• Customer Focus

    Customer Care is Our Highest Priority.
  • No Credit Check

    Faxless Application Process

How It Works

Pay Power Loan Explained

Pay Power Loan provides personal loans of $50 to $1500 with terms of 9 to 36 months. We get you cash fast with a simple 15-minute application process and easy approval in 24 hours. We provide flexible payment options and absolutely no hidden fees. You can be sure we are committed to helping you when you need it most.

Top 5 Loan Reasons

  • Bill payments
  • Debt consolidation
  • Auto repairs & upgrades
  • Leisure & vacation
  • Home repairs & renovations

We Can Help

  • If you have a bankruptcy
  • When you are in collections
  • Rebuild your credit
  • When others won't approve

Getting A Loan

  • Complete online application
  • Verify your loan documents
  • Provide your banking information
  • e-Sign your loan agreement
  • Receive loan via direct deposit

Our Services

Loans & Cards

Pay Power Loan has 3 simple services for getting you the money you need:

Personal Loans

At Pay Power Loan, we have a variety of personal loans, ranging from $50 to $1500 with terms from 9 to 36 months.

  • Borrow up to $1500
  • Simple 15-minute application process
  • Easy approvals within 24 hours

Debt Consolidation

We'll help you minimize your financial burden by consolidating payday loans or other bills into a single, affordable payback solution.

  • Repair bad credit
  • Free up cash flow
  • Catch up on payments

EPIC Prepaid MasterCard

We even offer the EPIC prepaid MasterCard®. This is the ultimate card solution. Prepaid MasterCard® allows you to spend what you want.

  • Make purchases anywhere
  • Withdraw cash from any ATM
  • Quick and convenient access to cash

Home & Auto Security

To better protect you in your time of need Pay Power Loan Services offers home & auto protection:

Home Security Plan Highlights

  • Unlimited Usage of Personal Legal and Financial Advice by Phone and in Person. Guaranteed discounts and Low Hourly Rates at Local Attorneys
  • Up To $500 for Homeowner’s/Renter’s Insurance Deductible Reimbursement (Loss must exceed Member’s deductible. Loss must be submitted to primary Insurance and covered under Member’s policy.)
  • Up To $150 Professional Emergency Locksmith Service (Unlimited number of calls.)
  • Up To 48 Hours of Emergency Treatment Expenses from Non-AutoRelated Accidents Occurring in the US (Emergency treatment must begin within 48 hours of injury and not be covered by other insurance.)
  • Ambulance and Paramedic Expenses from Non-Auto Related Accidents Occurring in Canada or the US (Must not be covered by other insurance.)
  • Canadian Red Cross First Aid and CPR Course Reimbursement
  • Up To $75 Per Member for Self-Defence Course
  • $5,000 Reward to Protect Your Home and Neighborhood
  • $5,000 Kidnapping Reward and Child I.D. Kit (Family Membership Only.)
  • Complete Video Guide to Home Security Provides Firsthand, Simple Methods to Protect Your Home and Family

Auto Security Plan Highlights

  • Up To $750 for Emergency Transportation if Your Car is Disabled as a Result of an Accident or Mechanical Breakdown 80 Kilometres or More from Home
  • Up To $750 for Meals and Lodging if Your Car is Disabled as a Result of an Accident or Mechanical Breakdown 80 Kilometres or More from Home
  • Up To 48 Hours of Emergency Treatment Expenses from Auto Related Accidents, Occurring in the US (Emergency treatment must begin within 48 hours of injury and not be covered by other insurance.)
  • Up To $150 Emergency Towing and Road Service (Unlimited number of calls.)
  • Ambulance and Paramedic Expenses from Auto Related Accidents Occurring in Canada or the US (Must not be covered by other insurance.)
  • Up To $750 for Transportation if Car is Stolen
  • Up To $150 Professional Emergency Locksmith Service (Unlimited number of calls.)
  • $5,000 Theft Reward to Assist in Recovering Stolen Car
  • Unlimited Usage of Personal Legal and Financial Advice by Phone and in Person. Guaranteed discounts and Low Hourly Rates at Local Attorneys
  • Personalized Trip Routing Service
  • Registered Key Tags and Lost Key Service
  • Professional Travel Services and Airfare Booking
  • Discount Rates on Hotels, Car Rentals, and Cruise Packages
  • Emergency Medical I.D. Card
  • 24-Hour Emergency Cash Wiring Fee Reimbursement

FAQs

About Pay Power Loan

What is Pay Power Loan and what do we do?

We approve when banks won't and we're way cheaper than a payday loan. We're a fast, convenient alternative for getting you the money you need. A simple 15-minute application process can put up to $1500 in your pocket in less than 24 hours.

What is the difference between Pay Power Loan and a payday loan?

For starters we're way cheaper than a pay day loan! We provide personal loans with terms of 9 months to 36 months to help you take back control of your cash flow and to break the pay day loan cycle. Also, we can provide you with up to $1500 instead of the lower pay day loan lending amounts.

What is the difference between Pay Power Loan and a bank?

We have a greater flexibility in terms of who we can approve and a lending criteria that's easier to meet. When banks won't approve we are here to help.

Where are you located?

We have approximately 100 locations across Canada as well as a national loans centre.

How We Help

How can you help with debt consolidation?

Consolidation loans can help by establishing 1 easy fixed monthly payment that you can afford. These loans allow you to take back control of your cash flow and allow you to get back on your feet.

How can you help improve my credit score?

This question has a complex answer that is better discussed in person or by phone, but with our loans we report to the credit bureau. This means that during your time with us you have the opportunity to impact your credit history in a positive way.

How do you help with unexpected expenses?

Unlike pay day loans, Pay Power Loan can lend up to $50,000 to help deal with those unexpected expenses.

What is your loan protection plan?

Our loan protection plan is to protect you in case of job loss, injury, illness and in the worst possible case if you pass away

  • If you are laid off, your payments are covered up to 6 months
  • If you are injured or ill, your payments are covered up to 6 months
  • If you are critically ill, your payments are covered 100%
  • If you pass away, your payments are covered 100%

If I am bankrupt, can I still get a loan?

We are able to consider clients who have been discharged from past bankruptcy.

Loan Information

What qualifications do I need to get approved?

This is based on various factors, but is mainly determined by your credibility, stability and current income. For any further questions on this please contact us today!

What documents are needed to get a loan?

We require the following documents:

  • 2 recent pay stubs
  • Last 30 days of banking information
  • 1 recent bill addressed to your current home
  • A piece of government photo ID

How long will it take me to complete an application?

Our simple application process takes approximately 15-minutes.

How long will it take for me to get an approval?

We can provide easy approval within 24 hours

What are your payment terms?

We offer personal loans with terms of 9 months to 36 months providing you with the flexibility you require.

How do I make payments?

Loan payments are made through our pre-authorized payment plan. Pre-authorized payments are an automatic withdrawal from your bank account each time your payment is due.

What happens if I miss a payment?

We work closely with our customers when life happens and work towards solutions that can keep your credit in good standing.

What's your APR?

Our APR is 46.96%. For more information on this please view our responsible lending page.

Apply Now

Personal Information

Employment Information

Financial Profile

Loan Detail

Assessibility

Customer Service Policy Statement

Providing Goods and Services to People with Disabilities

1. Our mission

The mission of Pay Power Loan . and its subsidiaries is to provide customers access to household goods and services that enhance the quality of their lives.

