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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Capital Cash

Finanso.Multilogin™

About lender

Capital Cash is a Canadian company specializing in the disbursement of short-term loans against the salary of its clients. The company's registered office is located in Canada: 1835 E. Hallandale Beach Blvd, Suite.

The company officially offers payday loans to individuals and provides its services in accordance with the applicable legislation.

Capital Cash's services are an alternative for customers who do not want to use the services of a pawnbroker or who cannot apply for a bank loan because they have had problems with their credit history in the past or because they do not have collateral.

Capital Cash offers a quick financial solution for urgent, short-term needs, such as an emergency leaky pipe repair or a car repair.

The company is considered a responsible lender in the microloan market, encouraging its customers to make weighted decisions about their borrowing.

They have a range of loan options from $150 to $1,500. The first loan is approved for a maximum of $150, and the amount can be increased if the borrower builds a good credit history with the lender.

Credit Cash does not provide loans to the residents of Alberta and Manitoba.

Pros and cons

Not everyone is prepared for unforeseen expenses such as unplanned car repairs, unexpected cash flow shortages, etc. When their funds are insufficient for a short period, people often turn to payday lenders.

Paying interest to the lender might be a better idea if you are at risk of a late payment penalty or reputational risk for not being able to cover urgent expenses.

Banking procedures are usually quite formal, so some customers prefer microloans with alternative lenders like Capital Cash.

Payday loans are only an emergency tool for a short period. This help comes at the right time, but it can not solve serious financial problems when personal budgets are unbalanced.

Capital Cash recommends determining whether a payday loan is the only acceptable option for the borrower and making a weighted decision about applying for the loan. You can use the information on the company's website to create your own checklist of pros and cons before applying, or use the shortlist provided below:

Pros

  • Fast process of application filing, approval, and communication;

  • Transparent fees: $49.50 for NSF (not sufficient funds) and interest rate of 546%, annualized interest makes 59%;

  • Collateral is not needed;

  • The application procedure is done online;

  • There is no need to visit the Lender’s office;

  • Possibility to build credit history with Capital Cash and increase future loans amount;

  • No credit checks; bad credit history is not a hindrance to get the payday loan from Capital Cash;

  • quick and efficient decision making;

  • Direct debit repayment saves from human factor consequences;

  • Customer support for all questions is always there for the Customers.

Payday loans seem to be a good solution, but Capital Cash offers to take time and consider the cons of getting the loan from this company.

Cons

Payday loans are paid for a short period and can lead to even more significant financial problems if not used to fix borrowers' issues in the long term.

Before you apply, keep this in mind:

  • Payday loans from Capital Cash are disbursed within your employer's next paycheck;

  • Even if the payday loan is disbursed without a credit check, failure to repay on time will affect the borrower's credit score and increase the financial burden;

  • Bad debt loans are referred to certified collection agencies;

  • Failure to repay a payday loan results in a deterioration of the borrower's credit history and credit score;

  • Capital Cash has a minimum take-home income rule: the borrower must have at least $700 net per month;

  • If the borrower has regular financial problems, the payday loan may become an excessive burden on the budget;

  • Late payments imply additional fees from Capital Cash;

  • The company’s website is a bit confusing: the footer says that the maximum loan amount is $1.500, but according to the FAQs, it is $1.000.

So, in conclusion, the above Capital Cash payday loans help those who face unexpected financial shortages and are disciplined enough to pay the loan and solve their problem in the long run. The advantages are easy online application, no credit check, no collateral, fast disbursement, and manageable repayment in direct payments.

Despite the many conveniences, payday loans from Capital Cash also have some disadvantages: the borrower has a minimum take-home income requirement of $700, It is a short-term solution suitable only for financial emergencies, and although there is no credit check for obtaining the loan, failure to repay would affect the borrower's credit score and creditworthiness with other financial institutions, collection procedures would be applied.

Loan conditions

Capital Cash offers easy terms for borrowers. Almost every Canadian is eligible for a payday loan from the company, except, that is, those who live in Alberta and Manitoba.

