How to Increase Your Chances of Getting Your Personal Loan Approved

How to Increase Your Chances of Getting Your Personal Loan Approved

September 20, 2022

Unlike a business loan, securing a personal loan online can be fast and easy. It may be approved in 30 minutes or within 24 hours. Educate yourself before applying for unsecured loans. A lot of scammers will prey on persons that needed money badly. Applying through JNA Financing, secured websites, and dealing with a trusted person will ensure you avail of your loan.


Also, Read: Things To Consider Before Applying for a Loan in 2022


Most lenders will evaluate your credit. This will include your payment history, your income, and your borrowing history in order for them to determine what they can offer you.

Do I need Collateral?

Personal loans do not require collateral to avail loans. However, you might pay higher interest because lenders cant get any collateral from you if you stop paying.


How about my Income?

Most lenders will verify that you have enough revenue or income to know if you can repay your loans. They will ask for your employment payslip and records. By this, they can estimate what they can offer to you based on debt to income ratio.


Credit Worthiness

They will review your credit score or get your credit score to know what is your borrowing history. This will include late payments if there are any, your previous loans, and any public documents that the lender will require you to provide. Also, lenders might review your utility payments and rent as an alternative.


At JNA Financing business loans, we provide you options even if you have a minimum credit score. A score ranging from 500 to 650 or even a minimum. Whether you have recent bankruptcies, we will consider your annual earnings and how long you operate your business.

However, this will result in higher interest on your loans. We provide for business owners. If you are a start-up, we can finance your company to grow your business. We provide a business line of credit to sustain a cash flow gap and securing is easier than other lenders.

We also offer Merchant Cash Advance, Line Credit, Inventory Loans, SBA Loans, A/R Factoring, Equipment Financing and Business Loans backed by Real Estate.

Initial Submission Documents in 4 easy steps

1. 4 Most recent months of business bank statements.

2. 4 Most recent months of credit card processing statements (if applicable).

3. Signed and dated Application.

At JNA Financing, we care for you and your business. If you are ready to secure a loan, head over to our JNA Financing application form to get started.


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