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Although Prince Edward Island is Canada’s smallest province in both size and population, PEI has no shortage of residents in every stage of their careers. As unexpected bills and accidents tend to happen at the worst possible moments, payday loans are one of Prince Edward Island’s most commonly researched loans. However, payday loans come with soaring interest rates that can easily cause a financial burden on the borrower’s wallet. There are better solutions available on Smarter Loans in Prince Edward Island. One of the best alternative options to a PEI payday loan is the online installment loan or an express loan. These loans offer you access to funds in a matter of hours, so you don’t have a stressful waiting period.
Getting approved for an online loan in Prince Edward Island is also an incredibly simple process, usually offering an application that takes only a few minutes to complete. PEI online loans with easy approval also offer the borrower much lower interest rates than payday loans with longer payment terms, making paying off the loan far more manageable.
Take a look at our comprehensive list of high-quality lending institutions in Prince Edward Island below, use our loan calculator to figure out your preferred term, and find a firm that is offering terms to suit your needs. You can fill out an application directly from each lender’s site.
Amy Orr is a professional writer and editor with over 10 years of experience in the Canadian, U.S. and U.K. financial markets. She has written for numerous publications on topics as diverse as economic literacy, corporate finance, and technical analysis of numerical data. Prior to transitioning to full-time writing, she worked in the hedge fund sector. Her academic background is astrophysics, and she has a Masters in Finance from the University of Edinburgh Business School.
Jenna West is Smarter Loans' in-house financial writer and content director. She has been covering the Canadian FinTech and finance industry since 2017, including financial trends analysis, industry surveys, regulatory updates and changes in Canadian consumer behaviour when it comes to finance.
