Updated September 28, 2026 · BorrowCue Editorial Team
Lendela vs Sofkredit
Lendela vs Sofkredit: the differences
| Compare |  Lendela |  Sofkredit |
|---|---|---|
| APR | up to 48% | 10.74% to 18.06% |
| Loan amount | SGD 1,000 to SGD 200,000 | €12,000 to €300,000 |
| Term | 3 to 72 months | 6 to 240 monthsHigher |
| Arrangement fee | SGD 0 | 6% to 9% of the loan; on a 15,000 EUR mortgage-guaranteed loan the commission is 900 EUR minimum and 1,350 EUR maximum, charged by the collaborating lender; Sofkredit's own service costs the user nothing |
| Credit check | None | Soft prequal |
| Funding time | Around 1-2 days from application to disbursement; some within hours | 15-20 days after approval; same day as the notary signing, about one week if documentation is sent quickly |
| Representative example | Personal loan: $20,000 at APR 6.95% over 5 years, total payable $26,940, monthly cost $449 | a 15,000 EUR loan at 9% interest over 5 years returns a total of 21,750 EUR |
| Lender type | Marketplace | Broker |
| Eligibility | Age 21 or older; Singapore citizen or PR (foreigners also considered, higher income threshold); min annual income SGD 20,000-30,000 citizens/PR | Natural or legal persons of legal age (+18) with Spanish nationality or residence, holder of a bank account; for mortgage-guaranteed loans a property must be owned, free of charges or with at least 70% of the mortgage repaid |
| Loan types | Personal, Debt consolidation, Business, Secured, StudentCovers more | Secured, Debt consolidation, Business |
| Credit needed | Fair | Poor |
| Origination fee (%) | Not confirmed | 6% to 9% |
Same on both: Use cases (Home improvement).
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Key differences
- Sofkredit scores higher overall: 8.6 vs 8.5.
- Sofkredit is available in 1 more country.
- Term is higher at Sofkredit: 6 to 240 months vs 3 to 72 months.
- Features: only Lendela offers Credit line.
- Loan types: only Lendela offers Personal, Student.
Our verdict on each
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.
Sofkredit
Sofkredit suits Spanish borrowers who want property backed finance and can wait for a notary appointment. The headline cost is an arrangement fee of 6% to 9% of the loan, while Sofkredit's own service adds nothing beyond it.
Score breakdown
| Area | Lendela | Sofkredit |
|---|---|---|
| Cost | Not confirmed | 8.5 |
| Offer | 8.9Fees are SGD 0 to arrange a personal loan and SGD 0 on the mortgage side. | 9.3HigherRanges cover €12,000 to €300,000, 6 to 240 and 10.74% to 18.06%, with home equity and remortgage and home improvement on the same application. |
| Trust | 8.2 | 8.3Higher |
Which one suits you
Pick Lendela if loan types matter most.
Pick Sofkredit if offer and term matter most.
Side by side, item by item
| Loan types | Lendela | Sofkredit |
|---|---|---|
| Personal | Yes | No |
| Debt consolidation | Yes | Yes |
| Secured | Yes | Yes |
| Business | Yes | Yes |
| Student | Yes | No |
| Use cases | Lendela | Sofkredit |
|---|---|---|
| Home improvement | Yes | Yes |
Availability and regulation
| Country | Lendela | Sofkredit |
|---|---|---|
| Italy | Not confirmed | |
| Spain | Not confirmed | Banco de Espana E020 |
Additional countries for Lendela: 2. Additional countries for Sofkredit: 3.
