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Payday King Payday Loans Review
6 Sep 2018

Payday King Payday Loans

Just a little extra money in a month can sometimes go a long way. Payday King can loan you that money right when you need it at competitive rates, and the more you borrow from them, the more flexibility they’ll give you.

Get a short-term loan with service that will keep you coming back for more.

You are interested if

You need a micro-loan that you can get easily and want to work with a company that explicitly wants you to borrow from them again.


Key Points

Brief Description Payday King specializes in very small short-term loans that scale in size with their trust in each individual client.
Limits and Deadlines Loans of as little as $100 and as much as $1,000 are available; customers will be approved for specific amounts depending on criteria such as their employment stability and level of income. First-time customers should expect to be approved for no more than $150 initially regardless of their situation.
Urgency After the application process is completed, you can receive your money in under an hour in some cases. Repeat customers usually receive their money faster than first-time borrowers.
APR Range All loans are extended at a 546% APR, although because they are extremely short-term loans, the financial impact of this isn’t as bad as it sounds.
Closing/Origination Fees None.
Early Payment Fees None – the short loan period makes it hard for customers to beat their scheduled repayment date anyway.
How to Contract the Product Just fill out a quick online form and wait to hear back via email; it usually takes about an hour. Returning customers apply through a special simplified interface.
Main requirements To get a loan with Payday King, you must be 18+ years old, have a full-time job that you have been working at for at least 3 months and which pays you by direct deposit, make at least $700 a month before taxes, and have an active bank account.

About Payday King Payday Loans

Main Features

Payday King payday loans are meant to provide small injections of cash to people with an immediate need for it. There is absolutely no credit check involved, so applicants don’t need to worry about what impact a low credit score might have. Instead, your income and your borrower status with Payday King are the primary determinants of the amount you’ll be offered. Repayment installments are sent back to the company automatically as long as there is enough money in the borrower’s account.

Payday King takes care to welcome repeat borrowers by streamlining the application process with the information they already have on file, and generally also approves them for higher amounts than first-timers are able to get. This makes them a strong contender for anyone who anticipates needing more loans at some point in the future.

How Does It Work?

Payday King seeks to keep things simple during the application process; customers only need internet access and a connected device in order to fill out their online forms. After doing that, you’ll be told whether you’ve been approved or not within just one hour. If you have, two electronic signatures on forms sent to you by email are all that stands between you and your loan money. Those funds are typically sent out within a few hours of Payday King receiving the signed documents.

Afterwards, loans are automatically repaid via scheduled payments that the client agrees to as part of the lending process. If the client does not pay back their loan in full by the end of the 14-day period, they will be subject to a non-payment fee of $49.50 applied directly to their outstanding balance. This new, higher balance will then begin to accrue interest at a rate of 59% per year and the entire bill will likely be sent to a collections agency. This can obviously lead to significantly higher totals in very little time, so customers should take care to respect the repayment date that was outlined in the loan contract.


This lender likes to keep things smaller and simpler than many other companies of their type. They adhere very closely to the classic payday loan structure for their newest clients, only granting a little more leeway to those from whom they know what to expect. There’s less to read over and take in when dealing with this company, and their rates and terms are pretty much on par with what you’ll find in the industry in general (with the notable exception of the initial loan size restriction). They lack the extra necessary to cater to any specific market, but their offerings are serviceable for just about any very small-scale potential borrowing.

Payday King: Masters of the Short-Term Loan

Payday King refers to themselves as Canada’s premier short-term lender. The company is based in Halifax, Nova Scotia and has been in business for several years now. They pride themselves on their reliability and professionalism and consider themselves to be a responsible lender – they take your financial security seriously. To help their customers get the best possible experience with their lending, they operate a customer service line 6 days a week and can also be reached by email.

What We Think

Payday King is very good at what they do, but their services can be a little too limited for general use, especially for first-time customers. Their $150 limit is perhaps the most troublesome aspect of it, as that kind of money doesn’t go very far in today’s world. While situations which call for such a small amount of money do exist (it could pay for a small emergency grocery order, for instance), they are rarer than those that require a few hundred or more to solve.

If you’re only interested in borrowing small amounts but want to do so in a hurry, Payday King is a good lender option for you – doubly so if you’ll be doing it more than once. If you’re looking to borrow higher amounts, however, some other lender is likely to have a better solution for you.