FAQs
Your loan’s initial and final payments cannot be deferred. Furthermore, if you miss a payment, you cannot defer the one that
comes next, and you cannot defer two payments in a row.
Your loan’s initial payment must be made on time. You will then be able to repay your loan in full or in part whenever you
like. We demand a minimum of 48 hours’ notice before stopping a regular payment. A surety fee must also be stopped with
7 days’ notice
Yes. One or more current phone numbers in your name that are shown on your application are required.
Unfortunately, we are not currently providing insurance on our loans. Having stated that, we are willing to evaluate our
agreements with you when the necessity arises if you experience difficult times.
It is, indeed! Once you have paid your initial loan with Mula Now, we will accept E.I. as proof of a legitimate source of income
for renewals. E.I. documentation will be required. For more information, get in touch with us online or by phone at
(866) 985-2568
Silver Top Management, a third-party business, handles all job verification.
They will just confirm the data you have previously provided.
Your data will be treated with the utmost confidentiality. We never disclose to the employer that you are requesting a loan.
The first time a payment is postponed, there will be a $25 cost. $50 will be charged for a second deferral ($25 fee plus $25
off your balance).
Once you’ve finished, our analysis department will check your application to make sure everything is in order and that it
complies with our lenders’ requirements.
The process can be finished in as little as one business day, although it usually goes much more quickly.
If you wish to delay your subsequent payment on a regular loan, we require 72 hours’ notice. We need seven days’ notice for
surety fees because they are collected by a third-party company.
Applying for a loan is a completely secure process. Your information will be kept private, that much is certain.
We do this to make sure that only you have access to your information
Your file is sent to the analytical department for review as soon as we have all the necessary information. Although the
process can take up to 24 business hours, it usually goes much more quickly.
You will be charged an NSF fee of $45.00 if you miss a payment. When making your surety payments, the NSF fee and any
missing surety fee installments will be added on. If you’ve fallen behind on a loan payment, the missed payment and the
NSF fee will be added on to the end of your loan payments. Your loan will be extended by two installments for each missing
payment you make, including the NSF cost. However, if you can make up the payment within 5 business days, you won’t be
charged an NSF fee.
If you miss a payment, we provide you a 5-day grace period. You won’t be charged an NSF fee if you can make that
payment within five business days.There are three ways to pay: 1. Payment using credit card. 2. Email-based money
transfers. 3. Auto-Withdrawal. You can email us or chat with us about Credit Card payments and automatic withdrawals
We are aware of your situation; just contact us via chat or email, and one of our employees will do all in their power to make
this loan more convenient for you.
We give you five business days of grace to make up a late payment. Both payments will be deducted from your account on
the day of your next payment if you are unable to make up the missed payment. Additionally, an NSF fee will be charged to
you on the subsequent payment date
On the day designated for your regular loan payment, the delay charge will be collected.
The loan agreement is a four-page document; the final two pages discuss surety fees. Please take note that as surety fees
are paid first, you may locate the date of your first payment on page one of the surety fee-contract. We strongly advise all of
our clients to carefully read and comprehend their entire contract.
A pay stub can be used to demonstrate that you have worked for a particular business, but it cannot demonstrate that you
are still employed by them or that you will do so in the future. All of these parts of your employment will be verbally verified
by one of our lenders.
An application can take up to 24 business hours to process after all the necessary elements have been provided and the file
has been sent to our analysis team. The analysis team will look into your application and make the required phone calls and
verifications. Most applications (98%) are completed and accepted within 24 hours of submission. However, depending on
the volume of applications and any difficulties encountered while making the verification phone calls, the procedure could
take up to 3 working days to complete.
An application can take up to 24 business hours to process after all the necessary components have been supplied and the
file has been sent to our analysis team. The analytical team will examine your application and make the required phone calls
and verifications. Most applications (98%) are completed and accepted within 24 hours of submission. However, depending
on the volume of applications and any difficulties encountered while making the verification phone calls, the procedure could
take up to 3 working days to complete
We are sadly not in charge of this policy, which is currently held by our lenders.
Am I qualified for a loan if I am self-employed?
Unfortunately, getting paid regularly by direct deposit is required to be eligible for a loan.
Will I get a confirmation if I repay my loan early?
Of course! We will always send you a confirmation email that includes the confirmation number for your payment
Your loan’s initial and final payments cannot be postponed, unfortunately.
Additionally, we are unable to postpone two payments in a row or your subsequent payment if you missed the prior one.
Never. We never see your user name or password, and we are never able to access your account. With the help of this
technology, you can send us a read-only copy of your bank statement in a secure and safe manner. To approve your application, we require this information. The most secure technology now on the market is this one.
No. We won’t see your login information or have access to your account at Mula Now. We receive a copy of your bank
statement from the system. To approve your application, we require this information. All of your information is secure
because of an embedded system with the best security and privacy available.
Your initial payment must be made by automatic withdrawal; however, subsequent payments may be made in advance.
No, we are unable to open links from cloud service providers like Dropbox, Google Drive, iCloud, etc. Digital images, screenshots, and scans of your documents are all acceptable alternatives.
