LendDirect 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 | LendDirect | LoanConnect |
|---|---|---|
| Loan Amounts | $200 – $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 or installments up to 62 days | 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 | Victoria, British Columbia | Toronto, Ontario |
| Founded | 2013 | 2014 |
| Best For | Emergency borrowers who need fast access to small amounts before payday | Borrowers who want to compare multiple offers at once |
Loan Amounts
LendDirect
$200 – $1,500
LoanConnect
$500 – $50,000
Interest Rates
LendDirect
$15 per $100 borrowed (where applicable)
LoanConnect
6.99% – 29.99% APR (varies by partner lender)
Loan Terms
LendDirect
Up to next payday or installments up to 62 days
LoanConnect
6 – 60 months
Credit Required
LendDirect
No minimum credit score
LoanConnect
All credit types accepted
Funding Speed
LendDirect
Same day (Interac e-Transfer)
LoanConnect
As fast as same day
Headquarters
LendDirect
Victoria, British Columbia
LoanConnect
Toronto, Ontario
Founded
LendDirect
2013
LoanConnect
2014
Best For
LendDirect
Emergency borrowers who need fast access to small amounts before payday
LoanConnect
Borrowers who want to compare multiple offers at once
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)
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 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 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 LendDirect or LoanConnect 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. LoanConnect is rated 4.1/5 and is best for borrowers who want to compare multiple offers at once.
Which has lower interest rates?
LendDirect 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?
LendDirect: 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