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Ontario Disclosure Payday Loans

EAZY CASH LOANS INC. is a licensed lender in Province Of Ontario under License No: 4722573 Expiry Date: 27 May 2018
Eazy Cash Ontario Disclosure

281 Montreal Road,Ottawa, ON K1L 6C2

Maximum allowable cost per $100 borrowed: $18.00
Our cost per $100 borrowed: $18.00

Example: Your $300 loan for 14 days.
Amount advanced: $300.00
Total Cost of Borrowing: $54.00
Total you repay: $354.00

For Educational Material about Payday Loans approved by the Registrar, please click here.

For full information on the Payday Loans Act, 2008 including the Ontario Payday Lending Education Fund, contact

Registrar, Payday Loans Act, 2008
Consumer Protection Branch
5775 Yonge Street, Suite 1500
Toronto, ON M7A 2E5
Tel: 416-326-1854
Toll Free: 1-800-889-9768
Fax: 416-326-8810
Email: consumer@ontario.ca

 

Is a payday loan right for you?

  • A payday loan is an unsecured short-term loan to meet unexpected cash needs. When used for short-term cash needs, a payday loan is convenient and economical, but it is inappropriate to use for long-term or continuing cash needs.
  • A payday loan should be used responsibly and for the purpose for which it is intended, namely to solve temporary cash-flow problems by bridging the gap between paydays.
  • Payday loans are for occasional use only and should not be used to cover continual shortfalls in your budget.

Consumer Education

Payday Loans Ottawa| Toronto is an easy way to arrange for financing when you need extra cash fast. And, since there are no restrictions on how you can use the money, you can use it for unexpected expenses, to pay off your bills, or for a well-deserved vacation – the choice is yours. Our team is committed to providing you with a fast decision and quality service. Amount You Can Borrow Normally it’s 20% – 50% of your NET Pay but it all depends when we See your bank activities and pay stub. Though, a payday loan varies from $100.00 to max $1500.00.

Repayment of Payday Loan

Borrowers are allowed to cancel payday loan agreements – without penalty – during a two-day cooling-off period. On your next pay day we usually debit your account for the full loan due ie. the principal and the interest.

What is a payday loan and who uses it?

  • Payday loans are unsecured small-sum short-term loans typically for a few hundred dollars.
  • Payday loans are specifically designed to help customers with one-off, unanticipated expenses. Payday loans are not a form of “revolving” credit designed to keep customers in a permanent debt position.
  • The lender will typically lend up to a specified percentage of a customer’s net pay for a period of 1-14 days, ending on the payday. The borrower writes a post-dated cheque for principle plus interest and fees, dated on the next payday.

To qualify for a payday loan, a customer must be employed and have a bank account.Payday loan customers are average Canadians with near-median household incomes. Fifty-three (53) percent are women, 47 percent are men.