Get competitive rates and affordable payments on your next personal loan with this reputable online lender.
Borrow up to $10,000, with terms lasting as long as 3 years.
12.99% to 39.99%
Interest Rate
$10,000
Max. Loan Amount
Please note: All information about SkyCap Financial personal loan has been collected independently by Finder and this product is not available through this site.
If you need fast cash to fund a large purchase or tide you over between paycheques, then you might like to check out SkyCap Financial. This alternative lender can help you get affordable access to the money you need to make ends meet, with no collateral required to secure your loan.
Find out how much you can borrow with SkyCap Financial and learn what you need to do to get approved.
What types of loans does SkyCap Financial provide?
SkyCap Financial offers fast and affordable personal loans with no requirement for any type of collateral to secure your funds. With these loans, you can borrow up to $10,000, with terms lasting as long as 3 years. You can fill out an application in less than five minutes, and even those with less than perfect credit scores are encouraged to apply.
The interest rates you’ll get on your loan will vary depending on factors like your credit score and the length of time you need to pay back your loan. Your rates may be higher than those advertised by the bank, but it will be much easier to qualify for funding with SkyCap Financial and you can access your money almost as soon as your application is approved.
What can I use my loan for?
SkyCap Financial won’t place restrictions on how you spend the money you borrow. This means you can use your loan to pay for just about anything. Some examples of what you can use your funds for are listed below.
Routine expenses. Cover your monthly bills and daily essentials like rent, gas and groceries.
Unexpected expenses. Pay for emergency expenses ranging from hospital bills and dental work to funeral costs and car repairs.
Large purchases. Put money down on large purchases like electronics, home renovations, flights, tuition and more.
Debt consolidation. Ease your debt load by consolidating many small debts into one easy payment.
What should I know before I apply?
To apply for a SkyCap Financial loan, you need to meet the following criteria:
Be at least 18 years old (and 19 in some provinces)
Be a citizen or resident of Canada
Have a net monthly income of $1,200
Be free from bankruptcy or other forms of unmanageable debt.
Government-issued ID. You’ll have to show identification like your driver’s licence or passport to verify your ID
Void cheque. You should bring a void cheque to give SkyCap Financial access to your bank account for direct deposit and payment deductions
Proof of income. You’ll be required to show your most recent pay stub and the last 90 days of your bank statement
How to apply
If you tick all the boxes outlined above and you’re ready to apply for a loan with SkyCap Financial, you can get started in a couple of easy steps.
Complete the online application, which includes providing your name, email address, personal details, proof of ID and relevant documents.
Review and submit your application.
Get verified and negotiate the terms of your loan if you meet the eligibility requirements.
Pros and cons
Pros
Instant funding. If you qualify, you can get approved in as little as 24 hours and receive your money shortly after that.
High loan amounts. You can apply for up to $10,000 in one shot, which is more than many other lenders offer.
Longer terms. It’s possible to lock in a term lasting as long as three years so that your payments are more affordable.
Decent interest rates. You’ll pay as little as 12.99% in interest on your loan, although rates can run as high as 40% based on your credit score and the length of your term.
No collateral required. You won’t need to secure your loan against an asset like your home or vehicle.
Bad credit doesn’t matter. Loan decisions are based on factors like your income so your credit score won’t be the deciding factor.
Early loan repayment. You can pay off your balance at any time without an extra fee.
Financial literacy training. You can join SkyCap University to learn more about how to make a budget and manage your finances.
Cons
Minimum monthly income. You’ll need to make over $1,200 per month to qualify.
Late payment fee. You'll be stuck with a $50 fine every time you don't make a payment on time
Some provinces not serviced. You won’t be able to qualify for a loan if you live in Nova Scotia or Quebec.
Bottom line
SkyCap Financial can give you easy access to quick cash with affordable repayments. Find out what you need to apply for a loan and start your application today to see if you qualify.
Compare other personal loans
Frequently asked questions
The cost will depend on factors like your credit score and the term of your loan. You can expect to pay interest rates ranging from around 12.99% to 39.99%. You’ll also have to pay fees for late payments.
You can use the money you borrow to pay for everything from monthly bills and large one-off purchases to emergency expenses and debt consolidation. You get to decide what you need the money for, and you won’t need to justify your purchases when you take out your loan.
Yes. SkyCap Financial looks at a combination of factors like your income and job stability to determine whether you’re eligible for a loan. Your credit will factor into your loan decision, but it won’t be the deciding factor in most cases.
It’s easy to make payments with SkyCap Financial‘s automatic pre-authorized payment plan. You’ll just need to make sure you have enough money in your account each month, and the amount you owe will be withdrawn automatically.
You can contact a customer service representative at any time by email or phone. You can also log in to your customer portal for more information about the specifics of your account.
Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, along with an Associate's Degree in Science from Camosun College. Much of Claire's coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. She has also worked extensively in the field of "Blended Finance" with the Canadian government. In her spare time, Claire loves rock climbing, travelling and drinking inordinate amounts of coffee.
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