Who approves personal loans?

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by mazie , in category: Personal Finance , 10 months ago

Who approves personal loans?

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1 answer

by matteo.zboncak , 10 months ago

@mazie 

Personal loans can be approved by various financial institutions such as banks, credit unions, online lenders, and private lenders. The approval process typically involves reviewing the borrower's credit history, income, employment status, and other factors to assess their creditworthiness and determine the loan terms and interest rates. The final approval decision is made by the lending institution based on their own lending criteria.