LendDirect 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 | LendDirect | Borrowell |
|---|---|---|
| Loan Amounts | $200 – $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 or installments up to 62 days | 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 | Victoria, British Columbia | Toronto, Ontario |
| Founded | 2013 | 2014 |
| Best For | Emergency borrowers who need fast access to small amounts before payday | Borrowers with fair-to-good credit who want low rates and free credit monitoring |
Loan Amounts
LendDirect
$200 – $1,500
Borrowell
$1,000 – $35,000
Interest Rates
LendDirect
$15 per $100 borrowed (where applicable)
Borrowell
5.60% – 29.19% APR
Loan Terms
LendDirect
Up to next payday or installments up to 62 days
Borrowell
12 – 60 months
Credit Required
LendDirect
No minimum credit score
Borrowell
Fair to good credit (620+)
Funding Speed
LendDirect
Same day (Interac e-Transfer)
Borrowell
1 – 3 business days
Headquarters
LendDirect
Victoria, British Columbia
Borrowell
Toronto, Ontario
Founded
LendDirect
2013
Borrowell
2014
Best For
LendDirect
Emergency borrowers who need fast access to small amounts before payday
Borrowell
Borrowers with fair-to-good credit who want low rates and free credit monitoring
Pros & Cons
LendDirect
Pros
- No minimum credit score required
- Same-day funding via Interac e-Transfer
- Simple online application — no paperwork required
- Licensed and regulated in multiple provinces
Cons
- Maximum loan amount of $1,500
- High cost of borrowing compared to personal loans
- Short repayment period (up to 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 LendDirect if you're looking for a lender that specializes in emergency borrowers who need fast access to small amounts before payday. They offer loan amounts of $200 – $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 LendDirect or Borrowell better?
It depends on your needs. LendDirect is rated 3.4/5 and is best for emergency borrowers who need fast access to small amounts before payday. 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?
LendDirect 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?
LendDirect: Same day (Interac e-Transfer). Borrowell: 1 – 3 business days.
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