LoanConnect Review

LoanConnect Review: Canada’s Best Online Personal Loan Search Engine

This post may contain affiliate links. I may receive a small compensation when you click on such links at no cost to you. Read my disclaimer for more info.

Last Updated on January 7, 2022 by Yetty Akindele

LoanConnect prides itself to be Canada’s premier online loan search engine that makes it easy for Canadians to access personal unsecured loans. These can be used for a wide range of purposes.

A recent survey carried out by BDO has shown that more than half of Canadians are living paycheck-to-paycheck.

Of this, about 35% deal with emergencies by taking out a payday loan. The lure of payday loans might seem enticing due to the ease of getting approvals as well as the financial pressures faced by most people at the time of applying for the loans.

However, the debt accumulation by way of APR could be crippling. A payday loan on average has an annual interest rate of 442%. This translates to a $170 interest on every $1000!

This is so far off from the annual interest rate charged on Personal loans which by law in Canada should not exceed 60%.

Loan approvals can be exasperating, and the entire process could aggravate financial anxiety. This is more true as most people who need loans result to this method of getting money when there is no other option available.

For most people, a bank loan is the first point of action. However, factors such as poor credit could contribute to them not being approved for bank loans. 

This is the gap that LoanConnect is set to bridge- a mediator between you and lenders for the purpose of ensuring that your financial needs are met. 


Established in 2016, LoanConnect is a company that came into existence with the sole purpose of helping Canadians to access loans at competitive rates regardless of their credit ratings.

LoanConnect is Canada’s leading personal online loan search engine that enables customers to search for desired loans offered from various Canadian lending organizations.

It is a middle ground between lenders and applicants that offers users a vast choice of lenders to borrowers.

This innovative search engine provides you with unsecured personal loan offers tailored to your needs in as little as 5 minutes. 

Loans offered are also at reasonable annual interest rates when compared to payday loans.

Intending to provide Canadians with an easy solution for their loan needs, LoanConnect is a reliable go-to website for all those who are struggling to get finance from most other Canadian lending organizations. Notably Canadian banks.

This company has built an exceptional online-lending experience where they provide Canadian consumers with a combination of certified credit options.  

They also provide excellent customer service making loan applications and approval experience a breeze!

The best part about LoanConnect is that it offers loans to people with bad or poor credit. It will cater to borrowers from all over the country.

You just have to fill out an application and see who is willing to lend to you. Remember, with better credit scores come more chances to find lenders with attractive interest rates.



LoanConnect offers access to loan amounts from as little as $500 to a maximum of $50,000. Loan term ranges between 6 to 60 months, with rates ranging from 10% APR to 46.96% APR.

You should know that the website connects you to lenders and doesn’t actually provide you with loans. 

If you plan on constructing a lavish kitchen or want to take a much-needed vacation. LoanConnect is available to help with accessing funds. 

Despite the fact that these are not common requirements that people take out loans for, in general, LoanConnect is all about helping people fulfill their financial needs at desirable rates.


LoanConnect doesn’t offer a collection of financial products. Instead, it offers different loan options that have a set of requirements to be fulfilled. Altogether termed as LoanConnect Products.

This company is an easy way to compare different loan options in Canada- in one sitting. Regardless of your credit score, all they need to do is estimate your score and connect you with lenders accordingly.

LoanConnect offers almost every type of loan, from loans that cover medical expenses to loans that give you fast cash and allow you to pay off other expenses, it has various loans to satisfy the needs of a diverse range of consumers.


Personal Loans 

LoanConnect is the go-to solution for personal loans. By associating with various Canadian lenders, it makes sure that you get a pre-approval in as little as 60 seconds with access to funds within 24 hours following approval.

Personal loans are unsecured and are paid back monthly. These loans typically have a lower interest rate compared to credit cards. 

Rates are determined by the lenders subject to your creditworthiness. The higher your credit score, the better your chances of getting lower rates.

