A1 Financing & Loans - Advances, loans, mortgages

 

Woman with cashPay Advances

Pay Advances are becoming more and more in demand as working people find themselves faced with unexpected bills and expenses and need a little help to get through these times. After all, most of us have faced or will face financial difficulties from time to time. That is why our well trained staff can be of great help to you.

Since Pay Advances are just as the words imply, an advance on your next pay, the loans that we make to you are due to be repaid when you receive your employer’s pay.

To qualify for a Pay Advance Loan you must be able to meet ALL the requirements:

  • Be employed (minimum of 3 months).
  • Have an active bank account; we will require a bank statement showing your last two payroll deposits going in to your bank account. The statement has to be current (to the day you are applying for the loan).  A bank statement is required each time you apply for a loan.
  • Be of legal age (19 and over).
  • Have a permanent address for which we will need documentation, ex; Bill/rent receipt.
  • A Pre-Authorized Bank Payment Form completed by your bank and stamped "Authorized" by your bank with their Official Bank Stamp.
  • A government issued Picture ID and a copy of your SIN number.

If you qualify, the maximum we will lend you on your first 3 loans will be $500.00.  Once you establish a good credit rapport with us we will be able to increase your loan limit.

How do you receive your Pay Advance Loan? 

If this is your first time and you are not close to one of our offices, you will receive your advance in an e-mail money transfer or direct deposit in to your bank account. If you apply at one of our offices, you will receive an ATM card. This card will be loaded and reloaded for any loans you may make from us.  Advantages to having our ATM cards are that you will receive your advances and access your advance money anywhere within Canada and in any other country out of Canada that uses ATM machines.

Documents we will need: 

  • A completed Loan Application Form,
  • your bank statement, 
  • a pre-authorized bank payment form from your bank,
  • a copy of your S.I.N. card or any documentation that has your S.I.N. on it (for example - a paystub, a government letter or a tax document) 
  • a picture ID, and
  • an invoice or receipt to verify your current address.

How do you re-pay? 

Depending on your bank, prior to the day your loan is due we will apply to your bank for payment using the pre-authorized form you originally gave us which will debit your bank account the day the loan is due. On the day of your pay you have the options to pay your account:

  • by directly depositing your payment in to our account, or
  • by e-mail money transfer.

Caution: If you require another loan, your pre-authorized payment may take several business days to clear your account so a waiting period is required before borrowing again. Using direct deposit or e-mail money transfer will allow you to borrow again at any time.

If your pay is reduced or you run in to a payment problem, call and speak to one of our staff members and we will work out a re-payment plan for you. By following this simple procedure your ability to borrow next time and your credit with us will not be affected.  Communication is important in all relationships, business or personal.

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To learn more about your rights as a payday loan borrower in Manitoba, contact the Consumer Protection Office at 204-945-3800, 1-800-782-0067 or at www.gov.mb.ca/cca/cpo/