FAQ: E-Commerce Financing

We believe that everything we do
generates progress, confidence, and
relief for our customers.

FAQ: E-Commerce Financing

We believe that everything we do generates progress, confidence, and relief for our customers.

Who is Progressa and what do you do?

We are an alternative lender built to help Canadians find a better financial future, pay for their purchases, pay their bills and live their lives. We find ways to help when banks won’t, and we’re way cheaper than a payday loan.

What is a Powered by Progressa payment plan?

Our plans allow you to break down the cost of an expensive purchase into a series of affordable monthly instalments. This allows you to complete your purchase with confidence.

What is the difference between Progressa and a bank?

Progressa doesn’t just look at your credit score, but at the bigger picture, which includes your personal and financial history, to help get you the right loan at the right time.

What is the difference between PayBright and Progressa?

PayBright is a Canadian lender specializing in point-of-sale transactions and is live with over 3,500 merchants across the country. PayBright and Progressa have teamed up to provide Canadians with more options for financing their purchases online. Customers who qualify through PayBright’s application process may be offered loans from Progressa.

How much can I borrow?

We provide loans between $500 and $3,500.

How long can I borrow for?

Our flexible payment terms range from 6 to 18 months and are paid back in equal installments.

What are the interest rates on Progressa payment plans?

Interest rates vary depending on the plans offered by your merchant and your personal credit profile. Our goal is to provide financing options for as many applicants as possible – and always to provide an affordable monthly payment!

Some of our plans also include a small monthly processing fee. We don’t charge any other service fees, prepayment fees, or any other hidden fees. We seek to have the highest standards of transparency so that charges are always fully clear to our customers. The exact APR (Annual Percentage Rate) that applies to your transaction will be calculated and shown to you before you finalize your transaction.

Does Progressa check my credit?

Yes. When you apply, Progressa will conduct an instant credit check with a credit bureau in order to verify your identity and determine your eligibility for a payment plan.

Are there any restrictions on what Progressa will fund?

Progressa will fund any service or product that our approved merchant partners supply.

Can I prepay my outstanding balance?

Yes! Progressa payment plans are repayable in full or in part at any time, with no penalty.

If I have questions about my account, do I contact the merchant or Progressa?

Please contact Progressa directly, as your merchant does not have access to all the details of your account.

What if I want to return my purchase or get a refund?

You should contact your merchant directly to arrange returns or request refunds. Returns and refunds are subject to the return and refund policies of Progressa’s merchant partners. Progressa will process a refund to a customer if we are directed to do so by the merchant partner. Read more about our refund policy in our Terms & Conditions  here.

What do I need in order to apply?

Our minimum requirements are:

  • You must be a Canadian citizen,
  • At least 18 years old,

What Provinces/Territories do you serve?

We proudly serve Canadians in all provinces and territories with the exception of Quebec.

What if I filed Bankruptcy, Consumer Proposal, or Credit Counselling?

You cannot be in a current Bankruptcy, Consumer Proposal, or Credit Counselling process. If you have filed in the past and are discharged, your recent history is more heavily weighted, and you may still be eligible for a loan.

What if I’m a recipient of Employment Insurance, Disability Insurance, or other forms of financial assistance?

You can still apply.

How do I make payments?

We debit your bank account automatically, or as agreed up front with you during the application process.

What happens if I miss a payment?

Things happen. If you give us a call to notify us that you’ll be missing a payment, and make up the payment, we will waive your NSF fees. However, if we need to call you to request the payment, NSF fees will apply.

Where are you located?

We have offices in Vancouver and Toronto. We believe in cutting business costs to bring you the best possible rates. We build our business online and have our call centres available to you, so that having physical locations becomes a savings we can pass on to our customers.

Is my personal information secure with Progressa?

Yes, protecting your personal information is very important to us. We encrypt sensitive data. We also maintain physical, electronic, and other safeguards to protect your information. We do not sell your information to anyone. You can read our detailed Privacy Statement here.