Repayment terms
Your exact repayment term, due dates and payment amounts are shown in your loan agreement before you sign.
Payday Hero offers an online application for short-term personal loans. Each application is reviewed, approval is not guaranteed, and processing times vary.
Funds are sent by Interac e-transfer once approved and the agreement is accepted. Transfer timing depends on the review, business hours and your bank. Review the complete cost and repayment schedule before signing.
Select your required amount. Amounts approved are between $100 and $1500 each.
The information you submit is used to verify and review your application. Whether or not an application is approved, personal information is handled and retained as described in our Privacy Policy, including applicable legal and regulatory requirements.
Our goal is to respond to you within 24 hours on weekdays and within 48 hours on weekends.
ONLINE APPLICATION
Review Your Offer
Understand Every Payment
Review the repayment schedule and complete cost of any offer before you apply.
Apply online and review your complete loan offer before deciding whether to accept it.
Payday Hero offers short-term personal instalment loans from $300 to $1,500. Applications are subject to review, and submitting an application does not guarantee approval or a particular loan amount.
Review every disclosure carefully and do not accept a loan unless its payments fit your budget.
The amount offered depends on your eligibility and application review.
Approved funds are delivered by Interac e-Transfer after the required agreement and verification steps. Timing varies.
Online applications are accepted at any time. Review and funding times vary.
Every application is reviewed. Approval and the requested loan amount are not guaranteed.
Your agreement shows the exact term, payment dates and payment amounts before you sign.
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Understand your personal instalment loan terms, costs and repayment schedule.
Your exact repayment term, due dates and payment amounts are shown in your loan agreement before you sign.
Review the APR, interest, all mandatory fees, total cost of borrowing and total amount repayable before accepting an offer.
Compare the complete repayment schedule and cost disclosure with your budget. Applying does not require you to accept an offer.
ODSP income generally counts when we assess your application. Read this page carefully before you apply.
Important: If you receive ODSP, please read the "Borrow Responsibly" section below before applying. ODSP income is fixed and protected — taking on a short-term loan you can't comfortably repay can put your essentials at risk.
Yes — Ontario Disability Support Program (ODSP) payments are recognized as a regular source of income by Payday Hero. So are other government benefits including the Canada Pension Plan – Disability (CPP-D), Old Age Security (OAS), Employment Insurance (EI), and Child Tax Benefit.
What we assess is whether your monthly income — whatever its source — leaves room to comfortably repay a short-term loan after your essentials are covered.
For ODSP recipients, we look at:
Our credit decision is not based on score alone. Borrowers with limited or weak credit history regularly qualify on the strength of stable ODSP income and a reasonable budget picture.
We typically approve smaller amounts for ODSP recipients than for full-time wage earners — that's because the loan needs to fit comfortably inside a fixed monthly budget. Most ODSP-only borrowers qualify for $300–$500 on a first application.
Larger amounts can become available later if you've successfully repaid an earlier loan and your income has remained stable.
A short-term loan is meant for a one-time, time-bound expense — a car repair, a missed utility payment, an emergency vet bill. It is not a tool for covering a recurring monthly shortfall.
If you receive ODSP and you find that your monthly income consistently doesn't cover essentials, please look at these resources before taking on a loan:
Borrowing makes sense when there's a real, time-bound expense and you have a clear plan to repay. Borrowing to cover this month's groceries because rent went up is a sign that the budget itself needs help — and that help often exists at no cost through the resources above.
Yes. ODSP counts as a regular income source. Approval depends on whether the loan amount fits comfortably inside your monthly budget after essentials are covered.
A short-term loan is not income for ODSP purposes — it's a debt that must be repaid. ODSP doesn't claw back loan proceeds. However, if you don't repay and the lender writes off the debt, that may be reportable in some provincial programs. Always read the rules and check with your caseworker if uncertain.
After an approved applicant accepts the agreement, funds are sent by Interac e-Transfer. Review and delivery times vary based on business hours and bank processing.
Most declines on ODSP applications are because the requested loan amount is too high relative to monthly budget headroom. Try a smaller amount, or use one of the free resources above to address the underlying budget gap.
The APR, interest, mandatory fees, payment schedule, total cost of borrowing and total amount repayable are itemized in the loan agreement before you sign.
Testimonials
I just wanted to say that I'm very happy with borrowing from Payday Hero. They're easy to work with and are flexible with their payment terms.
An online loan can be applied for through the internet without visiting a branch. The application is reviewed against eligibility and underwriting criteria, and approval is not guaranteed.
Complete the application online and provide the information needed for review. If approved and you accept the agreement, funds are sent by Interac e-Transfer. Review and transfer times vary, and approval is not guaranteed.
Our online loans offer more flexibility and better terms compared to payday loans. Instead of high fees and short repayment periods, we provide longer, more manageable repayment options tailored to your needs.
Eligibility is based primarily on your income, bank history, and age (you must be at least 18 years old). A soft or hard credit check may be performed as part of underwriting; it will be disclosed before you sign.
Your exact APR, all mandatory fees, and total cost of credit are itemized in your loan agreement before you sign. We disclose this in accordance with the federal Cost of Borrowing (Banks) Regulations and applicable provincial consumer credit law.
If you use online banking, no extra documents are needed. Otherwise, you’ll need to submit a pay stub, void cheque, recent bank statements, and a government-issued ID.
No, we are completely transparent about all fees. You'll know all the costs upfront, including any interest and brokerage fees, before you agree to anything.
Yes! You can repay the loan early without any penalties. In fact, we offer fee discounts for early repayment to help lower the total cost of borrowing.
After an approved applicant accepts the loan agreement, funds are sent by Interac e-Transfer. Delivery depends on review completion, business hours and the receiving bank, so no specific funding time is guaranteed.
Applying is simple. Just fill out the application form on our website, and we'll guide you through the process from start to finish.
ODSP, CPP-D, OAS, and other government benefits are recognized as regular income for application purposes. We're a private lender — we are not affiliated with the Government of Ontario or the Ministry of Children, Community and Social Services. Your full APR, total cost of credit, and repayment schedule are disclosed before you sign.
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