Got a sudden expense that’s throwing your budget out of whack? No sweat, payday loans in Ottawa are here to save the day!
These quick and easy payday loans are designed to cover your urgent bills and other costs until your next payday. And the best part? You can apply from the comfort of your own home without ever setting foot in a bank.
Ready to dive in? We’ve compiled the 12 best and fastest approval payday loans in Ottawa, along with everything you need to know about eligibility, pros and cons, and more.
12 Quick Approval Payday Loans in Ottawa
When it comes to online payday loans in Ottawa, there are plenty of options. But with so many companies vying for your attention, it can be tough to figure out which is right for you. That’s where we come in.
We’ve scoured the market to bring you the top 12 payday loans in Ottawa, so you can make an informed decision and quickly get the cash you need.
From lightning-quick approval times to flexible repayment options, each of these lenders offers unique features that may appeal to your situation. And with our comprehensive guide, you’ll have all the information you need to choose the perfect fit.
So why wait? Check out our top 12 online payday loans in Ottawa and take the first step towards financial peace of mind today!
1. Mogo
Mogo Finance Technology Inc. offers Canadians personal loans and lines of credit products. If you need quick access to cash for emergencies or unexpected expenses, you can get payday loans in Ottawa quickly and conveniently from Mogo.
You can apply for as much as $35,000 from Mogo and get approved within minutes. Some of the loans from Mogo are reported to TransUnion and Equifax. This can help you improve your credit score if you make timely payments.
Eligibility requirements
- Be above the Age of Majority in your province or territory (18 or 19)
- Be a permanent resident of any province or territory in Canada except Quebec.
- Proof of your income
- Proof of an active bank account
- Your employment history
Why we recommend Mogo
- Getting approved is relatively easy and quick
- No early repayment charges.
- They offer relatively large loans to cover lots of expenses and unpaid debts.
- Mogo has a 100-day money-back guarantee policy
- A Mogo membership comes with various perks
Why we don’t recommend Mogo
- High-interest rates
- Two non-sufficient funds penalties will apply if you default on any payments ($20-$50).
- Additional loan fees
2. Coast Capital
Coast Capital is the perfect fit if you are looking for secure, fast, and reliable online payday loans in Ottawa. Coast Capital offers payday loans of up to $3,000 with no hidden charges. Instead of going to the bank to apply for that loan, you can apply online with Coast Capital.
Their website is simple and easy to navigate and allows you to apply online successfully and expect to receive your money the same day. Coast capital does not demand employment verification or credit checks. The entire application process is done online.
Eligibility requirements
- Be a Canadian citizen or resident
- Be above the age of majority
- No past bankruptcy
- Have proof of income with steady employment
Why we recommend Coast Capital
- Quick approval
- Flexible payment options
- Refinancing to help you get lower interest rates and better loan term
- Competitive rates
Why we don’t recommend Coast Capital
- Not available in all of Canada, only in Quebec, Saskatchewan, or other territories
3. Fairstone
Fairstone is a leading lender for payday loans in Ottawa. They are a good fit if you need cash urgently and can pay up quickly. With Fairstone, you can get up to $35,000 to consolidate your debts into one simple monthly payment or cover unforeseen expenses.
Fairstone offers unsecured loans with no prepayment penalties, and you can get your money as soon as you apply. All the application process is done online from the comfort of your home.
Eligibility requirements
- Be a Canadian citizen or resident
- You must be above the age of majority in your province
- Show proof of regular employment and a steady income
- Have a bank account in your name with a direct deposit capability
Why we recommend Fairstone
- Easy application and fast approval
- Offers loan insurance
- Dedicated customer support
- No prepayment penalties
- You can cancel within 14 days if the loan is no longer suitable
Why we don’t recommend Fairstone
- High-interest rates
- Unsolicited loan offers
- You will pay a discharge fee when you finish your loan
- Negative press
4. LoanMeNow
LoanMeNow is a Canadian lender that offers quick access to the cash you need. You can get your money deposited directly into your account within 24 hours. LoanMeNow can give you a short-term loan to cover your unexpected expenses and tide you over till your next payday.
With LoanMeNow, you can get back on track as soon as possible with no required credit checks.
