GET UP TO $1,500! APPLY NOW!

GET CASH IN AS LITTLE AS 30 MINUTES*

When you are in need of quick cash, Mr. Payday has got you covered! We have been helping canadians with their short term loan needs since 2002.

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How Our Loan Process Works

Apply Online

Applying for a loan with Mr. Payday is easy and fast. Fill out our simple and secure application form.

Get Approved

It usually takes about 30 minutes to get approved for a payday loan during our business hours.

Instant Funding

Once your loan application is approved, you will receive an e-mail money transfer withing 30 minutes.

What Our Customers Have To Say

Excellent customer service
Excellent customer service
Customer
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Excellent customer service! Easy application and approval. Highly recommend.
Excellent service
Excellent service
Customer
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Excellent service. Pretty easy and quick!!
Fast
Fast
Kris D
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Fast, easy and no nonsense. Best loan experience of mine to date. Thanks for helping out Mr. PAYDAY.
Quick and easy service
Quick and easy service
Customer
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Quick and easy service! Would definitely recommend!
Customer service was quick and awesome…
Customer service was quick and awesome…
Customer
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Customer service was quick and awesome to deal with. There wasn’t the back and forth hassle, and everything was handled in a timely matter. Great job on efficiency, well done all. Thanks
Very accommodating and fast!!
Very accommodating and fast!!
Customer
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Very accommodating and fast!!! and super easy!
The agent I spoke to was patient and…
The agent I spoke to was patient and…
Customer
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The agent I spoke to was patient and made the whole process very easy.
I was impressed how quickly Payday…
I was impressed how quickly Payday…
Customer
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I was impressed how quickly Payday expedited the application and delivered on the loan. Barry Upshaw
I was impressed how quickly Payday…
I was impressed how quickly Payday…
Customer
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I was impressed how quickly Payday expedited the application and delivered on the loan. Barry Upshaw
Excellent service
Excellent service
Customer
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Excellent service. Fast and helpful. Easy to fill application. It was fast and easy
Very fast approval
Very fast approval
Andrew S.
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Very fast approval and very easy to deal with staff.
Easy to deal with super simple proccess
Easy to deal with super simple proccess
Levon James
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Easy to deal with super simple proccess
Super fast and friendly
Super fast and friendly
Cory Thompson
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Super fast and friendly. Exceeded my expectations.
Friendly and fast
Friendly and fast
Customer
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Mr. Payday was there for me when everyone else said no. From their pov I may be considered a risk. I'm grateful they reached out with an offer.
Was easy to fill in the application and…
Was easy to fill in the application and…
Marg
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Was easy to fill in the application and was quick to receive the funds.
Happy Customer!
Happy Customer!
Mark
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Been dealing with Mr. Payday for a couple years now. Always friendly service, quick, and well worth my time!
Easy
Easy
Customer
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Easy, fast and user friendly application process. Thank you Mr. Payday
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Why Get A Loan From Mr. Payday?

Trusted Lender

Mr. Payday has been in business since 2002

Same Day Funding

Do not wait. Get money the same day you get approved for a loan

Superb Service

We are here to help. Give us a call or send us an email

No Faxing Required

We use instant online validation. No faxing or emailing required

High Approval Rate

We have personalized approach to every loan application

Easy Application

Our online application only takes 5 minutes to complete

Loans with Bad Credit Rating

Loans with Bad Credit Rating-A Sign of Relief

Most if not all loans for bad credit can be put in two major categories, secured and unsecured loans. Secured loans are the kind of bad credit loans which you will be required to have collateral before your application can be approved while for unsecured bad credit loans, no collateral is necessary. Many people are faced with a dilemma when required to decide on which one to go for due to lack of knowledge about each loan and the particulars attached to it. This is the reason why a large number of people with bad credit status will opt for unsecured loans without knowing what they stand to gain from secured bad credit loans with bad credit rating.

Benefits of Secured Over Unsecured Loans with Bad Credit Rating

Picture of Loans with Bad Credit Rating - Get Cash Instantly!The main advantage of secured loans is one can be granted a larger amount for it than the case is for an unsecured loan. Due to the fact that the lender feels safer dealing with you because of the collateral you have attached to the loan, he or she won’t have doubts giving you as much money as you may require. Although the amount given also depends on the value of the collateral which you have put for the loan, generally, secured loans with bad credit rating earn high amounts. This makes them the most suitable option to take when in need of a large sum of money usually for handling major financial demands.

The interest rate charged for bad credit loans is often a very important aspect considered during borrowing. Here also, secured loans are charged lesser interests rates as compared to unsecured interest rates for the lender is sure that he will get his money back. With relatively lower interests, the borrower not only has a reduced principal loan amount to repay but will also have an easier time doing so because of the reduced monthly payments as a result of lower loan interest. Being able to meet your payments is therefore more possible when talking about secured loans with bad credit rating.

The last main advantage when it comes to secured loans for bad credit is the long repayment period normally considered for such loans. In most instances, the repayment period will be long enough to comfortably allow you to pay the loan in addition to making your monthly payments much lesser. Following the agreed upon repayment plan is as a result quite easy with secured loans that the case with unsecured loans with bad credit rating.

On the other hand, the reason why many people love unsecured loans with bad credit rating is the fact that they do not have collateral requirements. If unfortunately, repaying the loan proves to be difficult for a consumer, he will not be worrying about getting his assets for instance his home taken to cover the loan debt. Though there are some situations where the same can be done, it usually has its limitations unlike the case with secured bad credit loans. The fact that ones house of any asset they have attached to the loan for that matter can be taken if he defaults payment is therefore the only risk associated with secured loans.

However, for unsecured loans, first and foremost one must rest assured that the interest rate will be very high meaning an even higher monthly payment amount due to the high risk taken by a lender in giving you the money. Remember this will make paying the loan a bigger huddle than you may think. In addition, lenders in many cases will give lower amounts for unsecured loans making them inappropriate when large funding is needed. In a nutshell however, when choosing between unsecured and secured loans with bad credit rating, it all boils down to what suits you best and how well you have analyzed your situation, not always will a secured loan serve you best and vice versa.