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Mr. Payday


About lender

Mr. Payday is a Canadian company that provides short-term loans to people who need extra cash up to $1,500.

You could easily and quickly borrow online with Mr. Payday. It's an alternative option for people who don't qualify for the traditional lenders and don't want to wait days or weeks before a bank will check and approve a loan application.

You could get an unsecured online payday loan for any purpose with no credit or bad credit on the same day and pay back your loan in 3-31 days with an interest rate that varies by province ($15-17 for every $100).

The company was established in Vancouver in 2002.

The company works in British Columbia (Vancouver, Surrey, Burnaby, and others), Alberta (Calgary, Edmonton, and others), and Ontario (Toronto, Ottawa, Mississauga, Brampton, Hamilton, and others).

Pros and cons

Mr. Payday short-term loans suit borrowers who aren't trustworthy enough for traditional lenders or had a bankruptcy in the past. But look through this pros and cons review carefully to decide whether Mr. Payday is your best solution.


  • 100% online services
  • Available with bad, poor, or no credit
  • Apply through a personal account or mobile app
  • Fast approval and loan funding within the same day (could be as fast as 1 hour in total)
  • High approval rate
  • No hidden fees and penalties
  • Loans are paid out through the direct deposit or email money transfer
  • No banks involved

Advantages are attractive but try to think, don't forget about high-interest rates, and calculate all the payments and fees of the payday loans. There are some disadvantages you should know before borrowing.


  • Small amount of money to borrow
  • Extremely high annual percentage rate (more than 300%)
  • Short payment period
  • Two references are needed to apply
  • Stable source and amount of income are required
  • Self-employment is not acceptable

As you see, Mr. Payday can be used mainly as the last option if you need some extra cash and have no opportunity to use the services of the banks or lenders with more strict requirements.

There are advantages and disadvantages of Mr. Payday financial services, but it's important to remember that borrowing with an alternative lender should not become regular.

Loan conditions

  1. The customers could borrow from $100 to $1,500 is up to the net income for 3 to 31 days.
  2. he annual interest rates vary depending on which province you live in, your credit history, and your score.
  3. Non-sufficient funds (NSF) fee is up to $50.

You can have only one outstanding loan with the lender. Then, when you settle the entire loan, you could apply for a new one.

Just go to the and click the «Reload» button. Then, log in and look through your personal information and ensure it's up-to-date and correct.

If you want to correct something, click the «Update Profile» button and fill in the necessary data. Then, when the customer service submits the info, you could make a new loan application on your personal profile.

Select the amount of a new payday loan. Next, review your application and choose the option to receive the money (direct deposit or email money transfer). Then, sign the agreement online, enter your banking information and go through the verification. Wait until the customer service processes your application during business hours.

Methods of a loan funding

During the application process, you fill out financial and bank information. Then, when you submit the loan amount, you could choose the method of funding: direct deposit to the bank account you have specified or Interac email money transfer.

You can get the money within 24 hours after your application is approved. Email transfer is the quickest option: it takes only 30-60 minutes after the approval.



What is Mr. Payday?

Mr. Payday is an alternative lender that offers payday unsecured loans in Canada. It works with borrowers who have bad credit, past bankruptcy, or don't want to deal with banks. You could borrow up to $1,500 for any individual purpose on the same day.

Who owns Mr. Payday?

The company is a private lender established in Vancouver in 2002 as Mr. Payday Easy Loan Inc. The company does not provide more info on the topic.

How do you qualify for Mr. Payday?

It's easy for any Canadian credit user to get a payday loan with Mr. Payday. But you should satisfy some personal and financial requirements.

To qualify, borrowers should:

  • be 19 years or older;
  • be employed at one job at least for two months or receive CPP, Private Pension, EI, WCB, CTC, or Non-Government Disability benefits;
  • have a regular source of income over $1,100 per month, deposited into the bank account;
  • have no active bankruptcy;
  • have an active Canadian bank account or equivalent;
  • have an active phone number;
  • be a Canadian resident for at least three years.

Self-employment, social assistance, or government disability aren't acceptable sources of income.

If you meet these requirements, you are welcome to apply!

How much can you borrow from Mr. Payday?

From $100 to $1,500, depending on your net income. 

Is Mr. Payday a legitimate company?

Yes, it is. It has been working in Canada for 19 years. Have more than 1,000 reviews and a score of 4.7 at Trustpilot.

It is a provincially licensed lender:

Alberta: Licence number 326997

BC: Licence number 50031

Ontario: Licence number 4716300

According to Mr. Payday, it uses secure socket layer technology (SSL) to encrypt your personal information when you fill out its application, which means the communication between your browser and its site’s server is secure.

Company documents

Terms and Conditions
Privacy Policy


© Mr. Payday

Calculate loan payments in Mr. Payday

Mr. Payday calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

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Loan term

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What to pay attention to when applying for a loan from Mr. Payday

  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 Mr. Payday 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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