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Payday Loan Companies Canada & US



Yesterday I gave an introduction to the various payday loan companies operating online over in the United States. The next region to study is Canada that has a small online market, but I did feel that it would be important to get it covered today. Much controversy has surrounded the interest rates for Canadian payday loans and one such company has been blasted for this and will be facing a hefty fine for several million dollars. As I mentioned, the online payday loan market in Canada is small, but there is a very large settling of payday loan stores. The most popular name would be Money Mart (National Money Mart) who have more than 400 payday loan stores across Canada and as I believe they have been in the industry for 30 years. Their main focus in recent times seems to be the online payday loans market and they offer Canadian consumers between $100 and $800.

RentCash Inc became Cash Store Financial. They provide payday loans through Cash Store and Instaloans; the Cash Store is a big player with 340 payday loan branches today. The typical loan amounts here range from $100 to $2022, but I am not even sure if they provide an online payday loan service and I wasn't particularly impressed by their websites. For me, I see the Money Mart as the major payday loan company out of these two giants; here you may be aware of their Money Shop UK stores. Money Mart are certainly a prominent financial group and it is good to see that they have focused on the Canadian online payday loan market. What goes against them for me is that you will usually have to fax over documents to them and there is no chance of extending payments. For a good cash advance in Canada, they are still the most popular name for payday loans though.

My best solution today for online payday loans in Canada is a partner that are considered as one of the largest global payday loan specialists online. They run QuickQuid here in the UK, CashNetUSA in the States and they also provide online loans to clients in Canada through their brand DollarsDirect who also function in Australia. Unfortunately, they only operate in two select regions of Canada. Dollars Direct only offer British Columbia loans and Ontario loans at this time; this is no doubt down to the harsh legal laws that as I stated in the first passage will cause one such company a multi-million dollar headache. So, if you live in these select areas then a British Columbia loan or an Ontario loan is available today. What is great about DollarsDirect is that they offer up to $2022 that will be transferred to your bank account on the next day. There is usually no document faxing required, bad credit is welcomed, you have a dedicated customer service team and the application is quick and simple taking just a few minutes.

DollarsDirect are a responsible lender that works with the Canadian Payday Loan Association and despite the two select loan regions, they are looking to expand their operations in the near future! DollarsDirect are a great shout for a payday loan, particularly for Ontario student loans, but is there anyone else? Well, the market is small as I did mention. Money Mart and DollarsDirect are the two headliners for me, but I am aware that there are other Canadian payday loan lenders operating today and so I will be researching them soon to provide more insights into the Canadian payday loan market. The payday loan industry has boomed here in the UK and has always been a giant in the United States, but Canada is still a huge market for payday loans and it continues to grow more and more each day.



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