Instant loan / Micro-loan

Highly popular on the radio and the web, and also known as micro-loans, quick loans, instant loans, or payday loans, these types of loans fall under the category of “no-credit-check loans.” They typically offer within 24 hours small amounts, ranging from $750 to $1500, but come with very high interest rates.

They usually need to be repaid over a short period, typically between 4 and 6 months, with interest rates that may seem low but whose fees (often $350 or more) significantly increase the cost of borrowing.

We invite you to review the factors for identifying a quick loan and the risks associated with it.