iCash
Nov 12, 2025
7.1
7.1
BestMoney Score
Cost
7.2
Experience
8.0
Flexibility
7.5
Support
5.6
BestMoney User Recommendation
BestMoney scores are objectively determined by our editorial team. Our scoring...
Read More
Friendly Lender
BestMoney.ca's take: Friendly Lender is a great option if you need a small to medium sized loan for a few months to a couple of years. They keep their fees to a minimum and have options for those with low credit scores.
Friendly Lender Features
Quick online funding
Apply online and receive funds in as little as 24 hours
Loans available up to $5,000
Borrow up to $5,000 in just a few clicks
No hard credit check
Bad credit won't automatically disqualify you for a loan
No collateral and flexible repayment
Get unsecured loans with payment terms up to 2 years
If you’re facing financial difficulties and urgently need money, Friendly Lender could be the ideal solution. It’s a loan search platform that connects you with lenders offering loans between $100 and $5,000 without a traditional credit check.
The catch? Interest rates can hit hard (ranging up to 46.96%), and their lender network doesn’t service everywhere in Canada. This Friendly Lender review aims to assist you in determining whether the convenience justifies the cost.
Overview of our Friendly Lender review
Friendly Lender is a loan search platform that connects you with lenders. They match you with partner lenders who can offer loans ranging from $100 to $5,000 through a very simple process.
You apply online, and instant bank verification matches you with a lender within hours, with no paperwork hassle. Your money shows up via e-transfer or direct deposit, usually within 24 hours.
They connect you with different loan types: payday loans, installment loans, bad credit loans, personal loans, and cash loans. Each one has its terms and flexibility depending on what you qualify for. Terms range from 4 months to 24 months or longer.
As this Friendly Lender review will show you, they’re focused on connecting people with less-than-perfect credit to lenders. Interest rates vary based on your province, the lender’s assessment of your credit profile, and how long you’re taking to pay it back.
How to qualify for a Friendly Lender personal loan
To get connected with a lender, you need to be 18 or older, a Canadian citizen or permanent resident, and have an active chequing account.
You’ll need to earn at least $1,000 a month, have been working for at least three months, and get paid by direct deposit. When you’re connected to a lender, they may perform credit verification at their discretion, but having bad credit usually isn’t a dealbreaker.
What you’ll need to provide
Here’s the thing, the application process is completely paperless. You’ll just fill out a series of applications on their website to get verified. This includes;
- Postal code and loan amount
- Your biodata and home ownership status
- The purpose of your loan
- About your income status
- Details of your employer
- Details of your bank account
- About other expenses like housing cost, credit card and unsecured debt
- And security details like your SIN and ID number
Friendly Lender doesn’t perform credit checks themselves. Instead, they use instant bank verification to match you with a lender.
Once connected, the lender may perform their own credit verification through national databases at their discretion, but bad credit usually won’t disqualify you. Just show your identity, income, and employment through your bank verification. Once matched and approved, your money comes through in 24 hours.
How the money gets to you and when you pay it back
Once you are matched with your lender, the funds will hit your account within 24 hours either through e-transfer or direct deposit. You can borrow between $100 and $5,000, and you will pay it back through automatic withdrawals.
Loan terms range from 4 months to 24 months or longer, depending on the lender and your situation. It’s streamlined so you get cash when you need it most. If you miss a payment, you might face an insufficient funds fee of around $45, depending on the lender.
Friendly Lender services
- Payday loans
- E-transfer loans
- Bad credit loans
- Installment loans
- Emergency loans
Benefits of Friendly Lender
For People with Bad Credit
Even if your credit’s poor, you can still qualify because they focus on your income and job status, not your credit score. As long as you’re making $1,000+ a month and working, you’ve got a shot. People consistently say they were approved despite having bad credit and that the entire process was smooth.
No Collateral, No Hassle
You don’t need to put up your car or savings. Once you apply online, approval comes between 24 and 72 hours.
They Actually Help You Out
Their support team is responsive. You get regular updates through the process with clear explanations. They’re genuinely helpful if you’re dealing with a less-than-perfect credit score.
You will have access to educational resources, including tips on avoiding money mistakes and answers to frequently asked questions.
Pros and cons of Friendly Lender
This Friendly Lender review shows that quick cash in 24 hours is the big selling point. But speaking of the downsides, interest rates can be hefty and you don’t get flexibility with automatic payments.
Here are the pros and cons of Friendly Lender.
Pros of Friendly Lender
- Get approved and funded within 24 hours
- They accept bad credit
- Simple loans with no credit check, up to $5,000
- Customers are happy with how reliable they are
- Customer service is responsive and professional
- No collateral needed
- No application fees
- The whole thing is paperless
Cons of Friendly Lender
- You can’t change your payment schedule; it’s automatic
- Interest rates can climb depending on your province and loan terms
- You have to make sure money’s in your account on payment days
- They don’t service all provinces
- There’s no path to upgrading to better loan products
Conclusion to our Friendly Lender review
Friendly Lender gives you speed and convenience, but you’re paying for it through higher rates and locked-in payment schedules. If you’re desperate for cash and can swallow the interest costs, it’s a solid move, especially if bad credit’s keeping you out everywhere else.
Just make sure you can handle the payments. This Friendly Lender review shows they deliver quick funding, but remember, convenience doesn’t come cheap. Look at other options first to make sure this is actually your best bet.
Thanks for checking out our Friendly Lender reivew!
Other resources you might like…
Friendly Lender Details
Friendly Lender Contact Info
+1-647-497-7385
7 days a week, Open 24 hours a day
104 - 3300 Highway 7, Suite #174, Concord, Ontario, Canada L4K 0G2
support@friendlylender.ca
FAQs about Friendly Lender review
Can I trust Friendly Lender?
Yes, you can. Their customer reviews are pretty positive; people praise the fast funding, responsive service, and upfront terms.
What are the interest rates at Friendly Lender?
Interest rates range from 29.99% to 46.96%, depending on the lender's assessment of your credit profile.
How do you get a loan with Friendly Lender?
Visit their website to submit your application. You need to be 18+, a Canadian citizen or permanent resident, with a chequing account. You must have a job and earning through direct deposit for at least three months.
Friendly Lender Community Reviews
Would you recommend Friendly Lender to your friends?
BestMoney.ca User Rating
BestMoney users this product giving it a score of 0, or 0 stars.
The recommendation score shows how satisfied customers are with a provider. A perfect +100 means all customers recommend it, while -100 means no one does. These ratings come solely from community votes and are never affected by partner payments. BestMoney also monitors and removes fraudulent reviews once identified.
