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Viva Payday Loans > Payday Loans Canada > Payday Loans With Government Benefits Canada

Payday Loans With Government Benefits Canada

Payday loans are readily available across Canada, but can you get payday loans with government benefits Canada too? It would certainly solve many financial woes for those on benefits who are in a short-term financial pickle, wouldn’t it? So whether you need to afford household or vehicle repairs, pay for an emergency or settle a medical bill, payday loans with government benefits online Canada may be just what’s needed to save the day. 

Read on to learn more about payday loans with government benefits Canada, how they work, the features and pros/cons, and how you can go about applying for such a loan online with minimum hassle.

What Are Payday Loans With Government Benefits & How Do They Work?

For many Canadians, payday loans with government benefits online Canada are a lifesaver. But, if you’ve encountered financial hurdles, you may benefit from them too.  

Payday loans with government benefits Canada are designed to be paid back quickly. As a result, they are small amounts of money that are paid back in a fairly short space of time. For instance, you can pay off a $200 loan in less than six months. And you can expect an easy-to-understand loan model when applying for payday loans. 

How do payday loans benefit people who receive government assistance? It’s quite straightforward. The lender gives a one-time loan to the borrower, who pays it back in affordable monthly payments. Viva Payday Loans is an online payday loan provider willing to assist individuals with government benefits as long as they earn the minimum income requirement and meet the other eligibility requirements. 

Types of Payday Loans With Governments Benefits Canada

There are several types of payday loans with government benefits Canada that you can apply for. You will find that each is suited to a different set of needs – there’s a payday loan for everyone! For example, consider the following types of payday loans if you’re on Canadian government benefits:

Same Day Payday Loans With Government Benefits

Waiting around for a loan to pay out is uncool. The Viva Payday Loans panel of lenders won’t keep you waiting around when your loan is approved. The lender will look at your bank statements and recent earnings (whether through a job or alternative sources) and determine if you’re eligible for a loan. If you are, and your loan is approved, you can get the cash paid into your account within 60 minutes. Sometimes, you may have to wait until the next business day.

Unsecured Payday Loans With Government Benefits Online Canada

Unsecured payday loans with government benefits online Canada are simple to set in place. While they are readily available, it’s important to note that because they are unsecured (there’s no collateral or co-signatory required), they are usually of a small amount, and come with a high interest rate attached. At Viva Payday Loans, our unsecured payday loans with government benefits Canada are available in amounts of $100 to $5000 and can be repaid over 3 to 24 months.

Payday Loans With Government Benefits Bad Credit

If you have bad credit, you may feel like you have to avoid all payday loan offers for fear of having your credit checked. Most people look out for payday loans with government benefits Canada no credit check* to avoid their credit score ruining their chances of approval. First and foremost, Viva Payday Loans won’t check your credit, but lenders offering the various packages might. That said, some packages are designed to be payday loans with government benefits bad credit, which means you can use these loans to build your credit. Of course, that will require you to apply for an amount you can afford and ensure that you make your installment payments on time and in full. 

Disclaimer: Whilst Viva Payday Loans in Canada doesn’t check your credit, your credit may be checked by one or more of our lending partners and their third-party credit bureaus upon submission of your request, or at a later date. Further information can be found in our terms and conditions. 

The operator of this website does not make any credit decisions. Independent, participating lenders that you might be matched with may perform credit checks with credit reporting bureaus or obtain consumer reports, typically through alternative providers to determine credit worthiness, credit standing and/or credit capacity. By submitting your information, you agree to allow participating lenders to verify your information and check your credit. 

Features Of Payday Loans With Government Benefits Online Canada

When applying for payday loans with government benefits online Canada, you can expect the packages on offer to share the following features:

Apply Once For Multiple Considerations

Why apply with one lender when you can apply with an entire panel of lenders with just one application? For example, when you apply for payday loans with government benefits on the Vivapaydayloans.com/ca website, you input your particulars just once, and the lender does what they can to find the loan that’s best suited to your needs. This approach increases your chances of approval while saving you time and effort.

Immediate Payouts

If you’re looking for the type of payday loans with government benefits Canada that make a habit of paying out quickly, your best bet is with the lenders on the Viva Payday Loans panel. Whether you’re looking for payday loans with government benefits Canada bad credit or payday loans with government benefits Canada no credit check, you can expect approved loans to be paid out in as little as just 60 minutes. If there’s a delay for any reason, you will get the cash into your account within 24 hours. 

Varying Interest

How much a lender will charge you in terms of interest all depends on your credit score, how much you earn, and what your current monthly expenses are. When using the Viva Payday Loans loan-finder service, you will have access to lenders offering varying interest rates of between 5.99% and 35.99%. 

Examples Of Payday Loans With Government Benefits Canada

Lender APR Loan Amount Min Credit Score Funding Time
Avant 9.95% to 35.99% $2,000 to $35,000 580 24 hours
Rise Credit 50.00 – 299.00% $500 – $5,000 None 24 hours

These are just examples and are subject to change.

Advantages And Disadvantages Of Payday Loans With Government Benefits Online Canada

Advantages

Quick Cash In Your Account

There’s nothing better than having money readily available when you’re cash-strapped. When taking out a loan through Viva Payday Loans, you may anticipate receiving your funds in a timely manner. In most situations, the delay (if there is one) is generally no longer than a day. Payday loans with government benefits Canada are particularly beneficial since they give immediate cash and accept alternative sources of income, making them ideal for individuals who get their income from government benefits and other forms of income. The majority of lenders provide payments within 60 minutes or by the next business day.

