FCAA is SaskatchewanвЂ™s economic and customer market regulator.
Credit Rating Division
Running a lender that is payday in Saskatchewan is just a privilege that is included with a quantity of obligations. Being a payday loan provider carrying on business in Saskatchewan, you have to comply with The Payday Loans Act, additionally the Payday Loans Regulations.
The licensing toolkit contains direction about how to submit an application for a licence to continue company as a lender that is payday Saskatchewan. Please relate to the Registration and Licensing System (RLS) information for guidelines about how to complete an on-line application.
Your payday lender licence is an extremely crucial element of running your online business. Please simply take sufficient time for you to finish the application accurately and totally, and submit it well prior to the date you want to start holding on business in Saskatchewan.
So that you can have the job prepared in a manner that is timely be sure to make sure that the internet application is entirely done and all required supporting paperwork is connected. Make sure to submit a cheque payable into the Minister of Finance for the $3,000.00 yearly cost, per certified location. Incomplete applications and applications lacking any accompanying payment will never be prepared.
When you yourself have questions about doing the job, please contact us and we will work with you.
Annual Licence Renewal
Your payday loan provider licence is given for the twelve month duration, expiring a year through the date of problem. Please guarantee you submit your web renewal application and payment that is accompanying your licence expires. Please relate to the Registration and Licensing System (RLS) information for guidelines on the best way to finish an online renewal application.
The license application in RLS is partioned into “legal entity” abd “physical location: components. A licence is actually for every single location that is physical and every licence expires a year from the date of problem. Each lender will need to update the legal entity information as part of the renewal process, once a year.
In cases where a licensed payday lender with one or more location desires to use for another phyiscal location licence, it might do this without the need to re-submit most of the entity information that is legal. Nonetheless, the appropriate entity information needs to be updated yearly, properly, some applicants might find that the timing of submissions is in a way that the appropriate entity info is required.
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