Make an application for a Payday Lender Allow. Payday loan providers need the license to complete company in Nova Scotia. a payday lender is somebody who provides, organizes or provides loans under $1,500 with a phrase of 62 times or less to customers in Nova Scotia.

For legal reasons, payday loan providers will need to have a Payday Lender allow to supply, organize or offer pay day loans to customers in Nova Scotia. Your facility will be examined before you obtain the license.

A quick payday loan includes any loan of $1,500 or less, designed for a term of 62 times or less, in return for a postdated cheque, pre-authorized debit or comparable future payment. (more…)