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Manitoba Resident Agreement
Payday loans are high cost loans.
In Manitoba, the maximum allowable charge for a payday loan is 17% of the principal amount of the loan.
Sample $300 loan for 12 days
Total cost of credit = $51.00
The Annual Percentage Rate (APR) 517.1%.
The total that must be repaid is $351.00
This information meets the requirements of The Consumer Protection Act.
License # 39197
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