LendDirect Personal Loans
Borrow up to $25,000 with fast approvals in Canada. Flexible line of credit or secured loan options. No impact to your credit just for checking.
LendDirect offers personal loans for Canadians seeking flexible access to funds, with amounts up to $25,000 and fast online or in-branch approvals. They stand out by providing both a revolving line of credit (up to $10,000) and a secured loan option (up to $25,000). For most applications, there is no impact on your credit score just to see if you’re eligible. While the exact APR and terms vary depending on your province and application, decision times are fast plus you can receive funds via Interac e-Transfer in as little as 15 minutes.
How to Apply: Step by Step
To get started, decide if you prefer to apply online, by phone, or at a branch. For lines of credit, online or phone is available, while secured loans require a branch visit. Complete the application form, submit required documents, and you’ll receive a quick lending decision. Once approved, simply review and sign your loan agreement electronically or in person. Funds are then deposited directly to your linked bank account or sent by e-Transfer.
Pros of LendDirect Loans
One of the biggest advantages is just how fast you can access approved money—often the same day you apply. The flexibility to only pay interest on what you use with the line of credit option is another plus for many Canadians. Additionally, pre-approval checks won’t impact your credit score, making it a low-risk first step to see your eligibility.
Cons of LendDirect Loans
The main drawbacks are that the best rates and highest loan amounts require a secured loan (with your vehicle as collateral), meaning more paperwork. Also, there might be fees and terms that vary by province, so it’s important to carefully review your agreement. Lastly, secured loans aren’t available online.
Final Verdict
LendDirect is a solid pick if you need fast, flexible borrowing options in Canada. The combination of quick approvals, transparent process, and a range of amounts make it a top choice for many. However, it’s wise to compare all your options and fully understand terms before committing.