2. Our commitment

In fulfilling our mission, Pay Power Loan Ltd. strives at all times to provide its goods and services in a way that respects the dignity, and independence of people with disabilities. We are also committed to giving people with disabilities the same opportunity to access our goods and services and allowing them to benefit from the same services, in the same place and in a similar way as other customers.

3. Background

The Accessibility for Ontarians with Disabilities Act, 2005 (AODA) was created with the goal of developing standards that would improve accessibility for people with disabilities across the Province. The AODA allows the Provincial Government to develop specific standards of accessibility and to enforce them. The standards are made into regulations pursuant to the AODA. The Customer Service standard is the first standard developed under the AODA.

4. Definitions (as defined by the AODA Act, 2005)

Assistive Device is a technical aid, communication device, or medical aid modified or customized, that is used to increase, maintain, or improve the functional abilities of people with disabilities.

Barrier means anything that prevents a person with a disability from fully participating in all aspects of society because of his or her disability, including a physical barrier, an attitudinal barrier, a technological barrier, a policy or a practice.

    Disability, is
  • Any degree of physical disability, infirmity, malformation or disfigurement that is caused by bodily injury, birth defect or illness, and without limiting the generality of the foregoing, includes diabetes mellitus, epilepsy, a brain injury, any degree of paralysis, amputation, lack of physical co-ordination, blindness or visual impediment, deafness or hearing impediment, muteness or speech impediment, or physical reliance on a guide dog or other animal or on a wheelchair or other remedial appliance or device,
  • A condition of mental impairment or a developmental disability,
  • A learning disability, or a dysfunction in one or more of the processed involved in the understanding or using symbols or spoken language,
  • A mental disorder, or
  • An injury or disability for which benefits were claimed or received under the Workplace Safety and Insurance Act, 1997.

Service Animal, an animal is a service animal for a person with a disability if it is readily apparent that the animal is used by the person for reasons relating to his or her disability; or if the person provides a letter from a physician or nurse confirming that the person requires the animal for reasons relating to the disability.

Support Person, a support person means in relation to a person with a disability, another person who accompanies him or her in order to help with the communication, mobility, personal care or medical needs or with access to goods or services.

5. Providing goods and services to people with disabilities

Pay Power Loan Ltd. is committed to excellence in serving all customers including people with disabilities and we will carry out our functions and responsibilities in the following areas:

5.1 Communication

We will communicate with people with disabilities in ways that take into account their disability.

We will train staff who communicate with customers on how to interact and communicate with people with various types of disabilities.

5.2 Telephone services

We are committed to providing an accessible telephone service to our customers. We will train staff to communicate with customers over the telephone in clear and plain language and to speak clearly and slowly.

We will offer to communicate with customers by alternative methods such as e-mail, relay services, or print communication if telephone communication is not suitable to their communication needs or is not available.

5.3 Assistive devices

We are committed to serving people with disabilities who use assistive devices to obtain, use or benefit from our goods and services. We will ensure that our staff members are trained and familiar with various assistive devices that may be used by customers with disabilities while accessing our goods or services.

5.4 Billing

We are committed to providing accessible invoices to all of our customers. For this reason, invoices will be provided in the following formats upon request: hard copy, large print, e-mail.

We will answer any questions customers may have about the content of the invoice in person, by telephone or e-mail.

6. Use of service animals and support persons

We are committed to welcoming people with disabilities who are accompanied by a service animal on the parts of our premises that are open to the public and other third parties. We will also ensure that all staff, volunteers and others dealing with the public are properly trained in how to interact with people with disabilities who are accompanied by a service animal.

We are committed to welcoming people with disabilities who are accompanied by a support person. Any person with a disability who is accompanied by a support person will be allowed to enter Pay Power Loan premises with his or her support person. At no time will a person with a disability who is accompanied by a support person be prevented from having access to his or her support person while on our premises.

Wherever service animals are prohibited by law, we may provide personal assistance during the store visit.

7. Notice of temporary disruption

Pay Power Loan Ltd. will provide customers with notice in the event of a planned or unexpected disruption in the facilities or services usually used by people with disabilities. This notice will include information about the reason for the disruption, its anticipated duration, and a description of alternative facilities or services, if available.

The notice will be placed at all public entrances and service counters on our premises.

8. Training for staff

Pay Power Loan Ltd. will provide training to all employees, volunteers and others who deal with the public or other third parties on their behalf, and all those who are involved in the development and approvals of customer service policies, practices and procedures. Individuals in the following positions will be trained:

Regional managers, store managers, store staff, delivery drivers, contract staff, co-op students, distribution or warehouse staff, customer service agents and office staff.

This training will be provided during employee orientation after they commence their duties.

    Training will include the following:
  • The purposes of the Accessibility for Ontarians with Disabilities Act, 2005 and the requirements of the customer service standard
  • How to interact and communicate with people with various types of disabilities
  • How to interact with people with disabilities who use an assistive device or require the assistance of a service animal or a support person.
  • Pay Power Loan policies, practices and procedures relating to the customer service standard.

Applicable staff will be trained on policies, practices and procedures that affect the way goods and services are provided to people with disabilities. Staff will also be trained on an ongoing basis when changes are made to these policies, practices and procedures.

As required, Pay Power Loan will keep records of the training provided.

9. Feedback process

The ultimate goal of Pay Power Loan Ltd. is to meet and surpass customer expectations while serving customers with disabilities. Comments on our services regarding how well those expectations are being met are welcome and appreciated.

Feedback regarding the way Pay Power Loan provides goods and services to people with disabilities can be made by e-mail, verbally, or by a suggestion feedback form. All feedback will be directed to the human resources department. Customers can expect to hear back in 15 business days.

Complaints will be addressed according to complaint categories already established in our companys complaint management procedures.

10. Modifications to this or other policies

We are committed to developing customer service policies that respect and promote the dignity and independence of people with disabilities. Therefore, no changes will be made to this policy before considering the impact on people with disabilities.

Any policy of Pay Power Loan that does not respect and promote the dignity and independence of people with disabilities will be modified or removed.

11. Roles/Responsibilities:

Employer: The role of the employer is to establish proper tools and resources in support of providing goods or services that uphold the four key principles of dignity, independence, integration and equal opportunity for all persons, including persons with disabilities.

Manager: The role of the manager is to ensure all employees under their direction have completed their training and support the policy.

Employees: The role of every employee is to ensure their understanding of the Customer Service policy and to abide by the policy at all times.

12. Questions about this policy

This policy exists to achieve service excellence to customers with disabilities. If anyone has a question about the policy, or if the purpose of a policy is not understood, an explanation should be provided by, or referred to, human resources department at 1330 Cornwall Road, Suite 205 Oakville, Ontario L6J 7W5, Canada.

Testimonial

It’s very easy to get your loan and there is no pressure on you. It is in your bank account quickly.

Frenklin

Easy to use and very transparent with T’s & C’s, so therefore promotes confidence in me as a customer.

Mark

Code Of Conduct

The Pay Power Loan Code of Business Conduct promotes and ensures a responsible and ethical work environment for all Employees and Directors. The Code includes a Confidential Hotline available to all employees to anonymously report suspected Code violations.

