LoanConnect
4.4
/5
Canada's loan search engine — compare offers from a network of lenders in as little as 60 seconds, with no impact on your credit score.
Loan amount
$500 – $60,000
APR / Rate
8.99% - 35%
Funding speed
Offers in ~60 seconds; funds in as little as 12–24 hours
Min credit score
None — all credit scores accepted (soft check to apply)
Overview
LoanConnect is a Canadian loan marketplace founded in 2016 and headquartered in London, Ontario (their about page lists 379 Dundas St; some reviews still say Toronto). It is not a lender: it's a search engine for personal loans that matches a single application against a network of Canadian lenders and returns pre-approved offers, typically within 60 seconds. Named partner lenders include Spring Financial, Fairstone, Mogo, LendDirect, and easyfinancial. It's BBB-accredited with an A+ rating and holds a ~4.6/5 TrustScore.
How it works
- Fill out one online application (soft credit check only — no score impact and lenders can't see it).
- Receive personalized offers from matching lenders, up to $60,000.
- Pick an offer and complete the formal application on that lender's site (this is when a hard check happens — you're notified first).
- The chosen lender funds you directly, in as little as 12–24 hours, sometimes same-day. LoanConnect never handles the money.
Eligibility
Age of majority in your province (18–19), Canadian citizen or permanent resident. All credit profiles accepted, including past bankruptcies and consumer proposals (through specific partner lenders). Existing debt is fine as long as debt payments don't exceed 60% of income.
Rates & fees
Unsecured and secured personal loans of $500–$60,000, terms of 3–120 months, fixed APRs from 8.99% to 35% depending on credit. Auto loans start as low as 4.99% (72–84 month terms). LoanConnect itself charges borrowers nothing — it earns a flat referral fee from lenders. Lender-side origination fees (~$100 typical) get built into quoted payments, and administration/insurance fees vary by lender and province.
Pros & Cons
Pros
- One application, offers from an entire lender network in as little as 60 seconds
- No credit score impact to compare offers (soft check only)
- All credit profiles accepted, including bankruptcies and consumer proposals
- Free for borrowers — lenders pay the referral fee
- Funds in as little as 12–24 hours from the chosen lender
Cons
- Not a lender — final rate, terms, and funding depend on the third-party lender you pick
- Borrowers with poor credit will see offers near the 35% APR ceiling
- Lender origination and admin fees vary and are only visible per-offer
- Completing an offer still requires a hard credit check with the lender
We may earn a commission if you apply through links on this page. This doesn't affect our editorial assessment or the rates you receive.
LoanConnect is a loan search and comparison service, not a lender, and never disburses funds directly. Loan agreements and funding are between you and the lender you select. APRs range from 8.99% to 35% based on your credit profile; repayment terms range from 3 to 120 months. A representative example and full terms are presented by the lender before you accept any offer. Origination, administration, insurance, and other fees vary by lender and by province/territory. Checking your offers through LoanConnect uses a soft credit inquiry and does not affect your credit score; completing an application with a lender will involve a hard inquiry.