Eligibility requirements
- You must be above 18 years
- Must be a Canadian resident
- Must be paid by direct deposit
- Must make at least $1,200 monthly after taxes
- Must have an active bank account
- Must have had the same employer for the last two months
- Must not be in a bankruptcy or a consumer proposal
Why we recommend LoanMeNow
- Super-fast approvals
- No credit checking when applying
- Fast funding as approved applications are funded the next business day
- Loans are secure and confidential
5. LendDirect
LendDirect offers personal loan products that give you access to up to $15,000 with unlimed or no-fee cash advances. You can apply online for payday loans from LendDirect. If your application is accepted, you can expect to receive your money within one business day.
No matter what your financial need is, whether car repair or medical emergency, loans from LendDirect can be used to cover any expenses you might face.
Eligibility requirements
- You must be between 18 and 70 years old
- Minimum monthly income threshold of $1500
- Have a minimum credit score of 560
- Minimum three months of credit history
- You must be a Canadian resident living in a province where LendDirect service is available.
- Have a viable bank account with direct deposit capability
Why we recommend LendDirect
- Straightforward application process
- Funds can be used for any expense
- Funds are accessible immediately upon approval
Why we don’t recommend LendDirect
- Not available across Canada
- High-interest rates
6. iCash
iCash is a Canadian payday lender that provides payday loans and has a variety of applicants around Ottawa. They believe in safe practices to protect the client’s information to prevent identity theft. If a problem occurs, they have a hotline to assist with anything at any time of the day.
As an online-based service, it’s easy to apply and be approved in minutes. They are licensed and can approve your loan application in a few minutes. So whether you’re looking for an emergency loan or to consolidate your debts and say goodbye to high-interest rates, iCash can help.
Eligibility requirements
- You must be above 19 years old
- You must reside in a province where iCash services
- Net income of at least $800 per month deposited into a bank account
- Have a valid cell phone number, address, and email address
- Have a Canadian bank account
- Receiving income from the same source for the past three months
Why we recommend iCash
- Short-term loans with the best interest rate
- A convenient loan requirement
- A website with helpful information
- Has operations in various cities
- App for mobile devices
Why we don’t recommend iCash
- The ease of getting a loan here could lead to negative spending habits
- The approval process for the app has been very slow for some users, possibly because of technical issues
7. My Canada Payday
My Canada Payday is a locally-owned business that offers Canadians fast, confidential, and convenient payday loans. Unlike many payday lenders, they are licensed.
They provide high approval rates, quick loan decisions, and easy repayment terms. Offering flexible hours of operation, friendly service, and fast cash, My Canada Payday makes it easy for you to get the funds you need when you need them most.
Eligibility requirements
- Be a Canadian resident.
- Be above the age requirement, which varies from province to province.
- Be employed with and have a steady income paid to your bank account by direct deposit or cheque.
- Provide proof of your income with 180 days of banking history
- Have a valid home address, phone number and email address.
Why we recommend My Canada Payday
- A quick approval process
- Convenient requirements
- In-person and online applications
- Competitive rates
Why we don’t recommend My Canada Payday
- A few improvements are needed in customer service
8. GoDay
GoDay is one of Canada’s leading alternative lenders with a wide selection of quick and easy payday loans with a flexible payment schedule. They are among Ottawa’s top payday loan companies because of their services, including small financial loans without faxing.
GoDay’s goal is to help the people in Ottawa who need money for emergency and payday loans. So, whether you are looking for the best rates in Ontario or quick online loans for people with bad credit, GoDay can help!
Eligibility requirements
- You must be a Canadian resident.
- Have your valid email account, phone number, and home address.
- You must meet the minimum age requirement in your province.
- Have a steady source of income
- Have an open bank account with a Canadian bank or credit union.
- You must live in Alberta, BC, Manitoba, New Brunswick, Nova Scotia, Ontario, PEI, or Saskatchewan.
Why we recommend GoDay
- Flexible loans
- A high level of information security
- Exceptional customer service
- Mobile and online applications are available
Why we don’t recommend GoDay
- For first-time borrowers, the maximum loan amount is $500
9. Money Mart
Money Mart is one of the most trusted payday loan services in Canada. The majority of their business is completed online, and for a good reason, as this keeps pricing down. They provide credit to customers who may otherwise need help borrowing money, such as those with bad or no credit history.
