LoanConnect vs GoDay
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 | GoDay |
|---|---|---|
| Loan Amounts | $500 – $50,000 | $100 – $1,500 |
| Interest Rates | 6.99% – 29.99% APR (varies by partner lender) | $15 per $100 borrowed (where applicable) |
| Loan Terms | 6 – 60 months | Up to next payday |
| Credit Required | All credit types accepted | No minimum credit score |
| Funding Speed | As fast as same day | Same day (Interac e-Transfer) |
| Headquarters | Toronto, Ontario | Toronto, Ontario |
| Founded | 2014 | 2012 |
| Best For | Borrowers who want to compare multiple offers at once | Canadians who need a quick payday loan with a simple online process |
Loan Amounts
LoanConnect
$500 – $50,000
GoDay
$100 – $1,500
Interest Rates
LoanConnect
6.99% – 29.99% APR (varies by partner lender)
GoDay
$15 per $100 borrowed (where applicable)
Loan Terms
LoanConnect
6 – 60 months
GoDay
Up to next payday
Credit Required
LoanConnect
All credit types accepted
GoDay
No minimum credit score
Funding Speed
LoanConnect
As fast as same day
GoDay
Same day (Interac e-Transfer)
Headquarters
LoanConnect
Toronto, Ontario
GoDay
Toronto, Ontario
Founded
LoanConnect
2014
GoDay
2012
Best For
LoanConnect
Borrowers who want to compare multiple offers at once
GoDay
Canadians who need a quick payday loan with a simple online process
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
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
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 GoDay if you're better described as canadians who need a quick payday loan with a simple online process. They offer $100 – $1,500 with no minimum credit score 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 GoDay 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. GoDay is rated 3.5/5 and is best for canadians who need a quick payday loan with a simple online process.
Which has lower interest rates?
LoanConnect charges 6.99% – 29.99% APR (varies by partner lender), while GoDay charges $15 per $100 borrowed (where applicable). Your actual rate depends on your credit profile.
Which lender funds faster?
LoanConnect: As fast as same day. GoDay: Same day (Interac e-Transfer).
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