Cash advance company licence : Get a licence to provide payday advances to borrowers in Alberta

A quick payday loan means:

  • any development of income by having a principal of $1,500 or less and a phrase of 62 days or less manufactured in exchange for a post-dated cheque, a pre-authorized debit or the next source weblink re payment of an identical nature, yet not for just about any guarantee, suretyship, overdraft protection or protection on home rather than through a margin loan, pawnbrokering, a personal credit line or a charge card.

There is certainly a 1 or licensing that is 2-year, payable to your federal federal Government of Alberta.

  • For one-year licences – a licensing cost of $1,000 for the licence together with very first location plus $500 for every extra location specified in the application
  • For 2-year licences – a licensing cost of $2,000 for the licence together with location that is first $1,000 for every single additional location specified regarding the application

How exactly to use

You need to finish a credit card applicatoin type, an addendum kind, offer a safety, give a copy for the company’ standard loan contract and spend a certification cost. 続きを読む Cash advance company licence : Get a licence to provide payday advances to borrowers in Alberta