Corporate Governance and Nominating Committee

The Corporate Governance and Nominating Committee's mandate is to assist the Board of Directors in establishing and maintaining a sound system of corporate governance through a process of continuing assessment and enhancement. The Committee is responsible for:

  • Examining the effectiveness of the Corporation's corporate governance practices and proposing such procedures and policies as the Committee believes are appropriate to ensure that:
    • i.   The Board clearly functions independently of management,
    • ii.  Management is clearly accountable to the Board of Directors of the Corporation, and
    • iii. Procedures are in place to monitor the effectiveness of performance of the Board, Committees of the Board and individual Directors;
  • Providing an appropriate orientation program for new Directors such that all new Directors fully understand the role of the Board and its Committees as well as the contribution individual Directors are expected to make (including commitment of time and energy that the Corporation expects from its Directors);
  • Identifying and providing continuing education opportunities for all Directors, so that Directors may maintain or enhance their skills and abilities as Directors, and their knowledge of the Corporation's business remains current;
  • Periodically reviewing the mandates of the Board and Committees of the Board and making recommendations to the Board if any changes to the mandates or additional Committees of the Board are required or appropriate;
  • Developing such codes of conduct and other policies as are appropriate to deal with the confidentiality of the Corporation's information, insider trading and the Corporation's timely disclosure and other public Corporation obligations;
  • Taking such other steps as the Committee decides are appropriate, in consultation with the Board, to ensure that proper corporate governance practices are in place for the Corporation, with reference to the corporate governance guidelines established by the securities regulatory authorities or recommendations and other regulatory requirements on corporate governance;
  • Approving outside counsel or advisors to be engaged by individual Directors when deemed appropriate with the cost to be borne by the Corporation; and
  • Reviewing and assessing annually Director attendance, performance and the size and composition of the Board, all in conjunction with the Chairman of the Board. In addition, the Committee shall be responsible for identifying and recommending to the Board, suitable candidates for nomination as new Directors, and reviewing the credentials of Directors standing for re-election. A detailed description of the Company's approach to corporate governance is outlined in the Management Information Circular issued in connection with the Annual Meeting of Shareholders, a copy of which is available through the Company.

Code Of Business Conduct

Operating since 1990, Pay Power Loan Ltd. is the largest merchandise leasing company in Canada and the third largest in North America. Through a combination of both corporate and franchise stores, Pay Power Loan leases, with or without an option to purchase, top quality, brand-name household furnishings, appliances, home electronics and computers to consumers under weekly or monthly business agreements. Beyond the leasing business and through Pay Power Loan Services, Pay Power Loan also offers its customers short-term loans, generally in the range of $500 to $5,000, and other financial services such as cheque cashing and prepaid cards. The services offered by Pay Power Loan Services bridge the gap between traditional financial institutions and payday lenders, providing a realistic alternative for many customers. Pay Power Loan Services commenced operations in 2006. Pay Power Loan Ltd. is listed on the TSX under the symbol "EH"??.

Vision

Everyone should be given the opportunity to enhance their home and lifestyle. We are the leader in helping people get exactly what they want for as long as they want right now.

Mission

We are a relationship-driven business that thrives on the opportunity to provide customers access to household goods and services that enhance the quality of their lives.

Our Values

  • Integrity
  • Respect
  • Quality
  • Pride
  • Enterprising

About the Code of Business Conduct

The Pay Power Loan Code of Business Conduct (the "Code") has been designed to promote a responsible and ethical work environment for all Pay Power Loan affiliated companies, its employees and its directors. The Code contains guidelines on proper behaviour in the workplace and who you should contact if you have specific questions or concerns. References in the Code to Pay Power Loan or the Company are generally intended to mean Pay Power Loan Ltd. and all of its affiliated companies (including Pay Power Loan Services Inc., and Pay Power Loan U.S. Ltd.) as a group, where applicable.

Your Responsibilities

In doing your job, you are responsible for abiding by Pay Power Loan policies and all municipal, provincial, state and national laws in Canada and the United States or other jurisdictions as appropriate. You are responsible for knowing and following the laws and policies that relate to your job, including the policies in the Code and all other Company policies, including but not limited to the Code, Operations manuals, Management and Policy manuals, Employee Handbook and any other operating standards or procedures. Violating these policies may result in disciplinary actions up to and including termination of employment, recovery of damages and filing of criminal charges. It is your responsibility to ask questions, make appropriate disclosures, and bring potential problems to Management's attention.

All employees, managers and directors throughout the term of their employment shall diligently, honestly and faithfully serve the Company and shall use their best efforts to promote and advance the interests and goodwill of the Company; conduct themselves at all times in a manner which is not prejudicial to the Company's interests; and devote 100% of their full time and attention to the business and affairs of the Company generally and specifically to your duties hereunder. Further, all collections activities will be in line with our retention practices, and in accordance will local and national laws. All employees must adhere to the Privacy laws of each of the provinces and states, as well as those established on a national basis, in Canada and the United States or other jurisdictions as appropriate.

Resources And Contacts

Pay Power Loan maintains a Confidential Hotline (MySafeWorkplace.com) that can be used to report suspected violations of the Code or illegal activities. This number is 1-800-461-9330.

Employee Assistance Program (EAP)

If you are an employee in need of assistance due to personal, health or family reasons, please contact our EAP provider, Shepell-fgi at 1.800.387.4765.

Applicable Laws

Pay Power Loan employees and directors are required to comply with all applicable laws in Canada and the United States. Any instance of non-compliance with applicable law(s) may subject the employee to corrective action up to and including termination of employment, recovery of damages, and filing of criminal charges.

If the Code or the Company requires you to take an action or prohibits you from taking action that you believe is in violation of a law, or if you believe there is a conflict between the applicable laws of two or more jurisdictions, please speak with Human Resources or call the Confidential Hotline.

The Company acknowledges that there are differences in local laws and practices. In some instances, the Code establishes policies and/or requirements that would not otherwise be required in some provinces and states. In keeping with the Company's commitment to meet the highest standards of business conduct wherever we do business, all employees and directors must comply with all aspects of the Code, even if local laws do not require it. Conversely, there may be laws in certain provinces and states that may not specifically apply outside of those provinces and states, and therefore, are not specifically addressed in the Code. You are responsible for knowing and following all such laws and policies that relate to your job.

Throughout this Code, references to "applicable laws" include any law, rule or regulation applicable to the Company or its employees or directors.

Reporting Code Violations

It is important to report all violations or suspected violations of the Code. If you have a question about the policies outlined in the Code, talk to your supervisor. If you want to report a possible violation, call the Confidential Hotline. Reports to the hotline may be made anonymously. Confidentiality for those who report will be maintained to the extent possible. Neither your supervisor nor the Company will take any action against you for reporting suspected misconduct in good faith.

No Retaliation (Whistleblower Policy)

We are required by law to have a whistleblower policy and to protect our employees from acts of retaliation. It is against Company policy for any supervisor or any employee to take any action against another employee or director, a vendor or any other third party which has lawfully provided information, assisted in an investigation or otherwise disclosed information to a government agency when the person has a reasonable belief that the information is true and reveals a violation of or noncompliance with applicable law and/or Company policy. If you believe that you have been the subject of such retaliation, call the Confidential Hotline.

If you know that someone is carrying on business in a way that is counterproductive to a safe work environment or involves any illegal activity, it is your responsibility to speak up. Contact the Human Resources or Loss Prevention departments, or the Confidential hotline. All reports are confidential and will be investigated.

Equal Employment Opportunities

The Company is an Equal Opportunity Employer. Fair employment practices maintained throughout our operations are designed to prevent discrimination on the basis of race, religious beliefs, political beliefs, ancestry, place of origin, colour, ethnic or national origin, civil status, citizenship, creed, sex (including pregnancy), sexual orientation, age, record or summary of offences, marital status, family status, mental or physical handicap, source of income.

The Company will ensure that all hiring, training, transfer and promotion decisions are in accordance with equal employment opportunity principles and legislative requirements.

