Payday Loans Hamilton, Ontario

Hamilton is a large city located in the Golden Horseshoe region of Ontario with a population of more than 500,000 residents. This is a highly industrialized city that is also known as the Steel City of Canada due to the fact that approximately 60% of the country's steel is produced in Hamilton. Some of the major employers in the city include FirstOntario Credit Union, Stryker Canada, and Horizon Utilities Corporation. Its largest economic activities are manufacturing, retail, educational services, and health care and the city is the home of more than 200,000 active workers. The average household income in Hamilton is approximately $90,000.

What exactly is the best option in Hamilton if there's no cash in the bank and you are not able to hold out til payday?

• Attempt to borrow money from close friends
• Your supervisor could offer you a payroll advance
• Your Visa or MasterCard may possibly offer a cash advance loan
• Apply for an overdraft with your regular bank
• You can dip into your RRSP but there is a big tax fee
• Forget about all that, as you can make a credit application online instantly a cash loan at My Canada Payday. You could qualify for cash if you're getting a paycheque. You can get your money transferred into your account right away.

Bad Credit Loans in Hamilton

Credit scores are commonly used by loan agencies to determine creditworthiness. This makes a lot of sense for some kinds of loans, such as mortgages or auto loans. It doesn't make a lot of sense for small loans like the kind that are offered by payday lenders.

When a mortgage lender or auto lender is evaluating their risk, the principal involved is large and they have relatively low interest rates. This means a loss from one loan can erase all their profits from dozens or even hundreds of other loans.

A payday loan in Canada, on the other hand, is for a smaller amount and is done on a very short timeline. The risk of making a payment in two weeks or a month can be gauged quite successfully from examining the recent transactions in a customer's online banking. Credit scores are more important for estimating the long term risk from someone's payments in the range of several months to years.

There's also a significant cost involved in pulling a credit report. On a loan for tens or hundreds of thousands of dollars, that cost is easily absorbed. Because My Canada Payday uses the applicant's online banking history to make the loan approval decision, avoiding this cost lets us extend our credit to people who might otherwise not qualify. We regularly offer payday loans to people with no credit at all, let alone payday loans for bad credit.

How to Apply for a Payday Loan in Hamilton

If you’re tight on cash and can’t afford to wait until your next paycheque, a payday loan in Hamilton is a great way to keep your finances running smoothly. We’ve created a payday lending structure that is designed to make the application process easy, efficient and accessible, cutting out all of the extra frustration that comes with applying through a bank or a credit union! Here’s a step-by-step overview of how to apply (and receive) your payday loan in Hamilton:

1. Head to MyCanadaPayday.com and apply

Our application is available online, making it easy for you to apply whenever it’s convenient for you. You’ll never have to compile a stack of paperwork, stand in line, or make an appointment with a loan officer. Don’t worry if you’re tight on time: it only takes 15–30 minutes to fill out your application, so you can apply during your daily commute home or even during an early morning conference call.

Our customer support team is always available to help answer questions about the borrowing process – but with a streamlined application, borrowers can easily apply without ever having to leave their couch or even talk to another person!

2. Check your inbox

Banks and credit unions love to take their time with the approval process. That means you could be waiting a week or more with a traditional lender – but not with My Canada Payday! We have a same-day approval process that will let you know within hours whether you have been approved. In fact, many of our borrowers get notification of approval within 30 minutes or less, making for an exceptionally speedy notification rate.

3. Keep an eye on your bank account

After you get your approval notice and sign your borrowing agreement, we’ll send your funds. All payday loans in Hamilton are dispersed through a secure Interac email transfer, which means they are immediately released to your bank account. Of course, that doesn’t always mean you can access your funds right away – the timing can differ from one bank to the next, but most of our borrowers can use their funds within one business day (or even within minutes after approval). Overall, returning borrowers will have quicker access to their payday loans.

4. Make payments

Part of smart financial management is making your payment deadlines – which is why repaying your payday loan should be just as simple as getting it. My Canada Payday creates an automatic draft (using the same secure EFT transfer process that we utilize to disperse loans) to make repayment easy. If you need to adjust your repayment schedule, give us a call! We’ll be happy to explore alternate options to ensure that you stay on track with your loan payments.

