Podestic Lending review

Is Podestic Lending legitimate?

We can’t say this lender is legitimate for several reasons. As of August 2024, our research into Podestic Lending turned up the following concerns:

• Not a licensed payday lender in Canada. We couldn’t find any Canadian payday lending licence numbers listed on the Podestic Lending website. Payday lenders need to have a licence to issue loans in your province or territory.
• Not a registered business in Canada. A search of Canada’s Business Registries failed to turn up any results for Podestic Lending.
• Payday loans in California. Despite listing an office address in Winnipeg, several sections of the Podestic Lending website mention providing payday loans in southern California. The website states that Podestic Lending is licensed by the California Department of Financial Protection and Innovation under the Deferred Deposit Transaction Law. When applying for a loan, you can’t select anywhere other than California from the dropdown menu. On the Store Locations page of the Podestic website, the map lists southern California locations for “Cashback Loans.”
• No phone contact details. There are no phone contact details listed on the Podestic Lending website.
• Broken links. Several links on the Podestic Lending website either don’t work or lead to pages that don’t exist. In particular, we were unable to find a working link that allowed us to view the lender’s terms and conditions.
• No customer reviews. We were unable to find any customer reviews for Podestic Lending.
• Low score on ScamAdviser. ScamAdviser gives podesticlending.com a low TrustScore of 38/100. The score is calculated using an algorithm that takes into account over 40 data points.

Alternatives to Podestic Lending

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Product CAFSL	Loan Amount	Loan Term	APR	Speed	Serviced Provinces	Offer	Table description
GoDay Payday Loan	$100 - $1,500	Up to 62 days	Varies by province	As little as 2 minutes with Interac e-Transfer	AB, BC, MB, NB, NS, ON, PEI, SK		To apply, you'll need to be a Canadian resident over the age of 18 with a valid email address, phone number and an open bank account with a Canadian bank or credit union.	Go to siteMore Info Compare	loading Fetching your data...
iCash Payday Loan	$100 - $1,500	7 - 62 days	Varies by province	As little as 2 minutes with Interac e-Transfer	AB, BC, MB, NB, NS, ON, PEI	24/7 instant approval and e-Transfer funding.	Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. Income of at least $800/month required.	Go to siteMore Info Compare	loading Fetching your data...
Wagepay Wage Advance Loan	$100 - $1,500	Up to 62 days	Varies by province	As little as 2 minutes with Interac e-Transfer	BC, ON	Lower and transparent fees. No late or NSF fees.	Get early access to a portion of your pay. Sign up in less than 3 minutes and receive funds via e-Transfer 24/7.	Go to siteMore Info Compare	loading Fetching your data...
Money Mart Payday Loan	$120 - $1,500	1 - 62 days	Varies by province	As little as 1 hour after getting approved	AB, BC, MB, NS, NT, ON, SK, YT		To be eligible, you’ll need to be at least 18 years of age with a steady source of income and a chequing account. No credit check required.	More Info Compare	loading Fetching your data...
Cash Money Payday Loan	$100 - $1,500	5 - 40 days	Varies by province	As little as 15 minutes with INTERAC e-Transfer	BC, MB, NL, NS, ON, SK		Instant decision and e-Transfer funding. Income of at least $1,000/month required.	More Info Compare	loading Fetching your data...

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Features of Podestic Lending

Podestic Lending claims to offer the following features for borrowers:

• Apply online or in-person. You can apply for a payday loan online or in-person at a store location.
• Loans available seven days a week. Podestic Lending says you can apply and get funded seven days a week.
• Fast access to funds. If approved, you can have funds deposited into your bank account instantly.
• Bad credit is OK. Podestic Lending says it doesn’t need to check your credit history as part of the application and approval process. Learn about the best bad credit loans.

What to watch out for

• High cost of borrowing. Payday loans have extremely high APRs and are a very expensive way to borrow money. Be sure to consider all other alternatives before applying for a payday loan.
• Short repayment terms. The short repayment period of a payday loan makes it difficult to repay on time, which in turn puts you at risk of getting trapped in a cycle of debt.
• Not a licensed payday lender. As far as we can tell, Podestic Lending is not licensed to provide payday loans in Canada. If you’re considering applying for a payday loan, make sure you only deal with legitimate payday lenders.

How much will it cost me to borrow from Podestic Lending?

The cost of a payday loan varies depending on provincial regulations. Depending on where you live, a payday lender can charge you a maximum of $14 to $17 for every $100 borrowed. Check out our guide on payday loan regulations in Canada for more information.

What do Podestic Lending reviews say?

We were unable to find any customer reviews for Podestic Lending online.

What is the Podestic Lending application process like?

You can apply for a Podestic Lending loan online by completing the following steps:

1. Visit the Podestic Lending website and select Apply online.
2. Enter your name, date of birth, address and contact information.
3. Enter your employment and income details as well as your Social Insurance Number.
4. Enter your housing status and monthly rent or mortgage payment amount.
5. Specify your desired loan amount and the purpose of the loan.
6. Submit your application.

Bottom line

There are several factors that cause us to question the legitimacy of Podestic Lending—most importantly, the fact that we couldn’t find any Canadian payday lending licence details for this provider. If you’re sure a payday loan is right for you, consider applying elsewhere.