Harassment And Discrimination

The Company recognizes that each human being has the right to be treated fairly, without distinction, exclusion or preference based on race, religious beliefs, political beliefs, ancestry, place of origin, colour, ethnic or national origin, civil status, citizenship, creed, sex (including pregnancy), sexual orientation, age, record or summary of offences, marital status, family status, mental or physical handicap, source of income.

The Company recognizes that all its personnel have the right to work without sexual or racial harassment and will do everything in its power to enforce this statement. Sexual or racial harassment may be defined as an attitude that translates into words, actions or gestures of sexual or racial connotation that are undesired and generally repetitious, and which have a negative effect on a person's physical or psychological dignity or integrity, or lead to an unfavourable working environment.

Complaint Procedures

Pay Power Loan will promptly and thoroughly investigate all complaints of discrimination or harassment. Employees are expected to cooperate fully in any such investigation. Failure to do so may result in discipline up to and including termination. Moreover, neither your supervisor nor the Company will take any action against you for making a complaint of discrimination or harassment or for cooperating in any such investigation.

If any employee is determined to have violated this policy, Pay Power Loan will take appropriate corrective action up to and including termination with or without cause. The complainant will be informed that remedial measures have been taken. We cannot help resolve a discrimination, harassment or retaliation problem unless we know about it. Therefore, it is every employee's responsibility to bring those types of issues to Management or Human Resources' attention so that the appropriate steps can be taken to resolve the issue. If you feel you have been subject to discrimination, harassment or retaliation, or that you have witnessed it in the workplace, please report it promptly by way of the Confidential Hotline.

Employee Personnel Records and Timekeeping

The Company maintains an "official" personnel file and other employment records permanently for each employee. Each supervisor, department and store location must maintain a "working" personnel file for each employee in a secure location on site. Employees in the stores are required to log in and out of the designated labour tracking system every day, including lunch breaks in excess of 30 minutes.

All time worked by an employee, whether scheduled or unscheduled, overtime or straight time, authorized or unauthorized - must always be recorded exactly as it occurred. Your supervisor will show you the procedure for recording time worked. Under no circumstances may you allow a fellow worker to login in to the time and labour management system for you, and you must not log in to the system unless you are at your permanent work location (i.e. it is not permissible for you to log in from a remote location). Anyone caught punching in and out from another location or by another employee will be terminated. You must keep record of time worked as required by law or policy in your province or state. You should also note all time that you don't work but for which you are still paid and have your supervisor verify the time. If for any reason an entry must be changed, your supervisor must make the change, and you must initial it.

All overtime must be authorized by the Regional Manager or Department Manager as appropriate prior to working any additional hours. Hours worked in excess of the schedules must be documented on the schedule that is posted in the stores. Overtime is only paid with DVP approval or Vice President approval.

If you have any concerns about record keeping or just want more information, call the Human Resources Department, or the Confidential Hotline.

Performance Appraisals

Every employee receives a written performance appraisal, using the appropriate Company form, at least once per year. Employees on authorized leave will have their review dates postponed by the number of days in excess of 31 that they are away from work. Reviews should also be completed after the initial probationary period for new employees. All employees must receive a written copy of their performance review.

Workplace Violence

Pay Power Loan has zero tolerance for workplace violence. Consistent with our internal policies, Bill 168, and other provincial, state and federal legislation, acts or threats of physical violence, including intimidation, harassment, and/or coercion, which involve or affect the Company or its employees or directors, will not be tolerated. Acts or threats of violence include conduct that is sufficiently severe, offensive or intimidating to alter the employment conditions at Pay Power Loan or to create a hostile, abusive, or intimidating work environment for one or several Pay Power Loan employees.

The Company does not permit any type of firearm or weapon on its premises or in any Company vehicle. Employees may not be in the possession of a firearm or weapon while engaged in any Company business activity.

Alcohol And Drugs

Employees may not use, sell, possess, purchase or transfer alcohol or illegal drugs on Company premises, in Company vehicles or during work hours. The only exception is that alcohol may be consumed by people of legal drinking age at company-sponsored functions, in moderation.

Employees must not be under the influence of illegal drugs or alcohol during work hours, regardless of when the drugs or alcohol were consumed. It is also a violation of this policy to sell, transfer or distribute personal prescription drugs on Company premises, in Company vehicles or during work hours.

Health And Safety

The Company will take all reasonable and practical steps to safeguard all employees, customers and our communities, in order to maintain at all times an effective safety program, and has zero tolerance for those that intentionally put others at risk for injury. Accidents that cause suffering, loss of time and income, loss of profits and property damage can be reduced and even eliminated by executing the Company's Health and Safety policy.

In fulfilling this commitment to protect both people and property, we will provide and maintain a safe and healthy work environment, in accordance with acceptable industry standards, and in compliance with legislative requirements. We will strive to be proactive to eliminate any foreseeable hazards which may result in fires, security losses, property damage, accidents and personal injuries. All employees will be equally responsible for minimizing accidents within our facilities.

Accidental loss can be controlled through good management in combination with active employee involvement. Loss prevention is the direct responsibility of managers and employees functioning as a team. All employees shall comply with the Company's health and safety requirements as they apply to the operation and maintenance of facilities and equipment. All employees will perform their jobs properly in accordance with established procedures. It is in the best interest of all parties to consider health and safety in every activity. All employees are required to review the Emergency Response Plan / Evacuation Procedures contained in their store or office location.

Smoking is not permitted in any of our facilities or vehicles.

Confidentiality and Non-Disclosure

By virtue of your employment with the Company, you will be exposed to or will have access to confidential and proprietary information regarding the Company's business, all of which are the property of the Company. Confidential Information includes, but is not limited to, trade secrets, industrial and/or operational processes, patents, customer lists, customer information including customers' or potential customers' specific needs and requirements, pricing information, product development plans, marketing methods and plans, financial results which have not been publicized, business plans and budgets and all other systems, methods, procedures, compilations of information, records and so forth which are owned and shall continue to be owned solely by the Company ('Confidential Information').

During the term of your employment with the Company, and continuing indefinitely thereafter, you agree that you shall hold in confidence and refrain from disclosing the Company's Confidential Information and shall not, except in connection with the performance of your duties with the Company, directly or indirectly use, convey, disclose or reveal, or attempt to use, convey, disclose or reveal, any of the Confidential Information, unless approved by the Company in writing and at the sole discretion of the Company or required to do so by an applicable governmental or regulatory body.

Privacy

Pay Power Loan has implemented a formal Privacy Policy which describe our personal information handling practices and assure our continuing commitment to protect all personal information that we handle in the course of commercial and employment activities. All employees and directors are required to comply with this policy at all times. No employee or director shall disclose personal information related to employment, customer accounts, collection activities or any other personal information to any other employee or any external person or organization without the approval of the Privacy Officer.

All employees are responsible for complying with Pay Power Loan's Privacy Policy and sign-off on the Code of Conduct also serves as sign-off that you have read, understood and will comply with the Company's Privacy Policy. Requests for privacy information may be directed to the Privacy Officer or online at www.PayPowerLoan.ca.

Intellectual Property Rights

Any and all ideas, designs, procedures, formulas, inventions or improvements (whether patented, patentable or not) trade names, logos and writings as other materials written or produced by you (collectively, the â??Intellectual Propertyâ?) which you may conceive or produce during the period of your employment with the Company relating or in any way pertaining to or connected with the scope of your employment, or in which the Company has been or may become interested, shall be the sole and exclusive property of the Company.

You shall promptly and fully disclose the Intellectual Property to the Company and shall not disclose the same to others, except with Company's express written approval.

