Same Day Cash
In many cases, if a loan request is placed before 2PM PST, you will receive your cash the same day.
Safe & Confidential
Our security standards are the same as the bank.
90-120 Day Repayment
Repay your loan in 90-120 days.
Bad Credit Accepted
A Bad Credit Score is not a deciding factor in our lending process.
Missed Payments and Your Credit
Ensuring sufficient funds in your bank account on the scheduled loan repayment date is crucial. If a payment is declined by your bank or you lack the required funds, a $40 penalty will be applied and deferred to the end of your loan term. Rest assured, missed payments will not impact your credit score with Grassroots Cash, and we will not report your account to credit bureaus. If you anticipate needing to postpone a payment, please contact us at least 48 hours in advance to avoid the $40 fee.
Annual Percentage Rate (APR)
Grassroots Cash is a Credit Brokerage that partners with loan providers offering a consistent APR of 26%. This rate is capped and will never exceed 26%.
Fair and Responsible Collection Practices
Grassroots Cash adheres strictly to Canadian legal standards for loan collection. Should you encounter challenges during repayment, our dedicated collection team will work with you to create a manageable payment plan tailored to your circumstances. Missed payments may accrue interest on the outstanding balance, and borrowers are responsible for any legal fees incurred in recovering overdue amounts.
Loan Renewal Policy
Loan renewals are not automatic at Grassroots Cash. If you wish to renew your loan, you must actively request it, as renewals are not processed by default.
Thoughtful Loan Approval Process
At Grassroots Cash, we carefully evaluate all online loan applications to ensure borrowers can comfortably repay their loans. Our thorough review process includes:
• Confirming that your income aligns with our eligibility requirements;
• Checking for excessive insufficient funds charges in your bank account;
• Assessing whether existing financial commitments could hinder your ability to repay the loan.
If your application meets our criteria, Grassroots Lending will approve your loan request.
Repayment Example
For a $500 loan, repayments are scheduled every two weeks, with 6 payments of $125.11, totaling $750.66.
This total includes a $225 surety fee added to the principal amount. The surety fee is determined at the discretion of the surety and is separate from the interest charged by the lender.