Generally, a Canadian credit score of 650 and above will get you the best rates available with the big lenders. You should also have a healthy debt-to-income ratio.


After filling out an application on LoanConnect, multiple loan offers are presented to you within seconds. For this, you will have to follow four steps:

  1. Apply – Either at home or the office, apply for a loan from anywhere.
  2. Pre-Approval – By entering the required details, you’ll be pre-approved in 60 seconds.
  3. Choose Your Loan – Out of a multitude of loan options, pick one that fits your needs.
  4. Get Your Cash – As soon as you select a lender of your choice, you will receive your cash within 24 hours.

What Types of Loans are Available On LoanConnect?

  • Bills and Expenses
  • Car Purchase
  • Medical Expenses
  • Debt Consolidation
  • Business Startup/Growth
  • Home Improvement
  • Credit Cards Payment
  • Wedding Expenses
  • Item Purchase
  • Credit Rebuilding
  • Student Loan
  • Vacation expenses


Cash Loans

LoanConnect collaborates with private lenders and provides cash loans at the best rates. They help find loans from $500 to $50,000 from their database and put forward the best options for consumers.

Cash loans are a type of loan that offers cash that can be utilized for anything you need or want. Unlike item-specific loans, cash loans do not have restrictions on how the money needs to be used.

However, cash loans are short-term loans, ranging from 6 to 60 months, and need to be paid back on time.  

Like I stated earlier, the interest rates for cash loans are decided by the lenders and depend on your credit history. The primary guidelines for the interest rate include;

  1. The prime rate
  2. Add to the prime rate (1.5%)
  3. Adjust for credit rating

Online Loans  

LoanConnect makes it easy to get online loans with the best terms and the lowest interest rates that suit your needs. Additionally, applying on LoanConnect assures that you get the fastest payments.

Online loans can be utilized for anything, unlike an auto loan or mortgage. More importantly, online loans are good in emergencies because the money is simple to get and is delivered within 24 hours.

Bad Credit Loans 

Many Canadians with bad credit struggle with getting approved for loans. As a result, most are under the false impression that getting loan approval from any lender will be next to impossible.

However, this is not so. With bad credit, you might face paying higher interest rates, but still, there are a variety of loan options available to you from private lenders. 

It still requires a minimum credit score of 550 to qualify and a connection with the right platform. 

LoanConnect, conveniently solves this issue. The good news, people with bad credit can apply for a loan and get offers as applicable.

Debt Consolidation

Certain situations for people with bad credit or multiple debts might not warrant just taking a loan to meet your short-term needs.

Sometimes, you might have to decide if a loan application is the best option for you as this could lead to a pile-up of debts.  

Debt consolidation through a debt management program could be a more viable alternative. This is more true if your having bad credit is due to accumulated debts that have become overwhelming. 

LoanConnect offers this option and you might be better off applying for their debt consolidation service.


LoanConnect has a friendly user interface that is easy to navigate. To get started;

  1. Go to the LoanConnect webpage and click on the green “Find a loan” button or the red “Apply Now” button. 
  2. Customize your loan according to your needs, regardless of your credit score. You can get pre-approved for up to $50,000 in 5 minutes.
  3. Choose your loan term anywhere from 6 to 60 months, with rates as low as 10% APR. You will be connected to multiple lenders and their offers in under a minute by filling out a form through three different steps;

Step 1

Requires filling out your contact information. This aids in confirming your identity and to match you with lenders within your area.

Make sure that the information you have provided is accurate so that lenders that partner with LoanConnect may provide loans accordingly.

Step 2

Requires information about your financial situation. This includes your citizenship status, employment status, housing status, annual income, credit score, etc.

In case you do not know your credit score, you can use the drop-down arrow to estimate your score. For a more accurate answer, check your credit score for free here.

This information is gathered to determine your qualification status and quickens your loan approval process.

