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Capital Good Fund loans

Affordable short- and long-term financing for low-income families.

Capital Good Fund

Capital Good Fund is a community development financial institution (CDFI) that specializes in financing for low-income families. It offers everything from immigration and emergency loans to auto loans and refinancing. But it’s only available in four states. And you might be able to find a better deal if you have a high income and strong credit.

What types of loans does Capital Good Fund offer?

Capital Good Fund offers a variety of loans — from financing to cover an emergency expense to home improvement loans to make your home more energy efficient:

LoanAmountsAPRTermsWhat it’s forAvailable in…
Emergency loan$300 to $50010%1 yearEmergency expenses like unpaid debts, utilities, medical costs and car repairDE, FL, MA, RI
Personal loan$700 to $2,00024%2 yearsPersonal costs except unpaid debts or billsDE, FL, MA, RI
Auto loan$6,000 to $20,0007% to 17.99%5 yearsBuying a new or used car from a dealershipFL, MA, RI
Auto refinance loan$6,000 to $20,0007% to 17.99%5 yearsTrading in your current car loan for more favorable rates and termsFL, MA, RI
Immigration loan$700 to $20,00015.99% to 24%2 to 4 yearsApplication fees, green card applications or renewals, and other immigration-related costsDE, FL, RI
Weatherization loan$500 to $10,0000%2 to 5 yearsHome improvements to make it safer and more energy efficient, such as insulationMA, RI

Why should I consider taking out a loan from Capital Good Fund?

From its lenient requirements to its multilingual support team, here are a few perks of taking out a loan from Capital Good Fund:

  • Bad credit OK. Capital Good Fund may be able to help you get financing — even with a less-than-stellar credit score.
  • Payday and installment loan alternatives. Capital Good Fund could be a good source for bad-credit borrowers looking for an alternative to high-cost short-term loans.
  • Options without a bank account. You can get an emergency or personal loan loaded onto a debit card rather than having it deposited into your account.
  • 0% APR weatherization loan. Capital Good Fund’s weatherization loan is essentially free to qualified borrowers.
  • Live chat on website. You don’t have to pick up the phone to get a quick response to questions in English or Spanish.
  • Multilingual support. Capital Good Fund’s site is available in English and Spanish. You can also get support in Portuguese and Haitian Creole.

Where does Capital Good Fund fall short?

Consider these potential drawbacks before taking out a loan from Capital Good Fund:

  • Hard credit check. Capital Good Fund does a hard credit pull when you submit your application. You might want to check your eligibility before you apply.
  • Not all loans available in all states. Capital Good Fund serves residents of Rhode Island, Florida, Massachusetts and Delaware. But not all options are available in all four states.
  • Not as fast as some alternatives. It can take a few days to get your funds. If you need money today, you might want to consider other short-term loans instead.

How much will it cost me to borrow with Capital Good Fund?

It depends on the type of loan you’re interested in. Generally, Capital Good Fund doesn’t charge anything other than interest, including no origination fees, prepayment penalties or late fees.

Everyone also pays the same rate regardless of loan amount, terms and creditworthiness — except on car and immigration loans. You might have to pay a deposit of $300 on car loans and $500 on auto loan refinancing, though as of May 2019, the lender has a $0 down offer.

Loan typeRates
Emergency loan10%Read review
Auto loan7% to 17.99%Read review
Personal loan24%
Auto refinance loan7% to 17.99%
Immigration loan15.99% to 24%
Weatherization loan0%

Compare Capital Good Fund to other lenders

Data updated regularly
Name Product Filter Values APR Min. Credit Score Loan amount
Best Egg personal loans
5.99% to 29.99%
$2,000 - $50,000
A prime online lending platform with multiple repayment methods.
SoFi personal loans
5.99% to 18.85%
$5,000 - $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$1,000 - $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
LendingClub personal loans
8.05% to 35.89%
$1,000 - $40,000
A peer-to-peer lender offering fair rates based on your credit score.
Prosper personal loans
7.95% to 35.99%
$2,000 - $40,000
Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.

Compare up to 4 providers

Data updated regularly
Name Product Filter Values Minimum credit score APR Loan term Requirements
PenFed Auto Loans
Starting at 1.04%
Up to 10 years
Active membership with PenFed
Low APR car loans from a well-known credit union.
No minimum credit score
3.9% to 27.9%
18+ years old, annual income of $4,000+, no active bankruptcies
Get pre-qualified for used car financing and receive competitive, personalized rates. Car Loans
Varies by network lender
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
CarsDirect auto loans
No minimum credit score
Varies by network lender
Varies by network lender
Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
Good to excellent credit
Starting at 3.09%
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out. Car Loans
1.79% to 27%
550+ credit score, no open bankruptcies, $24,000+ annual income, US citizen or permanent resident, 18+ years old
Get up to four offers in minutes through one simple application. Multiple financing types available including new cars, used cars and refinancing.

