for a Payday Advance from MoneyMart

The company is able to provide loans to customers that meet qualification criteria up to 30-50% of borrowers net pay in cash.

As a lender, the firm was a founding member of the Canadian Payday Loan Association, and follows the association's best practices, with the aim of responsible lending practices and excellent customer service.

Applying for a Money Mart payday loan has several service, according to their surveys, including that the company offers fast service, from conveniently places locations, and providing extended operation hours.

You can apply for a cash advance loan in person at one of the 454 outlets, or do so via the online loan application form, and get the funds deposited directly into your bank account.

› MoneyMart Canada

Cash advances should be used for short-term financial needs only, not as a long-term financial solution.

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