LoanConnect vs Fairstone 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 | LoanConnect | Fairstone Financial |
|---|---|---|
| Loan Amounts | $500 – $50,000 | $500 – $60,000 |
| Interest Rates | 6.99% – 29.99% APR (varies by partner lender) | 19.99% – 34.99% APR |
| Loan Terms | 6 – 60 months | 6 – 120 months |
| Credit Required | All credit types accepted | Fair to good credit preferred |
| Funding Speed | As fast as same day | 1 – 3 business days |
| Headquarters | Toronto, Ontario | Montreal, Quebec |
| Founded | 2014 | 1923 |
| Best For | Borrowers who want to compare multiple offers at once | Homeowners who want larger secured loans with longer terms |
Loan Amounts
LoanConnect
$500 – $50,000
Fairstone Financial
$500 – $60,000
Interest Rates
LoanConnect
6.99% – 29.99% APR (varies by partner lender)
Fairstone Financial
19.99% – 34.99% APR
Loan Terms
LoanConnect
6 – 60 months
Fairstone Financial
6 – 120 months
Credit Required
LoanConnect
All credit types accepted
Fairstone Financial
Fair to good credit preferred
Funding Speed
LoanConnect
As fast as same day
Fairstone Financial
1 – 3 business days
Headquarters
LoanConnect
Toronto, Ontario
Fairstone Financial
Montreal, Quebec
Founded
LoanConnect
2014
Fairstone Financial
1923
Best For
LoanConnect
Borrowers who want to compare multiple offers at once
Fairstone Financial
Homeowners who want larger secured loans with longer terms
Pros & Cons
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
Fairstone Financial
Pros
- Over 100 years of lending experience in Canada
- Both unsecured and secured loan options
- Large loan amounts up to $60,000 for homeowners
- 200+ physical branch locations across Canada
Cons
- Minimum interest rate of 19.99% is higher than bank alternatives
- Secured loans require home equity as collateral
- Branch visit may be required to finalize some loans
Which Lender Should You Choose?
Choose LoanConnect if you're looking for a lender that specializes in borrowers who want to compare multiple offers at once. They offer loan amounts of $500 – $50,000 with funding as fast as as fast as same day.
Choose Fairstone Financial if you're better described as homeowners who want larger secured loans with longer terms. They offer $500 – $60,000 with fair to good credit preferred 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 LoanConnect or Fairstone Financial better?
It depends on your needs. LoanConnect is rated 4.1/5 and is best for borrowers who want to compare multiple offers at once. Fairstone Financial is rated 4.0/5 and is best for homeowners who want larger secured loans with longer terms.
Which has lower interest rates?
LoanConnect charges 6.99% – 29.99% APR (varies by partner lender), while Fairstone Financial charges 19.99% – 34.99% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
LoanConnect: As fast as same day. Fairstone Financial: 1 – 3 business days.
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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