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The price is the federal ceiling and the licence is the province's. Since January 2025 federal regulation has capped a payday loan at $14 for every $100 borrowed, including every fee, in every province with a payday regime, and New Brunswick is one of them. Every payday lender offering loans to New Brunswickers must be licensed by the Financial and Consumer Services Commission, even if it offers its services only online, with no exception for out-of-province companies, and the Commission is where to check a lender before you work with it. Borrow $500 and you repay $570 on your pay date; borrow $300 and you repay $342.
| New Brunswick rule | What it means for you |
|---|---|
| Cost cap | $14 for every $100 borrowed, every fee included |
| Largest loan | The lenders listed lend up to $1,500 |
| Licence | Every payday lender serving New Brunswickers must be licensed by the Financial and Consumer Services Commission, online or in a store |
| Out-of-province lenders | No exception; they need the same licence |
| On $500 | You repay $570 |
Two in the Smarter Loans network, from $100 to $1,500, at the $14 cap because the cap sets the price. Both lend online, so the application, the decision and the e-transfer happen from your phone, from Edmundston to Miramichi; both pay out within 24 hours of approval and one within the hour. Both consider a score under 560; income minimums run from $800 to $1,000 a month. Two is fewer than in most provinces, and the personal loans in New Brunswick page lists the thirteen personal lenders that serve the province, priced by APR or by a flat fee rather than by the payday cap; one application reaches both kinds. Every payday lender in the network is on the payday loans in Canada page.
$14 per $100 for two weeks. A short-term loan of $500 over three months at the 35% federal cap costs about $29 in interest, and the payments are spread. The payday loan is cheaper only if you repay it in full on the date; the moment it rolls into a second loan, the cost doubles. A payday loan that would take more than a third of your next cheque is one you will struggle to repay on the date, whatever the lender is willing to advance.
On our platform in the first half of 2026, New Brunswickers made 3.2% of everyday-scale applications under $1,500 across Canada and asked for $504 on average. Use that to check your own amount: a request around $500 is the ordinary case, and borrowing the bill rather than the limit is the single cheapest decision, because the fee scales with every $100.
Regular income of at least $800 to $1,000 a month depending on the lender, from any source that arrives on a fixed date; a bank account it is paid into; your online banking login, because the decision is made on your statements and the repayment is taken from the same account; and a New Brunswick address. No interview, no employment letter. Apply before your bank's e-transfer cutoff and the money can arrive the same afternoon.
Reviewed by Rafael Rositsan, Co-Founder and CEO, Smarter Loans. Last reviewed 25 September 2026. Lender figures are the lenders' published terms as checked August 2026; the short-term comparison is illustrative. Platform figures cover applications from 1 January to 30 June 2026.
A lender can charge no more than $14 for every $100 borrowed, including every fee, the ceiling federal regulation sets for every province with a payday regime. Borrow $500 and you repay $570 on your next pay date.
The lenders listed lend from $100 to $1,500, and the decision is made on your pay date and your bank statements rather than on your score.
Yes. Every payday lender offering loans to New Brunswickers must be licensed by the Financial and Consumer Services Commission, even if it lends only online, and there is no exception for out-of-province companies.
You check it with the Financial and Consumer Services Commission before you work with the lender; a lender that cannot show its licence is not a lender to use.
If you cannot repay in full on your next pay date, yes: a short-term loan of $500 over three months at the 35% cap costs about $29 in interest against $70 for the payday loan, and one application reaches both kinds of lender.
