Payday lending is extending a service to people who have an urgent short-term need for cash. Because people live paycheck to paycheck, when an unexpected expense occurs such as car repair, replacing a broken window etc… short-term credit may arise.
Helium Loans range from $300 to $1,500 and obtaining a loan is straight forward with the application taking 5 minutes to complete.
You simply need a:
- Job with income for at least $3,000 a month
- Mobile phone for verification purposes
- Bank account
- Proper form of identification (driver’s license or passport)
Once approved Helium Loans uses email money transfers to get you the funds within an hour.
On the next payday, the loan plus interest is automatically debited from the bank account.
Compared to other avenues of getting cash, payday lenders offer a quick and easy solution when relatives or friends cannot help, and you are faced with an emergency situation such as having their electricity/water turned off, car repossessed which can lead to a lost job, rent or mortgage unpaid or check bouncing.
The interest rate may appear to be high, but the truth is that the cost of a $1,000 payday loan is lower than the embarrassment, discomfort and lost income when a car is out of commission and a job lost.
Approval rates are high, even if you have poor credit or a lack of credit history since we like to focus on determining source of income is steady enough to support the loan. We also offer flexible options when repaying from providing an option to delay payment for 7 days to repaying the loan in small daily increments which can be less that a cup of coffee.
The payday industry is strictly regulated and supervised by provincial legislation. They enforce a variety of rules including maximum amount of interest rate that can be charged, disallow loans to be rolled over and limit fees once a default occurs.
We provide a valuable service with friendly customer service experience for our clients but with over bearing regulation that can disrupt this important service to our clients.