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?
LoanConnect is best suited to borrowers who want to compare multiple offers at once, while GoDay is best suited to canadians who need a quick payday loan with a simple online process. The better option depends on your credit profile and borrowing needs.
What are the interest rates for LoanConnect vs GoDay?
LoanConnect charges 6.99% – 29.99% APR (varies by partner lender), while GoDay charges $15 per $100 borrowed (where applicable). Your actual rate will depend on your credit profile and the specific loan product you qualify for.
Which lender has faster funding — LoanConnect or GoDay?
LoanConnect offers funding in as fast as same day, while GoDay provides funds in 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