Most lenders will require some proof of income during the loan approval process. Lenders want to be sure you’ll be able to make the monthly payments on the loan.
There are a few different ways to provide proof of income, such as pay stubs, tax returns, or bank statements. If you’re self-employed or have a fluctuating income, you may need to provide additional documentation, such as a profit and loss statement.
When it comes to applying for personal loans, including payday loans in Canada, the specific requirements will vary from lender to lender and province to province, so be sure to check all the terms before applying.