We Tell You Exactly About Disrupting the Payday Lending Industry

In Canada, there are over 1,300 payday lending outlets offering acutely costly but fast and effective approaches to borrow short-term cash. Payday loan providers charge between $15–25 in costs per $100 borrowed for a fortnight, causing yearly portion prices of up to 500 %. In comparison, Canadian legislation prohibits other loan providers from charging significantly more than 60 % yearly interest on loans. The use of payday lenders continues to increase despite the high cost of borrowing. From...

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