PAYDAY LOAN AGREEMENT & DISCLOSURE STATEMENT 0003205818
Payday Loan Agreement & Disclosure Statement
PAYDAY LOAN AGREEMENT DATED : 2025-06-07 Contract#: 0003205818
Customer#: 1558425
BETWEEN: Finabanx Ltd. Licence # : 4733142 AND: ashley pang
Lender: Operating as iCash 726 Hurondale Dr
372 Bertha Street, suite 102 Mississauga, Ontario
Hawkesbury, Ontario L5C 4N7, Canada
K6A 2A8 (1) 647-968-8031
support@icash.ca
(1) 844-419-2274
Fax: 1-855-630-9915
Details of Payday Loan Agreement
Amount Borrowed $150.00
Term of the Agreement in Days 62
Total Cost of Borrowing $21.00
Maximum Allowable Cost per $100 Borrowed $14.00
Cost per $100 Borrowed $14.00
Equivalent Annual percentage rate 104.07%
This loan is your third or subsequent one in 63 days and
yes
qualifies for an extended payment plan
Payment 1: Amount and Due Date 2025-07-09 / $85.5
Payment 2: Amount and Due Date 2025-08-08 / $85.5
Payment 3: Amount and Due Date (if applicable) 0
Default Interest Rate 2.5% per month
Borrower's Signature
To Receive Your Funds, You Must Electronically Sign the Agreement in the Space Indicated Below
MAXIMUM Amount of loan
Based on the information you provided to us, your net pay is $1360.94. The maximum amount we can lend you is $680.00, which is 50
per cent of your net pay.
Dates of previous loans
You previously entered into payday loans on 2025-04-25, 2025-05-08.
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PAYDAY LOAN AGREEMENT & DISCLOSURE STATEMENT 0003205818
Agreement
This Agreement contains important terms and conditions affecting Your loan. Read it carefully before you sign it.
Definitions. Certain words used in this Agreement have defined meanings. The word "Agreement" means this Payday Loan Agreement
and Disclosure Statement. The words "You", "Your" or "Borrower" mean and refer to the person executing this Agreement. The words
"Us" or "We" mean and refer to Finabanx Ltd. The word "Loan" means the payday loan transaction governed by this Agreement. Each
capitalized term set out above under the section entitled "Details of Payday Loan Agreement" is also a defined term for the purposes of
this Agreement. The word "Account" means any bank account to which the Borrower's name is attached. Other terms may be defined in
the text of this Agreement.
Acknowledgements. You acknowledge that You have reviewed the terms of this Agreement including without limitation (i) the amount of
the Total Cost of Borrowing; and (ii) the date or dates upon which the Loan is due. You also represent that You are applying for the Loan
in and from the Province of Ontario.
Electronic Execution. In order to complete the Loan transaction with Us, You must electronically sign this Agreement by affixing Your
signature in the provided space below and clicking at the indicated place on the screen to submit this Agreement to Us. You understand
that the sole action of clicking "I agree" at the end of Your loan agreement will also be considered as acceptance of and agreement to
the terms of the loan agreement.
Approval Process. We will review Your electronically executed application for the Loan Application process is complex and does not
guarantee Approval. We may refuse Your application for any reason whatsoever in our sole and unfettered discretion after reviewing it. If
the Loan is approved, this Agreement will become binding as of the date of deposit of the Principal Amount of the Loan into the bank
account that You have provided Us with ("Your Account") in the Pre-Authorized Debit Form (PAD), or as of the time that You have
deposited the Principal Amount of the Loan You received by Interac e-Transfer, or at such time as the Principal Amount of the Loan is
applied towards any outstanding indebtedness to Us (the "Effective Date").
Employment information. You assure Us that the information provided in Your loan application in regards to Your Employer is valid and
accurate and You affirm that You are not in the process of being laid-off nor You are about to lose Your job.
Promise to Pay. You promise to pay Us or our assignees the Total Amount Due on the Due Date or Dates set out above (collectively the
"Payment Due Date"). You undertake to have sufficient funds in Your Account on the Payment Due Date(s) to repay the Total Amount
Due under this Loan Agreement. You authorize Us to initiate pre-authorized debit(s) from Your Account until such time as We have been
paid in full (the "PAD Authorization") and You waive the standard 10 days pre-notification period.
