Markham has about 339,000 residents (2021 Census) and is one of York Region’s major tech and business centres. Housing costs are high, which can leave little slack in a monthly budget. Markham residents apply online with Ontario-licensed lenders and receive funds by Interac e-Transfer.
A Markham exampleKevin has a line of credit with room on it, but needs $600 for a tooth repair. At a typical line-of-credit rate, two weeks of interest on $600 is a few dollars. A payday loan would cost up to $84. He uses the line of credit. A payday loan only makes sense if you don’t have a cheaper option.
Markham borrowers are covered by Ontario’s payday loan rules: at most $14 per $100, half your net pay, and two business days to cancel.
Markham-specific things to know
- Check your existing credit first. Many Markham households have a line of credit or card with room. Two weeks on either usually costs far less than a payday loan.
- York Region programs. Social assistance and many support programs here are run by York Region.
Free help in Markham before you borrow
Ontario Works
Delivered by York Region for Markham, Vaughan and Richmond Hill residents.
Electricity bills
Alectra Utilities customers: ask about LEAP emergency help. The OESP credit is open to every Ontario household.
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Food banks, rent help and other York Region services, by phone, text or 211ontario.ca.
Neighbourhoods we serve in Markham
- Unionville
- Markham Village
- Cornell
- Milliken
- Berczy Village
- Angus Glen
- Cathedraltown
- Wismer
- Box Grove
- Armadale
- Greensborough
- Cachet