What Are Payday Loans?
March 25th, 2011
What are payday loans Canada? In the simplest of definitions, these are short term loans, very similar to cash advances, that are available to Canadian residents through specific lenders. These loans offer the opportunity to borrow money to those who have bad credit histories or do not meet the minimum income requirements of traditional lenders. Loan amounts can vary anywhere from $100 up to $1700. Rates of interest are usually higher than normal, as these are considered high risk loans and other fees may apply.
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