Pre-Authorized Debit (PAD). Pursuant to the PAD Authorization, You direct Us to initiate a PAD from Your Account for the Total Amount
Due on the Payment Due Date(s) or thereafter. You promise that You will not close Your Account or place a stop payment on the PAD
Authorization. You agree to maintain sufficient funds in Your bank account to cover each payment on Your payment due date(s) under
this Loan Agreement. You understand that PADs are initiated 3 business days prior to the Payment Due Date(s) and that any
modifications You wish to make to Your payment plan have to be done prior to this period to be effective. You understand that once the
PAD is initiated, We cannot cancel it.
Reception of funds. If You request to receive Your funds by Interac e-Transfer, the e-Transfer will be sent to the email address used to
create Your account with Us. You acknowledge that Your email address: i) is a correct and operational email address and; ii) is eligible to
receive e-Transfers. iCash is not responsible to verify the accuracy of the information it receives and may rely solely on the information
You provided, even if it identifies a person different from the intended recipient. If Your email is setup for auto-deposits, You also confirm
that You are able to access the bank account where the funds will be auto-deposited. If for any reason You are unable to receive the e-
Transfer to the email address provided or You fail to accept the funds in a timely manner, the funds will be re-sent by direct deposit to
your bank account. iCash will not be liable or held responsible for failure to complete an Interac e-Transfer or misdirected e-Transfer, or
for any delays in the reception of Your funds.
Prepayment. You may prepay the full outstanding balance of the Loan or make partial prepayments without charge or penalty before
the Payment Due Date(s), or where more than one, each Payment Due Date, by notifying Us at least 3 business days prior to a
Payment Due Date. Any partial payment You make will be applied first to The Total Cost of Borrowing and then to the Outstanding
Principal Amount of the Loan. You may only make payments by pre-authorized debit or by Interac e-Transfer to payment@icash.ca. If
you are planning to do an e-Transfer prepayment, it is your responsibility to validate with us before sending any payment to avoid
duplicate payment. If you send us a payment by e-Transfer and the Pre-Authorized Debit is already initiated, You will need to wait 4
business days after the Payment Due Date to recover the overpaid balance.
Limitation. You may only have one outstanding loan with Us at any point in time. We reserve the right to deny any loan application
made while another loan is outstanding.
No Renewals. You may not renew this Loan. You may not pay the Loan with the proceeds of another Payday Loan from Us.
No Security Interest. No security interest is given or taken in connection with this transaction except for any security in connection with
the PAD Authorization which may arise at law.
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PAYDAY LOAN AGREEMENT & DISCLOSURE STATEMENT 0003205818
Default, Insufficient Funds, Late Fees. Your account will be considered delinquent immediately upon a payment lapse or default and
the Total Amount Due, according to this Agreement, will be payable in full immediately. In the event of a payment default, You will be
charged a non-sufficient funds fee in the amount of $20.00 and You will be charged late interest at the rate of 2.5% per month (30%
annually) on the principal Loan Amount Due until We have been fully repaid.
If We cannot recover the outstanding Loan Amount Due according to this Agreement, You will be charged the legal cost that We have
incurred in collecting or attempting to collect the outstanding amount under this Agreement and/or You will be charged any fees that We
have incurred because of a cheque or any other instrument of payment You provide Us that has been dishonored. In the event You
breach any of the terms of this Agreement or fail to pay any amounts due and owing thereunder, iCash reserves its right to forward Your
account to an external collection agency at any time, without limitation to any of its other rights and recourses. The collection agency will
inform appropriate credit bureaus and this might affect Your credit score.
Consent to Collection Calls. You agree that if Your Account is past due or in default of repayment of the Total Amount Due, You will
accept calls from Us or a third party We have contracted with regarding the collection of Your Account with Us. You understand these
calls could be automatically dialed and a recorded message may be played and You consent to contact in this manner. You
acknowledge and agree that We may monitor and record telephone calls for the purpose of security and training. You acknowledge and
agree that We may assign Your indebtedness to a third party including a collection agency.
