FAQ

GOCAP was founded in 2020, with a vision of adding a new dimension to unsecured lending.
We believe that your future is more important than your past when it comes to borrowing money. You may have good or limited credit history, but we will focus on whether you can afford to repay. We’re not ignoring credit history, just ensuring that we believe that you can afford the repayments from the information we can see about your finances and joining the dots between creditworthiness and affordability.

Our platform provides a fast, secure, personalised service. Requesting a quote takes moments - no long, complicated forms to be filled out here! Or having to get the calculator out to work out your finances! If you meet our underwriting criteria, we might offer you what we consider to be a competitive APR (see how our loan works below). We carry out soft credit searches only, so requesting a quote from us does not affect your credit rating. Only when your loan request is approved, will we register a hard search that other lenders can see, and may consider in making future credit decisions. We will transfer your funds immediately, in most circumstances, and the money should be with you within hours. You can pay your loan off early at any time with only one additional month’s interest to reflect the fact that you have 30 days to make any settlement payment calculation that you request. We make every effort to offer all our customers fair treatment and good service.

GOCAP’s salary linked loan was designed with the goal to provide individuals with a fair and flexible rate, more in line with their affordability.
Unforeseen changes in your working life can too often lead to financial difficulties and sometimes an inability to repay, with long-term negative consequences. Our loan takes a new approach to lending, making the monthly payments a fixed percentage of your salary and thus helping you with budgeting as your income goes up or down.
This flexibility should help you be more likely to make your loan payments, which allows us to offer you the lowest interest rate we can; something that should benefit both you and us!
-When your salary goes up, so do your monthly payments (capped at a pre-set maximum)
- If your salary goes back down your repayments do too (down to a pre-set minimum).
With your consent, we use your personal data to get to know you. Even with little or no credit history, we can make lending decisions based on you and make sure we are confident that you can afford to repay. That’s where Open Banking comes in. It also allows us to make sure your payments are reflective of your salary changes.
Regardless of whether your payments go up or down over the period of the agreement, you will repay the same amount as you would pay if your payments didn’t change.

We are a direct lender, but you may have been introduced to us by a broker or through a comparison website (a form of broker).
Any such broker or comparison website will also be regulated by the Financial Conduct Authority.

Your monthly repayments are a fixed percentage of your net salary based on your loan amount and profile. The fixed percentage never changes but will adjust in line with increases or decreases in your monthly net salary. Your last instalment may be less to ensure that you do not pay more than originally quoted

We will put in place a minimum monthly payment which will override the percentage of net salary used should your salary drop beneath this level. You will always pay the same total amount repayable, so the number of instalments will increase in line with any salary decreases you receive over the duration of the agreement.

No.

No. Our minimum loan period is 12 months.

No, we are 100% online.
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GOCAP is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 958804. GOCAP is also registered with the Information Commissioner's Office (ZA874067). GOCAP takes great care to protect the privacy and security of your data, complying with GDPR and other data privacy standards.