Find a Payday Loan in Ontario, Toronto and Ottawa - Apply Online Today!
Dime Alley can help find the best payday loans in Toronto, Ottawa and Ontario for your needs. If you have received an unexpected bill and are in need of some quick cash to cover you until your next paycheck, our simple service can provide you with an instant decision to your online application. If approved, you could have money in your account within the hour, with bad credit and no credit check options. To begin, click ‘Apply Now’ below!
3 Simple Steps to Apply For a Payday Loan in Toronto and Ontario
How Do I Know If I Am Eligible For A Payday Loan In Ontario?
For you to be eligible to get a payday loan in Ontario and Toronto there are a few simple criteria required. If you fit the below requirements, click ‘Apply Now’ to fill out our quick online form and get an instant loan offer:
- You must be a Canadian resident
- You must be over the age of 18
- You must have a regular income and stable employment
- You must have a live checking account
Where Can I Get A Payday Loan in Ontario?
Our fully online service means we can search for a payday loan all across Ontario, no matter where you are based. We save you the hassle of applying to different lenders and waiting for a response – with Dime Alley you can have an offer in minutes! We will match you with the perfect lender to meet your needs from any of the following locations:
What Are The Regulations For Payday Loans In Toronto and Ontario?
|
Maximum Loan Amount
|
50% of your net income, up to $1500
|
| Maximum APR | 782% |
| Cooling Period |
2 Business Days
|
|
Are Payday Loans Legal in Ontario?
|
Yes |
|
Roll-over loans Or Multiple Loans
|
No |
|
Maximum Loan Term
|
62 days |
|
Early Repayment
|
Yes, No Fee |
| Bad Credit | Yes |
How Much Does It Cost To Borrow $300, $500 or $1500 in Toronto, Ottawa and Ontario?
Lenders in Ontario can charge a maximum of $15 per $100 borrowed. For example:
If you borrow $300 in Ontario or Toronto for 30 days, there will be a $45 loan fee meaning the total cost of your loan will be $345 (182% APR).
Borrow $500 over 7 days and the loan fee will be $75, bringing the total cost to $575 (782% APR).
The maximum you can borrow is 50% or your paycheck or up $1500 – the loan fee for this maximum borrowing amount would be $225.
Can I Get A Payday Loan in Ontario or Toronto With Bad Credit History?
Dime Alley works with a wide network of lenders across Ontario, from Toronto to Ottawa, who can provide payday loans online to customers with all types of credit history. Even if you have bad credit or poor credit history it is worth applying.
As long as you meet the eligibility criteria for a payday loan in Ontario including having a stable income and being in employment, we will work hard to match you with the perfect lender for your financial situation.
Can You Offer Payday Loans With No Credit Checks?
We can work to match you with a lender who can consider a loan without a credit check. It is worth noting that all of our customers are subject to a credit check in order to make sure you are eligible for a payday loan and that you can comfortably meet your repayments.
When you apply via our simple online application form, we only use a soft search approach that will not leave a visible footprint on your credit report or impact your credit score in any way. So don’t let any worries of bad credit or even no credit at all stop you from applying now – this could be the important step needed to getting your credit score back on track.
How Do Repayments For Payday Loans in Toronto Work?
In Toronto and Ontario, you can apply for up to $1,500 from one of our reputable partners. Together you will agree the repayment terms of your loan and how long you will take to repay it. For small short-term loans, often a couple of weeks is all that is needed to cover you until your next paycheck. For larger amounts, you might seek to repay the loan amount in more manageable monthly installments. (see installment loans online)
Repayments are made automatically from your checking account, making the process of repayment as easy as possible. You can always look to repay your loan early if you are able to. In some cases this could even boost your credit rating! Always make sure to discuss any changes to your repayment plan with your lender.
Where Can I Get A Payday Loan in Ontario?
Our fully online service means we can search for a payday loan all across Ontario, no matter where you are based. We save you the hassle of applying to different lenders and waiting for a response – with Dime Alley you can have an offer in minutes! We will match you with the perfect lender to meet your needs from any of the following locations:
Arctic Bay
Arviat
Baker Lake
Cambridge Bay
Chesterfield Inlet
Clyde River
Coral Harbour
Gjoa Haven
Grise Fjord
Igloolik
Iqaluit
Kimmirut
Kinngait
Kugaaruk
Naujaat
Pangnirtung
Pond Inlet
Qikiqtarjuaq
Rankin Inlet
Resolute
Sanikiluaq
Sanirajak
Taloyoak
Whale Cove
What Happens If I Cannot Repay My Payday Loan in Ontario?
Before agreeing to the terms of your loan, it is important to know that you can comfortably meet your repayments. Consider the source of money you will be using to repay your loan, either from your income or your savings.
Falling behind on repayments can lead to additional interest being added to your loan. If you know you will struggle to meet an upcoming repayment, contact your lender immediately. There might be a way to review your payment plan to clear your balance and avoid any negative impact on your credit score.
How Fast Can I Get a Payday Loan in Ontario And Toronto?
Our simple online form takes just 5 minutes to complete. After you have entered your basic information including your employment details and address, you will receive an instant offer on your screen from one of our lenders. If approved, you could have access to up to $1500 in your live checking account within 1 hour, 24 hours or by the next working day!
What To Consider Before You Apply For a Payday Loan in Ontario?
Before you apply for a payday loan in Ontario, make sure you fit the simple eligibility requirements to avoid any disappointment. These criteria ensure you are able to make your payday loan repayments on time.
Falling behind on repayments can have serious consequences, including late fees, increased interest rates on your loan and damage to your credit rating. Take time to think about how you will meet your repayments, either through your income or from your savings.
Consider how much you need to borrow money now. If you borrow too little you might be left short for your monthly expenses. If you borrow too much you might struggle to meet your repayments.
Payday loans should only be used for emergency financial situations and should not be used for regular spending, or to pay off another loan you might have. Consider alternative forms of loan for example borrowing from family and friends as this type of loan is unlikely to carry interest and will have more flexible repayment terms.
Our Other Products
What People Say About Us
“Dime Alley helped me when I had an emergency. It was fast, simple and effective and I would recommend them to anyone who needs a loan.”
Jane, Nevada, November 2022
“I found the experience overall easy to use. I had to sign an agreement online and all the terms were there and very clear. I would do it again if I needed some money.”
Imani, Georgia, March 2021
“Had a good experience and got my loan the next day. I needed it to pay my bills and will consider using it again if I need a loan.”
Darryl, Michigan, February 2023
More Frequently Asked Questions
Are Payday Loans Legal In Ontario?
Yes. Payday loans are legal in Ontario.
Was this helpful?
How Do Repayments Work?
The repayment terms of your loan will be agreed upon with your chosen lender. In Ontario, the maximum payday loan term is 62 days.
Was this helpful?
Can I Get a Payday Loan If I Am Self-Employed?
Yes. As long as you have a stable income, and meet the other eligibility requirements, you can get a payday loan offer if you are self-employed.
Was this helpful?
How Much Can I Borrow?
Lenders in Ontario cannot lend more than $1,500 (or more than 50% of net income if this is lower). You could have same-day access to funds of $100, $500 or $1,500 by starting your application now.
Was this helpful?
Can I Get a Guaranteed Approval For My Loan?
While we cannot always fully guarantee approval, we will work our hardest to find the lender in Ontario most likely to approve your application. We have a wide network of lender partners who work with borrowers with all types of credit history.
Was this helpful?
Is There A Price Cap In Ontario?
As an added layer of protection for borrowers, there is a price cap in place. You can’t be charged more than $15 for every $100 borrowed from a lender.
Was this helpful?