Updated September 28, 2026 · SumCue Editorial Team
Borrowell vs Lendela
Borrowell
Higher score in this comparison
Lendela
Where Borrowell and Lendela differ
| Compare | BorrowellReviewVisitVisit | LendelaReviewVisitVisit |
|---|---|---|
| APR | 0% | up to 48% |
| Loan amount | CA$500 to CA$50,000 | SGD 1,000 to SGD 200,000 |
| Term | 48 months | 3 to 72 monthsHigher |
| Credit check | Soft prequal | None |
| Funding time | Usually within a matter of days of approval by loan partners | Around 1-2 days from application to disbursement; some within hours |
| Eligibility | Canadian citizen or permanent resident, age of majority in province of residence; loan applicants 18+ | Age 21 or older; Singapore citizen or PR (foreigners also considered, higher income threshold); min annual income SGD 20,000-30,000 citizens/PR |
| Loan types | Personal, Debt consolidation, Business, Car | Personal, Debt consolidation, Business, Secured, Student |
| Credit needed | Poor | Fair |
| Arrangement fee | Not confirmed | SGD 0 |
| Representative example | Not confirmed | Personal loan: $20,000 at APR 6.95% over 5 years, total payable $26,940, monthly cost $449 |
| Free early repayment | Yes | Not confirmed |
Same on both: Lender type (Marketplace), Use cases (Home improvement).
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Key differences
- Borrowell scores higher overall: 8.9 vs 8.5.
- Founded is lower at Borrowell: 2014 vs 2018.
- Lendela is available in 1 more country.
- Term is higher at Lendela: 3 to 72 months vs 48 months.
- Support channels: only Lendela offers Phone.
- Loan types: only Borrowell offers Car.
- Loan types: only Lendela offers Secured, Student.
Our verdict on each
Borrowell
Borrowell suits Canadians who want a single place to compare personal loan offers, check a credit score without a fee and rebuild a thin credit file. Loan sizes run CAD 500 to CAD 50,000 through a marketplace, and the credit builder term is 48 at an APR of 0%.
Lendela
Lendela suits Singapore citizens and permanent residents who want a personal loan with no credit check and an origination fee of SGD 0. Borrowing covers SGD 1,000 to SGD 200,000 over terms of 3 to 72, and rates can reach up to 48%, the number to weigh before you apply.
Score breakdown
| Area | Borrowell | Lendela |
|---|---|---|
| Cost | 9.5An annual fee of CAD 0 on the score service and a credit builder APR of 0% mean the cost side is light. | Not confirmed |
| Offer | 9.1HigherA marketplace matching personal, debt consolidation and business and a stated credit profile target of poor widen the choice. | 9.0marketplace lending, fair credit record and none credit check, so offers come with light entry conditions. |
| Trust | 8.4Higher | 8.2 |
Positions in our rankings
| Ranking | Borrowell | Lendela |
|---|---|---|
| Loans | 122 of 2043 | 79 of 2043 |
| Personal loans | 103 of 1317 | 66 of 1317 |
| Mortgages | 12 of 853 | 6 of 853 |
Where each is licensed and available
Additional countries for Borrowell: 1. Additional countries for Lendela: 2.
Every fact side by side
| Fact | Borrowell | Lendela |
|---|---|---|
| Pricing model | No annual fee | Not confirmed |
| Features | Not confirmed | Same day funding, Credit line |
| Legal entity | Borrowell Inc. | Lendela Pte. Ltd. |
| Headquarters | Canada | Singapore |
| Founded | 2014Lower | 2018 |
| Support channels | Email, Help centre | Email, Phone, Help centreCovers more |
Credit cards
| Fact | Borrowell | Lendela |
|---|---|---|
| Annual fee | CA$0 | Not confirmed |
| Perks | Free weekly Equifax credit score and report monitoring, Free credit report download, Credit score checks that do not hurt your score, Free credit improvement tips and education, Personalized product recommendations from 75+ partners, Bank level 256 bit encryption security | Not confirmed |
Mortgages
| Fact | Borrowell | Lendela |
|---|---|---|
| Initial rate | Not confirmed | 2.4% |
| Product fee | Not confirmed | SGD 0 |
| Purpose | Purchase, Remortgage, First time buyerCovers more | Purchase, Remortgage |
Where each stands against the rest
| Fact | Borrowell | Lendela | Median |
|---|---|---|---|
| APR | 0%lowest quarter | up to 48%highest quarter | 9.99% |
| Term | 48 monthsbelow the median | 3 to 72 monthsabove the median | 60 months |
Median across 1096 listed providers.
