Online lenders, peer-to-peer lending and loan search services in Canada, with the rates, amounts and fees each one publishes.
Online and alternative lenders
Listed in alphabetical order. Rates, amounts and fees come from each lender’s own website. Your offer depends on your credit, income and province.
easyfinancial
Unsecured personal loan
Personal loan
Unsecured
Direct lender
Interest rate
29.99% – 35%
Amount
$500 – $20,000
Term
9 – 84 months
Early repayment
No penalty
Personal loan rates start at 29.99%. The page states APRs between 9.99% and 35% across its loans, which include lower-rate home equity loans.
Fees, eligibility and how it works
A national lender with over 350 locations that approves borrowers with limited or damaged credit.
Lending entity: easyfinancial Services, part of goeasy Ltd.
Fees
No upfront application fee
Advertised prices can include optional Loan Protection coverage
Early repayment
Pay off at any time with no penalty; return the loan within 14 days without penalty
Example
$1,000 over 12 months at 29.99%: $125.09 a month, $1,501.08 in total
Credit check
No credit history needed; applying does not affect your credit score
Documents
Two recent pay stubs, 90 days of banking history, a recent bill at your address and government photo ID
Funding
By Interac e-Transfer within hours of approval
How to apply
Online, by phone or at a branch
Fairstone
Unsecured personal loan
Personal loan
Unsecured
Direct lender
Interest rate
29.99% – 34.99%
Amount
$500 – $25,000
Term
Set in your offer
Early repayment
Check terms
Annual interest rates of 29.99%–34.99%, as stated for Newfoundland and Labrador and Manitoba residents. Your APR varies by province, credit report and loan details.
Fees, eligibility and how it works
A long-established consumer lender with about 250 branches that serves near-prime borrowers, online or in person.
Lending entity: Fairstone Financial Inc., a wholly owned subsidiary of Fairstone Bank of Canada
Fees
$45 charge for a payment returned for non-sufficient funds
Credit check
A loan quote does not affect your credit score
Funding
Money in as little as 24 hours after you finalize the application
Cancellation
Can be cancelled within 14 days of signing under high-cost credit rules in the provinces where those rules apply
How to apply
Online or at a branch
Fairstone
Secured personal loan (homeowners)
Personal loan
Secured
Direct lender
Interest rate
19.99% – 25.99%
Amount
$5,000 – $50,000
Term
3 – 10 years
Early repayment
Check terms
Interest rates of 19.99%–25.99%. Your APR also includes administration, appraisal, title and lawyer or notary fees where they apply.
Fees, eligibility and how it works
A long-established consumer lender with about 250 branches that serves near-prime borrowers, online or in person.
Lending entity: Fairstone Financial Inc., a wholly owned subsidiary of Fairstone Bank of Canada
Fees
Administration, appraisal, title and lawyer or notary fees may apply and are included in the loan contract
Example
$40,000 secured loan: 23.26% APR over 120 months, $861 a month
Funding
Money in as little as 24 hours after you finalize the application
How to apply
Online or at a branch
goPeer
Personal loan
Personal loan
Unsecured
Peer-to-peer platform
APR
8.99% – 34.99%
Amount
$1,000 – $35,000
Term
3 or 5 years
Early repayment
Check terms
APR of 8.99%–34.99%, including the origination fee.
Fees, eligibility and how it works
A peer-to-peer platform where loans are funded by Canadian investors. Best suited to borrowers with good to excellent credit.
Payments 30+ days late: the greater of $25 or 5% of the payment due
Example
$10,000 over 3 years at 19.99% APR: $85.36 a week, $3,301.20 total cost of borrowing
Funding
Pre-qualification answer within 24–48 hours
Provinces
Offered across Canada; lending rules may vary by province
How to apply
Online
LendDirect
Line of credit
Line of credit
Unsecured
Direct lender
APR
34.99%
Amount
Up to $10,000
Term
Revolving
Early repayment
Check terms
34.99% annual interest rate (APR).
Fees, eligibility and how it works
An online and branch lender offering a revolving line of credit and vehicle-secured loans.
Fees
Minimum advance of $50
Credit check
Pre-approval uses a soft check; accepting an offer triggers a hard inquiry
Who can apply
18 or older, valid ID, steady income and an open chequing account
Funding
As little as 15 minutes by Interac e-Transfer after approval
Credit reporting
Payment history is reported to Equifax
How to apply
Online
LendDirect
Vehicle-secured loan
Personal loan
Secured
Direct lender
APR
24.99% – 34.99%
Amount
Up to $25,000
Term
Set in your offer
Early repayment
Check terms
APR of 24.99%, 29.99% or 34.99%, depending on your application and net pay.
Fees, eligibility and how it works
An online and branch lender offering a revolving line of credit and vehicle-secured loans.
Fees
Security search and lien fees, which vary by province
How to apply
At a branch; your vehicle is the security
Spring Financial
Personal loan
Personal loan
Unsecured
Direct lender
APR
9.99% – 35%
Amount
$500 – $35,000
Term
6 – 84 months
Early repayment
No penalty
Interest rates of 9.99%–34.95%; APRs of 9.99%–35.00%.
Fees, eligibility and how it works
An online lender in Vancouver that reports payments to both credit bureaus.
Lending entity: Spring Financial Inc.
Fees
No upfront fee to process an application
Early repayment
Open loan: repay early with no extra fees or penalties
Example
$5,000 over 48 months at 9.99% APR: $29.17 a week, $1,066.48 in interest
Credit check
Applying does not affect your credit score
Who can apply
Age of majority in your province, valid ID and some form of income
Funding
Within 1–2 business days; some loans are sent the same day by e-Transfer
Credit reporting
Payments are reported to Equifax and TransUnion
How to apply
Online
Loan search services
These sites send one application to several lenders and show you the offers. They are paid by the lender, and the loan contract is with whichever lender you choose.
Loans Canada
Loan search service
Not a lender
Free to use
Partner APRs
9.99% – 35%
Amount
$250 – $50,000
Term
3 to 60 months or longer
Cost to you
Lender’s terms
A free loan search and comparison service that passes your application to partner lenders. It is not a lender.
How it works
Partner personal loan APRs of 9.99%–35%.
Fees
Free to use; paid by lenders
Lenders may charge about $45 for a missed payment
Example
$500 over 9 months, paid monthly: $81.15 a month, $730.35 in total, including the partner's optional loan protection
FatCat Loans
Loan search service
Not a lender
Free to use
Partner APRs
9.99% – 35%
Amount
$500 – $50,000
Term
6 – 84 months
Cost to you
Lender’s terms
A free loan matching service that connects you with third-party lenders. It is not a lender.
How it works
Typical personal loan APRs of 9.99%–35% (the site advertises rates from 4.84% across all loan types).
Fees
Free to use; paid by lenders when a loan is funded
Example
$5,000 over 24 months at 24.99% APR: $268.67 a month, $6,448.08 in total
Credit check
Matching uses a soft check; lenders may run their own check before approval
Before you sign
Compare the APR, not the interest rate: APR includes mandatory fees.
Check whether loan protection insurance is included. It is optional.
Never pay a fee up front to “unlock” a loan. That is a common scam.
Confirm the lender is licensed in your province.
The legal limit
Since January 1, 2025, Canada's Criminal Code caps the annual percentage rate on most consumer loans at 35% APR.
WalletReturn compares information and hypothetical costs. No application, identity collection or credit check takes place here. Lender approval, current contract terms and province eligibility must be confirmed with the lender.
