6 Loans Like Lendly

Lendly offers quick loans from $1,000 to $2,000 to employees on a payroll system in certain states. Loans can be funded in as little as 24 hours with repayments coming from future paycheques. While Lendly doesn’t charge any fees, its loans accrue interest on a daily basis and APRs can run as high as a typical payday loan.

Lendly isn’t available in Canada. But these alternatives to Lendly might help you get the money you need with competitive rates and flexible repayment terms.

Our picks for loans like Lendly

• Alternative loan search platform: Loans Canada
• Alternative for bad credit borrowers: Spring Financial
• Alternative for no credit check installment loans: Green Loans
• Alternative flexible credit line: Nyble
• Alternative for instant funding: KOHO Cover
• Alternative for low-cost loans: Bree

Finder Score	APR Range	Loan Amount	Loan Term
Alternative loan search platform: Loans Canada
8.6 Great Loans Canada Personal Loan	8.6 Great	9.99% - 35.00%	$500 - $50,000	6 - 60 months	Go to siteView details Compare product selection Compare	loading	Why we like it Fill out a single loan application in less than 10 minutes on the Loans Canada website, and view loan offers from multiple lenders that work with borrowers with your financial needs. The free platform makes it easy to compare multiple types of financing, including personal loans, car loans, debt consolidation loans and home equity loans. Pros & cons Pros Loans for good and bad credit Compare multiple lenders APRs starting at 9.99% Get funded in one to three business days Cons High rates for bad credit Not a direct lender Limited to Loans Canada's partner network
Alternative for bad credit borrowers: Spring Financial
8.5 Great Spring Financial Personal Loan	8.5 Great	9.99% - 35%	$500 - $35,000	6 - 84 months	Go to siteView details Compare product selection Compare	loading	Why we like it Spring Financial is an option for those who have trouble getting approved by banks and other traditional lenders. Apply online with good or bad credit, and get funded within 24 hours if approved. You won't face any prepayment penalties if you decide to pay off your loan ahead of schedule to save on interest. Pros & cons Pros High-risk applications are okay Flexible loan amounts from $500 to $35,000 No early repayment fees Cons Interest rates of up to 35% for bad credit You may be offered a credit builder loan (The Foundation loan) instead of a personal loan

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Finder Score	Costs	Loan Amount	Loan Term
Alternative flexible credit line: Nyble
9.3 Excellent Nyble Credit Line	9.3 Excellent	0%	$30 - $250	31 days, extendable	Use code CFIND1J to get 500 extra points and a $5 higher approval. T&Cs apply.	Go to siteView details Compare product selection Compare	loading	Why we like it Apply online for an interest-free line of credit of up to $250 to cover small expenses and build your credit. You can choose to get premium perks like fast funding (within 30 minutes), a free Equifax credit report and identity theft protection for $11.99 per month. Pros & cons Pros Get funds within 30 minutes Build your credit history No interest or late fees Easy application process Rewards program Option to extend your payment deadline Cons May take up to 3 business days to get funds if you're not a member Monthly membership fee of $11.99 Amount may not be enough
Alternative for instant funding: KOHO Cover
8.8 Great KOHO Cover	8.8 Great	0% + monthly fee from $2	$20 - $500	Flexible	$75 REWARD Go to siteView details Compare product selection Compare	loading	Why we like it KOHO Cover also offers interest-free cash advances to help you cover short-term financial needs without the hassle of making long-term loan repayments. Borrow funds instantly through KOHO's app, or withdraw money from an ATM. A small monthly subscription fee applies. Pros & cons Pros No credit check No interest Instant access to funds No income required to qualify Cons Monthly subscription fee starting at $2 May have to pay a monthly KOHO plan fee $500 may not be enough Won't improve your credit score
Alternative for low-cost loans: Bree
8.8 Great Bree Early Pay	8.8 Great	0%	$20 - $750	Next pay cycle	Refer a friend and get a $20 credit limit increase on your next withdrawal. T&Cs apply.	Go to siteView details Compare product selection Compare	loading	Why we like it Launched in 2021, Bree provides short-term cash advances to help you ride through small financial emergencies without going into the overdraft. Borrow funds with zero interest and zero fees if you opt for three-day delivery. Pros & cons Pros Easy to apply No credit check required No interest charges Cons $2.99 optional monthly membership fee for express funding if you need extra funding, plus extra transfer fee Small amount may not suit your needs

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How does Lendly compare?

Lendly stands out for having an automated lending process that interfaces with US employers’ payroll systems, making it easy to get approved. The company has good customer reviews on Trustpilot from thousands of customers who mention that it’s easy to make repayments, because funds come directly out of their paycheques.

But like other payday lenders, APRs can run high with Lendly. The company doesn’t disclose APR ranges on its website. Because repayments are fully automated, customers can’t change their payment dates if their bank balances are low. If you live in Canada and need to borrow less than $500, you may find a zero-interest cash advance app cheaper to use.

Alternatives to cash advances and installment loans

If you’d rather skip installment loans and cash advance apps altogether, here are a few alternatives to consider.

• Get a credit card advance. Credit card cash advances are a quick and convenient way to borrow and don’t require a link to your bank account or proof of direct deposits to qualify like some cash apps. Compare credit cards with a range of benefits.
• Take out a personal loan. If you’re willing to borrow at least $1,000, a personal loan may offer better rates and terms than a payday lender like Lendly.
• Use a buy now, pay later (BNPL) app. While not a cash advance, BNPL apps like Affirm, Afterpay and Klarna let you purchase items you need now and pay them off later.
• Get a side job. There are several ways to make money online, such as taking surveys, freelancing and affiliate marketing.
• Get a payday loan—as a last resort. If you’ve exhausted other options, payday lenders can get you cash as soon as the same day. But beware—a typical $500 payday loan can come with up to $70 in fees, and you could get stuck borrowing repeatedly to pay off existing debt.

To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.

Written by

Stacie Hurst

Editor

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Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family. See full bio

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Kat Aoki

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Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio

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