5 Loans Like Spring Financial

Online lender Spring Financial offers personal loans of up to $35,000. You can apply online without leaving home, and if approved you’ll get your loan the same day.

But while Spring Financial is worth checking out if you need a fast online loan, it’s far from your only option. Keep reading to compare loans like Spring Financial and learn how they stack up against this popular online lender.

Finder Score	APR Range	Loan Amount	Loan Term
1. LoanConnect
Finder score 8.8 Great LoanConnect Personal Loan	Finder score 8.8 Great	8.99% - 35.00%	$500 - $60,000	3 - 120 months	Go to siteView details Compare product selection Compare	loading	Why we like it LoanConnect is an online loan search platform, so it's not a direct lender like Spring Financial. But it does make it quick and easy to compare offers from its network of lenders, as you can apply online and see loan offers in as little as a minute. And with loans for all types of credit available, LoanConnect offers a simple way for a wide range of people to find funding. Pros & cons Pros Fast online pre-approval Won't hurt your credit score to apply Bad credit is OK Loans of up to $60,000 available Rates from 8.99% Cons Not a direct lender APRs of up to 35% for bad credit You're limited to LoanConnect's network
2. Loans Canada
Finder score 8.6 Great Loans Canada Personal Loan	Finder score 8.6 Great	9.99% - 35.00%	$500 - $35,000	6 - 60 months	Go to siteView details Compare product selection Compare	loading	Why we like it Unlike Spring Financial, Loans Canada is not a direct lender. Instead, it's a loan search platform where you can compare loan offers from Canada's largest network of lenders. Once you fill out a single online application, you'll be matched with suitable offers from Loans Canada's lending partners. Once you find an offer you like, you can complete the application with the lender of your choice. Pros & cons Pros Large network of lenders Compare loan offers to choose the best one Funding available for good or bad credit Free platform Rates starting from 9.99% Cons High interest rates for bad credit Not a direct lender Check with the lender for any fees that may apply
3. AAR Financial
Finder score 7.7 Great AAR Financial Personal Loan	Finder score 7.7 Great	14.90% - 35.00%	$1,000 - $50,000	24 - 120 months	View details Compare product selection Compare	loading	Why we like it AAR Financial offers unsecured personal loans for borrowers with all types of credit. Like Spring Financial, it offers a simple application process and fast access to funds. There are flexible loan terms available too, with repayments spread over a period ranging from 2 to 10 years. But unlike Spring Financial, AAR Financial loans are only available in selected provinces. Pros & cons Pros Get your funds the same day High approval rate Bad credit or no credit is OK No prepayment penalty Cons Only available in AB, BC, MB, ON and SK High rates for bad credit $90 NSF fee, which is higher than average
4. Blue Copper Capital
Finder score 8 Great Blue Copper Capital Personal Loan	Finder score 8 Great	16.00% - 35.00%	$1,000 - $100,000	6 - 84 months	View details Compare product selection Compare	loading	Why we like it Blue Copper Capital offers personal loans, payday loans and lines of credit. You can apply online or at one of the lender's Alberta locations, and you can choose an unsecured loan or provide an asset as collateral for a secured loan. You can then repay what you borrow over a period of up to 84 months, but you also have the option to pay off your loan early without penalty. Pros & cons Pros Large loan amounts of up to $100,000 Apply online in minutes Could help improve your credit score 4.8/5 stars based on 220+ Trustpilot reviews Cons High rates for bad credit Only available in BC and AB References required to apply
5. easyfinancial
Finder score 8.6 Great easyfinancial Personal Loan	Finder score 8.6 Great	9.99% - 35.00%	$500 - $150,000	9 - 240 months	View details Compare product selection Compare	loading	Why we like it Like Spring Financial, easyfinancial is an alternative lender and a member of the Canadian Lenders Association. You can apply for a loan online, get approved and receive funding on the same day. And if you want to pay your loan off early, you can do so without penalty. But easyfinancial offers unsecured personal loans of up to $20,000 and secured home equity loans of up to $150,000. Pros & cons Pros Better Business Bureau accredited with an A+ rating Secured and unsecured loans available Get pre-approved with no impact on your credit score Bad credit is OK Same-day funding available Cons High rates for bad credit Watch out for extra fees

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How does Spring Financial compare?

For a full rundown of how Spring Financial stacks up against the competition, check out our Spring Financial review. But if you’re just looking for a quick comparison, check out Spring Financial’s pros and cons.

What to expect from the approval and application process

Online lenders like Spring Financial typically offer a quick and easy online application process. You will need to fill out a form with details such as your name, address, date of birth and contact information, plus details of how much you want to borrow.

You will also need to provide information about your employment or other sources of income. In the past, you usually needed to provide recent bank statements to prove your income, but many lenders can now review your bank statements through an encrypted portal thanks to instant banking verification (IBV).

Online lenders like Spring Financial also offer fast approval and funding. Spring Financial offers same-day funding via e-Transfer, but it may take approximately 24 to 72 hours to get approved and funded with some lenders.

What to watch out for

• High rates for bad credit. If you have bad credit, your personal loan could come with an APR as high as 34.95%. Learn more about bad credit loans.
• Additional fees. You’ll also need to check the fine print for details of any other fees that may apply, such as origination fees, NSF fees and late payment fees.
• References sometimes required. Some online lenders like Spring Financial require you to provide up to three references in order to qualify for a loan.
• Income requirements. You’ll typically need to meet a minimum income requirement to qualify for a loan. Some lenders also may not accept income types other than employment income.
• Credit builder loans. Some lenders offer credit builder loans as an alternative to personal loans, requiring you to make fixed monthly payments to build credit. Spring Financial offers the Foundation credit builder loan, which has earned a fair few negative customer reviews across platforms like Reddit and Trustpilot.

Bottom line

There are plenty of options worth checking out if you’re looking for loans like Spring Financial. But each alternative lender and loan search platform has its own pros and cons, so make sure you compare a range of borrowing options before deciding where to apply for a loan.

Frequently asked questions

• How much can I borrow with a Spring Financial personal loan?

  Spring Financial personal loan amounts range from $500 to $35,000.

• Can I get a loan from Spring Financial?

  You'll need to be the age of majority in your province or territory to get a loan from Spring Financial. You will also need to have been employed in your current job for at least three months and have a minimum income of $2,000 per month. You can also get approved with less-than-perfect credit, but you'll only be able to qualify for a higher interest rate.

• Can I apply for a Spring Financial loan at a branch?

  No. Spring Financial is an online-only lender and does not operate any branches.

• How can I find the best personal loan?

  You'll need to compare a range of lenders and loans to find an affordable loan that meets your needs. Check the APR when comparing loans to get a clearer idea of how much each loan will cost. You'll also need to consider loan amounts, eligibility criteria and repayment flexibility before deciding which personal loan is right for you.

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

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

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Tim has written 551 Finder guides across topics including:

• Banking
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