Cancellation Rights. To cancel Your Loan, You must complete and deliver the notice of cancellation, available on Your member account
at http://www.icash.ca to Us by email at cancellation@icash.ca before the end of the Cancellation Period. In the event that You cancel
Your Loan Agreement and the funds have already been sent to You, You authorize us to immediately initiate a pre-authorized debit to
Your bank account in order to retrieve the amount borrowed under this Agreement. If there are Insufficient Funds in Your account at that
moment to cover the payment due, You will be charged a non-sufficient funds fee of $20.00, Your Loan will remain active, and the
amount of Your initial Agreement will be due, including Your initial Cost of Borrowing. Upon cancellation and repayment of the Principal
Amount of the Loan, We will provide You with a confirmation receipt via email.
Bankruptcy, Debt Consolidation, Consumer Proposal. You represent that You are not currently a debtor in any bankruptcy, debt
consolidation, consumer proposal proceeding, or pending proceeding, and that You are in no way bound under any form of agreement
or arrangement by or to a legal trustee or representative with any claim against Your assets and You have no intention of filing for
bankruptcy, debt consolidation, consumer proposal, or for similar creditor protection under any applicable legislation at this moment, in
the upcoming days and during the term of this transaction.
Personal Information. You authorize Us to use the personal information You have provided to Us for the purposes of verifying Your
identity, making a determination on granting credit to You, and collecting any amounts owing by You to Us. You authorize us to make
enquiries and obtain information regarding Your credit history including conducting credit bureau searches and reviewing Your current
and historical bank account information for the purpose of making a determination on granting credit to You. You authorize us to monitor
and record telephone conversations with You for the purpose of security and training.
Cookies. We use cookies to record information of visitors and provide them with information we think might be of interest to them
regarding our products and services. You may set up Your computer to reject cookies.
Creditor Packages. All creditor packages and correspondence for the purpose of any bankruptcy, consumer proposal, debt
consolidation or any other similar insolvency proceedings should be sent to 372 Bertha Street, suite 102, Hawkesbury, ON, K6A
2A8, or by email to collection@finabanx.com, or by Fax to 1-855-630-9915.
Third party repayments. Please note, that iCash reserves the right to accept or refuse any payments coming from a third party on
Your behalf. The initial payment method agreed on in this Agreement will always prevail. If said payment arrives after Your
payment(s) due date(s), iCash reserves the right to charge additional late fees.
Balance and reimbursement. Any balance that We may owe to You from time to time that is under one dollar ($1) will be forgiven and
shall not be payable. Should that happen, the balance shall be deemed to be zero ($0).
Privacy Policy. We respect the privacy of our customers and are committed to treating customer information responsibly. Our complete
privacy policy statement is available on our website http://www.icash.ca. Our privacy policy may be revised from time to time and will be
effective from the date such changes are posted on our website.
Governing Law. This Agreement shall be governed by the laws of the Province of Ontario and the parties submit to the jurisdiction of
the Courts of Ontario.
All Finabanx Ltd. loans are "remote payday loan agreements" for the purposes of the Act and accompanying regulations.*
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PAYDAY LOAN AGREEMENT & DISCLOSURE STATEMENT 0003205818
ATTENTION
This payday loan is intended to address short-term financial needs. The cost of borrowing for this loan may be significantly higher than
credit offered by other lenders.
YOUR CANCELLATION RIGHTS UNDER THE PAYDAY LOANS ACT, 2008
If you are provided with the loan and a copy of this agreement that complies with the Act when you enter into the agreement, you may
cancel the agreement within two (2) business days of entering into it. For remote payday loan agreements*, you may cancel the
agreement within two (2) business days of entering into it if you are provided with the loan within one hour of entering into the agreement
and you are provided with a copy of this agreement that complies with the Act when you enter into the agreement. You do not have to
give a reason for cancelling the agreement.
If you are not provided with the loan or with a copy of this agreement that complies with the Act when you enter into the agreement, you
may cancel the agreement at any time. For remote payday loan agreements, you may cancel the agreement at any time if you are not
provided with the loan within one hour of entering into the agreement or if you are not provided with a copy of this agreement that
complies with the Act when you enter into the agreement. You do not have to give a reason for cancelling the agreement.
