ALBERTA PAYDAY LOAN COST
The Maximum charges permitted by the Alberta Government for a payday loan are $15 per $100 lent.
Cash Connection Ltd. charges $15 per $100 lent.
For a $300 loan for 15 days the cost of borrowing is $45.00.
Payday loans are a form of high cost credit.
The Annual Percentage rate for a $300 loan for 15 days is 364.9%
This information meets the requirements of the Payday Loans Regulation under the Fair Trading Act
Payday Loans Business Licence # 326979
An annual percentage rate (APR) is the annual rate charged for borrowing, and is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan.