Cambridge has about 138,000 residents (2021 Census) in the communities of Galt, Preston and Hespeler, which merged in 1973. Manufacturing, including a large auto assembly plant, is a major employer. Cambridge residents apply online with Ontario-licensed lenders and receive funds by e-Transfer.
A Cambridge exampleJordan has taken two payday loans from the same lender in six weeks, and now needs a third, for $600. Because it’s his third loan with that lender within 63 days, Ontario requires an extended payment plan. Paid every two weeks, he repays the $684 total over at least three paydays, with no single payment above 35%, or $239.40. He can pay it off early at any time with no penalty.
Cambridge borrowers are covered by Ontario’s payday loan rules: at most $14 per $100, half your net pay, and two business days to cancel.
Cambridge-specific things to know
- Ask for the plan by name. The extended payment plan must be offered on your third loan with a lender within 63 days, but it helps to ask for it.
- Use the breathing room. Instalments give you time to fix what caused the repeat borrowing. A free credit counsellor can help you plan so a fourth loan isn’t needed.
Free help in Cambridge before you borrow
Ontario Works
Delivered by the Region of Waterloo for Kitchener, Waterloo and Cambridge residents.
Electricity bills
Energy+ customers: ask about LEAP emergency help. The OESP credit is open to every Ontario household.
211
Food banks, rent help and other Waterloo Region services, by phone, text or 211ontario.ca.
Neighbourhoods we serve in Cambridge
- Galt
- Preston
- Hespeler
- Blair
- East Galt
- West Galt
- Fiddlesticks
- Silver Heights
- Saginaw
- Christopher-Champlain
- Southwood