Safe. Fast. Affordable.
You can get payday loans for up to $1500 in as little as 15 minutes! My Canada Payday is in the business of getting you your fast cash advance now!

My Canada Payday is rated 4.6 stars out of 5 by TrustPilot based on 764 reviews

Direct Private Lenders For Personal Loans

One of the unfortunate realities of life is that when it comes to money, our outgoings don’t always balance with what’s coming in. Whether you’re between jobs, have emergency house or car expenses, or have to take an unexpected trip to see family, there are countless reasons that you may feel uncomfortably strapped for cash.

In this situation, many Canadians take advantage of personal loans from direct private lenders to tide them over in between paychecks. While there are many different types of loans and lenders, the good news is that these days loans are easier than ever to apply for and be accepted for.

What is A Direct Private Lender

A direct lender is what you probably know as a loan agency: a non-bank creditor that a borrower applies to directly. Unless a loan matching agency is used, there is no middleman involved, so the process of application and approval is usually much easier than a traditional bank loan.

There are many direct lenders across Canada offering personal loans with varying terms and conditions. Loan agency storefronts in your local mall may spring to mind, but the good news is that most reputable modern lenders also offer their services online.


What do they do?

These direct private lenders usually give out personal loans. A personal loan is when money is borrowed by an individual from a lender, either a bank or a private company. Loans can be regulated so you can only spend it on a pre-approved asset, such as car or auto loans. They can also be unregulated, such as payday loans. They can also be secured or unsecured, depending on whether you have any personal collateral tied up with the lender.

For many Canadians, personal payday loans are an unsecured and unregulated way to essentially get an advance on their paycheck. This means that the money received can be received quickly and used on whatever emergency expense has arisen.

It is easier than you might think to access a personal payday loan of up to $1500!

Finding a Direct Private Lender

A quick google search for “quick cash” or “loans near me” will likely return hundreds of results, so filtering through to find a direct lender can be a daunting task.

While your local area may have some accessible brick and mortar loan agencies, an online lender is usually a much easier and faster option to get your money, fast.

Online lenders such as My Canada Payday use the exact same process as in-person lenders, except the hassle of paperwork is replaced with electronic forms and e-signatures. This means that while you are waiting for a local lending store to open, you could already have the money in your bank account from an online lender.

When looking for a direct private lender in Oshawa or anywhere for that matter, it is important to do your research to make sure you’re choosing the right creditor for you. Some things to consider include:

  • Loan agents in Canada must be licensed, and this information must be easily available to you
  • Do a search online for lender reviews - remember that no reviews can be just as much of a red flag as bad reviews!
  • Make sure your chosen lender has a clear customer support service. Hopefully you won’t need it, but it’s nice to know that any future questions or queries can be answered promptly

The Direct Lender Advantage

While you may instantly think of a bank or in-person agency when you think of a personal loan, these days it is easier than ever to access credit online. What sets online lenders apart from the dated lending model of banks or shops includes:

  • You get your money faster. Both the application process and the time it takes to be approved is significantly quicker than the other lending options, meaning that you can access your funds sooner. In an emergency financial situation, this is crucial!
  • Compared to traditional loans, it is generally much easier to apply for a personal loan from an online lender. With the whole process being automated, you can even apply directly from your phone.
  • Modern lenders realize that there is so much more to your financial situation than your credit score, so you can usually be approved for a personal loan from an online direct lender, even with low or no credit. When applying, make sure to include as much information as possible, including your credit information (even if you are worried about it)

Without having to go into a bank or agency branch, you can apply for a loan 24/7, including on weekends or holidays. The reality is that it is at these times that emergency expenses come up. Making direct loans a crucial financial resource for Canadians all throughout the year.

It seems like everyone has a different opinion about borrowing money so at the end of the day, do what's right for you. In reality, there is now right or wrong way.