Questions and answers
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Applying
Who can apply?
You need to be an adult living anywhere in Canada except Alberta, where the lenders in our network don't lend. You also need a regular income, such as a job or government benefits, and a Canadian bank account. Each lender in our network sets its own conditions.
What do I need to apply?
Your contact details, your address and date of birth, your income and how often you're paid, and the bank account where the money should go. A lender may ask for more documents, such as ID, proof of income or a recent bank statement.
Does applying cost anything?
No. Applying through Urgent Loans is free. If a lender approves a loan, its cost is set out in the contract you sign with that lender.
Do you check my credit?
The lenders in our network don't run credit checks. A lender may verify your bank account online and may ask for documents to confirm your identity and income.
Getting the money
How fast will I get the money?
Many lenders in our network deposit the money the same day you sign the contract. Timing depends on the lender, the time of day you sign and your bank.
How much can I borrow?
Most lenders in our network lend $300 to $3,000. The amount a lender offers depends on your income and its own rules, so it can be less than you asked for.
Is Urgent Loans the lender?
No. Urgent Loans matches your application with lenders in our network. The lender that makes you an offer provides the loan, sets the rate and fees, and handles your payments.
Costs and repayment
What will the loan cost?
Most lenders in our network charge an annual percentage rate of 22% to 32%. For example, a $300 loan at 32% over 98 days is repaid in 7 bi-weekly payments of about $44.99, for a total of $314.93. This example is for illustration only, and your lender shows you the actual cost before you sign. More on loan costs.
How do I pay it back?
In fixed payments taken from your bank account, usually every two weeks over 90 to 120 days. The dates are in your contract.
What if I can't make a payment?
Contact your lender before the payment date. Lenders can often move a payment, while a missed payment can bring fees. Your lender's contact details are in your loan agreement.
Can I renew or get a new loan later?
Ask your lender. Many offer a new loan once you've repaid part or all of the current one. You can also apply again through Urgent Loans.
Privacy
Who sees my information?
The application platform that collects your application, and the lenders in our network that review it. We don't sell your personal information. Our privacy policy has the details.