FAQs – Frequently Asked Questions ✍

For loans we guarantee, you will receive your money by direct deposit. If we approve your application and you return the signed contract before 11:30 a.m., the funds will be deposited into your account electronically the same day, between noon and midnight. If you return the signed contract after 11:30 a.m., the funds will be deposited into your account electronically the following day, also between noon and midnight. Alternatively, you also have the option of choosing instant deposit via Interac e-Transfer for a fee of $30.

Our eligibility requirements are as follows:

• Be 18 years of age or older
• Reside in Canada
• Have stable employment
• Receive your salary by direct deposit into a Canadian bank account
• Have a minimum net income of $1,500 per month
• Not have filed a consumer proposal, debt consolidation, or bankruptcy in the last 30 days, nor plan to do so in the next 6 months.

The following sources of income are not accepted:

• Social assistance (if net income is less than $1,500 per month)
• Alimony/child support
• Loans and bursaries

A surety bond is a form of endorsement that allows you to obtain a loan even without a credit history or a high debt-to-income ratio. The surety guarantees the loan on your behalf to reduce the risk for the lender.

If you are self-employed, your application will be assessed in the same way as an application from an employed person.

Several reasons can lead to an application being refused, including:

• Lack of Instant Bank Verification (IBV)
• Bank account too recent
• Incomplete documents for analysis
• Failure to meet eligibility criteria
• Debt-to-income ratio too high
• Insufficient funds (NSF) or payment dispute
• Other reasons deemed appropriate

You are eligible for renewal if your balance is less than $150. However, please note that renewal of your surety bond is never guaranteed. If your balance is less than $150 but you have not complied with the original terms of your contract, your renewal request may be denied. Other reasons for denial may also apply.

Interest rates and surety fees vary depending on the products we offer. For a detailed description of our products, interest rates, and surety fees, please visit our homepage and Services page.

Yes, you can repay your entire balance at any time by contacting us. We will connect you with the lender who will provide you with the necessary information to make the payment and settle your loan balance.

If you are experiencing difficulties making repayments, please contact us to discuss the solutions that best suit your situation. We are flexible and attentive to our clients' needs. You have the option to modify your payment schedule for a fee of $12.50, or to defer a payment for a fee of $25. Please note that a $45 fee may be applied for NSF charges or payment disputes. All fees mentioned are at the lender's discretion. In the event of prolonged non-payment, the debt may be transferred to our collection agency.

To submit a new surety bond application, please use our website. We do not accept applications by phone. If your application is accepted, you will receive an email requesting the missing documents to confirm your identity and finalize your application. If your application is refused, you will receive an email explaining the reason for the refusal.