Trust check
Is Focus Financial Inc. legit?
Focus Financial is licensed, keeps an active social media presence and has been in business for more than ten years. However, it has no BBB profile and is not CLA certified.
Focus Financial Inc.: Overview
Focus Financial is an online payday lender that lends $100 to $1,500 with no credit check. It serves Alberta, British Columbia and Ontario.
The application takes about five minutes, there is nothing to fax or upload, and approved funds can reach you within minutes. Focus Financial holds a payday lending licence in all three provinces it lends in.
Are You The Right Borrower For Focus Financial?
A payday loan from Focus Financial could be a good fit for you if:
- You Need Money Within The Hour: You can borrow anywhere from $100 to $1,500, and once you are approved the funds can land within minutes, which matters when something cannot wait until tomorrow.
- You Want A Short Application: The form takes about five minutes and there is nothing to print, scan or fax.
- Your Credit Score Is Low: There is no credit check. Approval is based on your income, so a poor score will not stop you.
- You Can Repay On Your Next Payday: A payday loan is built to cover a short gap, not a long one.
- You Live In Alberta, BC Or Ontario: Those are the three provinces Focus Financial is licensed in.
What They Offer
Focus Financial offers one product, a payday loan, in three provinces.
Payday Loan
$14 per $100 borrowedA short term loan against your next paycheque. No credit check, a five minute application, and funds in minutes once you are approved.
Loan Features
- A Five Minute Application: When you apply, the form takes about five minutes and there is nothing to print, scan or fax.
- Money In Minutes: Once your application is approved, the funds can reach you within minutes rather than the next day.
- No Credit Check: When you apply, your credit score is not pulled, so a rough credit history does not count against you.
- Borrow Again Without Starting Over: If you have borrowed and repaid before, there is a separate reloan route, so you do not fill in the whole application a second time.
- You Can Verify The Licences: Alberta, BC and Ontario each come with a licence number you can check against the provincial register before you apply.
Who Qualifies
| Requirement | What Focus Financial asks for |
|---|---|
| Credit score | No credit check |
| Age | 19 or older |
| Income | Employed, or receiving CPP, private pension, EI, WCB, CTC or non-government disability benefits |
| Minimum income | At least $1,200 net per month |
| Bank account | An active chequing account open at least three months, with your income directly deposited into it |
| Contact | A telephone number you can be reached at |
| Documents | Your bank statement, submitted electronically after you apply. Nothing to email or fax |
| Loan size | $100 to $1,500 |
| Availability | Alberta, British Columbia and Ontario |
| How you apply | Online |
How To Apply
What A Focus Financial Loan Costs
Focus Financial charges $14 per $100 borrowed, which is the maximum allowed in all three provinces it lends in.
| Province | You borrow | Cost of borrowing | You repay | Over |
|---|---|---|---|---|
| Ontario | $500 | $70 | $570 | 14 days |
| British Columbia | $300 | $42 | $342 | 14 days |
| Alberta | $300 | $42 | $342 | 14 days |
Focus Financial vs Credit Club vs Mr. Payday
Comparing Focus Financial Inc., Credit Club and Mr. Payday on loan amount, interest rate, term, availability, funding time, funding method, repayment options, eligibility and required documents, as listed by each lender.
| Feature |  Focus Financial Inc. Payday Loan Learn more |  Credit Club Short Term Loan Learn more |  Mr. Payday Payday Loan Learn more |
|---|---|---|---|
| Loan amount | $100 – $1,500 | $100 – $1,500 | $100 – $1,500 |
| Interest rate | $14 per $100 | $14 per $100 | $14 per $100 |
| Term | Next payday | Up to 62 days | 14 – 31 days |
| Available in | AB, BC, ON | BC, NS, ON | AB, BC, ON |
| Funding time | Within minutes of approval | 1 business day | Within 24 hours |
| Funding method |
| Direct deposit | Interac e-Transfer |
| Repayment | Automatic debit | Automatic debit | Automatic debit |
| Eligibility |
|
|
|
| Requirements & documents |
| Not listed |
|
Figures are as listed by each lender and can change. Check the lender's site before you apply.
Where Focus Financial Is Licensed
What Else Could Cover This
Borrowing at $14 per $100 is expensive for a two week gap. Before you apply, it is worth seeing whether one of these gets you there instead.
An Advance On Pay You Have Already Earned
Many employers will release part of your pay early, and most do it at no cost. It is worth one conversation with whoever handles payroll, because you are not asking to borrow, you are asking for money you have already worked for.
A Payment Plan From The Company You Owe
If a specific bill is driving this, phone them before you borrow. Utilities, landlords, insurers and phone providers routinely move due dates or split a payment in two, and none of them charge you $42 to do it.
A Small Loan Or Line Of Credit From A Credit Union
Credit unions tend to look at more than a score, and anything they offer is capped at 35% APR under federal law. On $300 over two weeks that is roughly $4 of interest, against $42 here. You will need to pass a credit check.
Overdraft On The Account You Already Have
Around $5 a month plus about 21% interest on what you actually use. It is worth asking your bank whether you can add it, ideally before the next time money runs short rather than during it.
Provincial Emergency Assistance
Alberta, British Columbia and Ontario all run emergency benefit programs for people facing an urgent shortfall, covering things like rent arrears, utility disconnection or food. They are not quick, but they do not have to be repaid, so they are worth a call if your situation is more than a one off.
Focus Financial Pros And Cons
Pros
- Bad Credit Is Not A Problem: When you apply, no credit check is run. Approval comes down to your income, so a low score will not stop you.
- A Very Fast Application: The form takes about five minutes, with nothing to fax or upload.
- Money In Minutes: Once you are approved, the funds can reach you within minutes.
- You Can See The Price Before You Apply: Each province has its own worked example, so you know what a loan costs you before you start.
- Licences You Can Check: All three licence numbers are available, so you can confirm them with your provincial regulator yourself.
- They Are Easy To Find Publicly: Facebook, X and YouTube accounts all exist, which gives you somewhere public to raise a problem if you need to.
Cons
- $14 Per $100 Borrowed: This is the most expensive way to borrow legally in Canada.
- Very Few Reviews, And A Low Score: Trustpilot shows 2.2 out of 5 from only 8 reviews. That is too small a sample to judge the lender by, but it is the only independent feedback available.
- No Better Business Bureau Profile: There is no BBB file to check, so there is no letter rating or complaint record.
- Three Provinces Only: Alberta, British Columbia and Ontario.
- Short Term By Design: The balance plus the fee comes out on your next payday, which is what leads to repeat borrowing.
