RESPONSIBLE LENDING

Responsible Lending

It is vital to SkyCap Financial to provide our services in a manner that promotes transparency, and openness, which serve to allow our customers to fully comprehend all rates and fees included in their loan (or loan application). Please read the FINE PRINT prior to submitting an application or before borrowing money with us.


RATES AND FEES

All applications provide you with a disclosure page that list out the applicable rates and fees as follows:

- Annual Percentage Rate (APR)  =  ranges from 12.99% to 39.99%
- Loan terms  =  ranges from 9 months to 3 years
- Early Loan Repayment  =  FREE – Pay off your balance at any time without any extra fee.
- Loan Protection Plan Coverage  =  is OPTIONAL and incurs an additional fee

• The sample loan payment displayed on our website includes the optional Loan Protection Plan coverage, but does not include any applicable provincial sales taxes on the Loan Protection Plan.


LATE-PAYMENT AND NON-PAYMENT

In the event that any cheque or other payment method is not honoured due to insufficient funds, you will be charged a $45.00 fee per event. If you fail to make a payment when due, the unpaid principle and accrued interest will immediately become due without notice to you. You are responsible for any legal costs incurred to collect upon any amount owing and/or incurred to protect or realize the security given for the loan.