Responsible loan policy

All online demands are analyzed and go through a selection process to ensure that borrowers are in a position to pay back their loan. This includes, but is not limited to:

• Verifying that your salary meets our criteria
  
• Ensuring that you do not have an excessive amount of insufficient fund charges in your bank account
• Determining if your previous financial obligations will interfere with your loan refunding capacities.

Following this analysis, if your file meets our standards, your demand will be ACCEPTED.

Missed payments and credit scores

You will be charged 40$ for any payment refused by your banking institution, for insufficient funds or any other reason, this 40$ will be deferred to the end of your contract. This situation will not affect your credit score within our company, and your file will not be transferred to credit agencies. In case of an emergency where you need to delay a payment, please call us at least 48 hours before the payment is due. This delay will result in a cost of 25$, that will be deferred to the end of your contract. Respecting payment schedules will ensure you an excellent service for future renewals.

Responsible collection

Our company uses the responsible collection methods in compliance with Canadian legal requirements. If a problem occurs during the time that you are repaying your personal loan, our agents from the collections department will make payment arrangement with you while taking into consideration your current situation. Missed payments will accumulate interest on the unpaid balance. The borrower is responsible for all legal fees generated from recovering a past due balance.

Annual percentage rate (APR)

The APR on the amount borrowed from the lender is 32%.

Renewal

Renewing your loan does not happen automatically, you need to request it.

Repayment term

Repayment terms of our loans are 3 to 6 months.

Repayment example

A loan of $500, including capital, subscription fees, interest, will amount to a refund of approximately $750.