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One Month Payday Loan

While you usually plan your spending around your regular income, sometimes there are unexpected expenses that can throw off your careful budgeting.

Car problems, boiler repairs or medical surprises can mean having to fork more out of pocket than planned. If your savings can’t cover these unplanned expenses, loans can be a great option for many Canadians.

Especially for one-off, short term cash advances, a one month payday loan can help you get back on track. If you’re feeling stressed about an urgent financial predicament, a one month payday loan may be your solution.

What is a one month payday loan?

A payday loan is a type of unsecured, short-term loan that essentially gives you a cash advance on your paycheck up to $1500. While not linked to your place of employment, a payday loan takes into account your usual income to approve you for an urgent cash advance. After being approved you may receive the funds within 30 to 60 minutes.

Modern lenders make the process of applying for a payday loan quick and easy, especially when compared to a traditional bank loan. As they are unsecured, they are easier to qualify for as they do not require collateral.


What are the advantages of a one month payday loan?

  • Unlike a bank, the process of applying for a payday loan through an agency is designed to be fast. It is possible to get the funds in a very short amount of time.
  • As it is designed to be an advance on your next paycheck, a one month payday loan is a less risky way of borrowing money. If you stick to your repayments, you will be less likely to be sucked into a debt cycle.
  • You can often apply for a payday loan 24/7, especially from an online agency. This is an advantage for truly urgent cash loans. Weather you live in Surrey, or somewhere in Northern BC, online is the way to go.
  • Loan agencies can be either online or in person, meaning there is likely a loan option that is right for you. Make sure to do your research to find a Canadian loan agency that matches your needs.
  • Private loan lenders often have a well-established customer support system, meaning that any questions or concerns can be discussed with a loan agent.

What to look for when choosing a one month payday loan?

When searching for a payday loan that meets your needs, it is crucial to do your due diligence. Like with any financial matters, there can be scammers out to steal your financial information or money. To avoid this, here are some important factors to look for:

  • Payday loan agencies must be licensed to practice in Canada, and their licensing information should be freely available (or presented upon request).
  • There should be a guarantee between the lender and borrower that any sensitive financial information is kept securely to prevent your identity from being sold or stolen.
  • Review the eligibility requirements to see if you are a candidate for a payday loan. Factors such as citizenship, age and income all may affect your eligibility. This is a must for Saskatoon residents.
  • Whether you seek out a payday loan from an online lender or an office, a reliable lender should have a strong history of positive reviews online. If there are bad reviews or no reviews it can be a sign of a scam or a dodgy loan agency. A loan is not the place to take a chance on a new business.
  • All communication from the lender should be clear and in writing. There should be no confusion about terms of repayment or loan conditions. Remember that even if you are only borrowing a small amount, you will still be entering a legal contract and all documentation should reflect this.
  • As well as this, the payday loan agency should also be easy to contact with effective customer service. It is important to trust that any questions or concerns you may have regarding your loan will be quickly and thoroughly addressed.

How to apply for a one month payday loan?

If you decide that a payday loan is right for you, there is a sequence of steps to secure the funds in your account and then make your repayments:

  • Do your research and decide on your payday loan agency.
  • Fill out an application for your payday loan. Online is faster, and you may have your approval within minutes.
  • Once your application has been submitted and approved, the lender will present you with a loan contract. This contract is no obligation, so make sure to read it carefully (including the fine details)
  • If you approve of the terms of the contract and repayment schedule, you will sign the contract. This process can either be done online or in person
  • Once the lender has received your signed contract they will transfer the funds to your account. Most lenders advertise that the funds will reach your account within 30 minutes
  • You will then have to repay your loan in accordance with the signed contract. Some loans will expect it all at once, while some have the flexibility to split it over a few pay cycles.

What if I have bad credit?

If you have been previously denied a loan from a bank or an agency because of bad credit, you may believe that you are not eligible for a personal payday loan. This is not necessarily true as there are many agencies that specialize in low or no credit lending.

While some lenders may require a minimum credit score, some don’t. You may still be approved, or you may qualify for an amount lower than $1500. Whether your chosen lender requires a minimum credit score or not, they will likely still check your credit details to validate your identity, income and employment information.


When money is tight it can feel scary, but know that there are options for quick cash that can help! A payday loan may be the right option to help you get ahead and take control of your finances, or to get you out of an emergency situation. Make sure to do your research, and you could be one of the many Canadians that takes advantage of this easy financial resource.