What We Review for Payday Loans in Hamilton

Compared to traditional loans, payday loans in Canada offer much more flexibility, quicker approval and disbursement, and less paperwork. Of course, as with any financial product, short-term loans still have rules and regulations to follow – which means you will still have to provide some information for us to review and approve.

The good news is that My Canada Payday keeps it simple from start to finish. Here’s what we’ll review during the application process for payday loan applications in Hamilton:

Your banking history

Have you been using a checking account for the past six months? If so, then you’re in the clear: you will need at least 180 days of banking history in order to submit an application with My Canada Payday. That means that we may request screenshots from your online banking application in order to show that you have consistent banking history. Any screenshots that you send will be processed through our My Canada Payday application to ensure that your personal information is safe and secure.

Your paycheque schedule

Are you getting paid on a regular schedule? As long as you are getting regular payments from your employer through direct deposit or cheque, you’ll be able to submit an application with My Canada Payday. Occasionally, first-time borrowers may need to submit a voided cheque or recent paystub to solidify their payment schedule – but any required documents can be sent through our secure My Canada Payday application (no faxing or emailing required).

Your employment and residency

This one is a no-brainer: all applicants for payday loans in Hamilton must live in Hamilton in order to qualify! The other piece to this is that you must also be working in the local area – so as long as your employer has a Hamilton address, you’ll be all set. (In some cases, we may ask that you send a recent utility bill or other proof of address in order to establish proof of residency.)
The application process has never been so easy!

• We respect your energy and time so we try really hard to process your application in a hurry
• Your bank account gets the cash directly.
• Your payments are debited straight from your account.
• The application process is probably the speediest online

Why Choose My Canada Payday for Your Payday Loans in Hamilton

My Canada Payday is one of the top payday lenders in the country. Not only do we provide a completely streamlined, online process, but we also have a firm commitment to cutting out the long wait times and paperwork overload that come with traditional lenders. Being tight on cash is stressful enough – getting a short-term loan should alleviate that stress, not add to it! Here are our top reasons to choose My Canada Payday for loans in Hamilton, Ontario:

• It’s easy to apply
  Our application is available online, which means you can apply for a short-term loan any time (and from anywhere) you want. You could be relaxing on the couch at 3 AM or at lunch with friends at 1 PM – no matter where you are, our online application process is easy, straightforward, and accessible.
  
  
• We have a quick review process
  Many traditional lenders have a long, drawn-out approval process. If you have bills that need to be paid tomorrow – or an emergency expense today – you can’t afford to wait weeks to see if you’ll be approved. Our approvals are granted in 30 minutes or less, eliminating all of the guesswork that comes with applying for a loan.
  
  
• Your loan is sent directly to your account
  We use secure EFT bank transfers to disburse funds, ensuring that you can access your funds as soon as possible. While some banks might take a little longer than others, first-time borrowers typically see their funds hit their account by the next business day. Returning borrowers get access even quicker, with same-day availability!
  
  
• Your payment schedule can flex to your needs
  All payday loans are designed to be paid on your next paycheque – but what if you need to wait until two paycheques from now to repay your loan? Reach out to My Canada Payday to adjust your payment schedule. We are always ready to help our borrowers succeed with flexible payment terms.

See What Customers Are Saying About My Canada Payday Loans Hamilton

Because we’ve created a simple, reliable and customer-friendly process, we’re great for first-time borrowers and seasoned pros alike. Take a look at what some of our customers are saying about My Canada Payday:

"I am a repeat customer. Their process is so streamlined, easy and fast. The funds were sent immediately after signing the contract. Excellent, extremely fast service!"

"This online service is very quick and efficient. [It’s] everything at your finger tips. If you ever need to reach out over the phone the customer service is pleasant. They are there to help with any questions and your needs. "

"You know what, these guys are so simple and easy to deal with, don’t charge an arm and a leg for interest and you usually have your money within a couple hours. Grateful for this company especially in trying times. "

"This company is amazing and easy to deal with. The entire process was done in no time. "