Borrowell vs LendDirect
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 | LendDirect |
|---|---|---|
| Loan Amounts | $1,000 – $35,000 | $200 – $1,500 |
| Interest Rates | 5.60% – 29.19% APR | $15 per $100 borrowed (where applicable) |
| Loan Terms | 12 – 60 months | Up to next payday or installments up to 62 days |
| Credit Required | Fair to good credit (620+) | No minimum credit score |
| Funding Speed | 1 – 3 business days | Same day (Interac e-Transfer) |
| Headquarters | Toronto, Ontario | Victoria, British Columbia |
| Founded | 2014 | 2013 |
| Best For | Borrowers with fair-to-good credit who want low rates and free credit monitoring | Emergency borrowers who need fast access to small amounts before payday |
Loan Amounts
Borrowell
$1,000 – $35,000
LendDirect
$200 – $1,500
Interest Rates
Borrowell
5.60% – 29.19% APR
LendDirect
$15 per $100 borrowed (where applicable)
Loan Terms
Borrowell
12 – 60 months
LendDirect
Up to next payday or installments up to 62 days
Credit Required
Borrowell
Fair to good credit (620+)
LendDirect
No minimum credit score
Funding Speed
Borrowell
1 – 3 business days
LendDirect
Same day (Interac e-Transfer)
Headquarters
Borrowell
Toronto, Ontario
LendDirect
Victoria, British Columbia
Founded
Borrowell
2014
LendDirect
2013
Best For
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
LendDirect
Emergency borrowers who need fast access to small amounts before payday
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
LendDirect
Pros
- No minimum credit score required
- Same-day funding via Interac e-Transfer
- Simple online application — no paperwork required
- Licensed and regulated in multiple provinces
Cons
- Maximum loan amount of $1,500
- High cost of borrowing compared to personal loans
- Short repayment period (up to next payday)
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 LendDirect if you're better described as emergency borrowers who need fast access to small amounts before payday. They offer $200 – $1,500 with no minimum credit score 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 LendDirect 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. LendDirect is rated 3.4/5 and is best for emergency borrowers who need fast access to small amounts before payday.
Which has lower interest rates?
Borrowell charges 5.60% – 29.19% APR, while LendDirect charges $15 per $100 borrowed (where applicable). Your actual rate depends on your credit profile.
Which lender funds faster?
Borrowell: 1 – 3 business days. LendDirect: Same day (Interac e-Transfer).
Other Lender Comparisons
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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