Hamilton has about 569,000 residents (2021 Census). The city still has steelmaking along the bay, alongside large employers in health care and education. Hamilton residents apply online with Ontario-licensed lenders and receive funds by Interac e-Transfer.
A Hamilton exampleMark works at a plant on the bayfront and is paid weekly, $780 take-home. His furnace igniter fails in November. Ontario’s rule caps his loan at $390, so he borrows $350 and pays at most $49. With weekly pay, the loan is due in seven days, so he checks his next cheque can absorb $399.
Hamilton borrowers are covered by Ontario’s payday loan rules: at most $14 per $100, half your net pay, and two business days to cancel.
Hamilton-specific things to know
- Weekly pay means short loans. If you are paid weekly, your loan is due in about a week. That makes the APR look higher and leaves less time to recover.
- Temporary layoffs. If you are on a temporary layoff, apply for Employment Insurance right away. A payday loan to cover the EI waiting period can be hard to repay.
Free help in Hamilton before you borrow
Ontario Works
Delivered by the City of Hamilton, which can also help with emergency costs.
Electricity bills
Alectra Utilities customers in Hamilton can apply for LEAP emergency help, and all Ontario households can apply for the OESP monthly credit.
211
Food banks, rent help and other Hamilton services, by phone, text or 211ontario.ca.
Neighbourhoods we serve in Hamilton
- Downtown Hamilton
- Hamilton Mountain
- Stoney Creek
- Ancaster
- Dundas
- Waterdown
- Binbrook
- Westdale
- Crown Point
- Gibson
- Kirkendall
- Glanbrook
Nearby: Mississauga, Kitchener, London