What is  a payday loan?
A payday loan is a fast and easy way to get money when you need it.  Simply put, it’s a cash advance from your next pay cheque.  Cash advances are different from traditional bank loans.  They are small, unsecured, short-term loans to help cover expenses until your next payday.  You pay a flat rate for the amount borrowed, fees do not accumulate annually and your repayment is scheduled and due on your next pay date.

 When should I use a payday loan?
When used responsibly, payday loans from Cashline Loans can be convenient and economical.  A cash advance is a small, short-term loan that is not intended as a solution for longer term financial needs.  You should only borrow as much money as you can afford to fully repay when the payment is due.  Should you need to borrow larger sums and feel it will take longer to repay, you should explore other lending options.

What are the basic requirements to get a payday loan?

What documentation is required for approval consideration?
• Picture ID such as a Driver’s License
• Your most recent paystub or proof of income
• Bank statement showing your last sixty (60) days of transaction
• PAD – Pre-Authorized Debit Form for your chequing account or a VOID cheque

Do you conduct credit checks?
No, we do not check your credit rating.

How much can I borrow?
We can loan up to 50% of your net take home pay to a maximum of $1500.

When is the loan due?
Your loan repayment will be scheduled and due in full on your next payday.

How much will the loan cost?
The loan will cost $15.00 for every $100 borrowed.

Will I incur any other fees?
Cashline Loans does not charge any additional or hidden fees beyond those clearly posted and documented in the loan agreement.

Do you have to verify my job?
We do need to verify your employment which is standard in the financial industry. With your permission we will contact your employer for verification.  We are very discreet when verifying your employment and do not disclose where we are calling from.

How and when do I receive the loan?
The advance loan is provided in cash or e-transferred to your bank account as soon as the loan is approved and signed.

How do I pay back the loan?
This is made very easy and convenient.  Simply bring in the cash or send an e-transfer when due or we will set-up a pre-authorized debit for your account. We will typically give you a reminder call, text or email.  Should you have any issues related to payment of your loan please call us.

Can I renew my loan?
A payday loan is meant for short term borrowing needs only.  As such, it is required that your loan be paid-off in full on the due date. You may be immediately considered for a new loan at any time that you do not have an outstanding loan.

What are the implications of non-payment?
Your loan is unsecured and is issued on good faith.  We trust and expect you to repay the loan on time as per the loan agreement.  Should you breach this trust by not repaying your loan as due we take it very seriously.  We reserve the right to collect delinquent loans using all legal remedies available including debt collection and civil court action.  Information regarding your delinquency or default on your account may be reported to a third party consumer credit reporting agency.

Can I borrow more than once in a pay period?
No, you are only allowed to borrow one time per pay period.

Is my personal information secure?
We take all necessary and appropriate precautions to secure your information and confidentiality.

Is Cashline Loans regulated?
Cashline Loans complies with all applicable laws as mandated by the Ontario Payday Loans Act, 2008.  We operate under License #4730443.

What are your business hours? How do I contact you?
Our business hours are from 9am to 5pm Monday and Tuesday. Closed on Wednesday and open 9am to 5pm on Thursday and Friday. Should these hours not work for you call us and we will make arrangements to accommodate you.
Call 519-491-6557 or email info@cashlineloans.ca.