Lenditt

Lenditt: digital loans for Canadians

Lenditt is an online lending platform operating in Canada and presents itself as a licensed payday lender. Its approach centers on a fully digital application process, with no branch visits or physical paperwork, and direct disbursement to the applicant's bank account. The company offers various short-term credit products and installment loans, with coverage varying by province.

Available credit products

Lenditt's catalog includes two main lines:

• Instant personal loan: amounts from $100 to $1,500, available exclusively in Ontario. The maximum borrowing cost indicated is $14 per $100 borrowed, and repayment terms extend up to 62 days.
• Installment loan: amounts from $900 to $10,000, with a fixed annual percentage rate (APR) starting at 31.99%. It is available across Canada except Ontario and Quebec, with a fixed repayment schedule of 2 to 6 months.

Additionally, the company mentions other options such as emergency loans and payday loans, subject to the applicant's location and eligibility.

Geographic coverage and conditions

Product availability varies by province. Instant personal loans and emergency loans are offered only in Ontario, while installment loans are available in the rest of Canada, excluding Ontario and Quebec. The company operates as a licensed lender in Ontario.

Application and disbursement process

The process is 100% digital through the Lenditt mobile app, available for iOS and Android. Applicants can apply at any time, as the automated system is available 24 hours a day, 7 days a week, including weekends and holidays. Once approved, the amount is deposited directly into the registered bank account, with no intermediaries, digital wallets, or cash. The company states that it does not charge platform fees, processing fees, or hidden charges.

Requirements and credit flexibility

Lenditt notes that it accepts applications from people with various credit histories, including low scores. No collateral or complex documentation is required. The app allows tracking the application status through a dashboard.

Payment and repayment methods

For loan repayment, Lenditt accepts Interac and pre-authorized debit (PAD).

Other information of interest

The company is currently promoting a 50% discount on the cost of borrowing, as announced on its website. It also has a rating of 3.2 out of 5 and 3.8 out of 5 on different platforms, based on 341 reviews, according to the data shown.