Are you borrowing money from a financing company or a pawnbroker? These businesses must hold a money lender’s permit from the Office de la protection du consommateur in order to conduct their operations.

There are 2 situations where this permit is not required:

  • the loan is for a mortgage; or
  • the loan was contracted to pay an insurance premium.

Among other institutions, banks and financial services cooperatives, such as credit unions, trust companies or savings companies, are not required to hold this permit.

If a contract for the loan of money you are offered has an annual credit rate of more than 22%, the lender may also be required to hold a permit of a merchant who enters into a high-cost credit contract.

How to find out whether a lender holds a permit

You can use the Get information about a merchant tool to find out whether a money lender holds the required permit(s).

If the lender does not hold the required permit(s), avoid doing business with that merchant and contact the Office de la protection du consommateur to file a complaint.

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Last update : May 3, 2021

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The information contained on this page is presented in simple terms to make it easier to understand. It does not replace the texts of the laws and regulations.