Frequently Asked Questions (FAQ)

General FAQs

You can apply in person, online through the application provided, or contact us at your local office and we will send you an application via email or fax. Please call us if you wish to discuss your individual needs and requirements prior to applying. We deal with every application on a case by case basis and your individual details are important to us!

Our interest rates on term loans range from 14-33% annually. The majority of our loans are in the 24-30% range. This is competitive with credit cards, consumer lending, and finance companies. Rates vary based on the term of the loan, amount of the loan, client history, and type of security. For more details on this please visit our Payday Loans page.

Our terms generally range from 6-36 months.

Absolutely! Unlike traditional lenders we include amortization schedules with your loan documents. This shows your principle and interest payments along with your updated remaining balance owing each month. This is the amount you would pay, without penalty, should you decide to pay off the loan early.

There are no processing fees involved in applying for a loan. Upon approval and completion of the loan process there is an administration fee generally equal to 10% of the loan value to a maximum of $1000. A larger administration fee may apply to mortgages.

Currently we offer term loans in Alberta and British Columbia (Payday loans are available in Alberta, British Columbia and Saskatchewan)

No and no. A large portion of our borrowers are renting their homes and/or financing their vehicles. We pride ourselves on offering good service to everyone, regardless of their assets. Many of our loans are, in fact, for vehicles.

Yes we do. In situations where you are working to rebuild your credit or are just starting out a co-signer can be a good option.

Many factors affect the amount a client is approved for. Because there are different types of loans we offer, this is a question best discussed individually. The amount varies on what the loan is for, the security involved, co-signer, income, other expenses, and an applicant’s history.

Many people are afraid to apply for a term loan because they know their credit isn’t the best and they assume they’ll be turned down. We are always willing to discuss the situation that caused bad credit and the reason for needing the loan. There are varying levels of poor credit and we do not automatically turn anyone down based on a credit blemish alone.

Payday Loan FAQs

In Alberta, the cost of a pay day loan is $15 per every $100 borrowed. Your interest rate will vary depending on the term of the loan, or how long you need it for. For example, on a $300 loan, you would repay $345 at the end of the loan term. In British Columbia, the cost of a pay day loan is $17 per every $100 borrowed, so you would repay $351 on a $300 loan.

There is no limit on the number of total pay day loans you can get, but you can’t have more than one pay day loan from the same company at the same time. Payday loans are meant to be a short-term cash solution, so if you find yourself in need of pay day loans often you may want to consider a personal loan or joining the Blue Copper Club. Personal loans and loans through the Blue Copper Club come with better rates and longer terms.

How much you can borrow varies individually, but legally we can’t lend more than 50% of your last pay cheque. If it’s your first time borrowing from us, a typical first loan amount would be $300 to $500. We build relationships and mutual trust with our clients which allows us to gradually increase your maximum loan amount, based on what your income allows. The maximum amount allowed for a pay day loan, regardless of income, is $1,500.

There is no minimum income requirement, but we can’t legally lend you more than 50% of your last pay cheque. All applicants must be gainfully employed with the same company for at least 3 months. If you receive disability benefits, your income must come from a private insurance company.

We don’t do a credit check for pay day loans, but we do for business loans and personal loans. That said, it’s not the only factor we consider when approving you for a loan. We consider it a baseline in addition to other factors. Even if you have a low score, the main thing we’re looking for is that your credit is on its way up. We want to get to know you, not the number on your credit report. 

Our guideline is that you have been at your current place of employment for at least 90 days. We use this guideline as 90 days marks when most employees are past their probationary period, setting us both up for success when it comes to repaying your loan.

The entire pay day loan process from start to finish can be done in as little as 20 minutes, provided we have all of the necessary information and documents included with your application. It doesn’t matter if you apply online or in-person, our process remains the same. We receive and evaluate your application, give you the loan documents to sign, and then send you an e-transfer.

If you apply online, we will contact you as soon as we receive your application to keep you posted on its status. If it’s your first time borrowing from us, we prefer that you meet us in-person to be approved and sign your documents, but the whole process can be done online.

We don’t offer insurance on pay day loans because at the end of the day it’s not cost-effective for you. The cost of insurance compared to the value of pay day loans rarely works out in your financial favour if you are unable to repay your loan.

We lend based on employment income, so we do not lend on Alberta Works, AISH or BCPWD payments. If your primary income is based on payments from one of these sources, contact us and we can recommend another loan provider.

Currently we lend in British Columbia, Alberta, and Saskatchewan. See our chart below for what services we offer in each location or contact us for more information about which services we offer.

