Mogo vs LoanConnect
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 | LoanConnect |
|---|---|---|
| Loan Amounts | Up to $5,000 (MogoMini line of credit) | $500 – $50,000 |
| Interest Rates | Up to 34.37% APR | 6.99% – 29.99% APR (varies by partner lender) |
| Loan Terms | Revolving (line of credit) | 6 – 60 months |
| Credit Required | Fair credit and above | All credit types accepted |
| Funding Speed | Pre-approval in 3 minutes | As fast as same day |
| Headquarters | Vancouver, British Columbia | Toronto, Ontario |
| Founded | 2003 | 2014 |
| Best For | Tech-savvy borrowers who want a flexible line of credit with free credit monitoring | Borrowers who want to compare multiple offers at once |
Loan Amounts
Mogo
Up to $5,000 (MogoMini line of credit)
LoanConnect
$500 – $50,000
Interest Rates
Mogo
Up to 34.37% APR
LoanConnect
6.99% – 29.99% APR (varies by partner lender)
Loan Terms
Mogo
Revolving (line of credit)
LoanConnect
6 – 60 months
Credit Required
Mogo
Fair credit and above
LoanConnect
All credit types accepted
Funding Speed
Mogo
Pre-approval in 3 minutes
LoanConnect
As fast as same day
Headquarters
Mogo
Vancouver, British Columbia
LoanConnect
Toronto, Ontario
Founded
Mogo
2003
LoanConnect
2014
Best For
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
LoanConnect
Borrowers who want to compare multiple offers at once
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
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
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 LoanConnect if you're better described as borrowers who want to compare multiple offers at once. They offer $500 – $50,000 with all credit types accepted 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 LoanConnect better?
Mogo is best suited to tech-savvy borrowers who want a flexible line of credit with free credit monitoring, while LoanConnect is best suited to borrowers who want to compare multiple offers at once. The better option depends on your credit profile and borrowing needs.
What are the interest rates for Mogo vs LoanConnect?
Mogo charges Up to 34.37% APR, while LoanConnect charges 6.99% – 29.99% APR (varies by partner lender). Your actual rate will depend on your credit profile and the specific loan product you qualify for.
Which lender has faster funding — Mogo or LoanConnect?
Mogo offers funding in pre-approval in 3 minutes, while LoanConnect provides funds in as fast as same day.
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