easyfinancial vs Spring 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.
Side-by-Side Comparison
| Feature | easyfinancial | Spring Financial |
|---|---|---|
| Loan Amounts | $500 – $150,000 | $500 – $35,000 |
| Interest Rates | 9.99% – 34.95% APR | 9.99% – 34.95% APR |
| Loan Terms | 9 – 240 months | 6 – 84 months |
| Credit Required | All credit types accepted | All credit types accepted |
| Funding Speed | Same day to 2 business days | As fast as 24 hours |
| Headquarters | Mississauga, Ontario | Toronto, Ontario |
| Founded | 2006 | 2014 |
| Best For | Borrowers with poor credit who need larger loan amounts | Borrowers looking to build or rebuild credit |
Loan Amounts
easyfinancial
$500 – $150,000
Spring Financial
$500 – $35,000
Interest Rates
easyfinancial
9.99% – 34.95% APR
Spring Financial
9.99% – 34.95% APR
Loan Terms
easyfinancial
9 – 240 months
Spring Financial
6 – 84 months
Credit Required
easyfinancial
All credit types accepted
Spring Financial
All credit types accepted
Funding Speed
easyfinancial
Same day to 2 business days
Spring Financial
As fast as 24 hours
Headquarters
easyfinancial
Mississauga, Ontario
Spring Financial
Toronto, Ontario
Founded
easyfinancial
2006
Spring Financial
2014
Best For
easyfinancial
Borrowers with poor credit who need larger loan amounts
Spring Financial
Borrowers looking to build or rebuild credit
Pros & Cons
easyfinancial
Pros
- Accepts all credit types including poor credit
- Very large loan amounts available (up to $150,000 secured)
- Over 400 locations across Canada for in-person service
- Reports to both Equifax and TransUnion for credit building
Cons
- Interest rates can be high for unsecured loans
- Secured loans require collateral (home equity or vehicle)
- Some products have origination or administrative fees
Spring Financial
Pros
- Accepts all credit types, including bad credit
- Credit-building program (The Foundation) reports to both major bureaus
- Fast online application with decisions in minutes
- No branch visit required — fully online process
Cons
- Maximum APR of 34.95% for higher-risk borrowers
- Not available for Quebec residents on some products
- Personal loans require minimum income verification
Which Lender Should You Choose?
Choose easyfinancial if you're looking for a lender that specializes in borrowers with poor credit who need larger loan amounts. They offer loan amounts of $500 – $150,000 with funding as fast as same day to 2 business days.
Choose Spring Financial if you're better described as borrowers looking to build or rebuild credit. They offer $500 – $35,000 with all credit types accepted 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 easyfinancial or Spring Financial better?
It depends on your needs. easyfinancial is rated 3.8/5 and is best for borrowers with poor credit who need larger loan amounts. Spring Financial is rated 4.2/5 and is best for borrowers looking to build or rebuild credit.
Which has lower interest rates?
easyfinancial charges 9.99% – 34.95% APR, while Spring Financial charges 9.99% – 34.95% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
easyfinancial: Same day to 2 business days. Spring Financial: As fast as 24 hours.
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