Capital Good Fund Loans: 2025 Review
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Our Take
Capital Good Fund loans are cheaper alternatives to payday loans. These loans can help you cover expenses for emergencies, immigration and home weatherization.
Pros
- Low rates on small-dollar loans.
- Accepts bad credit and thin credit histories.
- No application fees.
Cons
- Available in a limited number of states.
Full Review
Capital Good Fund is an online, nonprofit lender that makes installment loans to borrowers with low incomes and no credit history or bad credit. Common uses of Capital Good Fund loans include car repairs, security deposits, refinancing high-interest debt, home weatherization and catching up on rent or utility bills.
With rates capped at 18%, Capital Good Fund personal loans are cheaper than payday and other high-interest loans.
Capital Good Fund lends to consumers in 11 states: Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Massachusetts, New Jersey, Pennsylvania, Rhode Island and Texas.
The company says it can offer low rates to consumers because it partly operates on grants and donations.
Capital Good Fund loan types
Capital Good Fund offers several loan types, depending on what you need the funds for. Rates, terms and availability vary by state.
Loan | Amount | Est. APR | Repayment terms | States available |
|---|---|---|---|---|
Impact | $300 - $1,500 ($500 maximum in RI). | 5% - 18% (varies by state). | 15 months. | CT, FL, GA, NJ, RI and TX. |
Immigration | $1,501 - $20,000. | 15.99%. | 4 years. | CO, CT, DE, FL, GA, IL, MA, NJ, PA, RI and TX. |
Weatherization | $500 - $50,000. | 0% - 5.99%. | 2 to 7 years. | MA and RI. |
Impact loans
Impact loans can be used for meeting basic needs like paying rent or covering surprise expenses, such as medical bills or car repairs.
In addition to smaller Impact loans, the lender offers an Impact PLUS loan in Georgia. Loans are from $1,501 to $3,500 with a 5% APR and are repaid over 30 months.
» MORE: Compare emergency loans
Immigration loans
These loans can pay for immigration-related expenses, such as obtaining citizenship and securing or renewing a green card. The lender says it has staffers who are fluent in English and Spanish.
Special requirements: Borrowers need a referral from a community agency or immigration attorney proving they’re eligible for immigration to get this loan. If the loan is used to pay for a detention bond, Capital Good Fund requires a copy of the judge’s immigration order.
Weatherization loans
The lender offers two types of weatherization loans to help homeowners in Massachusetts and Rhode Island make their houses more energy-efficient:
DoubleGreen Loans. Available in amounts of $500 to $25,000.
HomeGreen Energy-Efficient Loans. Available in amounts of $1,000 to $50,000.
Special requirements: Borrowers need a state-issued HEAT Loan Authorization Form and a household income of less than $140,000 in order to apply for a DoubleGreen loan. You’ll need your contractor to submit a project verification form to apply for a HomeGreen loan.
How to qualify for a Capital Good Fund loan
To qualify for a Capital Good Fund loan, you usually need a bank account or prepaid debit card with two or more months of statements, and income that can be verified with pay stubs or deposits into a bank account. You also must live in one of the states where Capital Good Fund operates.
Those qualifications are in addition to any special requirements for the type of loan you’re getting.
Banking history and a borrower’s ability to repay the loan are among the most important factors considered for approval. The company looks at your bank account history and whether you’re up to date on financial obligations like your mortgage and child support payments. This information shows not only if a borrower has enough income to repay the loan, but whether they keep enough money in their account every month to do so.
You don’t need a credit score or credit history to get a loan, but any credit you have will be considered.
Other Capital Good Fund programs
Capital Good Fund offers a credit-builder program in nine states, in which you pay $5 per month for 12 months. The lender reports those payments to all three credit bureaus as a 0% APR loan. It also offers a financial coaching program at $15 per month for 12 months.
Capital Good Fund loan example
Here’s what you can expect to pay for one of its loans:
Impact loan: A $1,000 loan with a 12% APR repaid over 15 months would have monthly payments of $72 and would cost $82 in total interest and fees.
Immigration loan: A $5,000 loan at 15.99% APR repaid over 36 months would cost $176 per month and carry $1,327 in total interest and fees.
» MORE: Use our personal loan calculator
How Capital Good Fund compares
Capital Good Fund has lower rates and smaller borrowing amounts than other payday loan alternatives, though lenders like Oportun and OppLoans are more widely available.
Oportun: Offers personal loans up to $10,000 with APRs up to about 36%. Oportun allows borrowers to choose their payment date or add a co-borrower.
OppLoans: Offers installment loans up to $5,000 with triple-digit APRs. OppLoans may let you change your payment date.
Capital Good Fund isn't a good idea if:
You need to consolidate debt: Capital Good Fund’s personal loan can be used to pay off higher-interest loans such as auto title or payday loans, but since the maximum loan amount is $1,500, it’s not a good choice for debt consolidation.
You have cheaper options: If you can’t pay your bills, ask for extra time from your creditors, get local assistance or find cash elsewhere.
Here are some alternatives that may be cheaper than borrowing.
For help meeting basic needs: Find a local financial assistance program that can help you get food, clothing and access to transportation for job interviews.
For help with rent or utilities: Contact your utility company, landlord or mortgage issuer for help deferring a payment. If you need long-term help, consider seeking other housing, or contact a housing counselor.
To pay medical bills: Learn about ways to cover medical costs, including payment plans.
To cover other one-time emergency expenses:
Ask a friend or family member for a loan to borrow from those you trust without accruing interest.
Ask your employer for a paycheck advance, or use a cash advance app to borrow against your next paycheck.
Get a small-dollar loan from a traditional bank. Several major banks, including Bank of America, US Bank and Wells Fargo, offer loans with maximum amounts of $500 to $1,000, but you’ll need to be an existing customer to qualify.
Get a payday alternative loan or a small personal loan from a credit union. You have to be a member to use this option, but it’s one of the most affordable ways to pay for an emergency.
Try other ways to make money. You need some extra time to make this option work.
If you take a Capital Good Fund loan
After considering alternatives, you may decide that taking a Capital Good Fund loan is your best option. In that case, do what you can to carve out room in your budget to repay the loan as quickly as possible and to build your emergency savings. For many people, borrowing for emergencies can be an expensive solution.
