• TIME IN BUSINESS: Since 2016
  • CUSTOMERS BASE: Not known
  • LOANS OFFERED: Line of credit
  • LOAN TERMS: Open-ended line of credit
  • APR: 19.99% - 46.93%

LendDirect Review [All You Need to Know in 2021]

  • TIME IN BUSINESS: Since 2016
  • CUSTOMERS BASE: Not known
  • LOANS OFFERED: Line of credit
  • LOAN TERMS: Open-ended line of credit
  • APR: 19.99% - 46.93%

Best For

An unsecured line of credit


  • Easy and simple application process
  • Getting the funds in 15 minutes of approval
  • Can be used for covering any type of expense


  • Only available in Ontario, Alberta, British Columbia, and Saskatchewan
  • High interest rate

Even financially smart people can sometimes fall a bit short with their money. So, how can you manage that situation? The answer – alternative lenders. 

Alternative lenders provide long-term and short-term loans and payday loans that can be helpful to Canadians who want to close their financial gaps. Currently, one of the best alternative lenders is LendDirect. That’s why today we’ll introduce you to LendDirect, the application process, the latest LendDirect reviews, as well as LendDirect ratings.      

What Do I Need to Know about LendDirect?

LendDirect provides a line of credit of up to $15,000. The amount can be borrowed on an ongoing basis with unlimited, no-fee cash advances. The company is mainly based online; however, it also has physical locations in Southern Ontario. 

Once LendDirect accepts your application, you’ll get an open-ended line of credit within one business day. For users who can’t wait, LendDirect offers an option to get a loan within 15 minutes.

As we mentioned above, LendDirect offers a line of credit loans. Unlike traditional installment loans, this type of “flexible personal loans” gives the borrowers ongoing access to credit without the need to go through the process of reapplying each time. These loans can be used for anything – debt consolidation, covering unexpected bills, paying for a large purchase – you name it. The minimum and maximum annual percentage rate (APR) is between 19.99% and 46.93%. 

In this review, we’ll cover:

✅ LendDirect’s services and features

✅ Loan application procedure and terms

LendDirect reviews and complaints

✅ Pros and Cons


Personal Loans Features 

According to the LendDirect reviews in Canada, the company offers a secure and quick line of credit. Here are the main features:

  • The borrowing limit amount is $15,000.
  • APR is between 19.99% and 46.93%.
  • Monthly payment depends on the loan.
  • Loan term is open-ended.
  • There is no origination fee, prepayment penalty, or returned payment fee. However, there is a late payment penalty if you miss a payment.
  • Currently, LendDirect offers a line of credit.
  • On your payment day, LendDirect will make an automatic withdrawal of the amount owed from the same account where it deposited the funds.
  • Fine Print is available for the loan.
  • The typical approval time is 24 – 48 hours.
  • Typical funding time is 15 minutes with Interac e-Transfer or 1-2 business days with direct deposit.

Loan Eligibility Criteria

Qualifying for a personal line of credit with LendDirect is fairly simple. However, you still need to meet the following LendDirect loan requirements

  • Between 18 and 70 years old
  • Canadian resident or citizen living in one of the four provinces where LendDirect service is available
  • Minimum credit score of 560
  • Minimum monthly income threshold of $1500
  • Minimum length of credit history of 3 months
  • Have a viable bank account with access to direct deposit

How to Apply for a Personal Loan with LendDirect 

As per the Lend Direct line of credit reviews, the loan application process is relatively easy and straightforward. You can apply at any time using the online application form. Here are the steps you’ll need to follow: 

Step 1: 

Go to the LendDirect website – www.lenddirect.ca and click on the button “Apply Now.”

Step 2: 

Provide an email and password and enter your personal information, including First Name, Middle Name, Last Name, Mobile Phone, Alternative Mobile Phone. In addition, there is an optional field where you can provide the purpose of the loan. 

Step 3: 

Enter your income details fr an income verification. 

Step 4: 

After you provide your personal information and income details, LendDirect will review your application and issue a decision. 

Step 5: 

If you are approved for a line of credit, you’ll be able to access the funds through Interac e-Transfer or direct deposit. 

LendDirect Reviews Canada: Pros & Cons


  • Straightforward application process
  • Funds are accessible immediately upon approval
  • Funds can be used for any type of expense


  • Not available nationwide
  • High interest rates

Privacy & Security Policy

The company handles and manages personal information in accordance with Canada’s Personal Information Protection and Electronic Document Act (PIPEDA), as well as other relevant privacy legislation to the extent required by law. LendDirect security safeguards are designed to protect your personal information against theft or loss, unauthorized use, access, modification, copying, disposal, or disclosure.

LendDirect uses industry-standard administrative, physical, and technical security safeguards and measures to protect the confidentiality and safety of your personal information. 

The current methods include:

  • Physical measures like secure filing cabinets, alarm systems, and restricted access to branches;
  • Technological measures for electronic transfers like systems running on a VPN with a firewall and 128-bit encryption;   
  • Organizational security measures like staff training, security clearances, and confidentiality agreements.  

LendDirect Reviews in 2021 & Feedback

We looked at what customers are saying about LendDirect, and here are the latest LendDirect online loans reviews we found: 

LendDirect BBB reviews give the lender 2 out of 5 stars. However, there are only 3 LendDirect customer reviews on the website, so this rating is hardly representative.

In contrast, LendDirect Trustpilot reviews are positive overall. The lender has an excellent rating of 4.7 out of 5 based on 1,141 LendDirect credit reviews.

LendDirect Personal Loans Reviews: Alternatives

As we mentioned earlier, LendDirect only offers loans in four provinces in Canada. So, what if you don’t qualify for a loan just because you are not a resident of one of them. If that’s the case, don’t worry. Other alternatives provide loans across all provinces. 

One of them is LoanConnect. LoanConnect is not an actual lender but an online platform that serves as a mediator between lenders and customers. Its services are available throughout all territories and provinces in Canada. It’s also an approved vendor of the Canadian Lenders Association.

Another option is Borrowell. As one of the top lenders in Canada, it offers a variety of financial services and free credit reports to its customers. Borrowell also comes with an exception A+ BBB rating.

Wrap Up

Overall, LendDirect is one of the few financial institutions in Canada that offer a line of credit loans. With the easy online application, you can be approved in a couple of hours and get the funds even faster. 

Another great advantage is that you can use the funds for pretty much anything you want. It doesn’t matter whether the expense is small, large, or something in between. So, whenever you find yourself looking for personal loans, you can safely turn to LendDirect, as confirmed by the LendDirect reviews


Is LendDirect legit?

Yes, LendDirect is a legitimate alternative lender founded in 2016. It comes with an excellent A+ BBB rating.   

Is LendDirect safe?

LendDirect is a safe lender, which is confirmed by many LendDirect reviews. In addition, almost all borrowers are happy with their loans as well as the customer service.

How does LendDirect work?

You can apply for a loan on the website or visit one of the company branches to apply in person. LendDirect personal loans can be used to cover unexpected or overdue expenses like college loans and home improvement repairs. 

What loans does LendDirect offer?

LendDirect offers a personal line of credit. Additionally, the lender offers loans with unlimited cash advances with no fees.