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Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Money Mart's application

Finanso.Multilogin™

Money Mart may collect and verify your personal information.

What do you need to apply for a loan:

  1. First and Last Name;
  2. Mailing Address;
  3. E-mail Address;
  4. Phone Number;
  5. Valid government-issued photo ID;
  6. Social Insurance Number;
  7. Valid chequing account and a recent bank statement;
  8. Billing and credit card information.

You may be asked to provide additional documents and details when you apply.

Application details

Applicants are provided with an instant decision about payday loans and the same-day decision regarding installment loan issuance upon the application submission.

Reasons for rejection

The system analyses the client's income, bill payments, credit history, payments to other credit companies, and other factors and may reject the loan application for one or several of these reasons.

How to apply for a loan?

  1. Visit the Money Mart website and choose the amount and the type of a loan.

  2. Select the required province, term, and payment frequency. After that, the system will show the monthly payment amount and the loan details.

  3. Click on "APPLY NOW".

  4. Fill in your personal and contact information, including your first name, last name, date of birth, Social Insurance Number, current address, active email address, and mobile phone number. You also need to state whether you rent or own a home. After that, click on the "Next" button.

  5. The next stage requires information about your financial situation. The income is significant. You need to specify such things as the employment status, the name and address of the employer (if applicable), how much you earn after taxes each month, and when you are paid next time.

  6. Once the application has been submitted, Money Mart will check your details with third-party sources. If it believes you are trustworthy for receiving a loan, you will get a pre-approval offer on-screen. It will determine how much you can borrow and what interest rate you will pay on the loan.

  7. Enter your chequing account details.

  8. Read the digital loan agreement, and pay particular attention to any additional fees that might be charged. Once the agreement is signed, Money Mart transfers the funds with the specified method.

FAQ

How long does it take to get approved by Money Mart?

It could take only seconds after application submission to be approved. But if the lender needs some additional documentation to verify and evaluate the approval may take a couple of days.

Make sure that all the provided information is accurate and up-to-date.

How trustworthy is Money Mart?

It is claimed that the company does not collect any personal information about you unless you voluntarily provide it. Money Mart does not sell, rent or lease the customer lists to third parties.

Does Money Mart verify income?

Yes, it does. You must have a steady source of income. Money Mart considers your credit report and payment history. (Manitoba residents should provide proof of income for the recent pay period and the full prior month.)

Does Money Mart hurt your credit score?

It won't affect your credit score if you pay loans on time.

Financial products

Money Mart
Installment loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,000-$15,000
Rate
i

Effective interest rate on the product

up to 46.9%
Term
i

Loan term for the financial product

up to 60 months
Money Mart
Cash advance
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$120-$1,500
Rate
i

Effective interest rate on the product

up to 575%
Term
i

Loan term for the financial product

up to 62 days
Money Mart
Small business loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$10,000-$300,000
Rate
i

Effective interest rate on the product

up to 22%
Term
i

Loan term for the financial product

up to 12 months

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650
1000
$500-$50,000
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i

Effective interest rate on the product

up to 39.99%
Term
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Loan term for the financial product

up to 84 months
Cash Money
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$10,000
Rate
i

Effective interest rate on the product

up to 46.93%
Term
i

Loan term for the financial product

up to 60 months
Cash Money
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
50$ - 1500$
Rate
i

Effective interest rate on the product

up to 391%
Term
i

Loan term for the financial product

1 - 62 days

Calculate loan payments in Money Mart

Money Mart calculator will allow you to calculate an approximate payment schedule for the loan

Money Mart calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 20.08.2022
Loan amount
i

Enter the desired loan amount

CAD
CAD
150 $
1500 $
Loan term
i

Specify the loan term for the calculation

days
months
1
62
Province

What to pay attention to when applying for a loan from Money Mart

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Money Mart from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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All Money Mart’s reviews by August 2022
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