Extra licence needs for payday loan providers

Extra licence needs for payday loan providers

Payday loan provider businesses must show an indicator money that is regarding support and financial obligation counselling, visible during the premises entryway.

Payday loan providers must adhere to the Provincial Fair Trading Act.


In the event your company provides pawnbroker solutions, it should be positioned at the least 400 metres from any current pawnbroker. It should additionally meet up with the after guidelines of a pawnbroker licence.

A pawnbroker mustn’t:

  • Keep on the business enterprise of the second-hand dealer on exactly the same premises.
  • Aquire individual property through any supply apart from as a protection for pledge or pawn to resale later on.
  • Aquire property that is personal a pledge or pawn at an area apart from the pawnbroker’s premises. Continue reading “Extra licence needs for payday loan providers”