When requested by the Company, you shall execute any and all applications, assignments and other instruments which the Company shall deem necessary in order to apply for and obtain patents, copyrights, industrial designs and/or any official documents(s) relating to exclusivity of the invention, design or copyright of Canada, United States or any foreign country for such Intellectual Property and in order to assign and convey to the Company the sole and exclusive right, title and interest in and to such Intellectual Property. In particular, respecting writings or other copyrightable materials, the Company may claim authorship as an employer or work made for hire.

Accuracy Of Company Records and Integrity in Communications

Accurate records are essential to the successful operation of Pay Power Loan. Employees are responsible for ensuring the protection and accuracy of all Company records, information, and accounts. For example, claims on an expense report or time record, payments and other transactions must be correctly recorded and accounted for and properly authorized in accordance with Company policies.

All employees must comply with Company policies, procedures, standards and controls. Employees must act to ensure timely and accurate reporting of Company information. Accounting and financial reporting of actual transactions and forecasts must follow the Company's accounting policies as well as all generally accepted accounting principles and laws.

Documents that belong to the Company must not be destroyed. Any communication that leads to a legal claim either civil or criminal must also be retained.

If you have any concerns about the Company's financial controls, accounting, financial reporting or auditing please call the Confidential Hotline.

Conflicts of Interest

All business decisions should be made solely in the best interests of the Company, not for personal benefit. Therefore, you should avoid any action that creates - or appears to create - a conflict of interest with the Company. Questions about potential conflicts of interest and disclosure of these situations as they arise should be directed to Human Resources, or the Confidential Hotline.

You may not have a financial interest in any supplier, vendor, distributor, landlord or competitor of the Company without first getting written approval from the President and Chief Executive Officer. An improper financial interest is one that creates or appears to create a conflict of interest with the Company. In addition, employees may not receive any form of compensation from anyone other than the Company for doing their job, including accepting tips from customers. If you have a question about what constitutes an improper financial interest, call the Confidential Hotline.

Employees are not permitted to lease merchandise through a store, obtain a loan from a kiosk, or access the account of a family member or close personal friend with whom they have a relationship.

Doing Business With Spouses, Relatives or Friends

You must obtain the written approval of your Divisional Vice President, for field staff, or the President and Chief Executive Officer, for support centre staff, before doing Company business with parties such as relatives, friends, spouses or life partners, and must always keep the Company's interests top priority in those interactions. In addition, you may not pressure others into hiring a relative or friend as an employee, supplier, vendor, distributor or landlord of the Company.

Purchases

Employees are not permitted to purchase merchandise through the store lease method. This includes immediate family members, if they reside in the same household. Employees must utilize the internal Employee Purchase Policy process to purchase new merchandise only, through the Corporate office.

Customers hired in to our stores as employees must either pay out their accounts in full, return the merchandise or transfer the account to an employee purchase agreement, to be paid through payroll deduction.

Relatives of employees are not permitted to have access to Company store computers, access codes, customer files, employee records, vehicles, security codes, etc. or any other Company material, and are not permitted to be in the store during non-business hours.

Employees are not permitted to â??borrowâ? product from the store. Any special requests must be submitted to the DVP for review and approval, and must be documented on file.

Fraternization

While we recognize and respect the rights of employees to freely pursue personal relationships with those they encounter in the work environment, employees must use good judgement in ensuring that those relationships do not negatively impact their job performance, their ability to supervise others or the work environment.

Any workplace conduct arising from a romantic relationship, intimate relationship or friendship between employees may be improper if the conduct creates an uncomfortable work environment for others or there is sharing of confidential and private information. Favouritism, open displays of affection and making business decisions based on emotions or friendships rather than on the best interests of the Company are examples of inappropriate conduct.

Employees who find themselves in an intimate relationship or friendship should use tact, good judgment and common sense. Employees in a reporting relationship with someone that they are consensually dating or romantically involved with must inform the next level of management or Human Resources. We will work with both individuals to try to separate their employment responsibilities from their personal relationship in order to protect the interests of both employees and others and to avoid any conflict of interest.

Gifts And Entertainment

Employees should never accept anything of value from anyone, including a current or prospective supplier, vendor, distributor, landlord or competitor of the Company when doing so might compromise, or appear to compromise, the objectivity of your business decisions. If you have a question about this policy, call the Confidential Hotline.

Bribes And Improper Payments

Employees or agents of the Company should never directly or indirectly offer, promise to pay or authorize the payment of money, products, services or anything of value to any government official or agent in any country in order to influence acts or decisions of government officials, to receive special treatment for the Company or for personal gain. All Pay Power Loan employees must abide by the local laws. Employees working with government officials should request further guidance from the President and Chief Executive Officer. For more information, call the Confidential Hotline.

Political Contributions and Activities

Personal Contributions/Activities

You are, of course, free to participate in personal religious or political activities as you see fit. In doing so, however, you should make it clear that you are acting in your individual capacity and not on behalf of the Company.

Fair Dealing

You should always deal fairly and honestly with the Company's customers, suppliers, vendors, competitors and employees. You should not take unfair advantage of anyone through manipulation, concealment, abuse of confidential information, falsification, misrepresentation of material facts or any other intentional unfair dealing practice.

Outside Employment

Except as described below, employees may not work for or receive compensation for personal services from any supplier, vendor, distributor, landlord or competitor of the Company, or any business entity that does or seeks to do business with the Company.

Outside Service As A Director Or Officer

Employees must obtain approval from the Board of Directors before serving on the board of directors of another for-profit company. Employees may serve as a director, trustee or officer of a non-profit organization in their individual capacity and on their own time, but must get prior permission from the Board of Directors to do so as a representative of the Company. If you have a question about this policy, call the President and Chief Executive Officer.

Insider Trading

As an Pay Power Loan employee or director, you are not allowed to trade securities or to tip others to trade securities of Pay Power Loan or other companies when you are aware of material information that has not been made available to the public.

Material information is any information that could be considered important by a person in deciding whether to trade in a company's stock. Examples include: information relating to sales, inventory, margins, earnings, significant proposed acquisitions, planned stock splits, proposed changes in dividends and other information that has the potential to affect the stock price of Pay Power Loan or another company. As a general rule, if the information makes you think of buying or selling the stock of Pay Power Loan or another company, it probably would have the same effect on others and probably is material information.

Once material information has been fully disclosed to the public, employees may trade in the Company's stock. Full public disclosure generally means a widely distributed press release followed by publication in the print media and three or more days for distribution and interpretation of the information. If you are unsure whether information is material or has been released to the public, call the Senior Vice-President and Chief Financial Officer or the President & Chief Executive Officer before trading.

Trading on inside information can have severe consequences. Each provincial Securities and Exchange Commission and/or similar agencies are authorized to bring a civil lawsuit against anyone who trades on inside information (or who provides another person with inside information) and also against the Company. Insider trading is also a crime subject to criminal penalties, including jail terms.

Complaints To Government Agencies

Occasionally, an applicant, customer, or current or former employee may file - or threaten to file - a complaint against the Company with the government. If you are notified about such a complaint, immediately call Human Resources or the Confidential Hotline. Neither your supervisor nor the Company is permitted to take any action against you for either making or reporting such a complaint.

Government Proceedings And Requests For Information

It is Company policy to cooperate with appropriate government requests or investigations. If you are asked to provide information (either written or verbally) for a government investigation or if a government representative appears at your workplace, call the Human Resources Department or the Confidential Hotline before providing any information. All information provided should be truthful and accurate and must not obstruct, influence or impede the request for information. Employees should not alter, falsify, mutilate, cover up, or destroy any documents or records related to a government request or investigation or legal proceeding.

