A Mississauga cash advance loan can provide you with money to help you deal with an urgent problem. Nonetheless, many lenders offer them, but they aren’t all good. Plus, lenders can vary greatly, so it is important to understand what to look for in a good lender.
Luckily, if you check for the following factors chances are you will find a good Mississauga cash advance loan and a good lender.
Choose a Lender Licensed in Ontario
Cash advance loans are short-terms loans which normally have government oversight, if you choose a licensed lender. You definitely want this oversight for several reasons.
First, a licensed lender must follow Ontario legislation regarding how the lender handles your loan. This includes the lender’s responsibilities such as how they protect your data and your consumer rights should you ever have an issue.
Second, licensed lenders must adhere to interest rates, fees, and penalty restrictions established by the provincial government. If you choose an unlicensed lender, you will almost inevitably pay more.
Third, licensed lenders are legally obligated to provide you with clear information so you can make an informed financial decision. As an example, they must reveal your costs to borrow before they ask for your sensitive data. That way, if you decide you don’t want to borrow your data remains safe.
Finally, unlicensed lenders may not be lenders at all. Both the Ontario and Canadian governments warn against using unlicensed lenders, because they are often scammers after your personal data so they can steal your identity.
Luckily, there’s not a lot involved if you want to confirm a particular lender has a license. Just input their name into the Government of Ontario website here.
100% Online Process
Certainly, many lenders offer a Mississauga cash advance loan. You just need to travel to their office, stand in line, fill out a long application form, provide proof of income, and wait. Of course after all that, there’s no guarantee they’ll give you a loan.
Luckily, there’s a better way to get a Mississauga cash advance loan today. There’s no need to take time out of your busy day to go to a lender’s physical office. You don’t need to stand in line or fill out a complicated application form either. In fact, you don’t need to waste your time doing things like scanning, faxing, or uploading documents. How is this possible? Apply online instead through the right lender.
The right online lender makes it as easy as possible for you to get a Mississauga cash advance loan. They offer a simple application form that you can complete in less than 15-minutes. That’s because they’re only interested in your recent information, not where you lived, worked, or banked years ago.
They won’t ask you to dig up old pay stubs or get a letter from your employer either. Instead, they use digital income verification. This process confirms your recurring income paid by direct deposit into your bank. You don’t need to do a thing, and it’s fast and safe.
The same efficiencies apply when it comes to reviewing your application. A good lender relies on artificial intelligence to assess your information and provides a decision within minutes. You immediately see the terms offered, without obligation and without affecting your credit score.
More importantly, if you’re pre-approved it is extremely simple to move forward. Just accept the terms and the lender prepares your loan contract. You sign this digitally. There’s no scanning or faxing. It all happens quickly and easily.
Costs Revealed Upfront
We already mentioned that a good online licensed lender is legally-obligated to provide clear information. This is especially important when it comes to the costs associated with borrowing. You should be able to see what it will cost you to take out a Mississauga cash advance loan, before you provide your sensitive personal data. Otherwise, you are at-risk for identity theft.
Fortunately, there’s a simple solution. A good lender just asks you to input your province of residence to determine which costs apply to your region. You do not need to reveal any other sensitive information. A pop-up immediately displays your costs so you can make an informed financial decision. This includes the amount your wanting to borrow, the timeline of the loan, your total cost of borrowing, and the annual percentage rate on the loan.
Check Out the Lender
Finding a great lender isn’t hard, when you know where to look. First and foremost, make sure they are licensed in Ontario.
Second, check whether they are dedicated to their industry. Do they belong to industry organizations concerned with ethics, good practices, and reputation? The largest organization governing short-term lenders is the Canadian Consumer Finance Association.
Third, do they have Better Business Bureau accreditation? The BBB offers a visible rating system for consumers and an avenue they can use to resolve lender issues.
Finally, how do they rate on independent review sites such as TrustPilot? These ratings come from actual users, not just disgruntled people that were turned down for a Mississauga cash advance loan.
Fast Funds Release
You wouldn’t be applying for a Mississauga cash advance loan if you had all the time in the world to borrow. You want money fast and you need a lender that can provide it.
Unfortunately, many lenders claim to have a fast process, but then fail in many ways. We already discussed the importance of a quick application process and decision, but what happens later is even more important.
Let’s say you’ve been pre-approved for a Mississauga cash advance loan. You’ve signed your loan contract and sent it back to the lender. How long will it take them to release funds? The right lender does it very quickly, while the wrong one sits on your paperwork for ages.
Luckily, a good lender could 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.
Great Customer Service
Choosing to borrow online means you need a lender that offers great customer service. Email support alone won’t cut it.
Even though you may not think you will ever need to reach out, you just never know. Things can change in a flash, as the last few years clearly demonstrated. As a result, you absolutely need to find a lender that offers multiple customer service options, but particularly a toll-free number so you can talk to an actual person.
A good lender will also develop an in-depth FAQ page with answers to commonly asked questions. That way their customer can choose the best way to connect.
Choose a Canadian Lender
Just because a lender offers a Mississauga cash advance loan it doesn’t necessarily mean they are a Canadian company. Many lender operate from other provinces and even other countries.
Foreign call centres and emails routed through non-Canadian customer support teams can lead to delays and misunderstandings. When you the right Canadian lender for your Mississauga cash advance loan, they have a Canadian customer service team and extended Ontario business hours. Plus, as a Canadian business you know they must adhere to Canadian laws.
GoDay’s Mississauga Cash Advance Loan
GoDay offers a great Mississauga 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.
If you’re considering a Mississauga cash advance loan, here are a few more reasons why you should consider GoDay:
- We’re a licensed Ontario lender
- GoDay has issued loans to Ontarians since 2012
- We offer a 100% online process
- GoDay is Canadian owned and operated
- Costs revealed upfront – your data remains secure
- 15-minute 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).
- Toll-free number, chat, email, and website support as well as an in-depth FAQ section on website
- Proud member of the Canadian Consumer Finance Association, representing licensed short-term lenders in Canada
- Better Business Bureau accredited with an overall rating of A+
- Over 2,200 reviews on TrustPilot, with an overall rating of “Excellent”
Our Basic Mississauga Cash Advance Loan Requirements
GoDay is happy to provide you with our basic Mississauga cash advance 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
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.
