A huge increase was seen in 2015 and more economic challenges are expected in the coming year, reports CaptainCash.ca
Vancouver, BC -- (SBWIRE) -- 12/08/2015 -- Captain Cash forecasts an increase in demand for cash loans in 2016, based on the huge increase seen this year. Economic challenges are expected to continue, leading to the need for more people to borrow cash. As more people are now aware of these loans and the many uses of the financial product, they are finding a captaincash loan to be a viable alternative when the bank says no.
"The application process is easy, as individuals may apply online or by phone, and the entire process takes only five minutes, if that long. Certain criteria must be met to be eligible for the loan, but most people do qualify. Those who are approved for a loan find they have the money in their account in no time at all," the Captain Cash staff explains.
The Bank of Canada recently warned that the household sector is vulnerable. This is due in large part to climbing debt levels resulting from low borrowing costs, as household debt relative to income has now reached a record high. Individuals need to manage their debt carefully to ensure they do not take on more than they can pay, as this could leave them at risk in the event of a financial challenge.
"Cash loans need to be used responsibly to ensure the consumer does not find him or herself in a vicious cycle, one that leads to the need to take out a new loan as soon as an existing one is paid off. Cash loans benefit many when they find they have a short term financial crisis, yet they should not be used to rectify long term financial difficulties," the captaincash staff continues.
The Canadian oil and gas sector is expected to lay off more individuals in 2016, and credit and loan delinquency rates have been on the rise in certain parts of the country. These are just two examples of where the Canadian economy isn't thriving, and there are numerous others. When a person requests a cash loan, they need to ensure they can pay it off in a timely manner and that the loan won't create more problems than it solves.
"Responsible borrowing is key when a consumer takes out any loan, not just those of the short term variety. No one can predict the future. An individual who has never needed a cash loan may find they must have one in 2016, and those who have been using cash loans routinely might find their financial situation improves and they have less need for this financial product. Be prepared for any eventuality, and know Captain Cash is here when quick cash is needed. We are happy to help individuals in their time of need," the Captain Cash staff declares.
About Captain Cash
A brokerage company dedicated to finding cash loans for clients with both good and bad credit, Captain Cash prides itself on amazing customer service. The company's mission is to meet and surpass the needs of clients and, with Captain Cash, it's quick, simple and easy.