FAQs

We're here to help! Can't find your answer? Call us at 1-844-365-LEND, and one of our friendly representatives will be happy to help you.

  • Can I apply for your loans online?

    We are currently working on a system to offer our services online and will have that available soon.

  • Where are you located?

    At this time we have 13 locations in Ontario and are looking to expand our organization across the province and across the country.

  • How do Installment Loans work?

    Borrow up to $5,000. Based on your loan amount and pay cycle, repay your loan in installments over a period of 12 to 24 months. Each payment will be automatically deducted from your bank account, so you’ll never have to worry about missing a payment.

  • What do I need to apply?

    · Be at least 18 years old with a valid ID

    · Active bank account

    · Employment income

     

      Note: You may be required to provide additional documentation.

     

  • How long does it take to get approved and receive funds?

    Funding of the loan is contingent upon confirmation of your application information and signature on all loan agreements. We offer the following two ways to receive your funds.

     

    In-store: same-day cash or Interac e-Transfer

  • Why is it important for me to read and understand my loan agreement?

    The loan agreement you read and sign prior to receiving your loan is a contract between you and the lender. The loan agreement fully outlines the terms and conditions of the loan. It is important that you read and understand the terms and conditions of the agreement. If you have any questions concerning the agreement contact us by calling 1-844-365-LEND.

  • What if I have poor credit?

    We do not pull a credit report. We use assessment tools that verify the accuracy of information on your application and we may review payment history on similar products.

  • Can I pay off the entire loan and if so, is there a penalty?

    You can pay off your loan at any time with no penalties.

  • What is a Payday Loan?

    A Payday loan is an advance of money to help you meet your short term financial needs. Typically, the loan is repaid on your next payday.

  • Why do people choose a Payday Loan?

    Millions of Canadians with steady incomes find that Payday Loans are the perfect solution to their short term financial needs. Sometimes consumers find themselves short on cash and can’t wait until their next payday. A Payday Loan provides quick access to the money they need.

  • Is there a limit to how many Payday Loans I can receive?

    While there is no limit on the number of Payday Loans allowed, you cannot have more than one loan at any time. Our Payday Loan service is meant to bridge your short-term cash needs between paydays.

  • How do I qualify for a Payday Loan?

    In order to apply, you need the following:

    ·  Be at least 18 years old✝︎ with a valid ID

    ·  Active Bank Account

    ·  Employment Income

     

    Note: You may be required to provide additional documentation.

  • Is there a limit to how many Payday Loans I can receive?

    While there is no limit on the number of Payday Loans allowed, you cannot have more than one loan at any time. Our Payday Loan service is meant to bridge your short-term cash needs between paydays.

  • How much can I borrow with a Payday Loan?

    Depending upon your income, province of residence and other criteria, Payday Loan amounts can range from $120 to $1,500.

  • What are the fees associated with a Payday Loan?

    When you apply for a Payday Loan, all applicable fees are stated in the loan agreement. In Ontario, the fee is $15 per $100 borrowed.

  • What if I have poor credit?

    Poor credit will not impact the approval of your loan. We utilize risk assessment tools that verify the accuracy of information on your application and may review customer payment history on similar products.

  • What happens if I can’t make a payment?

    We understand that circumstances can change. If you know you cannot make a scheduled payment, you must let us know as soon as possible and we will do our best to help. Please be aware that unless payment is received, we will consider all options permitted by law to pursue collection of the debt. If you are having an issue making a payment, please contact us at 1-844-365-LEND to discuss your payment options.

  • What if I have poor credit?

    Poor credit will not impact the approval of your loan. We utilize risk assessment tools that verify the accuracy of information on your application and may review customer payment history on similar products.

  • Can I have more than one Payday Loan at a time?

    Due to provincial regulation and lending guidelines, you may only have one loan outstanding at any one time.

  • After I pay off my loan, can I apply for another loan?

    Yes. However, you must wait until your previous payment clears your bank account or has been paid at a store location.

  • What do I need to apply for a Payday Loan?

    It depends. New customers may be required to upload or email the following documents to establish an account:

    ·  Proof employment of income

    ·  An active bank account

    ·  Valid government-issued ID

    ·  Additional documentation may be required

  • Why is it important for me to read and understand my loan agreement?

    The loan agreement you read and sign prior to receiving your loan is a contract between you and the lender. The loan agreement fully outlines the terms and conditions of the loan. It is important that you read and understand the terms and conditions of the agreement. If you have any questions concerning the agreement contact us by calling 1-844-365-LEND.

  • How is the payment due date determined?

    Your payment is scheduled to be due on your next pay date following the origination of the loan.

  • How do I make payments?

    Loans can be repaid by pre-authorized debit from your chequing account, pay in store with Cash or Debit or if you prefer you can send an Interac E-Transfer to payments@evolvefc.ca.

  • Can I refinance or rollover my loan?

    No. A Payday Loan is meant for short term borrowing needs only. As such, we require your loan to be paid-off in full on the due date. You may not use the proceeds of another loan to do so.

  • How much do I have to repay?

    You will need to repay the full principal and fees on your next payday. When your scheduled payment is due, it is repaid by a pre-authorized debit from your chequing account. We will notify you of any failed payment.

  • How does the extended payment plan work?

    Who qualifies?

    ·  In Ontario, customers taking their third Cash Advance in 63 days will qualify for an extended payment plan.

    How many installments will I have?

    ·  The number of installments will depend on your pay frequency.

    · If you are paid semi-monthly or more frequently, you will have the opportunity to repay your loan in equal payments over 3 pay periods.

    · If you are paid monthly or less frequently, you will have 2 pay periods to repay your loan.

  • Can I opt out of the extended payment plan?

    Government regulations mandate that we must set up your loan for the extended payments. It’s up to you whether you choose to let those equal payments be deducted from your bank account or if you want to repay your loan in cash, in full three business days prior to the due date at an Evolve Financial branch.

  • Can I repay my full loan amount in one payment?

    Yes you can. This option allows you to apply for a new loan right away. You will need to visit an Evolve Financial branch to make the payment at least three business days prior to your due date. Payment can be made by cash or debit (not credit or cheque).

  • Can I make partial payments?

    No, if you come into the store at any time during your extended repayment period to make a cash payment, you must pay the entire outstanding loan amount at that time.

  • When will I qualify for a new payday loan?

    You can only re-loan once your original loan is paid in full.

    ·  If you opted to pay cash in store and repaid the full loan amount, you can re-borrow online immediately. If you re-borrow within three business days, you will need to upload a copy of your payment receipt.

    ·  If you are making extended payments, you will need to wait to re-loan until all payments have cleared your account.

  • Why can I only pay in full three or more business days prior to my due date?

    The pre-authorized debit needs to be sent to the bank for processing and the banks require three business days to cancel a pre-authorized debit.

Can't find your question? Call us now: 1-844-365-LEND