Our Oakville cash advance loan is the go-to choice for those that need money quickly, without the hassle. Even so, many lenders offer similar loans so you probably want to know what sets us and our Oakville cash advance loan above the others.
Fortunately, we can offer 5 solid reasons why our loans and our company are a better choice.
Reason #1 We’re a Licensed Ontario Lender
You might automatically assume all lenders that offer an Oakville cash advance loan have a license. However, that’s not necessarily the case.
The Ontario government legally requires all lenders granting cash advance, or payday loans to have a license. But some simply ignore the law. As a result, you could find yourself at unnecessary risk should you choose an unlicensed lender.
While you might think they’re can’t possibly be a great deal of risk involved in borrowing such a small amount money, think again. One of the primary reasons both the Ontario and Canadian governments warn against unlicensed lenders is because of the potential for identity theft.
Some lenders are actually scam artists after your sensitive data. If they get theirs hands on it, they can obtain credit under your name without you even realizing it. When you finally discover the problem, there’s already considerable damage to your credit score. Regrettably, identity theft is time-consuming and costly to rectify.
Besides the risk of identity theft, choosing an unlicensed lender can be detrimental in other ways. Here’s just a short list of why it is important that you avoid these lenders:
- Unlicensed lenders do not adhere to the Payday Loan Act, which describes what a lender can and cannot do
- Unlicensed lenders are hard to pursue through regular channels as legislative authorities have no legal avenue to resolve complaints
- These lenders do not need to follow the restrictions imposed by the Ontario government regarding interest rates, fees, and penalties, so you pay more
- Choosing a lender without a license also means they may hide fees and penalties, since they aren’t legally bound to provide clear information
- Lenders without licenses probably won’t adhere to data protection laws and may even sell your personal data to third-parties without your consent
Luckily, GoDay has an Ontario payday loan license. You can confirm this on the Government of Ontario website here.
Reason #2 We Offer Digital Income Verification
Our Oakville cash advance loan differs from the competition, because we conduct the entire process online. That’s not necessarily the case, even when a lender claims to operate online.
Some start the process remotely, but still you want you to visit an office to provide paperwork they need. For instance, they may ask you to dig up old pay stubs or even get a letter from your employer.
Even worse, some pseudo-online lenders simply substitute this outdated way of doing things with an online version. Instead of dropping the documents off at their office, you must scan and upload or fax the paperwork to them. Who has time for that?
Luckily, GoDay offers a 100% online loan process. With your permission, we verify your income electronically through your bank. You don’t need to do a thing and this method speeds up the loan process.
Reason #3 We’re Transparent
We already mentioned the importance of choosing a licensed lender. However, what sets apart from the competition is transparency.
GoDay wants you to have the information you need to make informed financial decisions. As a result, we offer an in-depth FAQ page on our website. We also welcome your questions via our toll-free number, email, or chat.
Furthermore, when you inquire about an Oakville cash advance loan on our website, the only information we ask for is your province. This is because we lend in many regions and costs vary by area.
Once we have this information, you will immediately see an estimate of your borrowing costs, based on how much you want to borrow and where you live. If you decide you don’t want to borrow, you never need to worry about whether you’ve damaged your credit or jeopardized your sensitive data.
Finally, GoDay isn’t like other lenders. We don’t make you guess whether you meet qualification requirements, or not. As a result, we’re happy to provide you with our basic Oakville cash advance loan requirements below.
Basic Loan Requirements
- At least 18 years of age
- Canadian resident
- Permanent address
- Active account with a Canadian financial institution with at least three months of transactions
- Income paid through direct deposit (we consider employment, self-employment, Old Age Security, the Canada Pension Plan, private pensions, and other forms of steady, recurring income)
- Valid email address
- Active cellphone or home telephone number
- Not currently enrolled in an active bankruptcy, consumer proposal, or credit counselling program
Please note that we can’t consider your application if your income source is Employment Insurance or government benefits related to COVID-19.
Reason #4 GoDay Offers Digital Contract Signing
We already mentioned that many lenders start the lending process online, but then want you to come to them to finish it. This is particularly true if you’re pre-approved and the lender wants you to sign your loan contract.
Once again, they may ask you to sign, scan and upload or fax your loan contract to them. That’s extremely inconvenient considering the primary reasons for choosing an online Oakville cash advance loan are convenience and speed.
Luckily, GoDay offers a better solution – digital contract signing. It’s fast and extremely safe, since all data is heavily-encrypted. There’s no need to visit an office and the entire process can happen in minutes. Plus, your signed contract triggers funds release. The sooner you sign, the sooner you have money in your hands.
Reason #5 Fast Funds Release
People looking for an Oakville cash advance loan don’t have time to sit and wait for a lender to release funds. They need money quickly to handle an urgent need. However, many lenders claim to offer a fast Oakville cash advance loan, but they don’t get money to you quickly, even when they have your signed loan contract.
Fortunately, GoDay can have funds to you the same day, if you sign your contract during business hours. Otherwise, you should receive your money early the next business day.
GoDay’s Oakville Cash Advance Loan
GoDay offers a great Oakville cash advance loan, with a distinct advantage over our competitors. When you apply through our company, we will automatically review your application to see if you qualify for an installment loan instead. Installment loans offer more time to repay, better terms, and access to more money should you ever borrow again.
GoDay is also a proud member of the Canadian Consumer Finance Association , the largest organization governing short-term lenders in the country. Our company also has Better Business Bureau accreditation. This provides an additional avenue to resolve issues in the unlikely event you can’t work it out directly with us.
Additionally, GoDay has over 2,200 reviews on the independent site TrustPilot. These reviews are from actual users, not disgruntled people that want to vent their frustrations on the internet. Our current rating is “Excellent”.
More Reasons to Choose GoDay
If you’re considering a Oakville cash advance loan, here are a few more reasons why you should consider GoDay:
- GoDay has issued loans to Ontarians since 2012
- We are 100% Canadian – our customer service team lives and works here
- Totally online process – no office visits
- Quick, easy application form
- All credit scores considered
- Digital income verification
- Decision in minutes
- Digital loan contract signing
- Quick funds release – GoDay may have the money in your bank account within an hour, providing you sign your loan contract early enough during the business day. Otherwise, you receive your money as soon as possible the next business day.
- Direct bank deposit or Interac® Email Money Transfer (conditions apply).
- Excellent customer service options including a toll-free number, extended Ontario business hours, chat, email, and website support as well as an in-depth FAQ section on website
Whether you are ready to start the application process or want more information, please visit our website. You can also find more information on our Canadian cash advance loans here.
