Payday loan establishments

Consultation has concluded

Businesses known as “Payday Loan” establishments offer cash advances in exchange for a post-dated cheque, a pre-authorized debit or promise of future payment. They are not regulated in the same manner as credit cards or lines of credit, and typically have much higher interest rates – capped in Ontario at 546 per cent annually.

The City of Kitchener is evaluating the appropriate mix of these establishments in the community, and we would like to know what you think.

Many customers report that they turn to these establishments when declined by other financial institutions and have no other alternative in the case of a personal or family emergency.

We want to know what you think!

Businesses known as “Payday Loan” establishments offer cash advances in exchange for a post-dated cheque, a pre-authorized debit or promise of future payment. They are not regulated in the same manner as credit cards or lines of credit, and typically have much higher interest rates – capped in Ontario at 546 per cent annually.

The City of Kitchener is evaluating the appropriate mix of these establishments in the community, and we would like to know what you think.

Many customers report that they turn to these establishments when declined by other financial institutions and have no other alternative in the case of a personal or family emergency.

We want to know what you think!

Consultation has concluded
  • Update

    18 days ago

    We used your feedback to inform a staff report that went to the Finance and Corporate Services Committee on June 10, 2019 and was officially supported by Council on June 24. We have committed to working with Payday Loan Establishments to get them licensed early 2020.

    If you have any follow-up question, please connect with Helen Fylactou, Manager of Licensing. Phone: 519-741-2200 ex. 7854. Email: Helen.Fylactou@kitchener.ca

    Thank you for being part of Engage Kitchener and providing us with your input. We look forward to seeing your input on future projects.




    We used your feedback to inform a staff report that went to the Finance and Corporate Services Committee on June 10, 2019 and was officially supported by Council on June 24. We have committed to working with Payday Loan Establishments to get them licensed early 2020.

    If you have any follow-up question, please connect with Helen Fylactou, Manager of Licensing. Phone: 519-741-2200 ex. 7854. Email: Helen.Fylactou@kitchener.ca

    Thank you for being part of Engage Kitchener and providing us with your input. We look forward to seeing your input on future projects.