Compare up to 4 providers

Data updated regularly
Name Product Filter Values Minimum credit score APR Loan term Requirements
PenFed Auto Loans
Starting at 1.04%
Up to 10 years
Active membership with PenFed
Low APR car loans from a well-known credit union.
LendingClub Auto Refinancing
Fair or better credit
3.99% to 24.99%
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
Lower your monthly car payments and save on interest through a fast and easy online application process.
Ally Clearlane
3.74% to 7.49%
3 to 7 years
Monthly income of $2,000+, live in an eligible US state, ages 18+
SuperMoney Auto Loan Refinancing
Varies by lender
Varies by lender
Car must be less than 10 years old with fewer than 150,000 miles. Fair to excellent credit, an income source, US Citizen or Permanent Resident, 18+ years old
Find an offer and get rates from competing lenders without affecting your credit score.
Good to excellent credit
Starting at 3.09%
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
MotoRefi Car Loan Refinancing
2.99% (as low as)
1 to 6 years
Must have an income of at least $2,000/month and have a vehicle with less than 100,000 miles.
A car loan connection service for borrowers looking to refinance.
RateGenius Auto Loan Refinance
2.99% (as low as)
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
Connect with a network of over 150 lenders to refinance your car loan.

Compare up to 4 providers

Data updated regularly
Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
$500 to $5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
$1,000 to $25,000
2 to 3 business days
Be employed, have a US bank account, live in a state where Stilt operates, hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.
No green card? You could still qualify for a personal loan.
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$100 to $2,500
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.

Compare up to 4 providers

What do borrowers say about Capital Good Fund?

Not much as of May 2019. This is common with small lenders, especially those that only serve a limited area. It doesn’t have any reviews or ratings on the Better Business Bureau (BBB) website or Trustpilot. Its Providence office has three reviews on Yelp, earning it 3.5 out of 5 stars.

The majority of reviews were positive, with one saying they referred clients to the lender all the time. Another said while they’d gotten a high rate on the car loan, it was the only lender that was willing to work with them. The one negative review was from a borrower who had been denied because they had a court judgment and overdrafted their bank account once.

Are Capital Good Fund loans safe?

Generally, yes — though no website can ensure your information stays 100% safe. Capital Good Fund does its part by using SSL encryption to protect any details you enter on your application when you apply online. Its employees only have access to your data for task-related purposes and are required to sign a confidentiality agreement pledging to not disclose any client’s personal information.

While it does use some information for marketing purposes, none of it is personally identifiable.

How to apply for a loan with Capital Good Fund

You can apply for a Capital Good Fund Loan online. Rhode Island residents also have the option of stopping by its Providence office and applying in person.

Before you apply, make sure you meet the loan’s eligibility requirements. Then follow these steps to get started online:

  1. Go to the Capital Good Fund website and select your state.
  2. Scroll down and click Get a Loan.
  3. Click Get a Loan again.
  4. Click Sign Up to create an account.
  5. Enter your name, email and create a password. Then click Next.
  6. Click My Loans/Apply for a loan.
  7. Select the type of loan you’d like to apply for and follow the directions to enter your personal information.
  8. Upload any required documents.

Generally it takes up to two business days for Capital Good Fund to get back to you with an offer.

Eligibility requirements

Eligibility requirements vary depending on the type of loan you’re interested in. However, there are a few requirements you must meet to qualify for any loan from Capital Good Fund:

  • Resident of Rhode Island, Florida, Massachusetts or Delaware
  • Regular income
  • Government-issued ID
  • Over 18 years old

You can check if you’re eligible for a loan by filling out a form on Capital Good Fund’s website. It requires no personally identifiable information and has no affect on your credit.

More about Capital Good Fund

Capital Good Fund is a Rhode Island-based lender with a mission to help low-income families access affordable credit and get on the road to financial stability. It’s a US Treasury-certified community development financial institution (CDFI) — a nonprofit lender that aims to boost economically disadvantaged communities.

In 2015, it expanded from Rhode Island to Florida, Delaware and Massachusetts with the goal of offering 17,000 loans by 2020. To fund this expansion, it relied on both interest from its loans and investments from individuals and organizations. In addition to loans, it also offers financial coaching services.

Bottom line

Capital Good Fund could be a good option for low-income families that have struggled to get financing. And everyone interested in making energy-efficient home improvements might want to take a serious look at its 0% weatherization loan. However, it’s not available in most states and not ideal if you need funding the same day.

You can find out how it compares to other short-term lenders by checking out our guide to payday loans. Or find out how it stacks up to other auto financing providers by reading our guide to car loans.

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