Make sure your name is on your voicemail, that the name of any security contact you gave is likewise on their voicemail, and that you have given your employer permission for a job confirmation if you want your file evaluated as soon as possible. Usually, these three things are the ones that slow down the procedure.
Three alternatives are available for making an early payment:
Automatic withdrawal
Email money transfer
Payment using credit card
A $500 loan is available to new customers. You can apply for a larger loan if you’ve established a track record with one of
our lenders.
A voided check or a pre-authorized debit form are required in order to update your banking information in our records.
Simply send us a photo of either one or both of them to admin@mulanow.ca.
We verify potential clients’ employment through a verbal, confidential job confirmation. We make a quick phone call to your employer to verify that you are currently employed there, as well as the date you were hired and the anticipated length of your employment. You may rest certain that these conversations are fully private, and no member of our staff ever mentions to your employer that you’re looking for a loan.
Your user ID and password will be securely emailed to your banking institution so they can grant you access to a 90-day “read-only” copy of your bank statement and do identification verification. Our team of experts reviews the facts in the statement to promptly and properly decide how much you can borrow.
To be eligible for a loan, you must fulfill the following requirements:
A citizen of Canada
Be a grownup (18 years or older)
Have a monthly income of above $1200 that you get from your employer via check or direct deposit.
Have a stable job that they’ve been in for at least three months.
Possess a Canadian bank account that has been open for at least three months and is set up for direct deposit of your pay.
Not be about to file for bankruptcy or submit a consumer proposal
Have few or no transactions with insufficient funds
Have a low share of short-term debt (other active short term or loans)
We apologize that the following sources of income CANNOT be considered as legitimate sources of income:
Self-employment
Social services
Educational loan
CPP
Infant tax
Personal pensions
Disability compensation
Other insurance-related income
We respect your need for privacy, which is why our procedure is among the best currently available online. This system uses 128-bit encryption, the same as your bank, to maximize your privacy and security. Your username and/or password are always kept private and are never stored or displayed.
The fastest and safest way to share your information in order to apply for a loan is through this channel. It is also the most practical.
There are various ways we can assist if you are unable to work or have lost your employment.
To support your argument, you must provide supporting evidence. We are able to halt your payments for two to six weeks with the proper proof. Examples of paperwork include:
● a doctor’s note;
● an employment insurance claim;
● records from a detox center;
● a private insurance claim;
● a disability claim, etc.
You must get in touch with us via chat or email if you haven’t returned to work after six weeks so we can work out a solution.
We appreciate that you might prefer to use the more conventional approach of providing the necessary documents by fax or email, and we encourage you to call us. Please be aware that this Instant Verification offers improved speed, simplicity, privacy, and security, enabling you to receive a loan approval in just a few minutes.
We don’t recommend it. Any missed payment will result in a fine that is more than the fee for delaying your payment. Your credit score may suffer if you make several stop payments on a loan, which will make it harder for you to get approved for new loans.
With Mula Now, you can acquire quick loans without a credit check. We consider your future financial information rather than your credit history.
Apply with Mula Now and get approved right now!
Of course! Renewal customers at Mula Now have the option of receiving their cash by e-transfer upon request.
There is no restriction on this and it’s offered on weekends and holidays. Your e-transfer is sent minutes after your online request is authorized.
Our first focus is providing you with prompt and dependable service, thus as long as your application is approved by 14:00
EST, your money will be paid into your account that same day. If your application is accepted after 14:00 Eastern Standard Time, your funds will be deposited within a 24-hour window at most. You won’t have to wait any longer than what was previously indicated.
We provide you with some of the best prices in the business!
We take care to only work with reputable lending institutions who provide:
Annual interest rates of 22% (APR)
In the event of a default, interest rates on outstanding loans would be 2.66% each month or 22% annually.
NSF fees of $45
With a minimum 3-month repayment period, lower payments are required.
the choice to postpone payment in exchange for a $25 administrative fee
Brokerage fees applied to the loan
Our service is special because it includes fast verification and an e-signature without requiring you to submit any paper work.
You don’t have to go through the lengthy process of submitting papers in order to have your loan application accepted if you give us secured view-only access to your account.
We are given access to your bank account through an instant verification process that is quick and secure. Due to the fact that Instant Verification uses the same level of security as your bank, your personal information is kept safe and secure.
We never log in your account or access your ID or password information; all we ever get is a copy of your bank statement. By login into your account, you confirm your identity and give us permission to see your bank statement for 90 days in read-only mode. Private information you enter when logging into your financial institution is kept private.
We can immediately decide on your application thanks to IBV, allowing you to receive your funds conveniently and quickly. This is the procedure we advise because it enables us to provide a quick and secure approach for your loan to be approved, which is how we can best assist you.
Payday loans might be quick and simple, but they can have disadvantages.
Nevertheless, there are still quick and simple ways to borrow money.
Payday loans are more expensive than personal installment loans, which provide larger loans with longer repayment terms.
Mula Now provides quick and simple loans in Alberta & Ontario.
When you require a little amount of extra cash to cover unforeseen expenses, our quick and easy quick loan application process is available to you.
