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What is a Line of Credit?
A line of credit is a flexible way to borrow. Apply once and borrow within your comfort zone, up to your loan limit. Funds are available on an ongoing basis, and the loan stays open as long as you need. Borrow, pay back, and borrow again. You pay interest only on funds you use.
Get $$ as needed
Ongoing access to a credit
limit up to $10,000
Pay interest only on
Why Use a Personal Line of Credit?
For bumps in your financial road, a personal line of credit could help bridge the gaps.
How is a Line of Credit different from a Payday Loan?
Both line of credit and payday loans are high-cost loans that could help in an emergency. A payday loan provides a small amount of money to pay back on your next payday. With a line of credit, you apply once and have continuous access to funds.
Line of Credit
Ongoing access to a credit limit up to $10,000.
Has an "open-ended" term, which means it stays open as long as you are using it. Your loan will only be closed at your request or if you don't use it for one full year.
Loans accrue daily interest on the outstanding principal balance.
You can access money (up to your credit limit) without having to reapply.
One-time loan amount up to $1,500.
The loan term depends on your next payday. Terms can range from 7 – 30 days.
Cost a flat fee for the amount borrowed.
If you need more money you have to apply for a new loan.
How it Works
Make payments as outlined in your loan agreement (typically due around your paydays).
Pro Tip: Make payments early to save on interest paid.
What Do I Need to Apply?
- cash money application check markAge 18 or older
- cash money application check markValid ID
- cash money application check markSteady source of income
- cash money application check markOpen chequing account
- cash money application check markPhone number
Common Line of
We're proud to offer loans to Canadians with various credit scores. Your credit score is only one of many factors we consider when processing applications.
Is a Line of Credit Right for You?
Check out our FAQs page for more resources.