Best Payday Loans Mississauga, Ontario 2019

Compare the best lenders in this region:

	Loan Amount	Rate	Term (Months)	Rating	Rating
1562198400	$500 - $15,000	15.99 - 39.99%	6 - 60		4 / 5
1560124800	Up to $15,000	29.99% - 46.96%	9 - 60		4 / 5
1545955200	-	-	24		5 / 5
1552262400	$1,000 - $15,000	19.90% - 46.90%	12 - 60		4 / 5
1551830400	$100 - $1,000	546% APR	14 days		2 / 5
1569974400	$500 - $50,000	15 - 30%	-		5 / 5
1551830400	$1,000 - $15,000	19% - 46.95%	6 - 60		4 / 5
1551398400	Up to $1,500	15% - 19%	14 days		4 / 5
1551398400	$100 - $1,500	15% - 17%	14 -31 days		4 / 5
1551398400	$500 - $1,000	28% - 32%	-		5 / 5
1551398400	-	-	14 days		3 / 5
1541030400	Up to $35,000	5.15%+	-		5 / 5
1546128000	Up to $5,000	19.9% - 45.9% APR	6 - 36		4 / 5
1551139200	$250 -$1,250	29%	3 - 6		5 / 5
1551139200	$5,000 - $35,000	9.9%+ APR	36 - 60		3 / 5
1551139200	Up to $15,000	46.93% APR	-		5 / 5
1550534400	$300 - $25,000	7.95%+	36 - 60	-	-
1550534400	$100 - $1,500	-	14 days		3 / 5
1569974400	Up to $1,500	15% - 23%	-		5 / 5
1550534400	Up to $1,500	Up to 59% APR	14 days		2 / 5
1550534400	$2,500 +	-	-		5 / 5
1550534400	$500 - $1,000	28% - 32%	3 -5		5 / 5
1550534400	$300 - $1,000	38% APR	3 - 4		5 / 5
1549411200	$100 - $1,000	546% APR	14 days		2 / 5
1549411200	$1,000 -$15,000	46.93%	12 - 60		2 / 5
1549238400	$500 - $1,000	28% - 32%	4 - 5		2 / 5
1549238400	$100 - $1,500	90% - 390% APR	14 days		5 / 5
1549238400	$250 - $1,000	29% APR	3 - 4		3 / 5
1548720000	$500 - $1,000,000	12%	12		5 / 5
1548720000	$1,000 - $50,000	4.6% – 49.96%	3 - 60		5 / 5
1548633600	$300 - $7,500	29.9% - 39.9%	6 - 60		5 / 5
1548633600	$50 - $1,500	-	14 days		2 / 5
1545955200	Up to $20,000	19% - 49%	36 - 48		4 / 5
1545264000	$2,000 - $10,000	-	12 - 60		5 / 5
1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36		4 / 5
1545264000	$500 – $10,000	Starting at 9.90%	12 - 36		5 / 5
1545264000	Up to $30,000	19.99% – 39.99%	Up to 60		2 / 5
1545177600	$2,000 – $10,000	34.9% – 43%	12 - 60		4 / 5
1545264000	$500 - $12,500	19.99%+	12 - 60		4 / 5
1545350400	Up to $1000	30%	3 - 5		3 / 5
1545350400	Up to $5,000	60%	6 - 60	-	-
1545350400	Up to $3,000	22% - 35%	3 - 4		5 / 5
1545350400	Up to $7,000	-	6 – 60		5 / 5
1545350400	$500 - $2,500	29% - 46.95%	6 - 36		5 / 5
1545350400	$500-$1000	28%-32%	3		4 / 5
1545350400	$500 – $750	28% – 34.4%	3		4 / 5
1545350400	$500 – $750	23% - 34.4%	3 – 12		4 / 5
1545350400	$300 - $1500	27% - 35%	3 - 4		4 / 5
1545264000	$500 - $35,000	29.99% – 46.96%	9 - 60		3 / 5
1545264000	$300 – $35,000	5.9% - 45.9%	24 - 60		4 / 5
1568937600	$50 – $10,000	-	Up to 62 days		5 / 5
1545177600	$1,000 - $35,000	5.99% to 29.19%	36 - 60		5 / 5
1545177600	Up to $20,000	19.99% - 46.8%	6 - 60		5 / 5

