Fairstone Financial vs GoDay
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 | Fairstone Financial | GoDay |
|---|---|---|
| Loan Amounts | $500 – $60,000 | $100 – $1,500 |
| Interest Rates | 19.99% – 34.99% APR | $15 per $100 borrowed (where applicable) |
| Loan Terms | 6 – 120 months | Up to next payday |
| Credit Required | Fair to good credit preferred | No minimum credit score |
| Funding Speed | 1 – 3 business days | Same day (Interac e-Transfer) |
| Headquarters | Montreal, Quebec | Toronto, Ontario |
| Founded | 1923 | 2012 |
| Best For | Homeowners who want larger secured loans with longer terms | Canadians who need a quick payday loan with a simple online process |
Loan Amounts
Fairstone Financial
$500 – $60,000
GoDay
$100 – $1,500
Interest Rates
Fairstone Financial
19.99% – 34.99% APR
GoDay
$15 per $100 borrowed (where applicable)
Loan Terms
Fairstone Financial
6 – 120 months
GoDay
Up to next payday
Credit Required
Fairstone Financial
Fair to good credit preferred
GoDay
No minimum credit score
Funding Speed
Fairstone Financial
1 – 3 business days
GoDay
Same day (Interac e-Transfer)
Headquarters
Fairstone Financial
Montreal, Quebec
GoDay
Toronto, Ontario
Founded
Fairstone Financial
1923
GoDay
2012
Best For
Fairstone Financial
Homeowners who want larger secured loans with longer terms
GoDay
Canadians who need a quick payday loan with a simple online process
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
GoDay
Pros
- No minimum credit score — uses proprietary GoDay Score
- Same-day funding via Interac e-Transfer
- Fully online process — no faxing or branch visits
- Licensed and regulated across multiple Canadian provinces
Cons
- Maximum loan amount of $1,500
- High cost of borrowing relative to personal loans
- Must be repaid by next payday
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 GoDay if you're better described as canadians who need a quick payday loan with a simple online process. They offer $100 – $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 Fairstone Financial or GoDay 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. GoDay is rated 3.5/5 and is best for canadians who need a quick payday loan with a simple online process.
Which has lower interest rates?
Fairstone Financial charges 19.99% – 34.99% APR, while GoDay charges $15 per $100 borrowed (where applicable). Your actual rate depends on your credit profile.
Which lender funds faster?
Fairstone Financial: 1 – 3 business days. GoDay: Same day (Interac e-Transfer).
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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