Finder makes money from featured partners, but editorial opinions are our own.

6 loans like LendDirect

Compare six providers similar to LendDirect.

Promoted

Bree Early Pay

Bree Early Pay logo
  • Access up to $250
  • No interest or required fees
  • No credit check required
Go to site

LendDirect is an alternative lender that offers lines of credit to borrowers who may not get approved by banks or credit unions. Its loan rates range from 29.99% - 46.93%, and you can withdraw as much or as little as you need based on your approved limit.

It’s a legitimate option if you’re looking for an online line of credit, but if you’d like to explore loans like LendDirect, check out our list below.

6 loans like LendDirect

1. Fora

Fora Line of Credit
Finder Score:
★★★★★
Go to site
$1,000 – $10,000
Loan amount
19.9% – 46.9%
APR
Open
Term
Fora is a fairly new lender of lines of credit in Canada. Its rates and loan amounts are similar to LendDirect, and it's possible to get approved with a low credit score. Once you're approved, you can get your funds as soon as the same business day. Full Review
  • Fast decisions and funding
  • No extra fees
  • High rates
Loan amount $1,000 – $10,000
APR 19.9% – 46.9%
Term Open
Fees $0
Serviced provinces AB, BC, NB, NL, NS, ON and SK

2. Mogo

MogoMini Line of Credit
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site
$1,000 – $3,500
Loan amount
Up to 47.42%
APR
No end dates
Term
Mogo is a Canadian fintech company that's been in business since 2003. Its MogoMini line of credit is designed for borrowers who want to avoid payday loans but can't get approved for loans with lower interest rates. Full Review
  • Preapprovals with no impact to credit score
  • Potentially cheaper than payday loans
  • High interest rates
Loan amount $1,000 – $3,500
APR Up to 47.42%
Term No end dates
Min. credit score 600
Fees None
Serviced provinces BC, AB, SK, MB, ON, NB, NS, NF, PEI, NU, NT

3. Loans Canada

Loans Canada Line of Credit
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site
$5,000 – $35,000
Loan amount
9.9% – 21.5%
APR
Open
Term
Loans Canada is a loan search platform with a large network of lenders, including those that offer loans like LendDirect. Submit one application to get matched with lenders. Full Review
  • Get connected to lenders that match your profile
  • Fast preapprovals
  • Not a direct lender
  • Your options are limited to its network
Loan amount $5,000 – $35,000
APR 9.9% – 21.5%
Term Open
Min. credit score 300
Fees No application, origination or brokerage fees
Turnaround time Receive funds within as little as 24 hours.
Serviced provinces All of Canada

4. LoanConnect

LoanConnect Line of Credit
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site
$500 – $50,000
Loan amount
19.99% – 46.96%
APR
Open
Term
LoanConnect is another loan search platform that can help you find a line of credit through its network of lenders. You can apply online within minutes and get matched with a suitable line of credit lender. LoanConnect works with borrowers with all types of credit. Full Review
  • Get connected to lenders that match your profile
  • Fast preapprovals
  • Not a direct lender
  • Your options are limited to its network
Loan amount $500 – $50,000
APR 19.99% – 46.96%
Term Open
Min. credit score 300
Fees No application, origination or brokerage fees
Turnaround time Receive funds within as little as 24 hours.
Serviced provinces All provinces.

5. Nyble

Nyble Credit Line
Not yet rated
Go to site
$30 – $150
Loan amount
Starting at 0%
APR
30 days, extendable
Term
Apply online for an interest-free line of credit of up to $150 to cover small expenses and build your credit. Get funds in 1-3 business days with a free account. For $11.99 per month, get access to premium services, including funding in 1-30 minutes, a free Equifax credit report and identity theft protection. Full Review
  • Easy application process
  • No credit checks
  • No interest
  • Can improve your credit score
  • Roll over your loan
  • Loan amount may not be enough for your needs
  • $11.99 per month for fast transfers and other premium perks
Loan amount $30 – $150
APR Starting at 0%
Term 30 days, extendable
Fees No interest or fees to access credit line, optional $11.99/month membership to get premium services such as instant funding
Turnaround time 1-30 minutes with a paid membership or 1-3 business days with a free membership.
Serviced provinces All provinces and territories

6. Cash Money

Cash Money Line of Credit
Finder Score:
★★★★★
$500 – $10,000
Loan amount
Up to 46.93%
APR
No end dates
Term
Cash Money is an alternative lender that has been in business for decades. You can apply for Cash Money's line of credit if you live in AB, BC, MB, NB, NL, NS, ON & SK, and you can get a fast decision. Cash Money and LendDirect are owned by the same company. Full Review
  • Fast approvals
  • Fast funding
  • Not available in all provinces
  • High cost of borrowing
Loan amount $500 – $10,000
APR Up to 46.93%
Term No end dates
Min. credit score 600
Fees Establishment fees, missed payment fees and default penalty fees may apply.
Turnaround time Get access to funds anytime once approved
Serviced provinces AB, BC, MB, NB, NL, NS, ON & SK

How does LendDirect compare?

You can read our LendDirect review for details, but here are the highlights:

  • Flexible repayments
  • Flexible amounts
  • Fast approvals
  • Fast funding via Interac e-Transfer
  • High interest rates
  • People with poor credit may not get approved

Bad credit installment loans vs line of credit loans like LendDirect

If you have a low credit score and looking to get a loan online, installment loans are another option. Many installment loans online are easier to get than lines of credit. However, they offer less flexibility with repayments since they require regular fixed payments.

Bad credit installment loansLine of credit loans like LendDirect
Loan amountUp to $10,000Up to $10,000
Loan term3 - 60 monthsOpen
CostCan be cheaper or more expensive than lines of credit, depending on how long it takes a borrower to pay off their line of credit balanceCan be cheaper or more expensive than installment loans, depending on how long it takes a borrower to pay off their line of credit balance
RepaymentsMake regular equal payments monthly, pay off your loan any time without penaltyMake minimum payments monthly, pay off your balance any time without penalty
SpeedApprovals and funding as soon as the same dayApprovals and funding as soon as the same day
24/7 fundingNot availableNot available
EligibilityMeet minimum credit score and income requirements, have an active chequing accountMeet minimum credit score and income requirements, have an active chequing account
Ease of approvalSomewhat easier to get approved for than lines of credit like LendDirectSomewhat harder to get approved for than bad credit installment loans
Credit checkOften requiredRequired
Payout methode-Transfer or direct deposite-Transfer or direct deposit

How do I sign up for loans like LendDirect?

Loans like LendDirect require the following information:

  • Basic personal information
  • Active bank account
  • Steady source of income paid into your bank account

To sign up, provide your name, address, phone number, email, employment details and housing status. Then you’ll verify your income and identity by either going through instant bank verification or by emailing bank statements and proof of employment.

Bottom line

LendDirect is an alternative lender of lines of credit in Canada, allowing you to withdraw as much as you need up to your limit. If LendDirect is not an option for you, loans most similar to LendDirect that you can consider include Fora, Mogo and Cash Money. All these lines of credit have higher interest rates than lines of credit you’d get from a bank or credit union. If you get this loan, it’s important to avoid overspending and to pay off the balance as soon as possible.

More guides on Finder

Go to site