For more than 40 years, Money Mart’s network of branches has helped millions of Canadians access money to pay their bills with fast and convenient service that is easy to understand. Money Mart has over 500 locations in Canada, including Ottawa.
They are open seven days a week and provide cash advances, cheque cashing, bill payment service, prepaid cards, international money transfers and more. Money Mart only requires a few fields from you to present you with financing options.
Eligibility requirements
- You must be at least 18 years old
- You must have a steady source of income
- You must have a valid government-issued photo ID
- You must have a checking account
- You must have an active phone number
Why we recommend Money Mart
- Convenient requirements for loans
- Pre-application is available
- 24/7 They are available
Why we don’t recommend Money Mart
- Receiving funds by bank deposit takes about 1-2 days
10. Mr. Payday
Mr. Payday provides payday loans in Canada and has been helping thousands of people in Ottawa access quick cash since 2002. Mr. Payday offers a fast and secure way to get a cash loan when they need it.
You can get the money you need within 24 hours by using the services offered by Mr. Payday. They have a high approval rate and are reliable lenders that provide the best service to their clients.
Eligibility requirements
- You must be above 19 years old.
- Have an active chequing account.
- Be a Canadian citizen or permanent resident.
- Have a stable job or receive government or non-government disability benefits.
- Have an active phone number.
- Have a net income of over $1,100 per month.
Why we recommend Mr. Payday
- App for mobile devices
- Multi-city operation
Why we don’t recommend Mr. Payday
- Getting approval after hours takes longer
- Customer service needs some improvement
11. Cash 4 You
Cash 4 You is a reputable lender based in Ottawa. It offers money quickly and hassle-free to consumers who urgently need cash. They are perfect for people looking for fast loans with no credit checks, no interest, and flexible repayment options.
The company offers fast and flexible loans that can be received within a few hours after applying. Also, customers can choose from loan amounts up to $15,000, depending on their personal needs.
Eligibility requirements
- You must be 18 years and above
- You must be a resident of Canada
- You must have a steady income
- You must have a bank account that is open and used by you.
Why we recommend Cash 4 You
- It is not necessary to have perfect credit
- Interact e-transfer or cash pickup is available
- With 100+ locations, you can apply online in minutes
- A maximum loan of $15,000
Why we don’t recommend Cash 4 You
- Hidden charges may apply
12. Loan Express
Loan Express is a leading direct lender with a dedicated team of professionals and years of experience. They provide customers with the right quick and affordable payday loan. With Loan Express, you can receive funds directly into your bank account so that you can take care of your financial needs.
So, whether you are looking for an emergency loan to cover unexpected expenses or a loan for bills or home improvements, Loan Express can help.
Eligibility requirements
- Be above the age of majority in your province or territory.
- Have an open and active bank account for at least 30 days.
- Have an established source of income that is on direct deposit into your bank account (Various forms of income are accepted)
Why we recommend Loan Express
- Payday loans that are safe and fast
- Over 15 years of experience as a trusted lender
- E-transfers in five minutes
- Receive money even with bad credit
Why we don’t recommend Loan Express
- Direct deposit is required as a regular source of income
Final Thoughts on Payday Loans in Ottawa
Life’s full of surprises; unexpected expenses often hit, and your paycheck falls short. But don’t stress. Payday loans in Ottawa can help you get back on track.
Whether you’re facing a mountain of bills or need cash for a sudden repair, a payday loan in Ottawa is the perfect solution. It’s fast, easy, and convenient. We’ve researched and compiled these 12 top payday lenders so you can make an informed decision without the hassle.
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FAQs on Payday Loans in Ottawa
Do payday loans affect your credit?
You do not have to worry about your credit scores being affected by payday loans because they are generally not reported to the three major national credit bureaus.
Do payday loans affect getting a mortgage?
You can get a mortgage or remortgage with a payday loan, but lenders may be wary of you if you have taken out a payday loan in the last six years.
What happens if you don’t pay back a payday loan in Canada?
Your debt will increase if you fail to repay the loan on time, as you’ll incur more fees and interest charges.
Is a payday loan the same as an instalment loan?
A payday loan is not the same as an instalment loan. Because payday loans are often paid back in a lump amount on your next paycheck, this is the case.