	Loan Amount	Rate	Term (Months)	Rating	Rating
1545955200	$5,000 - $150,000	5.49% - 22.79%	12 - 60		5 / 5
1552262400	$500,000 - $10,000,000	-	-		5 / 5
1552262400	-	Competitive	-		5 / 5
1541030400	Up to $35,000	-	-		5 / 5
1552262400	-	-	-		5 / 5
1552262400	Up to $250,000	-	Up to 10 years		5 / 5
1552262400	-	-	-		5 / 5
1552262400	Up to $1,000,000	-	-		5 / 5
1551830400	Up to $100,000	-	-		5 / 5
1551830400	$10,000+	-	Up to 15 years		5 / 5
1551830400	Up to $1,000,000	-	Up to 15 years		3 / 5
1551830400	Up to $500,000	-	Up to 10 years		3 / 5
1551830400	$5,000 - $10,000	-	Up to 7 years		5 / 5
1551398400	$3,500+	-	-		5 / 5
1551398400	$5,000+	4.9% - 24.99%	18 - 48		5 / 5
1551398400	$10,000 - $1,000,000	4% - 14%	12 - 84		5 / 5
1551139200	Up to $75,000	-	Up to 18		5 / 5
1550534400	$500-$50,000	0.5% weekly	12 week cycles		5 / 5
1550534400	$1,000 - $1,000,000	6% - 20%	-		5 / 5
1550534400	Up to $5,000,000	4.5%	24 - 72		5 / 5
1550534400	$5,000 - $200,000	-	-		5 / 5
1549411200	$50,000 - $12,000,000	-	24 - 96		5 / 5
1549411200	$5,000 - $1,000,000+	-	1 - 60		5 / 5
1549238400	$5,000 - $1,000,000	-	3 - 24		5 / 5
1548720000	$5,000 - $5,000,000	-	4 - 18		5 / 5
1548720000	Up to $100,000	6.05% +	60		2 / 5
1548720000	$10,000+	18% - 22%	-		5 / 5
1548720000	$10,000 - $300,000	4.70% - 5.45%	-		5 / 5
1548633600	Up to $5,000,000	5% - 10%	12 - 60		5 / 5
1545177600	$1,000 - $35,000	5.6% – 25.5%	36 – 60		5 / 5
1545264000	$5,000 - $250,000	-	3-18		5 / 5
1545264000	$5,000 - $150,000	-	3 - 24	-	-
1545350400	$5,000 – $100,000	15% +	12 – 18		5 / 5
1545264000	$5,000 – $100,000	Starting at 6.87%	3 – 18		5 / 5
1545177600	$5,000-$250,000	9.99%	6 - 24		5 / 5
1545177600	$10,000 – $300,000	Starting at 6.99%	4 – 18		5 / 5
1545177600	$5,000 – $500,000	Starting at 5.9%	3 – 60		5 / 5
1561507200	Up to $300,000	-	-		5 / 5

	Loan Amount	Rate	Term (Months)	Rating	Rating
1569974400	$7500 - $59,995	3.95% +	12 - 96	-	-
1562112000	-	Up to 49.9%	-	-	-
1561507200	-	-	-		5 / 5
1561507200	-	-	Up to 84 months		5 / 5
1560124800	$500 - $35,000	$29.99% – 46.96%	9 - 60		5 / 5
1551830400	Up to $30,000	-	-		5 / 5
1551830400	Up to $25,000	5.75% - 9.9%	12 - 60		5 / 5
1550534400	-	-	-		5 / 5
1548720000	-	-	-		5 / 5
1548633600	-	4.2%+	-		5 / 5
1545955200	Up to $20,000	19% - 49%	36 - 48		4 / 5
1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36		4 / 5
1545177600	Up to $50,000	-	-		5 / 5
1545177600	$5,000 – $40,000	-	12 – 72		5 / 5
1545177600	-	-	Maximum 84		5 / 5

	Loan Amount	Rate	Term (Months)	Rating
1545955200	Up to $20,000	19% - 49%	36 - 48	4 / 5
1545264000	$500 – $10,000	Starting at 9.90%	12 - 36	5 / 5
1545264000	Up to $25,000	-	12 - 60	5 / 5

	Loan Amount	Rate	Term (Months)	Rating
1560124800	-	2.89% - 3.79%	-	5 / 5
1548720000	-	2.41% - 3.84%	-	5 / 5
1548720000	-	-	-	5 / 5
1548633600	-	-	-	5 / 5

Contents

1. What is the Payday Loan Cycle?

2. The Warning Signs of Predatory Lenders

3. What are Some Payday Loan Alternatives in Mississauga?

4. Payday Loans Alternatives to Meet Your Needs

There are many benefits that go along with living in Mississauga, one of the largest cities in Ontario. However, you are going to have to pay for them. This is because Mississauga is not only one of the most expensive places to live in Canada but in all of North America.

