How many times have it happened that you do not have money and emergency knocks at your door? Small loans in Canada are short-term cash advance to help you at such times until your next paycheck.
To qualify, you have to be an adult Canadian residing in the country and earning a minimum of $1000. Your job should be stable for sometime and you should have a bank amount. As incredible as it may sound that it is all you need to get a cash loan in Canada also known as payday loan. There is no background check, no lengthy paperwork or probing questions on why you need this loan.
You can start looking around for a lender from the net. Most of the companies allow you to apply online by filling a simple form that takes about two minutes. However, read the terms and condition well before submitting the form. If you are a first time user, you may be asked to fax your latest salary slip and your driving license. For second time borrower even these are not asked.
There are two options of paying back. You can either give them a post dated check or notify your bank so that they can directly debit the loan amount along with the interest from your bank account. Both of them will be done only after your salary day. Hence, there will be no chance of your defaulting on the loan amount. Be attentive enough that you have the required amount in your account on the day you have agreed to pay back: if your check bounces, the penalties are quite high.
Payday loans can cover individual needs for the amount mentioned above against all types of income including state benefits, disability, pension and employment. Financial institutions even protect your identity and security when you apply online. Institutions use SSL (secure socket layer) as well as a safe e-sign system, which verifies your identity and allows you to sign documents without faxing them. Thus, your short-term 500 dollars Canada payday loan is a non-traditional yet convenient way to borrow money with minimum inconvenience.
Last but not least, you should only borrow a small loan in emergency and not for trivial reasons. If you can somehow manage to get the money, then do not take the loan. Use cash loan in Canada as your last step to solve your problem.