Frequently Asked Questions



General Questions:

Q: Do you require a credit report for a loan?

A: Yes, a credit report is a necessary part of our approval process.

Q: Does bad credit matter?

A: Your credit report will only rarely be the deciding factor in issuing a loan. We are more interested in confirming your identity with the credit report.

Q: Do you require a cosigner or guarantor?

A: No, we are trusting you and you alone to repay the debt.

Q: Is there a limit to how much I can borrow at once?

A: We have a maximum of $1500 or 50% of your paycheque after taxes, whichever is smaller. Normally we will only offer between $200-400 on a first loan, and in subsequent loans we will increase your credit limit.

Q: What do you charge for interest?

A: Our rate is 15% of the principal.

Q: Is there any cooling off period or can I reborrow immediately?

A: You can borrow as soon as we have confirmed that you have paid off your previous loan. If it was recently paid off, you will have to submit a screenshot to substantiate that.

Q: What if I change my mind after I have already received the funds?

A: You're allowed to cancel your loan any time in the first 48 hours. If you return the funds we will charge no interest or fees.

Q: Do you have any financial tips and tools to manage debt?

A: Check out the Finance Hub for more information.