LendDirect vs Mogo
A detailed side-by-side comparison of two popular Canadian lenders. See how they stack up on rates, loan amounts, eligibility, and overall experience.
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Full Review →Side-by-Side Comparison
| Feature | LendDirect | Mogo |
|---|---|---|
| Loan Amounts | $200 – $1,500 | Up to $5,000 (MogoMini line of credit) |
| Interest Rates | $15 per $100 borrowed (where applicable) | Up to 34.37% APR |
| Loan Terms | Up to next payday or installments up to 62 days | Revolving (line of credit) |
| Credit Required | No minimum credit score | Fair credit and above |
| Funding Speed | Same day (Interac e-Transfer) | Pre-approval in 3 minutes |
| Headquarters | Victoria, British Columbia | Vancouver, British Columbia |
| Founded | 2013 | 2003 |
| Best For | Emergency borrowers who need fast access to small amounts before payday | Tech-savvy borrowers who want a flexible line of credit with free credit monitoring |
Loan Amounts
LendDirect
$200 – $1,500
Mogo
Up to $5,000 (MogoMini line of credit)
Interest Rates
LendDirect
$15 per $100 borrowed (where applicable)
Mogo
Up to 34.37% APR
Loan Terms
LendDirect
Up to next payday or installments up to 62 days
Mogo
Revolving (line of credit)
Credit Required
LendDirect
No minimum credit score
Mogo
Fair credit and above
Funding Speed
LendDirect
Same day (Interac e-Transfer)
Mogo
Pre-approval in 3 minutes
Headquarters
LendDirect
Victoria, British Columbia
Mogo
Vancouver, British Columbia
Founded
LendDirect
2013
Mogo
2003
Best For
LendDirect
Emergency borrowers who need fast access to small amounts before payday
Mogo
Tech-savvy borrowers who want a flexible line of credit with 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)
Mogo
Pros
- Free credit score monitoring for all users
- Line of credit flexibility — borrow only what you need
- 100-day trial period to test the product
- Fully digital experience with no branch visits needed
Cons
- Maximum borrowing limit of $5,000
- Interest rate up to 34.37% APR
- Line of credit format may encourage ongoing borrowing
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 Mogo if you're better described as tech-savvy borrowers who want a flexible line of credit with free credit monitoring. They offer Up to $5,000 (MogoMini line of credit) with fair credit and above 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 Mogo 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. Mogo is rated 3.7/5 and is best for tech-savvy borrowers who want a flexible line of credit with free credit monitoring.
Which has lower interest rates?
LendDirect charges $15 per $100 borrowed (where applicable), while Mogo charges Up to 34.37% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
LendDirect: Same day (Interac e-Transfer). Mogo: Pre-approval in 3 minutes.
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