Pros and cons
Borrowell
Pros
- Free weekly Equifax score and report monitoring, a free credit report download and score checks that do not hurt a file, all in Free weekly Equifax credit score and report monitoring, Free credit report download and Credit score checks that do not hurt your score.
- A spread of personal, debt consolidation, business and car loans (personal, debt consolidation and business) with amounts of CAD 500 to CAD 50,000.
- Free early repayment on credit builder loans, so a thin credit file can be cleared sooner without paying an extra charge.
Cons
- Support runs on email and help centre only, so there is no phone line to chase a partner lender.
- Borrowell is a marketplace (marketplace), so the rate and the approval belong to the partner lender.
- Funding lands Usually within a matter of days of approval by loan partners, so it is not a same day fix for an urgent bill or an emergency repair.
Lendela
Pros
- An origination fee of SGD 0 on personal loans, so no charge for setting the loan up.
- Purpose covers personal, debt consolidation and business, and home improvement is a stated use.
- Money often moves quickly: a few days from application to disbursement, and some within hours.
Cons
- The rate ceiling is up to 48%, well above where most borrowers start.
- Support runs on email, phone and help centre only.
- Applicants need a minimum age, Singapore citizenship or permanent residency, and a minimum annual income, with foreign applicants held to a higher income bar.
Who each suits
Borrowell
Who it suits
- Canadians with a thin credit file, since the stated credit profile target is poor.
- People borrowing for home improvement work or to consolidate debt, at amounts of CAD 500 to CAD 50,000.
- Applicants who are a Canadian citizen or permanent resident and meet the age of majority in their province.
Who should look elsewhere
- Not Cashspace: its rates of PHP 12 to PHP 36 are set in Philippine pesos for another market, so it does not serve a Canadian borrower.
- Not Creduma ES for anyone who wants to borrow in euros, since its amounts start at from €12,000.
- Not Sofkredit, whose rates of 10.74% to 18.06% belong to a Spanish market and currency.
Lendela
Who it suits
- Singapore citizens and permanent residents with a fair credit record who want to borrow without a credit check.
- People consolidating debt or planning home improvement, both common reasons to borrow here.
- Borrowers who prefer a marketplace where lender quotes sit side by side.
Who should look elsewhere
- Borrowers chasing the lowest rates, who will find Cashspace quoting PHP 12 to PHP 36.
- Euro borrowers, since Creduma ES lists from €12,000 and Lendela works in Singapore dollars.
- Anyone wanting a rate band with room at both ends, since Sofkredit quotes 10.74% to 18.06% against the capped up to 48% here.
Current offers
Borrowell
Current offer
Bonus
Credit Builder cash back rewards on select Marketplace products
Credit Builder account in good standing with first payment made; eligible third-party product successfully acquired; valid email on file; minimum redeemable balance $20; rewards paid in CAD
Source, checked September 26, 2026
Country by country
| Country | Borrowell | Lendela |
|---|---|---|
| Canada | Yes | No |
| Hong Kong | No | Yes |
| Singapore | No | Yes |
Questions about each
Borrowell
Is there an annual fee for the Borrowell credit score service?+
The credit score service carries an annual fee of CAD 0, and the model is no annual fee. Weekly Equifax score and report monitoring, a report download and credit improvement tips all sit in Free weekly Equifax credit score and report monitoring, Free credit report download and Credit score checks that do not hurt your score.
Who actually lends the money?+
Borrowell works as a marketplace (marketplace) run by Borrowell Inc. in Canada. Approval and funding sit with the loan partners, and money usually arrives Usually within a matter of days of approval by loan partners rather than the same day an application goes in.
Lendela
How much can I borrow, and for how long?+
Lendela covers SGD 1,000 to SGD 200,000, with terms of 3 to 72. Features listed include same day funding and credit line, so a credit line is an option for anyone who would rather draw money down gradually than take the full amount at the start.
What rate will I pay?+
Rates at Lendela run as high as up to 48%, well above the 15.5% median for this category. The published representative example is much kinder, pairing a modest rate with a multi-year term, so treat the ceiling as the worst case rather than the expected outcome.