Fairstone Financial vs Borrowell
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 | Fairstone Financial | Borrowell |
|---|---|---|
| Loan Amounts | $500 – $60,000 | $1,000 – $35,000 |
| Interest Rates | 19.99% – 34.99% APR | 5.60% – 29.19% APR |
| Loan Terms | 6 – 120 months | 12 – 60 months |
| Credit Required | Fair to good credit preferred | Fair to good credit (620+) |
| Funding Speed | 1 – 3 business days | 1 – 3 business days |
| Headquarters | Montreal, Quebec | Toronto, Ontario |
| Founded | 1923 | 2014 |
| Best For | Homeowners who want larger secured loans with longer terms | Borrowers with fair-to-good credit who want low rates and free credit monitoring |
Loan Amounts
Fairstone Financial
$500 – $60,000
Borrowell
$1,000 – $35,000
Interest Rates
Fairstone Financial
19.99% – 34.99% APR
Borrowell
5.60% – 29.19% APR
Loan Terms
Fairstone Financial
6 – 120 months
Borrowell
12 – 60 months
Credit Required
Fairstone Financial
Fair to good credit preferred
Borrowell
Fair to good credit (620+)
Funding Speed
Fairstone Financial
1 – 3 business days
Borrowell
1 – 3 business days
Headquarters
Fairstone Financial
Montreal, Quebec
Borrowell
Toronto, Ontario
Founded
Fairstone Financial
1923
Borrowell
2014
Best For
Fairstone Financial
Homeowners who want larger secured loans with longer terms
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
Pros & Cons
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
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
Which Lender Should You Choose?
Choose Fairstone Financial if you're looking for a lender that specializes in homeowners who want larger secured loans with longer terms. They offer loan amounts of $500 – $60,000 with funding as fast as 1 – 3 business days.
Choose Borrowell if you're better described as borrowers with fair-to-good credit who want low rates and free credit monitoring. They offer $1,000 – $35,000 with fair to good credit (620+) 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 Fairstone Financial or Borrowell better?
It depends on your needs. Fairstone Financial is rated 4.0/5 and is best for homeowners who want larger secured loans with longer terms. Borrowell is rated 4.3/5 and is best for borrowers with fair-to-good credit who want low rates and free credit monitoring.
Which has lower interest rates?
Fairstone Financial charges 19.99% – 34.99% APR, while Borrowell charges 5.60% – 29.19% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
Fairstone Financial: 1 – 3 business days. Borrowell: 1 – 3 business days.
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