What Do You Need to Qualify For a Cash Advance?

When money’s tight and rent is overdue, you can’t always afford to wait until the end of the week for your paycheck to arrive. For many, trying to obtain a personal loan in Montreal is crucial for avoiding severe financial consequences. However, not everyone who needs a payday loan or cash advance knows what is needed to qualify for a loan. Though you won’t need to undergo a credit check to qualify for these short-term loans, you will still need to provide key information to the lender before you get your cash.


Valid Checking Account

These days, most cash advance lenders don’t actually hand you cash over a counter. Instead, the money is provided via direct deposit, and is sent directly to your checking account. As such, it shouldn’t come as much of a surprise that you need to provide the lender with information for a valid checking account!


Generally speaking, lenders will want to see a copy of your bank statements over the most recent 90-day period. You will also need to provide a voided check or pre-authorized debit form. Not only does this prove that you can receive a check or direct deposit, it also helps indicate your ability to pay back your loan.


Proof of Employment

You need a job to generate income — and to pay off your cash advance. Lenders want to see that you have a steady, full-time job. Typically, you’ll only be able to qualify for a loan if you’ve held the same job for six months or longer. As proof of employment, most lenders will ask for copies of your two most recent pay stubs. This helps them determine the size of the loan you can qualify for and proves that you don’t have any garnishes against your pay.


Steady Address

Similar to the requirement of having a full-time job, lenders need proof that you’ve lived at the same address for the last six months. They want to see that you are normally relatively stable financially, even though you currently need a loan. A copy of a recent utility bill is one of the easiest ways to provide this proof of residency.



By providing this basic information to a cash advance lender, you can receive the money you need within 24 hours — and often on the same day that you submit your application. As you take advantage of this resource to address unexpected emergencies, you’ll be able to avoid overdraft charges, late fee penalties, and other unwanted financial problems.

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