GoodCash is a financial service provider in Sweden, offering a range of loan products to consumers. They provide loans ranging from SEK 5,000 to SEK 50,000 with repayment periods extending from 12 to 96 months. The interest rate for these loans is set at 29%. Applicants must be at least 20 years old to qualify for a loan from GoodCash.

The company offers various types of loans, including short-term, long-term, and personal loans. An illustrative example provided shows that for a loan amount of SEK 30,000 with a 60-month repayment period, the effective annual interest rate is 29.00%, with a nominal fixed annual rate of 25.74%. The monthly repayment amount in this scenario would be SEK 894, leading to a total repayment amount of SEK 53,640 over the loan term. This example highlights the total cost of credit as SEK 23,640 over the repayment period.

GoodCash differentiates itself by focusing on the borrower’s future financial potential rather than their past financial history. This approach is particularly notable in their willingness to consider loan applications from individuals with previous payment remarks, which is not always the case with traditional financial institutions in Sweden.

The application process with GoodCash is streamlined and digital. Applicants can use BankID for a swift application process, and the company promises a rapid response, often on the same day. There are no annual fees or setup charges associated with their loans, and customers have the option to settle their loans early without incurring additional costs.

GoodCash positions itself as a more secure alternative to payday loans, with funds typically deposited into the customer’s account within two banking days. Their approach is aimed at providing a user-friendly, accessible loan service that emphasizes flexibility and convenience for the borrower.