Lendified Alternative Canada
1 Application → 50+ Lenders
Lendified is a direct lender — your application is seen only by them. lendflo is an independent broker that submits your file to 50+ Canadian lenders simultaneously, letting you compare the best available offers for your profile. Same single application, more options.
Lendified vs. lendflo — Comparison
| Feature | Lendified | lendflo |
|---|---|---|
| Platform type | Single direct lender | Broker with 50+ lenders |
| Offers received | 1 (their internal offer) | Multiple offers compared |
| Single application | Yes | Yes — one app, 50+ lenders |
| Poor credit | Limited possibility | Yes through select partners |
| Approval timeline | Varies | Fast |
| Borrower fees | None | None |
FAQ — Lendified vs. lendflo
We’re here to simplify your business financing journey, so you can feel confident every step of the way.
Lendified is a direct lender — your application is only considered by their internal product. lendflo is an independent broker that submits your file to 50+ lenders simultaneously, increasing your approval odds and giving you access to the best market offers.
Yes. lendflo is completely free for borrowers. Partner lenders pay lendflo when a loan is funded. There are no broker fees, no application fees, and no hidden costs for borrowers.
With lendflo, you submit one application and get access to 50+ lenders. This increases your approval odds, lets you compare offers, and avoids damaging your credit with multiple direct hard inquiries. You stay in control.
Still have questions?
No obligation, just answers.
Quick answer
Is a broker better than going straight to one online lender?
A direct lender shows you one set of terms. A broker like lendflo submits one application to many lenders and shows you several offers side by side. If the best offer for your business comes from the lender you were already considering, you lose nothing by comparing.
How to compare any two offers
- Total cost of borrowing: the full amount repaid, not just the headline rate
- Term length and payment frequency (weekly, biweekly or monthly)
- Fees: origination, administration and any early-repayment charges
- Security: whether the loan is unsecured, or needs a personal guarantee or business assets
- Speed: how long from application to funds in your account
Why comparison matters
Two offers with the same interest rate can differ by thousands of dollars once fees and repayment schedules are included. Lining offers up in one place makes those differences visible before you sign.
How the lendflo process works
You complete a short online application. An advisor matches your profile to suitable lenders from a network of 50+ and returns options promptly. You choose whether to accept any of them, and lenders, not you, pay lendflo when a loan funds.
1 Application → 50+ Canadian Lenders
Free for borrowers. No broker fees. fast decision.
Compare My OptionsQuestions to ask any lender or broker before you sign
The same six questions work for a bank, an online lender or a broker.
- How are you paid? — and will I ever pay a fee?
- What is the total I will repay? — not just the interest rate.
- What happens if I repay early? — is there a charge?
- Do I need collateral or a personal guarantee? — read the offer for the clause.
- How soon will funds arrive? — after approval and signing.
- Who will I deal with afterwards? — the lender or the broker.
People also ask
lendflo is a broker, not a lender: it compares offers from several lenders for you and is paid by the lenders, not by you. BDC and banks lend their own money under their own criteria. Compare timelines and total cost on each lender’s own page.
The Business Development Bank of Canada (BDC) is a federal Crown corporation that lends to and advises Canadian entrepreneurs; it is not a chartered bank. Approval times depend on the product, so check bdc.ca for current details. lendflo is a broker, not a lender, and can show you other offers to compare.
A business loan broker does not lend its own money. It compares offers from several lenders for you and is usually paid by the lender when a loan funds. lendflo works this way: free for business owners, paid by lenders. Ask any broker how it is paid, and compare total repayment.
No. lendflo is free for business owners; it is paid by the lender when a loan funds. Whoever arranges a loan, always compare the total amount you will repay on each offer, not only the interest rate.
Terms explained
What is an alternative lender?
An alternative lender is a non-bank company that provides business financing, such as an online lender or a private lender. Alternative lenders typically decide faster and use broader criteria than banks, often looking at revenue and cash flow as well as credit, in exchange for a higher cost.
See in the glossaryWhat is a business loan broker?
A business loan broker is an intermediary that compares offers from several lenders for a business instead of lending its own money. It is usually paid by the lender when a loan funds. lendflo is a broker: it is free for business owners and paid by lenders.
See in the glossaryWhat is the total cost of borrowing?
The total cost of borrowing is everything you pay on top of the amount you borrow, including interest and fees. The annual percentage rate (APR) expresses that cost as a yearly percentage so offers can be compared. Always compare the total amount repaid, not only the interest rate.
See in the glossaryTopic guide
Part of the guide: Government programs and lender alternatives
BDC, the Canada Small Business Financing Program, banks and other lenders — and how a broker compares them.