Capital Good Fund loans

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

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

Updated December 11th, 2019
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
5.95% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona Personal Loans
3.84% to 35.99%
Good to excellent credit
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
Upgrade Personal Loans*
6.98% to 35.89%
600
$50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
Even Financial Personal Loans
3.84% to 35.99%
550
$100,000
Get connected to competitive loan offers instantly from top online consumer lenders.
NetCredit Personal Loans
34% to 155% (Varies by state)
No minimum
$10,000
Check eligibility in minutes and get a personalized quote without affecting your credit score.
Monevo Personal Loans
3.99% to 35.99%
450
$100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
PenFed Credit Union Personal Loans
6.49% to 17.99%
650
$25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
LendingClub Personal Loan
6.95% to 35.89%
640
$40,000
A peer-to-peer lender offering fair rates based on your credit score.
SoFi Personal Loan Fixed Rate (with Autopay)
5.99% to 17.88%
680
$100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 providers

Updated December 11th, 2019
Name Product Filter Values Minimum credit score Loan term Requirements
car.Loan.com Car Loans
300
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.
SuperMoney Auto Purchase Loans Marketplace
600
Varies by lender
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.
Auto Credit Express Car Loans
300
Varies by lender
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
500
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.
LightStream Auto Loans
Good to excellent credit
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
LendingTree Auto Loans
Good to excellent credit
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.

Compare up to 4 providers

Updated December 11th, 2019
Name Product Filter Values Minimum credit score Loan term Requirements
LendingClub Auto Refinancing
Fair or better credit
From 2 years
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.
Clearlane
Varies
3 to 7 years
No past bankruptcies and defaults on loans in the past three years, no loans or credit card payments with 60+ days late over the past two years, credit history of 36+ months, monthly income of $2,000+, US resident, ages 18+
SuperMoney Auto Loan Refinancing
600
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.
LendingTree Auto Loans
Good to excellent credit
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
525
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
510
Varies
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

Updated December 11th, 2019
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
OppLoans Installment Loans
$5,000
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
Fast5kLoans Short-term Loans Connection Service
$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.
Check Into Cash Payday Loan
$1,000
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+
Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
LendYou Short-term Loans
$15,000
Same business day to 1 business days
$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.
Slam Dunk Loans
$50,000
Same business day to 1 business days
Employed, $800+ regular monthly income, checking account, ages 18+, US citizen
Fill out a simple online form to compare offers from several lenders that may be able to help.
Jora Installment Loans
$2,600
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
CashUSA Installment Loans
$10,000
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.

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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