Payday loans

You must provide proof of incorporation or registration during the application process. To register your business, visit OneStop BC Business Registry. If you are located outside of BC, you need to register extra-provincially with Corporate Registry. If you are starting a new business, visit Small Business BC for helpful information for new business owners.

If your business is a partnership or proprietorship, you must provide:

• names of the partners or proprietors
• current copy of any trade name registration(s) under which you intend to operate

If your business is a corporation, you must provide

• names of directors, senior officers, and beneficial owners with voting shares
• current copy of any trade name registration(s) under which you intend to operate

If your head office is located outside of BC, you must provide a certificate of registration from your home jurisdiction showing your legal business name and any other names under which you intend to conduct business.  

As part of the licensing process, you must list all the web domains used to offer, arrange, advance or facilitate loan agreements online. 

You must provide a copy of your business licence issued by your local municipality.

Senior officers, partners or proprietors of your business must complete a criminal record check.

For Canadian residents, get your criminal record check through our third-party supplier. The results will be sent directly to us.

Get a criminal record check.

For non-Canadian residents, a criminal record check from your home jurisdiction is required.

You will need to submit the following documents:

• standard loan agreement. If you are located outside of British Columbia, you must include the address of your BC office in your loan agreements, for the purpose of service of documents, per the Payday Loans Regulation, section 12.
• sample loan agreement for $300 for 14 days, with all fees and charges
• rate structure for a payday loan, with interest and permissible charges
• cancellation notice form
• a form acknowledging the receipt of the loan cancellation
• sample debt collection notification and forms
• it’s important to review these documents to ensure your communication with borrowers is in compliance with the law

If your business has more than one location, each location requires its own licence. You must submit all supporting documents with your application. 

If you are operating from your home, a statutory declaration is required confirming that your residence is also a place of business.

Review the application checklist
Submit a licence application.
Submit an application for additional location
Submit a statutory declaration form.

All licence applications must include the required licensing fees and contribution(s) to the Consumer Financial Education Fund (CFEF).

Know your fees
Learn about the CFEF

It is your responsibility to review all applicable laws pertaining to your industry and to understand your obligations.

Review your obligations.