A quick payday loan means:
- any development of cash with a principal of $1,500 or less and a term of 62 days or less produced in exchange for a cheque that is post-dated a pre-authorized debit or the next re re payment of an equivalent nature, however for almost any guarantee, suretyship, overdraft security or protection on property and never through a margin loan, pawnbrokering, a personal credit line or credit cards.
There is certainly a 1 or 2-year licensing cost, payable to your federal Government of Alberta.
- For one-year licences – a licensing cost of $1,000 for a licence plus the very first location plus $500 for every single extra location specified in the application
- For 2-year licences – a licensing cost of $2,000 for a licence as well as the location that is first $1,000 for every single extra location specified in the application