Have you come across a business opportunity that is too good to shun? Are you planning to replenish your startup’s inventory with plentiful and high-quality options? Spreading the word that you’re thinking about taking a small business loan will be met with all kinds of opinions. Naysayers will give cautious anecdotes of how starting or expanding a business with a loan is such a bad idea. After reading our Captain Cash company review, you’ll see that taking out a loan isn’t as complicated as most people think.
While it’s true that not every reason is good enough reason to go into debt, it doesn’t necessarily mean that there aren’t good reasons to start a business with a loan. If your business is geared up to take that leap, but you lack enough capital to take it off the ground, you should consider applying for a small business loan. At Bonsai Finance, we connect borrowers to reputable lenders so that they (borrowers) can actualize their dreams. Captain Cash is one of the lenders on top of our recommendations list.
About Captain Cash
Captain Cash is an online lending company that’s committed to providing cash loans to people with either good or bad credit. It prides itself for being among the first online lenders in Canada that introduced the groundbreaking technology of ‘document free’ transactions and instant banking verification.
Captain Cash has been in operation since 2015. In the years it has been in operation, it has managed to serve many provinces in the country, which is no small feat. Coverage areas include, but are not limited to:
- British Columbia
- Northwest Territories
- Nova Scotia
- Ontario, New Brunswick
- Prince Edward Island
Another unique feature we would like to outline in this Captain Cash company review is that this online lender has similar charges across all the provinces, a decision that we find to be extremely fair. This one-of-a-kind lending company usually offers its services from Mondays through Friday.
How Does Captain Cash Work?
Firstly, Captain Cash lending service is 100 percent online. Even better news is that it works great to obtain the credit you need from your tablet or mobile phone. The company presents a very simple and straightforward process that enables you to get the financing you need at the touch of your button.
Before you get the amount you need from Captain Cash, you must first be eligible. The following are the eligibility requirements:
- You must be a Canadian citizen,
- You must be at least 18 years of age,
- You must have a stable job or source of revenues with at least three months or more of prior service,
- You must have a monthly income of not less than $1,200 that you receive by cheques or direct deposit from an employer or employment insurance,
- You must have a Canadian bank account that has been active for not less than 3 months. This bank account must be the one that you receive direct deposits from your employer,
- You must not have other active short-term loans (high debt ratio),
- You must not have a few or non-sufficient funds transactions,
- You must not have too many NSF/Stop payments,
- You must not be on the verge of entering into a consumer proposal or declaring bankruptcy.
Please note that there are certain sources of revenue that Captain Cash does not consider as valid income sources. They include student loan, private pension, disability income, child tax, social assistance, CPP, and other insurance income. Also, note that you’ll not be eligible if you’re self-employed.
If you meet all the eligibility requirements, all you need to do is to provide proof of income and a screenshot of your bank statement. Also, be sure to provide all the relevant information as required when filling out the online forms. The process of getting the cash you need is simple – complete the simple application, get approved, and have credit filled in your account.
Financial Products Offered by Captain Cash
This lending company basically offers personal loans to eligible borrowers and is capable of lending between $500 and $700 at an interest rate of 28% – 32%. Captain Cash makes funds available the same day for most loans.
The company will then provide you with the payment schedule upfront upon the approval of your loan request. The loan repayment period varies between 3 and 4 months depending on the amount of loan acquired.
Is Captain Cash Reliable?
At Bonsai Finance, we are very proud to be associated with Captain Cash as it’s one of the companies that are highly reliable. We have recommended this company to many borrowers and they have always expressed their satisfaction after obtaining services from this reliable online lender.
You are probably wondering – is it safe to transact with Captain Cash? They use a very secure website to ensure that your information is safe and secure. When filling in your application, you will be able to sign directly online on the company’s secure e-signature platform. According to reports, an e-signature is actually more secure compared to a physical signature.
If the many positive customer reviews and testimonials on Captain Cash’s website are anything to go by, then we can say without a doubt that this company is not only trustworthy and reliable but that it’s also safe.
Final Opinion of Bonsai Finance
We make it our business to match borrowers to ideal lenders, which means that our list of lenders has to feature only the best that Canada has to offer. We take our time to research lenders so that we can only add the most reliable and trustworthy lenders this industry has to offer.