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HOW TO APPLY FOR YOUR MONEY LOAN.

HOW IT WORKS?

Check if you are eligible.

  • I am 18 years
  • I work and reside in Quebec
  • I have been at my job for more than 3 months
  • I get paid by direct deposit
  • I have a monthly net income in excess of $1,200
  • I am not on unemployment benefit
  • I am not self-employed
  • I am not on social assistance (SAAQ, CSST, or welfare).

YOU ANSWERED ’YES’ TO ALL THESE QUESTIONS! PERFECT, CONTINUE.

Here are the documents needed to continue.

  • Your last two pay stubs
  • Your current bank statement from the past two months (last 60 days). This has to be the statement of the account where your pay is deposited.
  • A blank check for the bank account where your pay is deposited.
  • Proof of Quebec residency (tax bill, electricity bill, phone bill, cable ...)
  • A photocopy of the following Quebec documents (driver’s license, health insurance card and social insurance card)
GO AND COMPLETE THE APPLICATION.
A handshake
Annual percentage rate (APR) The APR on the amount borrowed from the lender varies between 18% and 20%. Given transactions fees of 0.50$, the interest rate cannot exceed 21.82%. Guarantee fees are applicable for every request accepted.
Renewals Returning customers may renew their loan two weeks before the end of the contract. A grace period is given to the customer helping him/her paying off their loans before taking on a new one. No additional fees are added for returning customers. You may consult our renewal page for more information.
Faster repayment You can reimburse your loan at any time you wish as your loan is an open loan. Also, customers can decrease the balance on their loan faster and save on interest by making larger payments, which helps decrease the amount of interest charged on the loan and shorten the term of the loan.
Repayment terms The terms of repayment of our loans varies from 3 to 4 months. They are also redeemable at any time.
Responsible collection practices Our company uses responsible collection practices. When a customer fails to make a payment, our collection agents can terminate the plan and use different methods to recover the money owed. The relationship with our customers is our priority. Therefore, our agents will attempt to contact the customer in many different ways and, under no circumstances, will the customer be left without notice. Terminated (?) payments will continue to carry interest on the outstanding loan balance. The borrower is responsible for all legal fees required to recover the balance due on the loan. Uncollected debts are subject to the full extent of the law.
Policy regarding responsible lending All applications are submitted through a filtering process to ensure the borrower has the sufficient income to reimburse the loan. This includes, but is not limited to: (a) verifying that your monthly salary is sufficient to reimburse the loan and qualifies for a loan, (b) that you do not have an excessive amount of insufficient fund charges in your bank account, and (c) that you do not have an excessive amount of pre-authorized payments posted to your bank account that would interfere with paying your loan in a timely matter. Failure to successfully fulfill the above mentioned criteria will lead to the rejection of your loan application.
Example of repayment A loan of $ 500 payable every two weeks in 12 installments will cost you $ 61.86 per payment. This information is provided for descriptive purposes only and considers a guarantee fee payable to Loan Solution in the amount of $ 225.00. Solution Prêts determines the cost of each financial products at its own discretion. These costs are independent of the interest charged by the lender.
Missed Payments and credit score Missed payments will be lumped together as a one-time payment at the end of the term of the contract. Besides, as stated in the contract, for each missed payment, a 40$ fee for insufficient funds will be charged at the end of the term. This will not affect your credit score with our company and your bank. If you need to postpone a payment, you must call us 48 hours before the due date of the payment. The payment will be postponed till the end of the contract but will cost you a 25$ fee. Loans paid in a timely manner ensure great service and lead to hassle free renewals, if needed.
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