Frequently asked questions
Quick answers about payday loans in Canada and how FlexiNest works. Pick a topic below or scroll through.
FlexiNest is not a lender. Approval and loan terms are set by the lender.
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About FlexiNest
Is FlexiNest.ca a lender?
No. FlexiNest.ca is not a lender. We are a loan connection platform that matches borrowers with independent third-party lenders. We do not approve or deny loans and do not set loan terms.
Does FlexiNest.ca charge application fees?
No. Submitting a request through FlexiNest.ca is free. We may receive compensation from lenders when users are successfully matched.
How does FlexiNest work?
You fill out one secure online form, lenders in our network review it, and if a lender makes you an offer, you see the full cost before you decide. See how it works.
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Payday loan basics
What are payday loans in Canada?
Payday loans in Canada are short-term loans designed to help cover emergency expenses until your next payday. They are typically unsecured and regulated at the provincial level.
How much can I borrow?
Loan amounts range from $100 to $1,500 depending on the lender and your eligibility. In Ontario, a payday loan can’t be more than 50% of your net pay.
What is the maximum fee for payday loans?
Federal law caps the cost at $14 per $100 borrowed. For example, borrowing $500 may result in a $70 fee, for a total repayment of $570. Actual fees depend on provincial regulations and lender policies. Try our payday loan calculator.
Are payday loans available in Quebec?
No. Quebec’s interest rate limits mean payday loans aren’t offered there.
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Approval and credit
Who can apply?
You’ll usually need to be a Canadian resident aged 18 or older (19 in some provinces), with a steady income, an active bank account and a valid email and phone number.
Can I get a payday loan with bad credit?
Some lenders consider applications from borrowers with less-than-perfect credit. Approval depends on income, banking history, and lender criteria. Approval is never guaranteed. Learn more about bad credit loans.
What does “no refusal payday loans” mean?
“No refusal” is a common search term used by borrowers seeking higher approval chances. However, no lender can guarantee approval for everyone. Each application is reviewed individually based on lender criteria. See no refusal loans.
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Funds and repayment
How fast can I receive funds?
If approved by a lender, funds may be sent via direct deposit or Interac e-Transfer. In many cases, same-day funding may be possible during normal business hours. Processing times depend on lender policies and your bank.
When do I repay my loan?
Your lender sets the terms, but most payday loans are due in one payment on your next payday. Read how to repay.
What if I can’t repay on time?
Contact your lender as soon as you can, before the due date. Late or missed payments may add charges. Read how to postpone a payday loan for your options.
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