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


APR EXPLANATION


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.