As a provincial capital, Halifax is a center of commerce and business. As there are people from every financial bracket, it isn’t surprising that payday loans are one of the most commonly applied for. Your washing machine is on the fritz; your car broke down? A payday loan is likely the most obvious solution. Getting approved for a payday loan is a fairly simple process, as these loans aren’t usually for large amounts of cash and they don’t require a credit check. But these loans aren’t as safe as you might assume. These loans are meant for short term use and usually have payment terms of roughly two weeks, or until your next paycheque. But their short term nature means that institutions have to use the offered terms to make money on the loan. Payday loans in Halifax use high interest rates and a system of ‘renewals’ to ensure that the lender makes a profit on the loan. If these loans aren’t paid off quickly, a payday loan can quickly put you into a vicious financial cycle.
Unfortunately, a payday loan in Halifax isn’t as convenient a solution as it seems. However, the growing online financial market means that there are other options available to you. If you’re looking to get approved for an online loan fast, there are great options to look into in Halifax. Online loans offer fast approval and access to funds in a matter of hours, making them a far more convenient alternative to the traditional lending institution and to payday loans in Halifax. At Smarter Loans we have a comprehensive list of pre-vetted lenders that offer fast approval and can be applied for online. Take a look at the table of lenders below, and see what’s on offer. You can apply to these lenders from their profile pages, or apply directly from Smarter Loans, and we’ll help connect you with the best provider.