Payday Loans
Short-term cash to bridge until your next paycheck. Quick approval for urgent expenses.
Same-Day Cash
Funds often within hours
Small Amounts
Borrow only what you need
Simple Approval
Income and bank account required
Regulated
Provincial consumer protection
Payday loans are short-term, small-dollar loans intended to bridge cash flow gaps until your next paycheck. They have fast approval but carry higher costs than other loan types and should be used carefully.
Each province caps the maximum cost of a payday loan. Loan Beaver only connects you with licensed lenders that comply with local rules.
Payday Loan Requirements
- Canadian resident, age of majority
- Steady source of income (including government benefits)
- Active Canadian bank account
- Working phone or email for verification
- Identification
How much can I borrow?
Payday loans are typically a few hundred dollars, with provincial caps usually below $1,500.
When do I have to repay?
Usually on your next payday — within 14 to 62 days depending on province and lender.
Are payday loans expensive?
Yes — they carry the highest costs of any consumer loan. Use only for short-term, urgent needs and explore alternatives first.
Can I get one with bad credit?
Yes. Most payday lenders rely more on income than credit score.
What happens if I can't repay on time?
Late fees and NSF charges apply. Contact the lender immediately to discuss options — don't roll into a new payday loan.
Loan Range:
Provincial caps apply
Cost:
Highest of consumer loans
Term:
Typically next payday
Best Use:
Short-term emergencies only
Approval Time:
Same day common
Apply for a Payday Loan
Fast approval for short-term cash needs.