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LendDirect Personal Loans Review
23 Aug 2018

LendDirect Personal Loans

LendDirect personal loans is a way for you to obtain a personal loan when tradition banks and payday loans have what you need. They are a loan company that offers you the personal loans you need when you need to have cash quickly. LendDirect personal loans can provide you a loan when you believe that you won’t qualify. You might be interested in a personal loan when you encounter situations that require the need for cash within a reasonable amount of time that surpassed the usual wait times.

The loan application is 100% online and can provide you with loan amounts up to $15,000.

You are interested if

You are a consumer seeking a small- to mid-range loan and have a decent credit score. You want a loan that is proportional (in both total amounts and interest rates) to your credit history and ability to pay it off.


Key Points

Brief Description Lend Direct loans has personal loans for anyone who doesn’t qualify for traditional bank loans.
Limits and Deadlines Applicants can borrow anywhere from $500 to $1,500 in installment loans with complete control over repayment. As long as you have a balance, you will be repaying the loan.
Urgency As long as all your documents and credit check pass, you can get same date e-transfers or next day bank deposits of your loan.
APR Range They do not specify their interest rates, though they generally fall into the 46.93% area.  Your credit check and income is the determinant of your interest rate.
Closing/Origination Fees There are no closing or originating fees that you need to be concerned with as all fees are explained upfront.
Early Payment Fees None; pay back your debt as early as you’d like.
How to Contract the Product You can head over to the Lend Direct website to get in touch with them. They do have an email address that you can email them at and a phone number where you can call for more information.
Main requirements To apply, you must have an income of at least $1500 per month, have a valid Canadian bank account able to take direct deposits, be free of bankruptcies or delinquencies, and pass the credit check. You must also submit either two pay stubs or three months’ worth of banking statements as proof of income and you must also submit to online credit and identity checks through LendDirect.

About LendDirect Personal Loans

Main Features

Being neither for those in a lower income bracket or those who are in a higher income bracket, LendDirect personal loans can be better described as a company that caters more to the middle class. This is the ideal market for their loans as more and more middle-class people are finding that they need the occasional loan to bridge gaps in their budgets. They carry an extensive range of lending options that come with highly flexible terms in amounts, repayment and interest rates. There is the potential for an ideal candidate to have a solution to their financial dilemmas. There aren’t that many lenders who have the flexibility that is offered by LendDirect, which gives them the competitive edge in the financial market.

Despite all the great qualities you can find with LendDirect, they still have some work to do in order to expand into a more diverse market. This is due to the fact that applicants have to have a fair credit score along with a minimum income level before they can even consider LendDirect as an option. This makes the possibility of anyone else getting a good deal out of reach for them because bad credit luck and less income, though regular, takes you out of the running for any of their loans. Unfortunately, this makes the loans more achievable for those already in a decent financial status to get and less achievable for those who aren’t. Your credit will more than likely improve with a personal loan and regular payments, your past financial issues can still be a barrier in regards to using LendDirect personal loans as your potential lender.

The repayment method is fairly straightforward as there are options for making payments. The primary way they collect payments from you is by setting up automatic payments from your bank account that will be taken the morning of each payment date. You will have no direct control over these payments, but you do have control over how many additional payments you make and how you make them. This stipulation has been put in place to make sure at least the minimum payments get made with the option to make additional payments at your own discretion. This being what it is, makes it easier for you to not have to worry about remembering to make your payments, but the bigger issue is if you lack the funds to make these payments on any given day. Then you are going to attain additional interest fees from LendDirect and the possibility of a fee from your bank as well. Any additional fees for missing payments is at the discretion of LendDirect. You should be aware that making payments on time is more ideal for you and your credit as they do report your payments and lack of, to the credit bureau.

Additionally, LendDirect has a few unique features that make them different from other lenders. There is the option to check your credit score for free through them and they offer a variety of personal financial options for you. LendDirect is customer focused with a line of credit option for personal loans rather than an actual “loan”. As such, the repayment is very flexible with no maximum term, it’s simply if you have a balance, you continue to pay. It’s that simple and something that is a unique feature of LendDirect against their competitors.

