Home › $500 Payday Loan
$500 is enough to cover a real shortfall — a partial rent payment, a larger repair, or a bill that can't wait — with the full cost disclosed upfront.
At $500, you're usually covering something specific and time-sensitive rather than a small day-to-day gap.
Make up the difference on rent so you can avoid a late fee.
Get your vehicle back on the road without missing work.
Cover a cost your insurance only partially covers.
Ontario and Saskatchewan cap payday loan fees at $14 per $100 borrowed. Here's the exact breakdown for a $500 loan over our representative term — the same representative-example format used across our site.
| Amount borrowed | $500 |
|---|---|
| Cost of borrowing | $70 |
| Total repayment | $570 |
| APR | On this 62-day loan, the APR is 82.42% (includes interest and all applicable fees). |
| Term | 62 days — your exact due date is set before you sign |
Loan repayment terms range from a minimum of 61 days to a maximum of 62 days. Your exact repayment amount and due date are disclosed in your loan agreement before you sign — never after.
To qualify for the full $500, you'll generally need at least $1,000 in net income per pay period, since your maximum loan amount is capped at 50% of your net pay. If your income is lower, you may still be approved for a smaller amount.
We're licensed to lend in these two provinces only.
Employment, Child Tax, ODSP, Ontario Works, or pension income with bank history.
For your e-transfer and to authorize repayment via EFT.
A past, discharged bankruptcy does not disqualify you.
The same simple process for every loan amount we offer.
Takes under 5 minutes, no faxing or paperwork.
We check your income and banking, not your credit score alone.
An approval email confirms your amount and terms.
Your money is e-transferred, often within ~20 minutes.
Yes — $500 is the example we use across our site to disclose costs clearly: $70 cost of borrowing, $570 total repayment.
Contact us before your due date if you'd like to discuss early repayment options.
Your approved amount depends on your income, banking history, and ability to repay — we'll confirm your exact amount before you sign anything.
It's free to apply and takes under 5 minutes. No obligation.
Start My Application →Cost of Borrowing
Loan repayment terms range from a minimum of 61 days to a maximum of 62 days.
Maximum allowable cost per $100 Borrowed $14.00 | Cost per $100 Borrowed $14
Representative Example: Borrow $500. The total cost of borrowing is $70. Total repayment: $570. On a loan of 62 days, the APR is 82.42%. This includes interest and all applicable fees.