LightStream, the personal loan arm of US bank Truist, is a direct online lender with some of the lowest interest rates on the US market. Under certain conditions, the company will beat lower rate offers by 0.10%. With this perk, LightStream is a go-to choice for Us borrowers with great credit scores.
Unfortunately, LightStream loans aren’t available in Canada. Here’s a list of alternative Canadian lenders.
This completely free platform lets you compare offers from multiple lenders with just one application. Get matched with suitable loan providers from among Loans Canada's network of partners. Both good and bad credit applications are accepted.
Another loan search platform, LoanConnect helps you narrow down your search for lenders via a single application. Apply online in minutes. If approved, you can receive funds within 24 to 48 hours.
Have trouble getting a loan from your local bank? Spring Financial might be an option. The lender works with those who don't meet lenders' usual income or credit score requirements, and you can apply entirely online.
High-risk applications are okay
Flexible loan amounts from $500 to $35,000
No early repayment fees
Interest rates of up to 46.99% for bad credit
You may be offered a credit builder loan (The Foundation loan) instead of a personal loan
Vancouver-based Mogo provides loans of up to $35,000 to can provide a no-obligation quote in minutes at no cost and without impacting your credit score. Create an account and get pre-approved in several minutes. You can borrow as little as $500 or as much as $35,000. If you change your mind after getting funded, you can return the principal within 100 days and get back any fees and interest you've paid.
Like Spring Financial, easyfinancial lends to good and bad credit applicants, offering both secured and unsecured funding. Apply online in minutes, and receive funds the same day if you're approved. Get a 2% rate reduction if you apply with a co-applicant.
Fast application, approval and funding
Secured and unsecured loans
2% rate reduction with a co-applicant
Low or no credit is okay
Steep rates for bad credit
Extra fees for optional services (i.e. loan insurance and Credit Optimizer)
Loan amount
$500 – $100,000
APR
9.99% – 35%
Term
9 - 240 months
Min. credit score
300
Fees
you may come across non-sufficient funds fees, late payment fees, missed payment fees or admin fees
Backed by Fairstone Bank, Fig offers loans to borrowers with good to excellent credit. Apply online for instant pre-approval, and get funded within two business days. Fig loan repayments are flexible. Choose to make payments on a weekly, bi-weekly or monthly basis.
Easy online application
No collateral required
Flexible payment options
No early repayment fees
Pre-qualification offers are valid for 7 days
Takes up to 2 business days to receive funds
Fair or bad credit may not qualify
Loan amount
$2,000 – $35,000
APR
8.99% – 24.99%
Term
24 - 60 months
Min. credit score
700
Fees
NSF fee: $45
Turnaround time
Up to 5 business days
Serviced provinces
Alberta, British Columbia, Manitoba, New Brunswick, Northwest Territories, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan
Bypass traditional banks and credit lenders and borrow from private investors through goPeer, a peer-to-peer (P2P) lending platforms. The Canada-based company works with borrowers who have good to excellent credit. It's easy to apply online, and your personal information is kept anonymous. Funders only see your loan details and credit risk information. Plus, there's no fee for paying off your loan early.
Borrow from fellow Canadians
Apply anonymously
15-day grace period for unexpected events
No prepayment penalties
700+ credit score required
Rates as high as 34.99%
Origination fee
Loan amount
$1,000 – $35,000
APR
8.99% – 34.99%
Term
36 or 60 months
Min. credit score
700
Fees
Variable origination fee (included in APR) Unsuccessful payment fee of $50 No application or prepayment fees
Turnaround time
Response within 24 hours
Serviced provinces
All of Canada
How does LightStream compare?
LightStream has some of the most competitive rates available, but only for those with good to excellent credit. But the company gets many negative customer reviews online. Here are the main pros and cons of getting a LightStream loan. Learn more about personal loans here.
Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family. See full bio
Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio
Kat's expertise
Kat has written 12 Finder guides across topics including:
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
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