Updated September 28, 2026 · BorrowCue Editorial Team
Borrowell vs Lendela
What sets them apart
| Compare |  Borrowell |  Lendela |
|---|---|---|
| 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).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
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 Canadian borrowers with poor credit who want a marketplace willing to consider them, and its credit building loan carries an APR of 0% over 48. Loans run CAD 500 to CAD 50,000, funding follows partner approval, and the check itself is soft prequal.
Lendela
Lendela suits Singapore borrowers who want a fast loan without a credit check. The marketplace matches amounts of SGD 1,000 to SGD 200,000 over terms of 3 to 72, with an APR of up to 48% set by the lender you are matched to.
Score breakdown
| Area | Borrowell | Lendela |
|---|---|---|
| Cost | 9.5 | Not confirmed |
| Offer | 9.0Higher | 8.9Fees are SGD 0 to arrange a personal loan and SGD 0 on the mortgage side. |
| Trust | 8.3Higher | 8.2 |
Sources behind this comparison
Borrowell
- borrowell.com: 15 facts, checked September 26, 2026
Lendela
- sg.lendela.com: 16 facts, checked September 26, 2026
- hk.lendela.com: 1 fact, checked September 26, 2026
How they place
| Ranking | Borrowell | Lendela |
|---|---|---|
| Personal loans | 109 of 1932 | 74 of 1932 |
| Loans for bad credit | 59 of 275 | 42 of 275 |
| Debt consolidation loans | 44 of 425 | 26 of 425 |
| Mortgages | 15 of 719 | 6 of 719 |
| Remortgage deals | 13 of 351 | 6 of 351 |
| Business loans | 16 of 435 | 10 of 435 |
| Home improvement loans | 52 of 562 | 31 of 562 |
Every fact side by side
| Fact | Borrowell | Lendela |
|---|---|---|
| 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 |
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 | 8.99% |
| Term | 48 monthsbelow the median | 3 to 72 monthsabove the median | 60 months |
Median across 1005 listed lenders.
Pros and cons
Borrowell
Pros
- The credit building loan runs at an APR of 0% with early repayment free.
- The check is soft prequal and the credit bar is poor, so thin files still get considered.
- Borrowing covers personal, debt consolidation and business needs, with loans of CAD 500 to CAD 50,000.
Cons
- Support runs on email and help centre only, so there is no phone line for urgent queries.
- As a marketplace, the rate and the approval sit with loan partners rather than with Borrowell.
- Loan amount ranks 457 of 685, so the ceiling is modest beside lenders offering more.
Lendela
Pros
- No credit check at all, and a fair credit profile is enough to apply.
- The range covers personal, debt consolidation and business lending under one roof.
- Funding is quick, with disbursement within hours on some applications.
Cons
- A marketplace model (marketplace) means the matched lender sets the rate, so up to 48% is a ceiling.
- That ceiling is steep next to 10% to 23% at Monzo Flex.
- Support runs on email, phone and help centre, with no live chat listed.
Who each suits
Borrowell
Who it suits
- Canadian citizens or permanent residents who are adults at the age of majority in their province.
- Borrowers with poor credit who want a soft prequal check before an application goes to a partner.
- Borrowers rebuilding a credit file who can let a loan run for 48 and clear it early without a charge.
Who should look elsewhere
- Cashspace, at PHP 12 to PHP 36, if you want a stated rate range rather than partner-set pricing.
- Cashspace ES, whose €100 to €5,000 is a better fit for smaller sums.
- Monzo Flex, at 10% to 23%, if a fixed published range matters more to you than a partner marketplace.
Lendela
Who it suits
- Singapore citizens and permanent residents with a steady income who need money quickly.
- Borrowers with fair credit, or who would rather avoid a credit check altogether.
- Anyone funding home improvement work, its named use case: home improvement.
Who should look elsewhere
- Not for lowest rate seekers: Monzo Flex runs at 10% to 23%.
- Not for shoppers after a cost free product: Cashspace ES lists 0%.
- Not for borrowers outside Singapore: Cashspace serves the Philippines at PHP 12 to PHP 36.
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
What does a Borrowell loan cost?+
Borrowell's credit building loan runs at an APR of 0% over a term of 48, and early repayment is free on it. Its personal, debt consolidation and business loans go through loan partners who set their own pricing, so this rate does not cover the whole marketplace.
What credit check does Borrowell use?+
The check on a Borrowell application is soft prequal, and the credit bar sits at poor. That is a lower bar than most lenders ask, which is the point of a marketplace, but a partner still decides both the approval and the rate you are offered.
Lendela
What APR does Lendela charge?+
The published APR runs to up to 48% on personal loans, and that figure is a ceiling rather than a rate every borrower pays. Because Lendela is a marketplace, the rate depends on the matched lender and on your own credit standing.
Are there fees to arrange a loan?+
The origination fee on personal loans is SGD 0, and the product fee on the mortgage side is SGD 0, so arranging a facility itself costs little. Interest remains the main price of the money, and the representative example shows how instalments add up.
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