Spring Financial 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 | Spring Financial | Fairstone Financial |
|---|---|---|
| Loan Amounts | $500 – $35,000 | $500 – $60,000 |
| Interest Rates | 9.99% – 34.95% APR | 19.99% – 34.99% APR |
| Loan Terms | 6 – 84 months | 6 – 120 months |
| Credit Required | All credit types accepted | Fair to good credit preferred |
| Funding Speed | As fast as 24 hours | 1 – 3 business days |
| Headquarters | Toronto, Ontario | Montreal, Quebec |
| Founded | 2014 | 1923 |
| Best For | Borrowers looking to build or rebuild credit | Homeowners who want larger secured loans with longer terms |
Loan Amounts
Spring Financial
$500 – $35,000
Fairstone Financial
$500 – $60,000
Interest Rates
Spring Financial
9.99% – 34.95% APR
Fairstone Financial
19.99% – 34.99% APR
Loan Terms
Spring Financial
6 – 84 months
Fairstone Financial
6 – 120 months
Credit Required
Spring Financial
All credit types accepted
Fairstone Financial
Fair to good credit preferred
Funding Speed
Spring Financial
As fast as 24 hours
Fairstone Financial
1 – 3 business days
Headquarters
Spring Financial
Toronto, Ontario
Fairstone Financial
Montreal, Quebec
Founded
Spring Financial
2014
Fairstone Financial
1923
Best For
Spring Financial
Borrowers looking to build or rebuild credit
Fairstone Financial
Homeowners who want larger secured loans with longer terms
Pros & Cons
Spring Financial
Pros
- Accepts all credit types, including bad credit
- Credit-building program (The Foundation) reports to both major bureaus
- Fast online application with decisions in minutes
- No branch visit required — fully online process
Cons
- Maximum APR of 34.95% for higher-risk borrowers
- Not available for Quebec residents on some products
- Personal loans require minimum income verification
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 Spring Financial if you're looking for a lender that specializes in borrowers looking to build or rebuild credit. They offer loan amounts of $500 – $35,000 with funding as fast as as fast as 24 hours.
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 Spring Financial or Fairstone Financial better?
It depends on your needs. Spring Financial is rated 4.2/5 and is best for borrowers looking to build or rebuild credit. 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?
Spring Financial charges 9.99% – 34.95% APR, while Fairstone Financial charges 19.99% – 34.99% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
Spring Financial: As fast as 24 hours. Fairstone Financial: 1 – 3 business days.
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