To cancel the agreement, you must provide your notice of cancellation, together with the amount you borrowed, to the business you
dealt with to get your loan. If you have made any payments under the loan, the lender must return those payments to you at the earliest
reasonable opportunity.
* A remote payday loan agreement is one in which the borrower is not present with the lender or the loan broker when the payday loan
agreement is made (e.g. a loan made over the internet or by phone).
Notwithstanding any language in the payday loan agreement, you may make partial prepayments at any time and if you are in an
extended payment plan the lender must adjust your future scheduled repayments so that your future repayments are spread equally
over the remaining term of the extended payment plan, unless you request otherwise when making the prepayment.
You may terminate the extended payment plan at any time by paying the amount owing in full without any additional charge, fee or
penalty.
REFUNDS UNDER THE PAYDAY LOANS ACT, 2008
Under certain circumstances, you may demand a refund of a payment you made under a payday loan agreement within one year of
having made that payment. Either the licensee has received a payment to which it is not entitled or the licensee has engaged in
prohibited conduct of such a serious nature that you are entitled to a refund of the cost of borrowing that you paid. To obtain a refund you
must give a notice demanding it to the business that you dealt with to get your payday loan. Your notice must set out your demand for
the refund and the reason for it, as well as your name and telephone number. Note that the business has two (2) business days within
which to provide the refund to you. You may choose to collect your refund in person or have it mailed to you.
Please contact the Consumer Protection Branch of the Ministry of Government and Consumer Services for more information on when
you may be entitled to a refund and how to make your demand for a refund. You may contact the Consumer Protection Branch toll-free
at 1-800-889-9768.
Contacting the Registrar
Further information regarding your rights and the Act are available on the website of the Ministry of Government and Consumer Services
(www.ontario.ca/consumerprotection) or by contacting the Registrar, Payday Loans Act, 2008 at the toll-free number 1-
800-889-9768, by fax at 416-326-8665, by e-mail at consumer@ontario.ca or by mail at 56 Wellesley Street West, 16th floor, Toronto,
Ontario, M7A 1C1.
You are entitled to receive a copy of your loan agreement upon request at any time within one year of the end of the term of your loan
agreement.
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PAYDAY LOAN AGREEMENT & DISCLOSURE STATEMENT 0003205818
ACKNOWLEDGEMENT OF BORROWER
Electronic Signature: By electronically signing below, You understand and agree to all of the terms and conditions of this Agreement;
and by submitting the online information application by Internet, You certify that the information provided by You is true and accurate and
that the documents that You have submitted are authentic and have not been altered in any way. You authorize Us to verify the accuracy
of the information you have provided by contacting any company or person listed on the application to verify such information. You
authorize Us to obtain information on You from a credit reporting agency or other various means available. You understand that We
reserve the right to decline an applicant at any time. In order to process this application, You understand verification of the information
You have provided is necessary, including, but not limited to, employment and bank account verification. You accept personal
responsibility for safeguarding any Login and Password information that might be assigned to You in respect of the Loan. By
electronically signing this Agreement, and submitting this document electronically to Us, You acknowledge that You completed all
information requested by Us prior to electronically signing below and submitting this form to Us; and that You have reviewed the entire
document, as well as the Terms of Use and Privacy Policy contained on our website. You agree to be bound by the Terms of Use and
Privacy Policy as part of this Agreement.
NOTICE TO CONSUMER:
DO NOT EXECUTE THIS AGREEMENT BEFORE READING IT.
YOU ARE ENTITLED TO A COPY OF THIS AGREEMENT.
YOU MAY PREPAY THE UNPAID BALANCE AT ANY TIME WITHOUT PENALTY.
PLEASE NOTE YOU SHOULD PRINT AND RETAIN A COPY OF THIS LOAN AGREEMENT FOR YOUR RECORDS.
For any comments or questions please contact us by email at support@icash.ca
IP address : 66.207.204.194
Signed on June 7th, 2025,
ashley , pang Finabanx operating as iCash
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