Borrowell vs Fairstone Financial
A detailed side-by-side comparison of two popular Canadian lenders. See how they stack up on rates, loan amounts, eligibility, and overall experience.
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
Full Review →Side-by-Side Comparison
| Feature | Borrowell | Fairstone Financial |
|---|---|---|
| Loan Amounts | $1,000 – $35,000 | $500 – $60,000 |
| Interest Rates | 5.60% – 29.19% APR | 19.99% – 34.99% APR |
| Loan Terms | 12 – 60 months | 6 – 120 months |
| Credit Required | Fair to good credit (620+) | Fair to good credit preferred |
| Funding Speed | 1 – 3 business days | 1 – 3 business days |
| Headquarters | Toronto, Ontario | Montreal, Quebec |
| Founded | 2014 | 1923 |
| Best For | Borrowers with fair-to-good credit who want low rates and free credit monitoring | Homeowners who want larger secured loans with longer terms |
Loan Amounts
Borrowell
$1,000 – $35,000
Fairstone Financial
$500 – $60,000
Interest Rates
Borrowell
5.60% – 29.19% APR
Fairstone Financial
19.99% – 34.99% APR
Loan Terms
Borrowell
12 – 60 months
Fairstone Financial
6 – 120 months
Credit Required
Borrowell
Fair to good credit (620+)
Fairstone Financial
Fair to good credit preferred
Funding Speed
Borrowell
1 – 3 business days
Fairstone Financial
1 – 3 business days
Headquarters
Borrowell
Toronto, Ontario
Fairstone Financial
Montreal, Quebec
Founded
Borrowell
2014
Fairstone Financial
1923
Best For
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
Fairstone Financial
Homeowners who want larger secured loans with longer terms
Pros & Cons
Borrowell
Pros
- Free Equifax credit score for all users
- Among the lowest APRs for non-bank lenders (from 5.60%)
- AI-powered personalized financial product recommendations
- Over 2 million Canadian users — well-established platform
Cons
- Requires fair to good credit (620+ score recommended)
- Not ideal for borrowers with poor or no credit history
- Personal loans not available in all provinces
Fairstone Financial
Pros
- Over 100 years of lending experience in Canada
- Both unsecured and secured loan options
- Large loan amounts up to $60,000 for homeowners
- 200+ physical branch locations across Canada
Cons
- Minimum interest rate of 19.99% is higher than bank alternatives
- Secured loans require home equity as collateral
- Branch visit may be required to finalize some loans
Which Lender Should You Choose?
Choose Borrowell if you're looking for a lender that specializes in borrowers with fair-to-good credit who want low rates and free credit monitoring. They offer loan amounts of $1,000 – $35,000 with funding as fast as 1 – 3 business days.
Choose Fairstone Financial if you're better described as homeowners who want larger secured loans with longer terms. They offer $500 – $60,000 with fair to good credit preferred credit requirements.
Still unsure? Apply through 365 Loans to compare offers from both lenders and more — with no impact on your credit score.
Frequently Asked Questions
Is Borrowell or Fairstone Financial better?
It depends on your needs. Borrowell is rated 4.3/5 and is best for borrowers with fair-to-good credit who want low rates and free credit monitoring. Fairstone Financial is rated 4.0/5 and is best for homeowners who want larger secured loans with longer terms.
Which has lower interest rates?
Borrowell charges 5.60% – 29.19% APR, while Fairstone Financial charges 19.99% – 34.99% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
Borrowell: 1 – 3 business days. Fairstone Financial: 1 – 3 business days.
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Compare Loan OffersEditorial Note: Our content is reviewed by financial experts for accuracy. We may receive compensation from partner lenders, which does not influence our rankings or recommendations. Read our full disclosures