Spring Financial 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 | Spring Financial | GoDay |
|---|---|---|
| Loan Amounts | $500 – $35,000 | $100 – $1,500 |
| Interest Rates | 9.99% – 34.95% APR | $15 per $100 borrowed (where applicable) |
| Loan Terms | 6 – 84 months | Up to next payday |
| Credit Required | All credit types accepted | No minimum credit score |
| Funding Speed | As fast as 24 hours | Same day (Interac e-Transfer) |
| Headquarters | Toronto, Ontario | Toronto, Ontario |
| Founded | 2014 | 2012 |
| Best For | Borrowers looking to build or rebuild credit | Canadians who need a quick payday loan with a simple online process |
Loan Amounts
Spring Financial
$500 – $35,000
GoDay
$100 – $1,500
Interest Rates
Spring Financial
9.99% – 34.95% APR
GoDay
$15 per $100 borrowed (where applicable)
Loan Terms
Spring Financial
6 – 84 months
GoDay
Up to next payday
Credit Required
Spring Financial
All credit types accepted
GoDay
No minimum credit score
Funding Speed
Spring Financial
As fast as 24 hours
GoDay
Same day (Interac e-Transfer)
Headquarters
Spring Financial
Toronto, Ontario
GoDay
Toronto, Ontario
Founded
Spring Financial
2014
GoDay
2012
Best For
Spring Financial
Borrowers looking to build or rebuild credit
GoDay
Canadians who need a quick payday loan with a simple online process
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
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 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 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 Spring Financial or GoDay better?
Spring Financial is best suited to borrowers looking to build or rebuild credit, 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 Spring Financial vs GoDay?
Spring Financial charges 9.99% – 34.95% APR, 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 — Spring Financial or GoDay?
Spring Financial offers funding in as fast as 24 hours, 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