From lowest to highest
| Fact | Lendela | Sofkredit |
|---|---|---|
| APR | up to 48% | 10.74% to 18.06% |
| Term | 3 to 72 months | 6 to 240 months |
What we checked
Lendela
- sg.lendela.com: 16 facts, checked September 26, 2026
- hk.lendela.com: 1 fact, checked September 26, 2026
Sofkredit
- sofkredit.com: 17 facts, checked September 26, 2026
How they place
| Ranking | Lendela | Sofkredit |
|---|---|---|
| Loans for bad credit | 42 of 275 | 2 of 275 |
| Debt consolidation loans | 26 of 425 | 2 of 425 |
| Secured loans | 12 of 472 | 1 of 472 |
| Mortgages | 6 of 719 | 1 of 719 |
| Remortgage deals | 6 of 351 | 1 of 351 |
| Business loans | 10 of 435 | 1 of 435 |
| Home improvement loans | 31 of 562 | 2 of 562 |
Every fact side by side
| Fact | Lendela | Sofkredit |
|---|---|---|
| Features | Same day funding, Credit lineCovers more | Same day funding |
| Legal entity | Lendela Pte. Ltd. | Kova Finance, S.L. |
| Headquarters | Singapore | Spain |
| Founded | 2018 | Not confirmed |
| Support channels | Email, Phone, Help centre | Email, Phone, Help centre |
Mortgages
| Fact | Lendela | Sofkredit |
|---|---|---|
| Initial rate | 2.4%Lower | 8% to 14% |
| APRC | Not confirmed | 10.74% to 18.06% |
| Fixed period | Not confirmed | 0.5 to 20 years |
| Maximum loan to value | Not confirmed | 30% |
| Product fee | SGD 0 | €900 to €1,350 |
| Purpose | Purchase, Remortgage | Home equity, Remortgage |
Where each stands against the rest
| Fact | Lendela | Sofkredit | Median |
|---|---|---|---|
| APR | up to 48%highest quarter | 10.74% to 18.06%above the median | 8.99 |
| Term | 3 to 72 monthsabove the median | 6 to 240 monthshighest quarter | 60 |
| Origination fee (%) | Not confirmed | 6% to 9%highest quarter | 0.25 |
Median across 1005 listed lenders.
Pros and cons
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.
Sofkredit
Pros
- Sofkredit's own service costs nothing, so the only charge to weigh is the lender's arrangement fee of 6% to 9%.
- The loan range €12,000 to €300,000 and the term range 6 to 240 suit both renovation projects and debt consolidation.
- Eligibility leans towards weaker files, with the credit needed listed as poor, and the credit check is soft prequal.
Cons
- The arrangement fee of 6% to 9% is a large share of the loan, and the product fee on a small mortgage guaranteed loan runs €900 to €1,350.
- Maximum loan to value is 30%, well below the 90% across listed lenders, so equity of your own is required.
- Sofkredit is a broker, so the contract sits with the collaborating lender rather than the site you apply through.
Who each suits
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.
Sofkredit
Who it suits
- Spanish residents and nationals who own a property that is free of charges or has most of its mortgage repaid
- Borrowers consolidating several debts into one payment, since debt consolidation is among the secured, debt consolidation and business
- Homeowners funding renovation work, as home improvement is the main listed use case
Who should look elsewhere
- Anyone who needs money the same week without a notary appointment, against the stated funding time
- Borrowers who want to borrow more than a low share of their property's value, given the 30% cap
- Small lenders wanting a quick online application rather than the documentation and notary steps this route involves
Country by country
| Country | Lendela | Sofkredit |
|---|---|---|
| France | No | Yes |
| Hong Kong | Yes | No |
| Italy | No | Yes |
| Singapore | Yes | No |
| Spain | No | Yes |
Questions about each
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.
Sofkredit
What does Sofkredit charge to arrange a loan?+
The arrangement fee runs 6% to 9% of the loan and is charged by the collaborating lender. On a small mortgage guaranteed loan the commission falls within €900 to €1,350. Sofkredit's own service costs the borrower nothing beyond that lender charge.
How much can I borrow and for how long?+
Loan amounts run €12,000 to €300,000 and terms run 6 to 240, so the range is wide enough for a renovation or a debt consolidation. Terms and amounts are set by the collaborating lender rather than by the site you apply through.
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