Alternative Forms Of Income Accepted

To apply for payday loans with government benefits Canada, you will need to earn a minimum of $1000 per month. That said, you don’t have to have a regular or traditional job to make that amount of money each month. Viva Payday Loans and the lenders on the panel accept alternative forms of income, such as rental income, trust payments, dividends, inheritances and more. 

Flexible Loan Amounts To Choose From

Numerous borrowers require a few hundred dollars to go from one pay period to the next, but others may need a larger sum to cover large purchases or unforeseen bills. The good news is that Viva Payday Loans offers payday loans with government benefits Canada in several amounts ranging from $100 to $5000 with 3 to 24 months to pay.

Disadvantages Of Payday Loans With Government Benefits Online Canada

Expensive

Unfortunately, any payday loan that’s not directly from the traditional bank will come with high interest attached.

Eligibility Criteria For Payday Loans With Government Benefits Canada

You qualify for payday loans if you’re on government benefits and meet the following criteria:

  • You’re at least 18 years of age.
  • You’re a legal resident or citizen of Canada
  • You have a valid form of ID
  • You have proof of address (utility bill)
  • Your benefits and alternative income streams some to more than $1000 per month
  • You have the supporting docs on hand: bank statements (3 months) pay stubs (3 months)
  • You have an active Canadian bank account and mobile number

Apply For Payday Loans With Government Benefits Canada Bad Credit

Below are four steps to apply for payday loans with government benefits Canada via the Viva Payday Loans website.

Step 1: Choose Your Loan Amount

With Viva Payday Loans, you may borrow up to $5,000 when applying for payday loans with government benefits online Canada. Select the amount you wish to borrow and how long you want to pay it over. You will have the option of 3 to 24 months for repayment.

Step 2: Complete The Quick Online Application

The online form is easy to access in the top right-hand corner of your screen. Simply click on “Apply” and fill in your details. The online form will prompt you for the required information. It’s a good idea to have your supporting documents on hand just in case the lender asks you to send or upload digital versions of them. 

Step 3:  Get A Loan Application Outcome In Two Minutes

When you apply for payday loans with government benefits, you won’t be kept waiting around for an outcome. Instead, the lenders work hard to ensure that applications are processed quickly. Within 2 minutes of submitting the application form, you will be advised if you’re able to get a loan or not. If you’re eligible, you can be transferred to the lender or broker offering the deal. Finalizing the deal is simple and will also only take a few minutes.

Step 4: Get The Loan Agreement & Get Your Cash

Once all the details are in order, the lender will furnish you with a loan agreement. Reading through the contract to ensure you fully understand the terms is imperative. Once you have asked questions and feel comfortable with the proposed deal, you can sign it and send it back to the lender. After that, the lender will pay the cash into your account.

FAQ’s

Can I Get A Loan On Benefits In Canada?

If you have been receiving pension, disability, child tax, employment insurance, AISH, ODSP and other Canadian government benefits for at least three months, earn at least $1000 per. Month, you can apply for a payday loan, no problem!

Where Is It Easiest To Get Payday Loans With Government Benefits Canada?

Not all lenders view benefit recipients favourably. If you want to ensure you get the chance of loan approval while receiving government benefits, it is best to use a loan-finder service online such as Viva Payday Loans in Canada. Here, the automated system will link you with lenders most likely to approve your loan request based on your financial situation.

Can You Get Payday Loans With Government Benefits Online Canada Instantly?

You will be surprised at the quick turnaround on loans that some Canadian short-term lenders offer. For example, when using Vivapaydayloans.com/ca, you will find that most lenders provide 60-minute payments when loans are approved. Of course, it’s important to note that this cannot be guaranteed, so it’s best to set your sights on receiving the cash within 24 hours.

What Is The Minimum Income To Get Payday Loans In Canada While On Benefits?

Your benefits and other income streams must come to at least $1000 per month to qualify for loans through the Viva Payday Loans portal.

How Will I Receive My Loan If I Apply For Payday Loans While On Government Benefits Canada?

You can apply online for payday loans with government benefits Canada just like every other lender would. If the loan is approved, the cash will be transferred into your account via e-transfer.

Will Getting Payday Loans With My Government Benefits Affect My Government Benefits?

No, your government benefits are entirely safe when you get a loan because benefits are not considered as actual employment income.

I Have No Proof Of Income! How Can I Get A Payday Loan In Canada?

Firstly, if you’re not traditionally employed, you need to find a lender willing to accept alternative forms of income. Then, you can use your bank statements, income statements, and recent tax returns to prove your income. 

Disclaimer: Whilst Viva Payday Loans in Canada doesn’t check your credit, your credit may be checked by one or more of our lending partners and their third-party credit bureaus upon submission of your request, or at a later date. Further information can be found in our terms and conditions. 

The operator of this website does not make any credit decisions. Independent, participating lenders that you might be matched with may perform credit checks with credit reporting bureaus or obtain consumer reports, typically through alternative providers to determine credit worthiness, credit standing and/or credit capacity. By submitting your information, you agree to allow participating lenders to verify your information and check your credit.