Fairstone Financial 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 | Fairstone Financial | Spring Financial |
|---|---|---|
| Loan Amounts | $500 – $60,000 | $500 – $35,000 |
| Interest Rates | 19.99% – 34.99% APR | 9.99% – 34.95% APR |
| Loan Terms | 6 – 120 months | 6 – 84 months |
| Credit Required | Fair to good credit preferred | All credit types accepted |
| Funding Speed | 1 – 3 business days | As fast as 24 hours |
| Headquarters | Montreal, Quebec | Toronto, Ontario |
| Founded | 1923 | 2014 |
| Best For | Homeowners who want larger secured loans with longer terms | Borrowers looking to build or rebuild credit |
Loan Amounts
Fairstone Financial
$500 – $60,000
Spring Financial
$500 – $35,000
Interest Rates
Fairstone Financial
19.99% – 34.99% APR
Spring Financial
9.99% – 34.95% APR
Loan Terms
Fairstone Financial
6 – 120 months
Spring Financial
6 – 84 months
Credit Required
Fairstone Financial
Fair to good credit preferred
Spring Financial
All credit types accepted
Funding Speed
Fairstone Financial
1 – 3 business days
Spring Financial
As fast as 24 hours
Headquarters
Fairstone Financial
Montreal, Quebec
Spring Financial
Toronto, Ontario
Founded
Fairstone Financial
1923
Spring Financial
2014
Best For
Fairstone Financial
Homeowners who want larger secured loans with longer terms
Spring Financial
Borrowers looking to build or rebuild credit
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
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 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 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 Fairstone Financial or Spring Financial 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. Spring Financial is rated 4.2/5 and is best for borrowers looking to build or rebuild credit.
Which has lower interest rates?
Fairstone Financial charges 19.99% – 34.99% APR, while Spring Financial charges 9.99% – 34.95% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
Fairstone Financial: 1 – 3 business days. Spring Financial: As fast as 24 hours.
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