Personal Microloan

Good or bad credit, we’re here to help. We offer flexibility in terms of repayment. Our process is simple, quick, safe and confidential.

We do our best to make your deposit directly into your bank account within an hour of application.

NEW: Customers who receive benefits from CSST, RQAP, RRQ and SAAQ programs are now accepted.

Annual Interest Rates

The financial institutions we work with offer an annual interest rate of minimum 29% and maximum 32%.

Example of a Loan

A withdrawal on your $ 750 facility with bi-weekly drawdowns and 10-installment amortization would cost you $ 119.48 per payment

This information is given for descriptive purposes only and considers that the withdrawal made is refunded in full according to the agreed repayment schedule, without any new withdrawal or re-borrowing being made before full repayment.
The example above assumes a weekly membership fee of $ 20, which must be paid by the client as long as there is a balance owing on the credit facility.
The amount of the membership fees may change at any time and Prêt Instant reserves the right to modify them, their allocation, computation and the terms and conditions relating to any new facility granted.
The above example does not include any administration fees, carry-forward fees, fees for withdrawals refused by your financial institution, re-borrowing costs, maintenance fees or any other fees that may be imposed in connection with the occurrence of a default or your management and use of your facility.

In Case of Default

NSF: A fee of fifty dollars ($50.00) will be charged for bounced cheques and also charged in the case of bounced pre-authorized payments. Your financial institution will also charge you an NSF fee for any bounced payments.

Deferral of Payment: If the debtor would like to defer a payment to later than the date agreed upon in the original agreement, an administration fee of $ 35.00 will be charged. In order to defer a payment, the debtor must inform the lender at least 72 business hours before the date of collection.

Other Services and Conditions

Terms of Renewal: Loans are not renewed automatically. Loan renewals can only be made after the customer has submitted a request and it has been approved by our company.

Amortization schedule: Any initial withdrawal on your facility will be amortized according to an equal and consecutive payment schedule allowing full repayment of amounts due over periods ranging from three to six months. Thereafter, any re-borrowing on the availability of your credit facility will be added to the principal then remaining due on any previous withdrawal and a new amortization schedule will then be agreed to amortize the repayment on a predetermined number of equal payments and the same will be true of any subsequent re-borrowing.

Collection and Credit Score

Our company is in compliance with Canadian laws, regulations and legal standards. If a particular situation arises during your repayment period, our collection department will establish a repayment agreement with you based on your situation. Should the debtor default on one of any repayments under this contract, the creditor can demand full payment of any outstanding balance, capital, interest and costs. All judicial and extrajudicial costs that could be reasonably incurred by the creditor as a result of defects in a contract by the debtor, will be claimed and returned to the creditor from the debtor. In the event that no payment agreement is possible between the debtor and the creditor, the creditor may assign the file to a collection agency, which may affect the debtor’s credit rating/score.