GoDay 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 | GoDay | Borrowell |
|---|---|---|
| Loan Amounts | $100 – $1,500 | $1,000 – $35,000 |
| Interest Rates | $15 per $100 borrowed (where applicable) | 5.60% – 29.19% APR |
| Loan Terms | Up to next payday | 12 – 60 months |
| Credit Required | No minimum credit score | Fair to good credit (620+) |
| Funding Speed | Same day (Interac e-Transfer) | 1 – 3 business days |
| Headquarters | Toronto, Ontario | Toronto, Ontario |
| Founded | 2012 | 2014 |
| Best For | Canadians who need a quick payday loan with a simple online process | Borrowers with fair-to-good credit who want low rates and free credit monitoring |
Loan Amounts
GoDay
$100 – $1,500
Borrowell
$1,000 – $35,000
Interest Rates
GoDay
$15 per $100 borrowed (where applicable)
Borrowell
5.60% – 29.19% APR
Loan Terms
GoDay
Up to next payday
Borrowell
12 – 60 months
Credit Required
GoDay
No minimum credit score
Borrowell
Fair to good credit (620+)
Funding Speed
GoDay
Same day (Interac e-Transfer)
Borrowell
1 – 3 business days
Headquarters
GoDay
Toronto, Ontario
Borrowell
Toronto, Ontario
Founded
GoDay
2012
Borrowell
2014
Best For
GoDay
Canadians who need a quick payday loan with a simple online process
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
Pros & Cons
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
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 GoDay if you're looking for a lender that specializes in canadians who need a quick payday loan with a simple online process. They offer loan amounts of $100 – $1,500 with funding as fast as same day (interac e-transfer).
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 GoDay or Borrowell better?
It depends on your needs. GoDay is rated 3.5/5 and is best for canadians who need a quick payday loan with a simple online process. 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?
GoDay charges $15 per $100 borrowed (where applicable), while Borrowell charges 5.60% – 29.19% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
GoDay: Same day (Interac e-Transfer). Borrowell: 1 – 3 business days.
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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