Choose a country
Choose a city
Choose a city
Choose a language
Select country
Choose a country
United States
Việt nam
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

LendDirect's application


How to apply

Applicants may meet a representative at the nearest LendDirect office. To ensure a smooth application process, you should carry all the necessary documents when going to the office.

LendDirect presents a fully paperless online application process, where applicants can get financing with zero branch visits. They just need to fill up an online application form and upload the necessary documents for verification.

Applicants can also get an estimated qualification amount without impacting their credit score. LendDirect website has a quick estimate calculator, that allows applicants to find out the estimated credit limit without initiating a hard inquiry.


The applicant must be:

  • 18 years old or above in age;

  • A Canadian resident;

  • A legal account holder of an active bank account;

  • A salaried or self-employed individual with a stable income source.

For LendDirect loan, applicants must present the documents mentioned below.

  • Valid government identification document or driver's license;

  • Personal bank account information;

  • Valid document for income verification.

However, this is a general list of demanded documents. LendDirect may ask for additional documents for verification.

Loan terms

Currently, LendDirect services are available only for people living in Alberta, Ontario, Saskatchewan, and British Columbia. However, the company is growing fast and expanding to new locations rapidly.

The interest rate accrual is exclusively implemented on remaining debt. The annual rate is around 46,93%.

The settlement installments are not fixed. The borrowers must settle jus one payment before the due date. However, they may make extra payments to clear the remaining debt to reduce interest or access further cash advances.

Therefore, Lendirect's Line of Credit loans has a continuous term, where the applicant may keep accessing credits without reapplying until the authorized limit is maxed out.

Available LendDirect Products:

LendDirect Personal Loans: LendDirect's personal line of credit is not similar to ordinary bank products. Before approving applications, LendDirect Financial Representatives carefully analyze the salary, credit history, and other information, and the decision regarding the approval of the line of credit is completed within 60 minutes.

LendDirect offers close to $15,000 personal loan at interest rates as low as 19.99%. The applicant can then request cash advances and accept credits as a direct deposit into the chequing account until the credit limit stands.

Online Loans: LendDirect facilitates 100% paperless online applications, where applicants can get approved without an office visit. For paperless applications, applicants may submit soft copies of necessary documents online. The loan decision gets generated, once the application is verified.

Lenddirect is offering around $15k in online loans too. So applicants get all the advantages of regular personal loans even via online application.

Loan protection: LendDirect's Loan Protection plan is an insurance program that covers monthly payments if the debtor is unable to settle the loan because of unforeseen circumstances. Loan Protection Plan covers payments under circumstances such as injury or sickness, involuntary unemployment, critical health conditions, or loss of life.

If the debtor is incapable of working for 10 business days because of sickness, sudden unemployment, or injury, Loan Protection Plan may cover payments for the next 6 months or up to $2,000. If the debtor is not able to start work even after the 24 week period, another compensation is paid for $2,000 or remaining loan amount, whichever is lower.

For serious health issues the protection plan will cover 100% of remaining loan payments. Similarly, if the debtor passes away, 100% remaining settlement will be cleared.

Terms for the first loan

LendDirect line of credit does not have separate terms for first and second loans. The loan term stays continuous and the borrower can keep accessing funds without reapplying.


How long are applications considered?

LendDirect provides a lending decision the same day within 60 minutes. Applications submitted after business hours, receive their decision on the next business day.

How quickly funds can be received?

Once the line of credit is approved, the funds can be received as a direct deposit into the borrower's chequing account. LendDirect also provides quick funding via Interac e-Transfer, thanks to which applicants can receive the money within 2 hours.

Reasons for rejection

LendDirect Financial Representatives verify several documents before approval. Applicants must submit valid documents related to their residence, age, income, bank account, etc.

The application may get rejected if the documents are deep unverifiable.

An application may also get rejected if the applicant's credit history and income are deemed not sufficient enough for the applied loan.

Calculate loan payments in LendDirect

LendDirect calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

Enter the desired loan amount

100 $
15000 $
Loan term

Specify the loan term for the calculation


What to pay attention to when applying for a loan from LendDirect

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes LendDirect from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
Your comment has been added
Your complaint has been recorded
Invalid username or password
Please log in to like/dislike
Invalid SMS code has been entered
All LendDirect’s reviews by September 2022
Leave feedback

Similar companies

33 City Centre Dr #510, Mississauga, ON L5B 2N5
1 844 446 3279
TD Canada Trust Tower, 161 Bay St. 27th Floor, Toronto, ON M5J 2S1
Auto Loan Solutions
3200 Bloor Street West Toronto, ON M8X 1E1
License No. 6482091
130 Adelaide St W, Suite 3100, Toronto, Ontario, Canada, M5H 3P5.
Symple Loans
161 Bay Street, Suite 2700 Toronto, ON, M5J 2S1