GoDay vs LoanConnect
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 | GoDay | LoanConnect |
|---|---|---|
| Loan Amounts | $100 – $1,500 | $500 – $50,000 |
| Interest Rates | $15 per $100 borrowed (where applicable) | 6.99% – 29.99% APR (varies by partner lender) |
| Loan Terms | Up to next payday | 6 – 60 months |
| Credit Required | No minimum credit score | All credit types accepted |
| Funding Speed | Same day (Interac e-Transfer) | As fast as same day |
| Headquarters | Toronto, Ontario | Toronto, Ontario |
| Founded | 2012 | 2014 |
| Best For | Canadians who need a quick payday loan with a simple online process | Borrowers who want to compare multiple offers at once |
Loan Amounts
GoDay
$100 – $1,500
LoanConnect
$500 – $50,000
Interest Rates
GoDay
$15 per $100 borrowed (where applicable)
LoanConnect
6.99% – 29.99% APR (varies by partner lender)
Loan Terms
GoDay
Up to next payday
LoanConnect
6 – 60 months
Credit Required
GoDay
No minimum credit score
LoanConnect
All credit types accepted
Funding Speed
GoDay
Same day (Interac e-Transfer)
LoanConnect
As fast as same day
Headquarters
GoDay
Toronto, Ontario
LoanConnect
Toronto, Ontario
Founded
GoDay
2012
LoanConnect
2014
Best For
GoDay
Canadians who need a quick payday loan with a simple online process
LoanConnect
Borrowers who want to compare multiple offers at once
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
LoanConnect
Pros
- Compare multiple lender offers with one application
- Soft credit check for initial comparison — no impact on score
- Wide range of loan amounts from $500 to $50,000
- Fully online process with no branch visits required
Cons
- Rates vary significantly depending on which partner lender you're matched with
- Not a direct lender — acts as a marketplace/aggregator
- Loan terms and conditions vary by individual lender
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 LoanConnect if you're better described as borrowers who want to compare multiple offers at once. They offer $500 – $50,000 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 GoDay or LoanConnect 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. LoanConnect is rated 4.1/5 and is best for borrowers who want to compare multiple offers at once.
Which has lower interest rates?
GoDay charges $15 per $100 borrowed (where applicable), while LoanConnect charges 6.99% – 29.99% APR (varies by partner lender). Your actual rate depends on your credit profile.
Which lender funds faster?
GoDay: Same day (Interac e-Transfer). LoanConnect: As fast as same day.
Other Lender Comparisons
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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