GoDay 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 | GoDay | Spring Financial |
|---|---|---|
| Loan Amounts | $100 – $1,500 | $500 – $35,000 |
| Interest Rates | $15 per $100 borrowed (where applicable) | 9.99% – 34.95% APR |
| Loan Terms | Up to next payday | 6 – 84 months |
| Credit Required | No minimum credit score | All credit types accepted |
| Funding Speed | Same day (Interac e-Transfer) | As fast as 24 hours |
| Headquarters | Toronto, Ontario | Toronto, Ontario |
| Founded | 2012 | 2014 |
| Best For | Canadians who need a quick payday loan with a simple online process | Borrowers looking to build or rebuild credit |
Loan Amounts
GoDay
$100 – $1,500
Spring Financial
$500 – $35,000
Interest Rates
GoDay
$15 per $100 borrowed (where applicable)
Spring Financial
9.99% – 34.95% APR
Loan Terms
GoDay
Up to next payday
Spring Financial
6 – 84 months
Credit Required
GoDay
No minimum credit score
Spring Financial
All credit types accepted
Funding Speed
GoDay
Same day (Interac e-Transfer)
Spring Financial
As fast as 24 hours
Headquarters
GoDay
Toronto, Ontario
Spring Financial
Toronto, Ontario
Founded
GoDay
2012
Spring Financial
2014
Best For
GoDay
Canadians who need a quick payday loan with a simple online process
Spring Financial
Borrowers looking to build or rebuild credit
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
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 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 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 GoDay or Spring Financial 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. Spring Financial is rated 4.2/5 and is best for borrowers looking to build or rebuild credit.
Which has lower interest rates?
GoDay charges $15 per $100 borrowed (where applicable), while Spring Financial charges 9.99% – 34.95% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
GoDay: Same day (Interac e-Transfer). Spring Financial: As fast as 24 hours.
Other Lender Comparisons
Compare Both Lenders & More
Apply once through 365 Loans and receive offers from multiple Canadian lenders — no obligation, no impact on your credit score.
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