SoLoan provides convenient and fast payday loan which you can get by Internet application. If you are 18 years old, and you are in regular employment, and receive your pay by direct deposit, and you must be Canadian Citizen or Permanent Residence, you are welcome to use our friendly services. No hassle, no credit check required, no misleading, no hidden cost. We are always willing to be a support.
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Compliance with local regulations
SoLoan complies with all government regulations in the jurisdictions in which we offer our services. For example, our payday loan agreement is in compliance with the Payday Loans Act, 2008, and also meets the requirements of the Business Practices and Consumer Protection Act.
In Ontario, the maximum allowable cost of borrowing under payday loan agreements is $15 per each $100 advanced. The cost of borrowing at www.SoLoan.ca is $15 per each $100 advanced. On a $300 loan for 14 days, the cost of borrowing is $45, with a total payback amount of $345.
Period for repayment
We provide short-term cash loan. Minimum and maximum period for repayment is typically 5 days to 30 days.
APR
APR is the abbreviation of term “The Annual Percentage Rate”. On our loans the typical APR, base on a 14 day loan, Maximum APR is 500%, no other fees or charges involved here on our loans.
Implications of Non-payment
Non-payment is our PAD (pre-authorized debit) is returned for any reason, including but not limited to "account closed", "account frozen", "NSF", or / and customer has no intention for payment, it will be considered as a non-payment.
Renewal Policy
Any new or additional loan is no longer available until you resolve the outstanding loan and fees.
