Small Loans - My Canada Payday

Posted on Friday 21 August 2020

We usually think of loans in terms of large amounts, like financing for a new house or even buying a new or used vehicle. But what if you don’t have to need tens of thousands of dollars to take out a loan in the first place?

An average Canadian simply needs a hand with everyday expenses, such as:

  • Replacing a broken washer or dryer
  • Fixing car brakes or getting a new set of tires
  • Covering the cost of an urgent home repair
  • Paying monthly rent or mortgage
  • Consolidating a few credit cards to pay off your debt

Sometimes, these issues are not even an emergency. You may be planning a vacation or a quick weekend getaway and need a little extra cash. Or you may simply be seeking to invest in bitcoin or build your credit. There are endless possibilities when it comes to taking out small loans. However, it's best to only use them for emergencies rather than for occasions like Cyber Monday. This is unless you have a fail-proof plan to pay it back.

So, where can you get a small loan, and how do you apply for one? This article will answer these questions and provide you with more insight on this topic.

What is a small loan?

Small loans are loans that come in lower amounts with shorter lending terms. They are usually less than $10000.00. This makes them a great option if you need to supplement a paycheck or consolidate bills. You can get a small loan from as little as $100, but they also come in amounts upwards of $1,000.

These loans are designed to be paid back on your paycheck schedule. You can pay them off in just a few payments or make whatever arrangements that make sense to you and the lender. Since small loans don’t typically have high credit requirements, they can help you establish a positive lending history and boost your credit score.

As a result, many Canadians (up to 2 million) opt for small loans to address their short-term needs.

Where Can You Get a Small Loan?

Finding an institution willing to give you a small loan isn’t always easy. Banks and credit unions like to lend in higher amounts because that’s how they make money.

MyCanadaPayday is the best choice for small loans. We offer loans anywhere from $100 to $1500, with lightning-fast approval to ensure that you can pay your bills on time. We've been around for quite some time, helping Canadians from literally all provinces. We have a few physical offices as well.

There are tons of reasons to get a small loan at MyCanadaPayday, but here are some of our favourites:

All Credit Scores Are Welcome

At MyCanadaPayday, we don’t expect your credit score to be perfect. Nobody should have to jump through hoops to get a small loan. As long as you meet some basic requirements, you will be eligible for the cash you need.

If your credit needs improving, applying for a small loan is an excellent place to start.

Everything Is Available Online

At MyCanadaPayday, our application process is fully online, making it incredibly easy to apply for and get the funds you need. All you need is an internet connection and 15 minutes.

You’ll get your approval notice and lending agreement sent to you via email, so you can complete the entire process without the anxiety that comes with having to sit down and talk to a loan officer.

Loan Funds Are Available in A Day or Less

Getting small loans at MyCanadaPayday is one of the fastest in the industry. If this is your first time borrowing with us, you’ll be able to access your loan the next business day. And if you have taken out a small loan with us before, you will be eligible for even faster delivery, with access to your funds in as little as 30 minutes.

Our goal is to provide small loans that are both convenient and affordable, not loans that are designed to lock you in debt and drain your bank account.

What Is The Procedure For Getting A Small Loan?

Getting a loan with us is simple. At MyCanadaPayday, we believe that everyone should have access to emergency loans, which is why we don’t require specific credit scores or income ranges. Everyone is welcome to apply.

If you are at least 19 years old, have at least 60 days of banking history, and can provide proof that you are employed with a steady income, you’re ready to apply.

Set aside 15-20 minutes to fill out our online application. After you submit it, you’ll get an approval email from us in as little as 30 minutes.

After you sign the lending agreement, your funds will be deposited into your bank account through a secure EMT bank transfer. New borrowers will be able to use their money the next business day, and returning borrowers can access their funds within thirty minutes.

Finally, you can choose to repay your loan on either a 30-day paycheck schedule or a 60-day schedule. Just let us know what works best for you and your finances, and we’ll adjust our terms to suit your needs.

MyCanadaPayday loves making borrowing as seamless and as straightforward as possible. We are the best payday lenders in Canada. Reach out to us at any time to learn more about the lending process or to get started. Our customer support team is available by phone (604-630-4783) or by email (

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