The first payday loan can be $150. After that, there are no automatic renewals. A new payday loan can be applied if the loan has been repaid in full and the borrower has established positive credit history with Capital Cash. The maximum loan amount is $1;500.

The company has the following requirements for borrowers:

  • age over 18 years;

  • applicant must be a Canadian citizen or have permanent resident status in Canada;

  • the same employer must have employed the borrower for at least 90 days;

  • income must be direct deposit;

  • after-tax income must be at least $700;

  • checking account in the borrower's name must have been active for at least two months;

  • current work and home phone numbers must be valid.

Once the loan is approved, the money will be transferred to the borrower's account.

The APR is 546%.

If the loan is approved on business days: Monday through Friday before 2:00 p.m., the loan amount is credited to the borrower's account before 6:00 p.m. EST as an electronic deposit.

Generally, EMTs are credited within 20 minutes of being sent.

For recurring customers, Capital Cash can also decide to transfer the loan amount on weekends: Saturday or Sunday via EMT or direct deposit.

If a pre-authorized payment is returned to Capital Cash for any reason, it will be considered a non-payment, and Capital Cash will be charged:

  • NSF fee of $49.50;

  • Additional annual interest of 59% from non-payment until actual repayment.

Capital Cash will initiate collection proceedings against the borrower if the loan is not repaid. Therefore, to protect borrowers from negative financial consequences, Capital Cash emphasizes the importance of having sufficient funds to repay the loan.

Note: Capital Cash gives its customers the right to return a payday loan free of charge on or before the end of the business day after which the loan agreement was signed.

Note: If the customer has established a good credit history with Capital Cash, it is possible to obtain two payday loans simultaneously. New customers can only obtain one payday loan and must repay it before they can apply for the next one.

Methods of a loan funding

The payday loan is transferred after approval by the lender and after both parties, the borrower and Capital Cash, sign the loan agreement.

Borrowers of Capital Cash receive the money by electronic transfer before 6:00 pm EST Monday-Friday. Generally, the wire transfer is received within 20 minutes of sending.

At its discretion, Capital Cash may decide to send the loan to its regular customers by e-mail transfer, even on weekends.

FAQ

What is Capital Cash?

Capital Cash is a Canadian lender specializing in short-term payday loans against the borrower's next salary.

The company is considered a responsible lender because it is transparent about its loan terms and fee policies and uses only legal forms of collection procedures when the borrower fails to repay the payday loan. In addition, capital Cash works with Know Your Customer to ensure that each borrower is identified correctly while making the lending decision.

Information about Capital Cash payday loans and potential risks is openly provided on the website, helping borrowers become informed and make a weighted decision, as the financial and reputational consequences for borrowers are serious.

Who owns Capital Cash?

The company has its registered office in Canada. However, more detailed information about the company's UBO is currently unavailable.

How do you qualify for Capital Cash?

According to the information available, applicants for payday loans must meet the following criteria:

  • They must be at least 18 years of age;

  • They must have Canadian citizenship or permanent resident status in Canada. Note: No loans will be conceded to residents of Alberta and Manitoba;

  • be officially employed by the same employer for at least 90 days;

  • have had an active bank account for at least two months;

  • have a monthly after-tax income of at least $700;

  • have a valid home and work telephone number.

How much can you borrow from Capital Cash?

Capital Cash offers payday loans ranging from $150 to $1,500. Note that the footer and alternative sources of information say that the maximum loan amount is $1.500, but according to the FAQs, it is $1.000.

Is Capital Cash a legitimate Company?

Capital Cash complies with all applicable laws in all jurisdictions in which it makes loans and with the provisions of the Payday Loans Act, 2008.

Company documents

Privacy

MONEY WHEN IT MATTERS

© Capital Cash

Financial products

Capital Cash
Payday loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$150-$1,500
Rate
i

Effective interest rate on the product

up to 546%
Term
i

Loan term for the financial product

up to 14 days

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Calculate loan payments in Capital Cash

Capital Cash calculator will allow you to calculate an approximate payment schedule for the loan

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What to pay attention to when applying for a loan from Capital Cash

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Capital Cash from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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All Capital Cash’s reviews by August 2022
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