When used responsibly,
a payday loan can be extremely helpful.
Is it the right solution for your situation?

Responsible Lending

What is a Payday Loan?

A payday loan is a small, short-term loan that is intended to provide just enough money to help take you through until your next payday. In Canada 1, payday loans are typically loans with a value of $1500 or less for a term of 62 days or less. Typically, these loans are used for short-term periods.

Is a Payday Loan the right option for me?

When used responsibly, this type of loan can be extremely helpful to provide financial assistance in a very short amount of time. Some common uses are:

To pay bills

To help cover sudden and urgent expenses

To ensure a cheque will not bounce

What Payday Loan company should I choose?

When choosing which payday loan company you will use, it is important to consider both whether:

The company practices responsible lending

You will use the payday loan responsibly

How does RedLeafLoans.ca practice responsible lending?

At RedLeafLoans.ca, we try to ensure you are not taking more than you are able to repay. Your first loan amount will not exceed 30% 2of your net income. Once you have consistently repaid your loans on time, you will become an established customer and your loan limit may be increased2. The amount you are able to borrow will always depend on the amount of your net income.

RedLeafLoans.ca will always send their customer a reminder email two full days prior to their repayment date. This is sent so that arrangements can be made to ensure the funds will be available and avoid NSF charges from the bank. A reminder will also be sent on the actual repayment date.

You can always be assured that there will never be any hidden costs of fees with RedLeafLoans.ca. We are very upfront about our fees, and they are also displayed on our website, with nothing to hide.

RedLeafLoans.ca will only enter into a business relationship with those who have the means to handle the costs and conditions of this type of loan. We will not loan to those who are receiving pension, disability, Employment Insurance Benefits, on Maternity or medical leave, paid by commission only, substitute teachers, and independent contractors as their financial stability is uncertain. Many other Payday Loan lenders have been accused of "preying" on these groups of people.

Along with ensuring your business with us remains discreet, RedLeafLoans.ca goes above and beyond in ensuring all customer information is collected and kept completely confidential.

RedLeafLoans.ca customer service representatives are able to address your questions or concerns, via email, online chat, and phone.

No Rollovers, No long-term problems

RedLeafLoans.ca is here to help, not to add to your financial obligations. When a loan is rolled over, interest accumulates. This changes your flat-fee loan into a long-term, interest-paying cycle, making it next to impossible to pay off. For this reason, we simply do not offer rollovers on any loan.

How can I ensure I am using my payday loan responsibly?

Be sure to understand all fees and charges associated with any form of credit before making your choice.

Never use this short term solution for a long term financial challenge.

Never borrow more than you know you will be able to pay back, in full, on your scheduled repayment date.

Never borrow money from a company that does not disclose responsible lending practices.

Choose a company who provides world class customer service, where your best interest clearly comes before making profit.

What if my financial obligations become overwhelming?

If you are having difficulties repaying your financial obligations on time repeatedly, attempt to lessen the amount you borrow from your payday lender, or consider another source of credit to assist with your long-term obligations.

You may also wish to speak to a credit counsellor to assist with the difficulties you may be facing. Credit Counselling Canada is the national association of not-for-profit credit counselling and government agencies that work provincially, regionally and locally throughout Canada. Feel free to visit them online at www.creditcounsellingcanada.ca or by calling 1-888-527-8999.

1The specific regulatory restrictions applicable to a payday loan will depend on the jurisdiction in Canada in which you are resident.
2The maximum loan amount for which you are eligible will depend on the jurisdiction in Canada in which you are resident and your net income.

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