Credit Approval

What is the process to get credit approval?

To obtain a loan, prospective borrowers are required to go through a procedure known as credit approval. A lender will evaluate a borrower’s capacity and desire to repay a loan on time, including interest and the principal amount. This evaluation will take place throughout the underwriting process. These statements will include the client’s balance sheet, income, and cash flow statement. Additionally, the lender will look at inventory turnover rates, debt structure, management performance, and market conditions. A borrower’s total outstanding debt, the quantity of the loan they seek, the period of the loan they request, and the number of times they borrow money are all additional considerations.

Spark Credit helps you to get credit approval.

We believe everyone should have an opportunity; we give Credit Approvals to the customers, even if they have:

• No credit history
• Bad credit history
• Multiple open auto loans
• Self-employed income
• Fixed income
• Unemployment income
• Temporary income
• Multiple repossessions