Media Inquiries

You must not speak to reporters on behalf of the Company. Individuals who talk directly to reporters without going through the proper channels risk providing incorrect information or revealing proprietary strategies. Please direct members of the media with inquiries to the President and Chief Executive Officer.

The Environment

Pay Power Loan is committed to minimizing any negative impact of our business activities on the environment. All employees are responsible for complying with applicable environmental laws and Company policies.

Email/Internet

It is strictly prohibited to send or forward email or access internet sites that contain chat rooms, blogs, libelous, defamatory, pornographic, offensive, racist or obscene remarks, pictures or any other material that the company deems inappropriate. If you receive an e-mail of this nature, you must promptly notify your supervisor, delete the email and notify the sender that you are not permitted to receive email of this nature from them or anyone else.

If there is evidence that you are not adhering to the guidelines set out in this policy, the Company reserves the right to take disciplinary action, including termination and/or legal action.

Pay Power Loan will contact the authorities if illegal activity of this nature is found on any employee's computer, internet or email accounts.

Employees are not permitted to access social networking sites such as Facebook, MSN, MySpace, etc. during business hours.

Confidential work related information may not be shared with anyone outside the business particularly through any of these social networking sites. Pay Power Loan may take legal action against any employee that violates the privacy of another employee, customer or if it determines that there is a breach of confidentiality with respect to the business, or libelous and defamatory comments made about the Company or its employees.

Loss Prevention and Theft

The Loss Prevention department supports the strict adherence of corporate policies and procedures, the protection of assets, and the safety of our employees.

Any employee implicated in the manipulation of assets or accounts, theft, fraud or found to be conducting themselves in a manner that contravenes our policies and procedures will be disciplined, up to and including termination. Pay Power Loan has a zero tolerance policy to violations of this nature and expect all employees to adhere to all company policies and procedures at all times.

To further ensure the security and safety of all our employees and customers, some Pay Power Loan stores are equipped with recorded video and audio surveillance which may, if applicable, be used during an internal or legal investigation.

To report suspicious activities, contact the Loss Prevention Department at lossprevention@PayPowerLoan.ca.

Employee Use of Company Vehicles

Employees are not permitted to use the Company vehicles for personal use or carry passengers that are not Pay Power Loan employees.

Employees that incur fines, tickets or moving violations in a Company vehicle at anytime are wholly responsible for paying the fines and tickets within the time allotted.

Employees that are required to drive Company vehicles must always ensure the vehicles meet the standards as imposed by the Ministry of Transportation or they are forbidden to move the vehicle.

Employees may only drive a Company vehicle if they meet the requirements of the Company's driver's standards with respect to years licensed, points or other incidents against their license, restrictions, etc. These must be verified upfront in order to comply with Ministry of Transportation of other regulatory mandates. Employees that have not been cleared to drive a Company vehicle may not drive until they have been cleared to do so.

Smoking is not permitted in any Company vehicle.

Inventory Management

All employees are required to abide by the Company's inventory practices at all times. This includes the weekly and monthly checks, proper management of service and loaner units, as well as idle units. Employees are not permitted to hide or attempt to hide missing inventory, or inventory that is to be charged off or hold pick-ups (physically picking up product from a customer's home but not picking it up within the RSSS system). Strict adherence to these standards is required at all times.

Deposits/NSF Cheques

All deposits must be made daily per standard operating procedures, including use of deposit logs. Cheques returned due to Non-Sufficient Funds ("NSF") must be entered into the system when received. Employees are not permitted to hold deposits or NSF cheques for any reason.

Fraud

Fraud is illegal. It is also wrong and unacceptable to Pay Power Loan. Any indication of fraud will be rigorously investigated and dealt with in a firm and expeditious manner.

Employees are responsible to act at all times with the highest degree of honesty and integrity. Employees are responsible for complying with Pay Power Loan's Code of Business Conduct and the Fraud Policy. Any employee of Pay Power Loan who knows or has reason to believe that fraudulent activity has occurred is obligated to report it immediately to the Human Resources or Loss Prevention Departments, or by way of the Confidential Hotline.

Employees are responsible for complying with Pay Power Loan's Code of Business Conduct and the Anti- Fraud Policy. Sign-off on the Code of Conduct also serves as sign-off that you have read, understood and will comply with the Company's Anti-Fraud Policy.

Authorization Policy

As part of its system of internal controls, the Company has established an Authorization Policy that specifies dollar value maximums by employment position limiting the extent of goods or services that can be procured by all employees on behalf of the Company. Additionally, this Authorization Policy specifies which employees are able to sign and ratify contracts that commit the Company to current or future activities or obligations on behalf of the Company.

All employees are responsible for complying with Pay Power Loan's Authorization Policy and sign-off on the Code of Conduct also serves as sign-off that you have read, understood and will comply with the Company's Authorization Policy.

Policy Changes

Over time, new policies may need to be presented/introduced and existing policies revised. While the Company reserves the right to make these changes with or without notice, the Company will try to let you know about any changes affecting your employment as soon as possible.

Waivers

The provisions of this Code may only be waived by the Company's Board of Directors. Any waiver of this Code for an executive officer or director will be promptly disclosed as required by law or stock exchange regulation.   

Privacy Policy

This agreement is governed by the laws of Canada and the laws of the province in which you obtain the loan. Any dispute concerning this agreement shall be determined by binding arbitration under the applicable arbitration legislation.

You consent to our (which includes affiliates, subsidiaries and related organizations) collection, use and disclosure of your personal information for the purposes of: obtaining a credit report or related financial history; verifying the information you have provided in connection with this application; administering, servicing and enforcing your loan; collecting outstanding debts; meeting legal, regulatory, security and processing requirements; and otherwise with your consent as described in our Privacy Policy or as permitted or required by law. You further agree that we may disclose your personal information to and collect your personal information from affiliates, subsidiaries, credit bureaus, potential creditors and reporting agencies, businesses and financial institutions with whom you have had or may have a financial relationship and other references you have provided in support of this application for the purposes described above. Your consent is effective from the date hereof and shall continue for as long as necessary to fulfill the purposes for which it was collected and to comply with applicable laws. Your consent remains valid after the termination of our relationship with you. Social Insurance Numbers, birth dates or other identifiers, if collected, may be used to verify your identity. If you have provided personal information relating to a third party, you have obtained consent from that individual. By signing below, you consent to receiving transactional messages and account alerts by telephone, SMS (text message), voice message and email at the contact information you have provided. Unless you opt out by calling +1 646 - 475 - 2369, we may also use your personal information to offer you incentives, advertising promotions and information regarding our products and services. If you have any questions, please contact our Privacy Officer at 1330 Cornwall Road, Suite 205 Oakville, Ontario L6J 7W5 or at +1.888.866.2233. Visit our website at www.PayPowerLoan.ca for a copy of our Privacy Policy.

Renewal Policy

We offer a loan increase after you have paid a percentage of the loan. Individuals may qualify to re-borrow up to $5,000, based on credit and payment history.

Full Privacy Policy

Pay Power Loan Ltd., including its affiliates, subsidiaries and related organizations ("Pay Power Loan", "we", "us" or "our"), have provided this Privacy Policy ("Policy") to describe our personal information handling practices, and to assure you of our continuing commitment to protect all personal information that we handle in the course of commercial activities. "Personal information", as used in this Policy, means information about an identifiable individual, but does not include an individual's business contact information.

