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Three numbers. A BC payday loan costs at most $14 per $100, every fee included. It cannot be more than $1,500. You must repay it within 62 days. Every payday lender needs a Consumer Protection BC licence, online or in a store.
| BC rule | What it means for you |
|---|---|
| Price | At most $14 per $100 borrowed, every fee included |
| Largest loan | $1,500 |
| Longest term | 62 days |
| Licence | Consumer Protection BC, online or in a store |
| On $500 | You repay $570 |
Not on price, because BC sets it. They differ on speed and on what they ask of you.
All seven lend online. Six pay out within 24 hours, two of them within the hour. Five set no minimum credit score, and two consider poor credit. Income minimums run from $800 to $2,000 a month, so a lower income narrows the choice.
More than a third of BC small-loan requests on our platform are to catch up on bills. One in eight is for a medical cost. The average request is about $490.
About a third of these applicants live on benefits. Benefits count as income at one of the seven lenders. If you live in Vancouver, the payday loans in Vancouver page shows what people there borrow.
When you cannot repay within the term. A second payday loan to cover the first is how a small problem grows. A short-term loan under the 35% federal cap spreads the payments over months and costs less.
The thirteen personal lenders that serve BC are on the personal loans in British Columbia page, and our application reaches them too. Every payday lender we work with is on the payday loans in Canada page.
Reviewed by Rafael Rositsan, Co-Founder and CEO, Smarter Loans, 3 October 2026. Lender terms checked August 2026. Platform figures cover applications from 1 January to 30 June 2026.
BC caps it at $14 per $100 borrowed, every fee included. On $500 you repay $570.
BC payday loans must be repaid within 62 days, and none can be larger than $1,500.
Seven lenders in our network serve BC online. Six pay out within 24 hours, and two within the hour.
Yes. Every payday lender in BC needs a licence from Consumer Protection BC, whether it lends online or in a store.
Yes. Five of the seven lenders serving BC set no minimum score, and the other two consider poor credit.
