How a Line of Credit Works
LendDirect personal lines of credit work similarly to a credit card. Apply just once, and if approved, you have access to take cash advances as often as you'd like up to your credit limit.
Apply Now
How Personal Lines of Credit Work
Your Personal Loan Explained in 6 Simple Steps
1Complete your application
You can complete your loan application 100% online, or by phone. When applying, you will need to provide personal, income & bank account information.
2Verify your income
Submit documentation verifying your income to receive a lending decision.
3Receive a lending decision
After submitting your application and income verification, we will provide you with a lending decision.
4Receive your money
Have your money direct deposited into your chequing account or select Interac e-Transfer® to get your funds in as little as 15 minutes.
5Make payments
Make regular payments over time, with the option to pay more than the minimum amount due to save on interest paid.
6Withdraw cash
As you pay down your balance, you can get additional cash advances up to your approved credit limit.
Get Started Now
You can completely fill out your LendDirect application online.
Get started with:
Basic personal information
(must be 18 years old to apply)
Open bank account
in your name
Proof of
recurring income
Is a Personal Line of Credit Right for Me?
We want you to be sure that you are making the right decision for your personal situation. Visit our help section to learn more about LendDirect personal lines of credit.
Go to Help Section