Our Policy applies to all former, current and potential customers and may change from time to time. We reserve the right to update or modify this Policy at any time, with or without notice. If we use or disclose personal information for purposes materially different than those described in this Policy, we will make reasonable efforts to notify affected customers, including posting a revised Policy on this website.

Purpose

We collect and use your personal information for administering our businesses, which include leasing household furnishings, appliances, and home electronic products and providing financial services. We collect personal information from your application, through references, employers and other financial institutions you have identified as well as credit bureaus and other third party sources:

We may collect personal information for purposes such as the following:

  • To manage and promote our business activities;
  • To verify your identity and determine your eligibility for products and services;
  • To open and administer accounts and to provide any requested products or services;
  • To evaluate current and ongoing creditworthiness and other requirements and to determine your eligibility or suitability for products or services;
  • To advertise, market and promote our products and services to customers who have not opted out of such communications, including by mail, email and telephone, including automatic dialing and announcing devices;
  • To collect outstanding debts;
  • To protect our business interests and our customers, including detecting and preventing fraud and other unauthorized or illegal activities;
  • To maintain business records for reasonable periods to meet legal and regulatory record retention requirements; and
  • For other purposes with your consent or as permitted or required by law.

Collection

We limit the amount and type of personal information collected to that which is necessary and we collect personal information by fair and lawful means. Personal information that we collect includes:

  • Customer name and contact information, including mailing address, telephone number, fax number and/or email address;
  • Additional information for identity matching and credit check purposes, such as occupation, name of employer, names and contact information for references, assets, liabilities, income, previous address, number of dependents, Social Insurance Number (if provided), date of birth or driver's license number;
  • Information about the account or loan, such as current and historical account or loan information, balance and indebtedness, account transaction history and similar information, and records relating to the handling of any inquiries or complaints;
  • Payment-related information, such as banking information; and
  • Such other information we may collect with your consent or as permitted or required by law.

Disclosure

We may disclose personal information under the following circumstances:

  • To credit bureaus, credit reporting agencies and to your current or future creditors for the purpose of maintaining your credit history and providing credit references;
  • To financial institutions for payment processing purposes;
  • To a prospective seller or buyer of any business or asset or where personal information about customers will be a transferred asset;
  • To service providers or other third party organizations to perform functions on our behalf. We use contractual or other means to ensure that a comparable level of protection is provided. Some of our service providers may be located in the United States and will be subject to applicable legal requirements in that country including lawful requirements to disclose personal information to government authorities in certain circumstances.
  • To third parties as reasonably necessary:
    • To enforce your contracts or collect on a payment of a debt owed to us;
    • For the purposes of detecting and preventing fraud;
    • In connection with audits;
    • For the purposes of meeting legal, regulatory, industry self-regulatory, risk management and security requirements;
  • Unless you have opted out [by clicking on the 'Unsubscribe' button OR by calling +1.888.866.2233 (a) to our affiliates, subsidiaries or related organizations to enable them to offer you additional products and services, (b) to selected third parties (including insurance partners or other lenders) who may use it to contact you, as permitted by law, in relation to offers they feel might interest you; and
  • For other purposes with your consent or as permitted or required by law.

Safeguards

We use safeguards and other security standards to ensure that all personal information in our custody and control is protected against loss or theft, as well as unauthorized access, disclosure, copying, use or modification, regardless of the format in which the information is held. Safeguards will vary depending on the sensitivity, format, location, and storage of your personal information. Authorized employees and agents who require access to fulfill their job requirements will have access to personal information.

Websites and E-Mail Communication

We do not guarantee the confidentiality of any communications made by you via e-mail or otherwise through our website. If you wish to provide us with information of a confidential or sensitive nature, please contact us directly by telephone to arrange for delivery/transmission of such information by secure means.

We use cookies and other tracking technologies to improve your experience on our website, to facilitate the online application process and for internal research and reporting purposes. A "cookie" is a bit of information that a website sends to your web browser that helps the site remember information about you and your preferences, such as your IP address and the pages of the website that you visit. You can set your browser to notify you when you receive a cookie or to refuse cookies altogether. However, if you refuse cookies, you may be unable to use certain features of our website.

Our website may contain links to third party websites. These websites are not governed by our Policy and we are not responsible for any personal information you provide. We encourage you to read the privacy policy of every website you visit.

Consents

Consent can be express or implied. You may provide your consent in some circumstances where notice has been provided to you about our intentions with respect to your personal information and you have not withdrawn your consent for an identified purpose, such as by using an 'opt out' option provided, if any. By submitting your personal information to us, you consent to the collection, use and disclosure of such personal information as described in this Policy or otherwise at the time of collection. If you provide us with personal information of another individual, you are deemed to have obtained consent from such person. Subject to legal or contractual requirements and reasonable notice, you may withdraw your consent at any time by contacting our Privacy Officer. If you withdraw your consent, we may be limited or unable to provide you with certain services or information.

Access, Correction and Contacting Us

We may establish and maintain a file containing your personal information for the purposes described in this Policy, which will be accessible at our head office located at 1330 Cornwall Road, Suite 205 Oakville, Ontario L6J 7W5. You may request access to or correction of your personal information. Requests must be made in writing and addressed to our Privacy Officer. We will respond to written requests within a reasonable time (generally 30 days). Copies of records containing personal information may be subject to a fee. We will use our best efforts to ensure that personal information is accurate, complete, and up-to-date and will take reasonable efforts to verify your identity before granting you access or making any corrections. If you successfully demonstrate the inaccuracy or incompleteness of any of your personal information, we will amend the information as required. If we refuse access to personal information or disagree with an assertion that information held by us is incorrect, we will provide a written explanation for such refusal. Your right is subject to applicable law.

Code Of Practice

Code Of Practice/Policy

Loans and the amount loaned are subject to an application and credit approval. Payment plans are based on paydays and can be bi-weekly, semi-monthly or monthly. Loans are based on a 9-36 month term. 24 hour approval based on the submission of a complete application and verification of information including all required documentation and a credit check. See www.PayPowerLoan.ca for Terms and Conditions and our Code of Conduct.

Rates

Pay Power Loan helps you when you need it most, but in the most responsible way. Total transparency, free early repayments, and a payment protection plan are just some of the ways we put your interests first. We know that fine print can be painful, but below we provide you with all of the facts. If you ever need help, we are just a phone call or email away!

Rates, Fees And APR

Total cost of borrowing expressed as an Annual Percentage Rate of 46.96%. Loan payment includes applicable provincial taxes, but excludes prepaid card fees. Loan Protection Program (LPP) coverage is optional at an additional fee (you may obtain similar services from other sources).

Late-Payment And Non-Payment

In the event that any cheque or other payment method is not honored due to non-sufficient funds, you will be charged a $50.00 fee per event. If you fail to make a payment when due, the unpaid principle and accrued interest will immediately become due and payable at our option without notice to you. You are responsible for any legal costs incurred to collect upon any amount owing and/or incurred to protect or realize the security given for the loan.

Loan Funding Type

  • Separately purchase a pre-paid card product from us for an additional cost and have the loan loaded onto the card. You will be provided with a separate disclosure document setting out the fees you will incur in using a pre-paid card.
  • Funds directly deposited into your bank account via wire transfer or EFT will incur an additional charge of $1.00 per transfer.
  • Loans funded by cheque are free and mailed directly to your home.

APR 46.96%

 

Responsible Lending

Pay Power Loan helps you when you need it most, but in the most responsible way. Total transparency, free early repayments, and a payment protection plan are just some of the ways we put your interests first. We know that fine print can be painful, but below we provide you with all of the facts. If you ever need help, we are just a phone call or email away!

