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How Long Does It Take to Process a Payday Loan?


Payday loans can be approved on the spot in many cases as long as you provide the required information. It’s very simple to apply for these loans and it can be done very quickly. There are no lengthy forms to fill out like you would have to do with a loan from a bank or another financial institution.

Bank loans often take longer than a week to be processed. During this waiting time you will have no idea whether you are going to be approved or disapproved for the loan. It’s a long waiting time especially when you are guessing about your future. When you apply for a payday loan in Toronto, you’ll know on the spot what you can plan for based on the loan amount.

Payday loans offer a convenience that cannot be found in any other type of credit loan. Everything is done quickly and you don’t have to worry about booking an appointment with a banking loan officer during business hours. You have the freedom to walk into one of our locations during our extended business hours and no appointment is necessary.

Once you have the money you’ll be able to spend it on anything you want. These types of loans are not issued for specific purposes. It is not a car or home loan that requires you to buy a certain item. The freedom is yours and you can get the cash in your pocket very quickly.

If you have any questions you would like to ask one of our knowledgeable payday loan consultants please don’t hesitate to contact us through our website at moneydirectstore.ca, or call your local payday loan store listed on the site based on your location or come right down to one of our service outlets to speak to someone in person. We look forward to seeing you and being a part of your financial journey through life.

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If you have any questions about Money Direct products and services, please send us an email and our staff will be happy to assist. For loan application inquiries, call directly or visit any of our convenient locations across the GTA, Nova Scotia and Bristish Columbia.



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      *The Cost of Borrowing at Money Direct in Ontario is $15.00 per $100 advanced. On a $500.00 loan for 14 days, the total payback amount is $575. Total cost of borrowing $75, 391.07% APR. The maximum allowable cost of borrowing under the Payday Loan Act in Ontario is $15 per each $100 advanced. The Cost of Borrowing at Money Direct in Nova Scotia is $17.00 per $100 advanced. On a $300.00 loan for 14 days, the cost of borrowing is $51, with a total payback amount of $351. The maximum allowable cost of borrowing under the Consumer Protection Act in Nova Scotia is $17 per each $100 advanced. Payday Loans are High-Cost Loans.

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