LocationPayday LoanPersonal / Term LoansMoneyGramBlue Copper Club
British ColumbiaNot AvailableAvailableAvailableAvailable
AlbertaAvailableAvailableAvailableAvailable
SaskatchewanAvailableNot AvailableNot AvailableNot Available

Absolutely! Many of our customers start out with a small loan and after establishing a loan history they move into term loans, auto loans, and consolidation loans. Our business was built on our personal relationships with our clients and we review every loan application individually. A good pay day loan history is a great start and helps us approve you for larger or longer-term loans.

Payday loans will not affect your credit, but personal loans and Blue Copper Club loans do. For many of our clients, this is actually a bonus. You could see a credit score increase of 100 to 150 points, just for repaying your loan on time.

Personal Loan FAQs

Currently we lend in British Columbia, Alberta, and Saskatchewan. See our chart below for what services we offer in each location or contact us for more information about which services we offer.

LocationPayday LoanPersonal / Term LoansMoneyGramBlue Copper Club
British ColumbiaNot AvailableAvailableAvailableAvailable
AlbertaAvailableAvailableAvailableAvailable
SaskatchewanAvailableNot AvailableNot AvailableNot Available

We don’t do a credit check for pay day loans, but we do for business loans and personal loans. That said, it’s not the only factor we consider when approving you for a loan. We consider it a baseline in addition to other factors. Even if you have a low score, the main thing we’re looking for is that your credit is on its way up. We want to get to know you, not the number on your credit report. 

Absolutely! Many of our customers start out with a small loan and after establishing a loan history they move into term loans, auto loans, and consolidation loans. Our business was built on our personal relationships with our clients and we review every loan application individually. A good pay day loan history is a great start and helps us approve you for larger or longer-term loans.

Payday loans will not affect your credit, but personal loans and Blue Copper Club loans do. For many of our clients, this is actually a bonus. You could see a credit score increase of 100 to 150 points, just for repaying your loan on time.

Business Loan FAQs

We offer loans to all types of business owners and business. Over the years we have built relationships with many local business owners from all industries. We understand the challenges of owning your own business (after all, we’re business owners too) and we fight to get you the best rates possible for your business loans.

We work with many business owners across industries including contractors, sole proprietors, and corporations. We understand that qualifying for a loan can be difficult for business owners under standard payday and personal loan requirements. Most business owners who borrow from us either borrow as part of the Blue Copper Club or have a business loan under their name and their company name.

Absolutely! Many of our customers start out with a small loan and after establishing a loan history they move into term loans, auto loans, and consolidation loans. Our business was built on our personal relationships with our clients and we review every loan application individually. A good pay day loan history is a great start and helps us approve you for larger or longer-term loans.

Payday loans will not affect your credit, but personal loans and Blue Copper Club loans do. For many of our clients, this is actually a bonus. You could see a credit score increase of 100 to 150 points, just for repaying your loan on time.

Money Gram FAQs

Yes, we offer MoneyGram transfer services. To send a MoneyGram, simply visit one of our locations and choose the amount and location you would like to send money to. We accept cash and debit for MoneyGram transactions. To receive a MoneyGram transfer, all you need to do is visit one of our locations and present a piece of valid ID.

Yes, MoneyGram is an in-person transaction. We have four locations to make the process as convenient as possible. Simply visit one of our offices and we’ll take care of the rest!

Blue Copper Club FAQs

The Blue Copper Club is open to anyone who is interested in receiving better loan rates. If you frequently use pay day loans for your personal or business life, the Blue Copper Club is likely a great fit for you. We created the Blue Copper Club to reward our best customers who work hard to repay their loans but then end up stuck in a constant repayment cycle. All members get better rates and more flexible loan terms, making the loan process as easy as possible for frequent borrowers.

Yes, one of the many benefits of joining the Blue Copper Club is the preferred loan rates. Members also receive more flexible loan terms and various other benefits. With your membership, we’ll treat you to free money mentoring sessions, events, and movie and sports tickets because it’s about more than just money to us.

Payday loans will not affect your credit, but personal loans and Blue Copper Club loans do. For many of our clients, this is actually a bonus. You could see a credit score increase of 100 to 150 points, just for repaying your loan on time.

Tired of Pay day Loans?
Join the Club

The Blue Copper Club is a solution for borrowers who are consistently repaying pay day loans. Additionally, the Club is terrific for business owners who require quick access to capital. Once you join the club, you’ll get discounted rates and more flexible terms on every loan you take out. Members also receive free money management tools and tips as well as access to exclusive events and gifts.

Ready to Apply?

We make the loan application process as simple as possible. Begin your application online, give us a call, or visit us in person to get approved for your loan in as little as 20 minutes.

Begin Application

Questions?

We want your loan application process to be as easy as possible, so message us through our online chat, view our FAQs, or give us a call. Whatever your question is, we’re here to help.

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