Step 3

Here comes the standard confirmation box. Read and agree if applicable to all terms and privacy policies of LoanConnect.

Click “Submit” and within a matter of minutes, you will be able to see the list of lenders and loan options that are available to you.

If you just want to have an idea and are not actually looking for pre-approvals, simply click on the option “Just look for a Loan” button. It will direct you to the lenders and loan amounts you qualify for.

The options will be presented in a chart form so that you can easily carry out your comparisons. 

Comparison can be based on maximum loan term, APR, whether or not you are pre-qualified for it, and the monthly payments that will be required. 

Make a suitable choice after critical evaluation. Click on the offer which interests you, and it will take you to the lender’s website. This is where you will have to answer some other questions to finalize your loan proceedings.

Depending on which lender you chose to deal with, the money for your approved loan will be deposited in your bank account within 1 to 3 days.


Like all other lending platforms, LoanConnect also has eligibility criteria for loan applications. These are;

  1. You must be a citizen of Canada or a Permanent Resident.
  2. Be the age of majority in your province of residence. 
  3. Since LoanConnect offers options for people with poor credit, the only condition required for you to meet is that your debt total shouldn’t be more than 60% of your income.
  4. Have a job or own a home.

So, if you meet all these mentioned criteria, you certainly qualify for a LoanConnect loan application.



Below are some facts I absolutely love about LoanConnect.

  • Accessible throughout Canada
  • Dedicated customer service agents
  • Loans available for all credit scores; from good to bad credit
  • No effect on your credit score
  • Offers various types of loans
  • Partners with verified lenders
  • Annual percentage rates starting from 10%


Although there are certain things you should be aware of.

  • Higher interest rates may apply
  • The number of lenders compared is limited to only those in partnership with LoanConnect.


There are absolutely no reasons why you shouldn’t go with LoanConnect. It has proved to be a one-stop solution for many different qualification issues that people usually encounter when applying for a loan.

The positive outlook is that you get access to offers from anywhere at any time.

LoanConnect is also free to use and doesn’t create restraints for those who have bad credit scores.

So, if you experience any of the following conditions, it is viable for you to use LoanConnect;

  1. If you need a personal loan as a matter of emergency.
  2. You have poor/bad credit and want to get a loan offer or make use of debt consolidation.
  3. If you want to compare different lenders who are willing to provide you with a loan that suits your needs.
  4. You can abide by the requirements set by the lender.



When using online platforms for applying for loans, the first and foremost concern most users have is security.

However, LoanConnect is equally concerned about security and therefore utilizes present-day security to ensure the safety of your information.

The information is shared through an encrypted channel with only lenders that match your needs. Additionally, the information is only accessible by the lender at that specific time.

Many consumers find LoanConnects’ services and products to be very useful and highly professional. Working with legit and verified lenders adds more to the credibility of LoanConnect.

LoanConnect gained accreditation with the Better Business Bureau (BBB) in 2018. With an A+ rating.


LoanConnect neither provides loans itself nor charges any extra amount for connecting you to lenders. They make money by being paid a flat fee by lenders for every successful Loan application made through their platform.


LoanConnect is a portal that enables you to compare different lenders and carefully weigh out which option works best for you.

With everything in one place, you will save yourself the hassle of wandering around looking for lenders and filling out a sizable number of forms for loans. 

Not forgetting that every loan application through most other means could warrant a credit file check which could affect your credit score. This is not the case with applications on LoanConnect.

LoanConnect provides Canadian borrowers with an unsecured personal loan at the best rates and terms- for applicants with either bad or good credit. 

LoanConnect is an easy to use platform that makes your loan application experience free, fast, and pain-free.



LoanConnect is that online search engine for unsecured personal loans in Canada at some of the best rates. As a plus, LoanConnect has made it easy for people with bad credit to access loans the easiest way possible. It is a stress-free avenue to accessing funds- fast!

Leave a Comment

Your email address will not be published. Required fields are marked *