Pay day loan company licence : obtain a licence to supply pay day loans to borrowers in Alberta

Pay day loan company licence : obtain a licence to supply pay day loans to borrowers in Alberta A quick payday loan means: any advancement of income having a principal of $1,500 or less and a phrase of 62 times or less produced in trade for the cheque that is post-dated a pre-authorized debit or the next re re payment of an identical nature, not for just about any guarantee, suretyship, overdraft protection or safety on home and never via a margin loan, pawnbrokering, a credit line or credit cards. There is certainly a 1 or 2-year certification cost, payable to your federal Government of Alberta. For one-year licences – a licensing cost of $1,000 for the licence and also the location that is first $500 for every single extra location specified regarding the application For 2-year licences – a licensing cost of $2,000 for the licence in addition to very first location plus $1,000 for every single additional location specified in the application How exactly to use You need to finish a software type, an addendum form, provide a safety, supply a copy regarding the company’ standard loan contract and spend a licensing charge. To begin with, follow these guidelines to save lots of and start the program along with other relevant types. Failure to present information that is complete postpone processing of one’s application that can bring about a refund of one’s costs and closing of the file. Step One. Complete the applying form Difficulty opening or completing PDF types? […]