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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 pay off


Repayment of loan

Anyone repaying a credit card debt may easily understand LendDirect's repayment system because their credit works similarly. Once the remittance is accomplished through direct deposit, a due date gets generated. After this, the debtor must send the minimum settlement before this date. The balance is still available for withdrawals. Every month the debtor may make just one settlement to return the minimum amount or make multiple settlements to settle the principal loan faster.

Loan extension

LendDirect issues financing as a line of credit. Therefore, loan extensions are out of the picture. Debtors may request cash advances till the authorized credit limit is maxed out and more money is available for direct deposit as they clear their principal balance.


How to find out the remaining balance?

To find out the remaining balance, you can log in to your online LendDirect account or contact the customer service by phone 1-855-630-5363 or email, or fill in the Contact Form available on the official website.

What to do if the payment has failed?

If a transaction has failed, you may contact with LendDirect customer support via phone/email, or fill in the Contact Form on the official website.

Early repayment

With LendDirect, borrowers get the benefit of early repayment without any additional charges. Any payment made above the minimum payment gets adjusted with the principal balance.

Once the debt is cleared entirely, the account can be kept open with zero balance for up to 1 year.

Is it possible to arrange a loan restructuring?

The line of credit doesn't require any restructuring as it has no monthly installments. The debtor just has to make a settlement for the minimum due on a monthly basis, and the balance will be carried forward for the next month.

What to do if I missed the payment?

If the minimum amount is not repaid before the monthly due date, the account gets placed in past-due balance. However, if you already know that you'll miss payments because of a valid reason, then you may call LendDirect by phone 1-855-630-5363 or send an email at in advance and discuss payment-related options.  

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.
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