Rates, Fees And APR

Total cost of borrowing expressed as an Annual Percentage Rate of 46.96%. Loan payment includes applicable provincial taxes, but excludes prepaid card fees. Loan Protection Program (LPP) coverage is optional at an additional fee (you may obtain similar services from other sources).

Late-Payment And Non-Payment

In the event that any cheque or other payment method is not honored due to non-sufficient funds, you will be charged a $50.00 fee per event. If you fail to make a payment when due, the unpaid principle and accrued interest will immediately become due and payable at our option without notice to you. You are responsible for any legal costs incurred to collect upon any amount owing and/or incurred to protect or realize the security given for the loan.

Loan Funding Type

  • Separately purchase a pre-paid card product from us for an additional cost and have the loan loaded onto the card. You will be provided with a separate disclosure document setting out the fees you will incur in using a pre-paid card.
  • Funds directly deposited into your bank account via wire transfer or EFT will incur an additional charge of $1.00 per transfer.
  • Loans funded by cheque are free and mailed directly to your home.

APR 46.96%

 

Terms & Condition

Pay Power Loan collects personal information, including your name, address, telephone number, social insurance number, income and other financial information, banking, vehicle, and reference information to confirm your identity and qualify you for the services for which you have applied. From time to time, Pay Power Loan may share this information with its subsidiaries as well as third party collection agencies whom we engage to assist us in the collection of bad debt or to agencies that acquire bad debt.

By completing this form, you acknowledge that you will be contacted by one of our representatives regarding our products and services. Also, by way of this form, you consent to Pay Power Loan using your personal information for the purposes stated above and in accordance with our Privacy Policy. This policy is available on our web site. References cannot live at the same address and at least one must be a family member and all must be people you speak with regularly.

The following documents will be required to process your loan.

  • Completed Loan Application form.
  • Two(2)Copies of last pay stubs.
  • A statement showing last 30 days of banking transactions.
  • Recent phone bill (from the home address listed on application).
  • Copies of two (2) pieces of ID - Government issued with photo and signature.
  • Lease Agreement, Rent Receipt, proof of mortgage, or a signed statement from someone you are living with.

I certify that the information provided on this form is correct. I authorize complete verification of all information that I have provided, including use of a Consumer Credit Report. You may contact any person or company listed on the previous page and I fully release all parties from liability for any damage that may result. I confirm that I have given my consent for the purpose outlined above. By submitting an application online for a loan with Pay Power Loan, you agree that the information you have given Pay Power Loan on the application is complete and accurate. You agree that you have read our privacy policy and terms of use, and that you consent to, and accept this as written consent to authorize Pay Power Loan to contact your employer to verify your employment and to obtain a copy of your credit report from one of the Canadian credit reporting agencies.

Please Read Before Signing: As a condition of Pay Power Loan lending me money based on the information provided above, I make the following representation: I am not contemplating filing for bankruptcy within the next four months and have not consulted with an attorney or trustee concerning bankruptcy in the last 2 months.

Please note that Pay Power Loan does not currently lend to or solicit business from U.S. residents or residents of countries other than Canada. Please note that Pay Power Loan does not ever request a security deposit in exchange for processing a loan. Should you receive any such calls or requests, please contact our support centre at +1.888.866.2233.

To protect both you and us, we use services provided by a third-party to help decide whether to accept transactions from personal computers, mobile phones, or other devices. The third-party service checks whether these devices have been identified with fraudulent or abusive transactions in the past, such as reported instances of identity theft, account takeovers, or malware attacks. For this purpose, a cookie file, flash storage token, or other code file may be placed on your device to identify it in the future when you visit our website or connect with our applications. On connection with our site or service, we will transmit that device identification code to the third-party's server, along with data concerning certain technical attributes of your device such as the model, operating system, and browser version, as well as the IP address, all of which are used to confirm device identification. The third-party's server responds with a code recommending that transactions be accepted, denied, or reviewed, according to settings we have selected. We also report to the third-party if we conclude that a device has been used in connection with a fraudulent or abusive transaction with us. If you set your browser or device to reject these cookies or tokens, you may not be able to conclude some transactions through our website or application. We share with the third-party referenced above only information about the device you are using, which may also have been used or appropriated by others, and do not identify you or reveal the details of your transaction to that third-party. If your requested transaction is declined, or if you have questions about our use of a "device reputation" service, please contact Customer Service"   

Contact Us

Thank you for visiting Pay Power Loan Services online! Whether you have questions, concerns or suggestions, please let us know.

  • For general inquiries please phone +1 161 370 32701
    or email contact@PayPowerLoan.com
  • Address: 1330 Cornwall Road, Suite 205 Oakville, Ontario L6J 7W5

APR

We know that fine print can be painful, but we believe it's important you have all the facts!

Pay Power Loan is a division of Pay Power Loan Ltd., Canada's largest lease-to-own furniture, electronics, appliances, and computer retailer. Pay Power Loan offers a variety of financial services, including loans and prepaid cards. Pay Power Loan Ltd. is listed on the TSX under the symbol 'EH'. For more information.

24 hour approval (between Monday - Saturday) based on a completed application and customer verification including a credit check. Payments are due on scheduled income deposits. Loans are based on a 9-36 month term and loan amounts range from $50-$1500. Ask for details.

Pay Power Loan offers short term personal loans and is not a credit repair service. Pay Power Loan Services may help improve your credit score by building a credit history provided your payments are made in full and on-time.

Some restrictions and limitations may apply. Ask for details.

Payment includes loan protection insurance fees, but excludes applicable provincial taxes and prepaid card fees.

Amount does not include cost of insurance.

If you take out a $500 loan for a 2 week period and renew it 13 times over a 9 month period.

If you only pay the monthly minimum amount ($10 or 3% of balance, whichever is larger) with an annual interest rate of 19%. Source: Financial Consumer Agency of Canada (www.fcac-acfc.gc.ca)

If you take out a loan on a 5 year term with an annual interest rate of 8%. Source: TD Canada Trust Loan Payment Calculator (www.tdcanadatrust.com)

Effective April 2nd, 2014, Pay Power Loan and Pay Power Loan locations no longer support reloading of funds onto the Prepaid MasterCard via cash or debit. Reloading funds to your Prepaid MasterCard can still be done through online banking. For further inquiries, please email epic@Pay Power Loan.ca

Credit Score Impact

While having a loan and honouring its obligations can help build credit, too many loans may be seen by potential creditors as an increased risk, and failure to meet repayment obligations will result in a negative report to the credit bureaus, which would reduce your credit score. Please borrow responsibly.

Renewals

Loans from Pay Power Loan Services do not automatically renew. Customers have the option to request an increase to their loan after paying down a percentage of their current loan amount and maintaining good payment history. Such a request would be subject to the company's standard underwriting rules.

Financial Implications

Pay Power Loan Services offers personal loans from $50 to $1500 with terms from 9 to 36 months. The APR is 46.96%, and there are no additional fees for the loan. Pay Power Loan Services does not charge a late fee, but payments returned NSF (non-sufficient funds) will be assessed a $50 fee in addition to fees charged by the customer's financial institution.

Collections Practices

Pay Power Loan Services contacts customers in arrears as soon as possible. Pay Power Loan contacts customers in arrears through various means including, but not limited to telephone, email, postal mail, and SMS. Pay Power Loan Services may work with third parties to assist in collections activities.             

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APR : We know that fine print can be painful, but we believe it's important you have all Read More..