More than that, LendDirect personal loans do offer less interest when you make additional payments beyond the recommended regular payments. This can help you by keeping more money in your pocket rather than giving it up in interest rates to the company. It is a great way for you to keep your money in your account rather than continually not reap the benefits of it because it is swindled away in interest charges.

How Does It Work?

LendDirect personal loans are quick and simple with an online process that makes it efficient for those who don’t want to spend hours applying for a loan. You simply take five minutes of your time to fill out the online application and submit to the required bank and identity checks that are fully secure and only offer confirmations of the information you have already provided. Your application will be processed as soon as they receive the required feedback to your checks. After receiving the lending decision that includes the amount of your loan and all associated fees and rates, you can then receive your funds by the method of your choosing. You can get it in as little as 2 hours through an interact e-transfer or within 24 hours via a direct bank deposit. This also depends on what time of day you fill out the loan application. You cannot utilize the e-transfer option if you applied for your loan near the end of the business day.  As you pay down the balance of your loan, you will have the option to get additional cash advances up to your approved credit rating. This is a continual option for you as long as you have an open account with LendDirect personal loans. Additional options regarding your loan are to get a loan protection option to help you in the event that your financial situation changes and it becomes difficult for you to make your regular payments. This is a highly recommended option because it will also protect your credit from receiving any damages due to misfortunes.


LendDirect personal loans are dependable, comprehensive and relatively painless solutions to most of the money problems encountered by the average Canadian. Their rates can be some of the lowest available from online lenders if you qualify for their best possibilities. Those rates are also highly transparent and hide no extra fees, so you’ll have all the necessary information to make a smart decision about whether to take the loan when you receive your free quote. The entire process is very user-friendly and for the most part, mimics what you might find in a typical bank’s lending process.

Even those with lower credit scores who will not be granted access to the best of what LendDirect personal loans have to offer may find it easier to work toward better credit with the company’s support and resources behind them. However, those starting from a truly vulnerable credit position will have to start their financial transformation elsewhere due to the credit score restrictions on loans.

LendDirect: A Contender for Personal Loans on the Market

LendDirect personal loans have quickly made their name known across the Canadian market. They have helped thousands of Canadian achieve the financial security they have been looking for. Since they have no specific term for their loans, they are the ideal lender for those who aren’t certain of their up-coming financial obligation. The main focus of LendDirect is offering you affordable lines of credit to help you when you need it. Having established themselves as a reputable authority in the credit world, they desire to make it attainable for you to improve your credit score over time through the flexible use of their lines of credit. Having established themselves with a strong foothold in the Canadian loaning market, there is potential for them to continue to expand well into the future with their constant visionary thinking.

What We Think

LendDirect is an established and familiar presence in the loan industry, so if being a well-known company that has public recognition is something that matters to you, this company can be a decent choice for your lender. They can also offer a decent range of loan amounts that you might otherwise have difficulty coming up with. Their $15000 top lending amount can be difficult to achieve without the aid of multiple lenders. If you think there is potential that you would want to borrow again in the future, it can be worth your time to borrow from them as LendDirect personal loans will have established a history with you and built familiarity on the whole loan process with you. Borrowing from the same lender again will put you in a more favorable light as they already know they can count on you.

Being a lender that focuses on credit, they may have difficulties catering to other potential customers who may need LendDirect personal loans. Having a tarnished credit history can put a hindrance on your ability to borrow from LendDirect personal loans as they prefer to lend to those with fairly decent credit scores. This will make them a poor choice for those who don’t have the same history that their peers have. There is also the fact that there is no set term, might turn off those who are looking to have regular stable payments for a period of time.

Overall, LendDirect personal loans is an ideal lender for when you are looking for personal loans. do offer you a solution that is immediate with no real wait period between application and the arrival of funds. No matter what financial need you may have, their loans have no strings attached. Once the money is in your hands, you can do with it as you desire for whatever reason you might have wanted the money for.  For anyone with less than stellar credit and with a verifiable income that is the realm of their accepted sources, this is a great alternative for you to get quick cash to help you out of a sticky financial situation