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Loan know-how: payday, e-Transfer and bad credit lending

Plain-language explanations of how payday loans work in Canada, what they cost, how to confirm a lender’s licence and which alternatives cost less.

How Payday Loans Work in Canada

A payday loan is a short-term loan of up to $1,500, repaid from your next pay within 62 days. In provinces that license payday lenders, the…

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