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.

How Personal Lines of Credit Work

Your Personal Loan Explained in 6 Simple Steps

1 Complete your application

You can complete your loan application 100% online, or by visiting a LendDirect branch. When applying, you will need to provide personal, income & bank account information.

2 Verify your income

Submit documentation verifying your income to receive a lending decision.

3 Receive a lending decision

After submitting your application and income verification, we will provide you with a lending decision.

4 Receive your money

Have your money direct deposited into your chequing account, or select to receive funds via Interac e-Transfer® to get your money in 2 hours or less.

5 Make payments

Make regular payments over time, with the option to pay more than the minimum amount due to save on interest paid.

6 Withdraw cash

As you pay down your balance, you can get additional cash advances up to your approved credit limit.

Get Started Now

There's no need to visit a branch, LendDirect offers an application that you can fill out completely online.

Get started with:

Basic personal information
(must be 18 years old to apply)

Open bank account
in your name

Proof of
recurring income

Apply Now

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.