Have you ever applied for loan then got rejected?

[Abdul01]

Sometimes our loan application might be rejected due to some reason which includes but not limited to low source of income compare to the amount you needed,a mismatch between what you need the loan for and the lender's loan purpose requirement, unstable employment and so on..
Have your loan application ever been rejected??
What is the reason for the rejection?

 

[Heatman]

I have not applied for any kind of loan for any reason whatsoever. I'm not a fan of getting loans for business purposes. I like using my saved money to do business.

 

[cherry123]

No I'm yet to try out loan getting. I don't know I try not to delve into loan borrowing. I prefer to use my savings or borrow from close people

 

[Stardom22]

In my country there are so many loan applications. However I have a couple of those apps that can loan me and I have worked with them for a longer period of time by now. However whenever I try to get a loan from a new app, I am always rejected.

 

[Springtime]

The only time I got a loan was when I bought my apartment years ago. I applied for a mortgage loan. As I had a full time job, stable income, and good credit rating, my application was accepted.

 

[Abdul01]

In my country there are so many loan applications. However I have a couple of those apps that can loan me and I have worked with them for a longer period of time by now. However whenever I try to get a loan from a new app, I am always rejected.

Ohh, What could then be the reason why you got rejected??. Could it be that you didn't submit the necessary documents for verification process, or maybe they want to get acquainted with you first.

 

[aovurevu]

Well, actually I don't really borrow loans and I have not done that in past years , but sometimes I used to get my mobile data subscription on credit on my mobile bank app and then pay later.

 

[Sanjeev]

I never applied for a loan, now I am thinking of taking a loan from the bank because I am thinking of buying a house to give on rent for my passive income.

 

[Niyi Briggs]

"We don't finance start-ups. Go and run your business for a year and come back for a loan".
That's the line I always heard
from banks anytime I went to apply for a loan to use and start my business. I had to save funds to start my business and it paid off.

 

[Stardom22]

Ohh, What could then be the reason why you got rejected??. Could it be that you didn't submit the necessary documents for verification process, or maybe they want to get acquainted with you first.

I usually submit the same documents and details for the new apps that I intend to borrow from as the same as the ones I use in the old apps.

 

[olaniyi]

Yes I once applied for a non interest student loan when I was in school to start a business but I was rejected because a number of people requested but people are later choosen base on some hiden criteria

 

[IB D]

I usually submit the same documents and details for the new apps that I intend to borrow from as the same as the ones I use in the old apps.

It could be that the different apps have different policies for giving out loans. Some might be requiring a high credit score while others may be cool with a lowered credit score.

 

[Abdul01]

Yes I once applied for a non interest student loan when I was in school to start a business but I was rejected because a number of people requested but people are later choosen base on some hiden criteria

Ohh, this happens too , it could be based on what you filled on your application form and they might really want to give those that needed it badly and not just anyone applying .

 

[Shavkat]

I did not experience this because I have not tried to apply any loans in my entire life. It is not because I am not qualified. I just do not want to be in debt due having loans.

 

[Etini Willie]

Y

I did not experience this because I have not tried to apply any loans in my entire life. It is not because I am not qualified. I just do not want to be in debt due having loans.

You have really tried to pursue and hold on to this stance. I shared this same stance for a long period it time but I had to budge when it became apparent I couldn't sustain it. I have been turned down from loans several times by various financial institutions.

 

[Yohanna]

I applied for loan in a bank and I was rejected . This is why I do not like to apply for loan as I prefer to invest with an amount that I can afford at that particular moment.

 

[fcbetting]

Thank God I just had one loan and I paid it before deadline. I was not rejected since it was small loan and I have good salary with stabile job. I didn't need anymore loans so far but I will need in future.

 

[eldavis]

No i have never applied for a loan before though and i really hope i do not find myself in a situation where i would have to take loan. Though these days there are apps that makes it a lot easier to get loans.

 

[flower]

I have been rejected multiple times when I applied for loans. The basic reason is that most of the requirement to meet are difficult and once these are not met, it'll be difficult to take the loan.

 

[IB D]

Some institutions are very strict with their loan approval and disbursement. They would double check and be sure you are in a strong financial position to pau back the loan. And some wouldn still deny you the loan and tell you to try again.