by crispin0 | Jul 5, 2025 | Uncategorized
A credit check is the process of reviewing the borrower’s credit history to assess their creditworthiness. Loan apps often perform a soft or hard credit check to decide whether to approve the loan and set terms.
by crispin0 | Jun 27, 2025 | Uncategorized
Collateral refers to an asset pledged by the borrower to secure a loan. If the borrower defaults on the loan, the lender can seize the collateral to recover their losses. Common types of collateral include property, cars, and financial assets.
by crispin0 | Jun 21, 2025 | Uncategorized
Cash limit refers to the maximum amount a borrower can withdraw or borrow through a loan app. This limit can be determined by the borrower’s credit score, income, or repayment history.
by crispin0 | Jun 12, 2025 | Uncategorized
The borrower is the individual or business applying for the loan. Borrowers are required to meet certain criteria, such as a minimum credit score, before they are eligible for approval.
by crispin0 | Jun 6, 2025 | Uncategorized
APR represents the total cost of borrowing, including interest and fees, expressed as an annual percentage. It provides borrowers with a clear understanding of the cost of a loan over a year. A higher APR indicates a more expensive loan.
by crispin0 | Jun 3, 2025 | Uncategorized
This is a fee charged by lenders for processing a loan application. It covers the administrative costs of reviewing and processing the borrower’s request. Not all loan apps charge an application fee.
