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LoanConnect review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

LoanConnect is a Canadian broker that suits borrowers with poor credit who need money quickly. A single application reaches a network of lenders, same day funding is listed, and around CAD 100, varies by lender is the extra cost to watch.

Key facts

Best for
Canadian borrowers with weaker credit who want several lenders checked in a single application.
APR
8.99% to 35%↗
Loan amount
CA$500 to CA$60,000↗
Term
3 to 120 months↗
Arrangement fee
around CAD 100, varies by lender↗
Credit check
Soft prequal↗
Funding time
Lender deposit in as little as 12 hours; funds possible the same day↗
Representative example
Total cost of borrowing a $2000 unsecured personal loan at 29.96% for 24 months is $2685.12, or $111.88 monthly↗
Rate type
Fixed↗
Lender type
Broker↗
Eligibility
Must be the age of majority in your province (18 or over) and a resident of Canada; debt payments must not total over 60% of income↗
Loan types
Personal, Debt-consolidation, Secured, Car, Business↗
Credit needed
Poor↗
Use cases
Home-improvement↗
Legal entity
Asset Direct of Canada Inc. (dba LoanConnect)↗
Headquarters
Canada↗
Support channels
Email, Help-centre↗
Pricing model
Fixed rate
Features
Same-day funding
Official website
loanconnect.ca

Mortgages

Initial rate
8.99% to 35%↗
Fixed period
0.25 to 10 years↗
Product fee
CA$0↗
Purpose
Purchase, Remortgage↗

Facts checked September 26, 2026, 5 sources

Apps and profiles

Elsewhere
trustspot.io

Pros and cons

Pros

  • poor credit is accepted and the credit check is soft prequal
  • same day funding is listed for qualifying borrowers
  • Borrowing covers personal, debt consolidation and secured alongside mortgage purchase and remortgage
  • Amounts run CAD 500 to CAD 60,000 over terms of 3 to 120

Cons

  • 8.99% to 35% sits above the 14.43% median for personal loans
  • around CAD 100, varies by lender is charged on top of interest
  • Support runs on email and help centre only
LoanConnect

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Scored 8.7 / 10 by SumCue.

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Who it suits

  • Adults resident in Canada with poor credit who need home improvement work funded quickly
  • Borrowers whose existing debt already takes a large share of income
  • Anyone happier comparing lenders in a single application than applying lender by lender

Who should look elsewhere

  • Cashspace, whose PHP 12 to PHP 36 can sit below the 8.99% to 35% on offer here
  • Sofkredit, if you would rather weigh 10.74% to 18.06% first
  • Price-first shoppers, since 8.99% to 35% and around CAD 100, varies by lender sit high

Deposit protection

Deposit protection does not apply in the usual way because LoanConnect is a broker: the money goes to the lender and is never held as a balance with the broker. The representative example shows a personal loan repaid over a fixed term, which is a borrowing cost rather than a cash holding.

How LoanConnect compares

Where LoanConnect is available

Available
Canada

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What interest rate will I pay on a LoanConnect loan?+

Rates across the lenders in the network sit at 8.99% to 35% and are fixed. The median for personal loans on the site is 14.43%, so a quote here can land well above the market. Read the offer before you accept it.

Does LoanConnect charge an arrangement fee?+

Yes, there is a around CAD 100, varies by lender on top of the interest, and the amount moves with the lender you are matched with. Applying for offers costs nothing on its own, so that lender fee is the only extra charge in the process.

What credit do I need to qualify?+

The stated requirement is poor credit, so a thin file or past arrears can still qualify. Eligibility also asks that you are an adult resident of Canada and that debt payments stay under a set share of income, which is checked before any offer.

How quickly will the money arrive?+

The listed feature is same day funding, and the broker states that a lender can deposit the same day. Timing sits with the lender rather than with LoanConnect, so it depends on how quickly the matched lender processes the file.

What kinds of loan can I arrange?+

The categories covered are personal, debt consolidation and secured, priced at a fixed rate. home improvement is the use case given, and the mortgage side covers purchase and remortgage for buying a home or switching an existing one.

Is LoanConnect regulated, and is my money protected?+

LoanConnect is a broker, so offers come from the lenders in its network and no money sits with the broker. Ask the matched lender which regulator and which protection scheme cover the loan before you sign anything.

How much can I borrow and for how long?+

Amounts run CAD 500 to CAD 60,000 over a term of 3 to 120, so short and long schedules both exist. Larger sums may need a secured loan or the mortgage route rather than a standard personal loan.

How do I reach support if a payment date is tight?+

Help is offered through email and help centre, which means a self-service help centre and email. Phone and live chat are not among the listed channels, so a query about an urgent payment has to go in writing.

Sources

  • loanconnect.ca checked September 26, 2026

    Backs: Loan amount, APR, Features, Fixed period, Headquarters, Initial rate, Pricing model, Rate type, Representative example, Term

    “Borrow between $500-$60,000”

  • loanconnect.ca/about-us checked September 26, 2026

    Backs: Credit needed, Use cases

    “Poor Credit Loans: Individuals looking for poor credit loans, who would like to be approved at a competitive rates”

  • loanconnect.ca/faq checked September 26, 2026

    Backs: Credit check, Eligibility, Funding time, Loan types, Arrangement fee, Support channels

    “you are asked to agree to a soft credit check. This soft check does not affect your score, and is not visible to any lenders”

  • loanconnect.ca/mortgage checked September 26, 2026

    Backs: Purpose

    “Be advised, if a borrower is looking to refinance/switch their mortgage, the maximum amount they can borrow is 80% of the value of their property.”

  • loanconnect.ca/terms-of-use checked September 26, 2026

    Backs: Legal entity, Lender type, Product fee

    “a binding legal agreement between You ... and Asset Direct of Canada Inc. ("ADC")”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

LoanConnect

LoanConnect

Canadian borrowers with weaker credit who want several lenders checked in a single application.

8.7/10See alternatives