Friendly Lender
Friendly Lender is a popular online lending solution for Canadians that need fast cash solutions. They pride themselves on helping customers get the cash they need quickly, offering a straightforward process for short-term loans.
Expert Review
Best For
Friendly Lender works best for Canadians with steady income who need a relatively small amount of cash to manage short-term expenses such as bills, minor emergencies, or temporary cash flow gaps.
Our Take
Friendly Lender is a straightforward online lender focused on helping Canadians access small, short-term cash loans quickly and with minimal friction. Operating since 2017 and serving more than 25,000 customers, Friendly Lender positions itself as a fast, digital alternative for borrowers who need a modest amount of money without the complexity of traditional bank lending. The product offering is simple: small installment-style cash loans between $500 and $1,000, repaid over roughly three to four months.
What We Like
- The simplicity of the application process, often completed via instant bank verification.
- Fast funding, with money typically received within 24 hours.
- Predictable loan structure with fixed amounts and defined repayment terms.
- Fully online and convenient digital-first approach.
Where to Improve
- High interest rates (29.99% to 46.96%) are a significant downside.
- Limited loan size and flexibility, with a maximum of $1,000.
- Does not offer credit-building features.
Verdict
Friendly Lender is a viable option for those needing quick, small cash injections for urgent expenses, provided they understand and can manage the high cost of borrowing. It is best used as an occasional solution for short-term liquidity rather than a regular financial tool, especially if lower-cost alternatives are available.
Brand Signals & Trust
Years in Business
9+
Geographic Reach
9 provinces
Product Diversity
1 product
Customers Served
Over 25,000
Trust Badges
Quality Lender, Veteran Lender
Products Offered
Online Cash Loans / Installment Loans
Amount Range
$500 - $1,000
Interest Rate
29.99% - 46.96%
Term
84 - 120 days
Funding Speed
24 hours
Eligibility
- 18 years old and over
- Have a chequing account
- Earn at least $1000 /month
- Be a Canadian Citizen or Permanent Resident
- Employed (3 months minimum)
- Be paid via direct deposit
Google Reviews
2 Google reviews
Monday: 9:00 AM – 5:00 PM
Tuesday: 9:00 AM – 5:00 PM
Wednesday: 9:00 AM – 5:00 PM
+4 more days
Photos
Scam! Don't waste time, request so many personal info employ info, and sensitive information about your bank, transit number, account number etc. after they send you some third company and you have to make new application :O Piece of garbage
They just funnel you to other "lenders". Also, the emails they send me ONLY show up in my SPAM folder.
How Friendly Lender Compares
Quick Eligibility Check
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This is an estimate only and does not guarantee approval. For a detailed assessment, use our full loan estimator.