Mogo vs LendDirect
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 | Mogo | LendDirect |
|---|---|---|
| Loan Amounts | Up to $5,000 (MogoMini line of credit) | $200 – $1,500 |
| Interest Rates | Up to 34.37% APR | $15 per $100 borrowed (where applicable) |
| Loan Terms | Revolving (line of credit) | Up to next payday or installments up to 62 days |
| Credit Required | Fair credit and above | No minimum credit score |
| Funding Speed | Pre-approval in 3 minutes | Same day (Interac e-Transfer) |
| Headquarters | Vancouver, British Columbia | Victoria, British Columbia |
| Founded | 2003 | 2013 |
| Best For | Tech-savvy borrowers who want a flexible line of credit with free credit monitoring | Emergency borrowers who need fast access to small amounts before payday |
Loan Amounts
Mogo
Up to $5,000 (MogoMini line of credit)
LendDirect
$200 – $1,500
Interest Rates
Mogo
Up to 34.37% APR
LendDirect
$15 per $100 borrowed (where applicable)
Loan Terms
Mogo
Revolving (line of credit)
LendDirect
Up to next payday or installments up to 62 days
Credit Required
Mogo
Fair credit and above
LendDirect
No minimum credit score
Funding Speed
Mogo
Pre-approval in 3 minutes
LendDirect
Same day (Interac e-Transfer)
Headquarters
Mogo
Vancouver, British Columbia
LendDirect
Victoria, British Columbia
Founded
Mogo
2003
LendDirect
2013
Best For
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
LendDirect
Emergency borrowers who need fast access to small amounts before payday
Pros & Cons
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
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)
Which Lender Should You Choose?
Choose Mogo if you're looking for a lender that specializes in tech-savvy borrowers who want a flexible line of credit with free credit monitoring. They offer loan amounts of Up to $5,000 (MogoMini line of credit) with funding as fast as pre-approval in 3 minutes.
Choose LendDirect if you're better described as emergency borrowers who need fast access to small amounts before payday. They offer $200 – $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 Mogo or LendDirect better?
It depends on your needs. Mogo is rated 3.7/5 and is best for tech-savvy borrowers who want a flexible line of credit with free credit monitoring. LendDirect is rated 3.4/5 and is best for emergency borrowers who need fast access to small amounts before payday.
Which has lower interest rates?
Mogo charges Up to 34.37% APR, while LendDirect charges $15 per $100 borrowed (where applicable). Your actual rate depends on your credit profile.
Which lender funds faster?
Mogo: Pre-approval in 3 minutes. LendDirect: Same day (Interac e-Transfer).
Other Lender Comparisons
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