Cash Loans

Do you need some quick cash to tide you over? Some companies give you a cheque, when all you want is cash in hand.

My Canada Payday can help with our cash loans that can put $1,500 in your pocket quickly. It’s up to you what you use that money for -- it can be a vacation, medical expenses, car repairs, or an unexpected bill. We won’t micromanage what you spend it on -- we’re just glad to be helping you out when you most need it.

We want to be the business you turn to when you need a cash loan or a short term $500 loan -- whether it’s a one-time deal or several times a year. My Canada Payday wants to be your go-to direct lender, so we have spent a lot of time and consideration to make sure we’re the type of business you’d want handling your cash loan or car repair loan.

Why We Think You Should Choose Us

There are a lot of payday lenders out there for you to choose from. And not to pat ourselves on our backs, but we think we’re a great company to do business with. Especially for bad credit loans in Toronto. Here are some of the reasons we think you should throw your business our way.

Our Customers Like Us

On TrustPilot, we have 718 reviews and an excellent rating. We’re rated 9.0 out of 10 stars. Those customers would have no other reason to take their time to fill out a rating for us, other than being highly satisfied with the job we did.

We’re Licensed

If you’re getting a cash loan or perhaps a holiday loan, you should go with a fully licensed online payday lender. Furthermore, you want one that will be upfront about their licensing information, like we are. Our payday license numbers are as follows, in case you want to be certain you’re doing business with a reputable company.

We’re Speedy

Sometimes businesses think more about their own needs than the needs of their customers. As one of the more respected online money lenders, we think that’s wrong, and we strive to do our best for you. We know if you’re seeking a cash loan, or maybe just an online personal loan in Canada, you must need the money quickly.

It would be frustrating for you to wait weeks or even days for a loan, as you would with a traditional loan from a brick-and-mortar lending institution. You’d be worried about whether you’d be accepted or denied and how you would come up with the money if you were rejected. We don’t want you to go through that, so we review our applications quickly.

Sometimes, we’ll have an answer for you in as fast as 15 minutes.

We Take Privacy Seriously

In this day and age, data protection is important. There is too much fraud and identity theft going on to be sharing or selling information. All it takes to disrupt your life is one bad data breach.

Since we’re well aware of how important your data is, we do everything we can to protect it. That means we don’t sell your data to third parties and we use state-of-the-art, bank-level encryption to keep your data safe.

We’re Flexible

Sometimes you need more than one payday to pay off a loan. Your circumstances might require a longer loan. If that’s the case, you can borrow until two paydays from the date of your loan. We have physical locations and of course, you can always apply online.

Loans can’t exceed 60 days, but we’re happy to give you more time than just one payday to retire your debt.

How it Works

The Application

You fill out the quick online application, which should take you about 5 to 10 minutes. You’ll just need some basic information and you’ll be good to go. You do it at the time that is convenient for you. If you’d rather, you can call our customer service department at 877-730-8406 and let one of our representatives help you with the process.

The Approval

We’ll get back to you quickly through email to let you know about your approval status. We approve the majority of our applicants, so don’t be afraid to give us a try, even if you’ve been rejected in the past. If you are approved, you’ll have to agree to our terms and conditions before we can release the money. That won’t take long, and, as soon as you do, the money can be released.

Getting Your Money

Cash Loans Questions and Answers

Here are some of the common questions we get about our cash loans.

What Do I Need to Qualify for a Cash Loan?

My Canada Payday doesn’t have a lot of requirements for approval. We don’t require you to have a high credit score, or even any credit history at all. We do require that you have a job, or a pension if you are retired. At this point in time, we don’t offer cash loans to those who are self-employed because we like to see regular income.

If your bank supports Interac, our banking network, we can help you out.

Am I Going to Be Penalized for Repaying My Loan Early?

We think you should be congratulated for repaying your loan early, not penalized. While some companies will slap you with prepayment penalty fees, that’s not something you’ll see at My Canada Payday. You won’t be penalized for being responsible here.

Can I Do Everything Online?

Not everybody is a social butterfly -- we get that. Maybe you don’t like the intimidation factor of going into a brick-and-mortar location and applying for a loan in person. Or perhaps you’re not the type who likes to talk on the phone. Some of us would rather deal with machines than with people. So if you’re the type who wants to complete your entire loan process online, we support that.

You don’t have to talk to a single person if you don’t want to. You can do everything entirely online in your pyjamas if you want and get your money quickly anyway. We want to make this as easy as possible for you so you can get back to the other responsibilities in your life.