Loans Toronto is a free loan connection service for people who live or work in Toronto and the region around it, from Etobicoke to Scarborough and out to Mississauga, Brampton, Vaughan and Markham. The site explains how a payday loan and an installment loan each work under Ontario law, who gets approved on Toronto wages, and what the Payday Loans Act, 2008 does for you after you sign. It is not a lender and it never charges you.
What this site is
This site is a plain language guide to payday loans and installment loans in Toronto, with an apply link that leads to licensed lenders. A payday loan runs from $100 to $1500 and comes out of the next paycheque, with the fee set by the lender inside the federal cap on payday lending. An installment loan runs from $500 to $10000 over 3 to 60 months at an APR the lender sets under the federal ceiling. In both cases the lender shows its own figures, the total and the dates before you sign.
The pages put the two side by side because Toronto bills come in two sizes. A $600 gap between rent on the first and pay on the fifteenth is a payday problem; first and last on a one bedroom in Leslieville is an installment problem. Semi monthly pay in the towers around Bay and King, biweekly shifts along hospital row, tips in cash on King West, a film contract that pays at wrap, an agency rotation off the 401 in Brampton: each one decides which loan fits and how big it should be, so the Toronto detail is on every page.
How we earn money
We earn a referral fee from a lender when a loan funds, and that is the only income the site has. The fee is a marketing cost on the lender's side. It does not raise your fee, your APR or your repayment, and if your application does not fund, nobody pays anything.
A fee that only arrives on a funded loan gives us one incentive: point you to a lender that will approve you and get repaid, which is not the same thing as the biggest loan on offer. The referral disclosure sets out the arrangement in full.
Who runs it
The site is run by an independent Canadian publisher that operates a small number of local loan guides, one per city. The people who write and check these pages are not lenders, brokers or financial advisers. We read the Payday Loans Act, 2008, the guidance Consumer Protection Ontario publishes, the federal Criminal Interest Rate Regulations and the lender agreements, and put them into plain sentences. There are no reviews, testimonials or star ratings here.
What we hold ourselves to
Every page is checked against the same short list before it goes up and again when a rule changes.
- Every figure follows the current law: the Ontario ceiling on a payday loan's amount and term, the federal cap on the payday fee, and the federal criminal rate on installment lending. The lender's disclosure is the number you sign.
- Approval is described as income based and is never promised. A lender that has not seen your pay deposits cannot know whether it will lend, and neither can we.
- The Ontario protections are stated as they are: a licence for every lender and location, two business days to cancel at no cost, no rollovers or concurrent loans, an extended payment plan on the third loan within 63 days, and an age of majority of 18.
- Toronto is written as it is. The pay cycles in the towers at Bay and King, the shift schedules along hospital row and the GO timetables out of Union are real, and the price of a payday loan is the same by law on every one of them, so no page presents one way of applying as the better deal.
- Pages link to the regulator or the statute so you can check us, and when a figure changes, the "last updated" date changes with it.
What we are not
We are not a lender, and we hold no licence under the Payday Loans Act because we do not lend. Nothing on this site collects your banking details, your identification or your income. The application behind the apply button belongs to the lending platform we work with, and the lenders on that platform hold the Ontario licences. To confirm a lender before you sign, look it up through Consumer Protection Ontario.
We also have no office anywhere in the city, not at Yonge and Dundas and not in a plaza in Rexdale; everything here happens on a phone, from the subway, the GO or the kitchen table. The contact page explains how to reach us and which questions belong with the lender or the regulator, how applying works walks through the four steps and shows where a payday offer and an installment offer differ, and the FAQ covers the rest.
Loan options in Toronto
One page per product: who qualifies, how fast it funds and what to check before you sign.