Learn about how Ontario residents are struggling with payday loans, click here.

While some people make enough or have enough to afford these high costs, others struggle and need to borrow money. Most consumers are able to gain access to decent loans, but it’s also common some consumers to get stuck with expensive, strict and sometimes predatory payday loans. Payday loans are same day loans typically for the amount of $1000 or less. They often come with large interest rates, are easy to get, and often need to be paid back by your next payday. They are primarily used when someone needs a bit of cash to hold them over until their next payday.

Do you what the true cost of borrowing is? Find out here.

What is the Payday Loan Cycle?

While not all payday loans are bad, many can get people stuck in the payday loan cycle of debt. The payday loan cycle of debt is when someone gets stuck in a constant cycle of having to get a new payday loan to pay off their last one. The cycle begins when a person has some sort of financial emergency and needs quick access to cash. With no other type of assistance being as fast or easy as a payday loan, they go out and get one.

However, because of the interest rate, the short repayment period, and any additional financial issues, it’s next to impossible to completely recover by your next payday. Because you cannot afford to pay back this loan, you take out another one to pay it back. The cycle continues and consumers get stuck in it for months or even years, which is extremely problematic for your finances and credit.

So just how do you get out of this loan cycle of debt if you find yourself in it? Well, there are a few different options you have and the one you try will depend on your unique situation and needs. You can:

Consolidate your debt to take advantage of a more manageable interest rate
Seek the help of a credit counselling organization
Consider entering a debt management program
Ask your friends or family for a loan to pay off your payday loans

These options can help you break free from the payday loan cycle of debt and get back on track.

Check out this infographic for more information about the payday loan cycle.

The Warning Signs of Predatory Lenders

Not all payday loans are bad, but there is a better chance of them being predatory than just a standard loan. Predatory loans exist to take advantage of the borrower and provide as much money as quickly as possible to the lender. Some warning signs of predatory lenders in Mississauga include:

Large interest rates
Unexplained fees or charges
Asking for upfront payment or “loan insurance”
Rushed approval or looking to speed up the process
Making large promises or exuberant claims

Remember, it’s not always easy to see if a loan is predatory right from the start, so be sure to take time and evaluate any loan and all of its terms and conditions. If something seems too good to be true or simply makes you feel uneasy, it is a good idea to listen to your feeling and steer clear of it.

When it comes to payday loans, it’s important to know your rights.

What are Some Payday Loan Alternatives in Mississauga?

While many people continue to utilize payday loans, they rarely make sense in anything but extreme cases. Instead, there are plenty of alternatives to payday loans that are cheaper, less predatory and just as easy to get most of the time. Some of these payday loan alternatives include:

A standard installment loan
Borrowing from friends and family
Credit cards (aren’t much better, but generally will have better rates)
Vehicle title loans if you own your vehicle
HELOC or second mortgage if you have a decent amount of equity in your home

Now, this isn’t saying to not get a payday loan if it is your only available option, just that there are usually better ways for you to secure the money that you need. Any of these options are a good one, and will likely save you money in the long run.

Payday Loans Alternatives to Meet Your Needs

While a payday loan can be the right option in certain situations, there is almost always a better alternative. If you want to learn more about payday loans and their alternatives or seek out a quality lender in your area, don’t hesitate to reach out to Loans Canada.

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Posted by Kale Havervold

After dipping his toes into freelance writing while still enrolled in school, Kale decided to pursue freelance writing as his career after earning his Bachelors degree from the University of Regina. In his six-year career as a professional writer, Kale has focused on writing about finance, technology, cryptocurrency, entertainment, and sports. Kale work has been published on Yahoo, RentHop, the Regina Leader-Post, and ReboundFinance.com. Kale loves to create a wide variety of personal financ...