- Giving an option about your financial situation and type of loan that you need
- You will be assigned a loan grade for how potential lenders how high risk or low risk you are. Based on this grade, they will decide if they want to lend you money
- A borrower now provides the requested documentation
- Once the loan approved, the loan money is wired into the borrower’s bank account, usually with two business days.
- After that, if your loan is funded, you receive the money electronically and repay the loan with automatic electronic payments
You build credit as you repay your loan. If you pay late or default on the loan, your credit will suffer, so make payments a priority!
