How to Apply for a Payday Lender Licence in Saskatchewan
Operating a payday lender business in Saskatchewan is a privilege that comes with a number of responsibilities. As a payday lender carrying on business in Saskatchewan, you are required to comply with The Payday Loans Act, and The Payday Loans Regulations.
Our Licensing Kit contains direction on how to apply for a licence to carry on business as a payday lender in Saskatchewan.
Your Payday Lender Licence is a very important part of operating your business. Please take sufficient time to complete your application accurately and completely, and submit it well in advance of the date you intend to start carrying on business in Saskatchewan.
In order to have your application processed in a timely manner, please be sure that the application form is completely filled out and all requested supporting documentation is attached. Be sure to enclose a cheque payable to the Minister of Finance for the $2,000.00 annual fee, per licensed location. Incomplete applications and applications without an accompanying payment will not be processed.
If you have questions about completing your application, please call our office at 306-787-6700 and we will be happy to assist you.
Annual Licence Renewal
Your payday lender licence is issued for a twelve month period, expiring one year from the date of issue. Please ensure you submit your renewal application and accompanying payment before your licence expires.
Please use the form for renewal of payday lender licences only if you have an unexpired payday lending licence. Lenders will need to complete one Renewal Application form as well as a Renewal Application Location Addendum for each licensed location for which a renewal is requested.
Lenders who have let their licence expire are requested to use the full licence application kit.
Payday lender licences are issued for a specific location. If a previously licensed lender is adding a location in the province and will be using the same policies, processes and forms as another licensed location, the lender may use the Additional Location Application forms.