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5 loans like Mogo

Find loans with competitive rates and eligibility criteria similar to this lender's.

Whether you want to secure a competitive interest rate or prefer to obtain quotes without hurting your credit score, Mogo has got you covered. However, it’s important to comparison shop before deciding on a lender, so here’s a look at loan alternatives that are similar to Mogo but may better suit your needs.

5 loans like Mogo

If you’re looking for similar eligibility criteria: Spring
If you’re looking for friendly, helpful customer service: SkyCap

If you’re looking for competitive rates: LoanConnect
If you’re looking for fast funding: Loans Canada
If you’re looking for a line of credit: Fora

If you’re looking for similar eligibility criteria: Spring

Spring Financial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
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Spring Financial Personal Loan

$500 – $35,000
Loan amount
10.8% – 46.99%
APR
6 - 60 months
Term
You can apply for a Spring Financial loan if you're having trouble getting approved for a personal loan via banks or credit unions.
  • High-risk applications, such as those with bad credit, can apply.
  • No fees for applying, maintenance or any other hidden costs.
  • Interest rates of up to 46.99% for bad credit.
Loan amount $500 – $35,000
APR 10.8% – 46.99%
Term 6 - 60 months
Min. credit score 500
Fees No fees except $30 NSF fee
Origination fee N/A
Turnaround time Within 24 hours

If you’re looking for friendly, helpful customer service: SkyCap

SkyCap Financial Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
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SkyCap Financial Personal Loan

$500 – $10,000
Loan amount
12.99% – 39.99%
APR
9 - 36 months
Term
Apply online and get approved for financing in as little as 24 hours. SkyCap will work with you so you can get a loan with affordable payments.
  • No prepayment penalties, so you can pay off some or all of your balance without fees.
  • Easy-to-follow online-only application.
  • You must make over $1,666.67 per month to qualify for a loan.
  • Nova Scotia and Quebec are not serviced.
  • You must have a credit score of at least 575.
Loan amount $500 – $10,000
APR 12.99% – 39.99%
Term 9 - 36 months
Min. credit score 575
Fees No fees except a $50 NSF fee
Origination fee N/A
Turnaround time 24 hours

If you’re looking for competitive rates: LoanConnect

LoanConnect Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site Read review

LoanConnect Personal Loan

$500 – $50,000
Loan amount
8.99% – 46.96%
APR
3 - 120 months
Term
LoanConnect is an online broker. Fill out 1 application and get matched with multiple loan offers.
  • Fast, free and easy to use.
  • Get pre-approved within minutes of applying.
  • Interest rates up to 46.96%.
  • No in-person customer service.
Loan amount $500 – $50,000
APR 8.99% – 46.96%
Term 3 - 120 months
Min. credit score 300
Fees No application, origination or brokerage fees
Origination fee 0
Turnaround time Receive funds within as little as 24 hours.

If you’re looking for fast funding: Loans Canada

Loans Canada Personal Loan
Finder Score:
★★★★★
Customer Survey:
★★★★★
Go to site Read review

Loans Canada Personal Loan

$300 – $50,000
Loan amount
6.99% – 46.96%
APR
3 - 60 months
Term
Loans Canada offers loans for all types of borrowers, including people with fair or bad credit. Fill out an application to get matched with lenders that are open to financing you. You can typically receive your funds in as little as 24 hours
  • Easy online application
  • Quick deposits
  • High loan amounts of up to $50,000
  • No collateral required to secure your loan
  • Interest rates can reach as high as 46.96%
  • No online quotes provided
Loan amount $300 – $50,000
APR 6.99% – 46.96%
Term 3 - 60 months
Min. credit score 300
Fees No application, origination or brokerage fees
Origination fee 0
Turnaround time Receive funds within as little as 24 hours.

If you’re looking for a line of credit: Fora

Fora Line of Credit
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★★★★★
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Fora Line of Credit

$1,000 – $10,000
Loan amount
19.9% – 46.9%
APR
Open
Term
Fora is a suitable option if you're looking for an alternative to Mogo's MogoMini line of credit. You can apply and get approved with a low credit score
  • Funding as soon as the same business day
  • A portion of each payment is allocated to the principal
  • Withdraw as little or as much as you need to
  • High interest rates
Loan amount $1,000 – $10,000
APR 19.9% – 46.9%
Term Open
Fees $0

How does Mogo compare?

You can read our review of Mogo for more details, but here are the highlights:

Pros

  • Create a free Mogo account online to see what rates you qualify for. Doing so won’t hurt your credit score.
  • An easy-to-follow online application from start to finish, with approvals and funding within 1 to 2 days.
  • Pay off some or all of your loan anytime without incurring prepayment penalties.
  • Applicants with bad credit will be considered.

Cons

  • Interest rates reach as high as 46.96% for riskier borrowers.
  • Residents of Saskatchewan, Quebec, Newfoundland, Yukon, Northwest Territories and Nunavut are not eligible.

What do I need to apply for a personal loan?

To be eligible for a Mogo personal loan and loans like Mogo, you need to meet the following criteria:

  • You must be a resident of British Columbia, Alberta, Manitoba, Ontario, New Brunswick, Nova Scotia or Prince Edward Island.
  • You must be at least 18 years old, or the age of majority in your province.

You may also need to have:

  • A minimum annual income of at least $13,000
  • A steady income for at least 30 days
  • A bank statement with your full name, account number and payroll deposit

Bottom line

Mogo is known for allowing borrowers to obtain loan quotes without affecting their credit score, a quick and easy online application, and fast funding. But other players in the online lending space share these features too. Before deciding on a lender, make sure you do your research and compare interest rates, fees and terms of multiple personal loans. You may find an alternative option that will save you money or make it easier to manage your loan in the long run. Compare more personal loans.

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