What Lenders Really Look At Before Approving Your Loan
Ever wondered why your loan applications keep getting rejected, even when you think you qualify?
You’re not alone. Many people face the same frustration without knowing the real reasons behind those rejections.
To help clear the air, we caught up with Otachi, who revealed the secrets lenders actually look at before approving a loan.
Here’s what he had to say (Link to the video for those who prefer to watch: Always Rejected for Loans? ...):
Are you always getting turned down kila unapo apply for a loan? Kuna vitu muhimu sana nataka nikuchanue zenye lenders huwa wanacheki before wakupatie hio doh, and that could be the reason why unakaziwa loan.
1. Cash Flow
Most lenders huwa wanaitisha mpesa statement yako. Hii ndio the best way ya ku-asses your financial health, na the first thing that they look to see ni how much money comes into your account and how much money goes out of your account.
So, hakikisha that money is coming into your Mpesa line, na clients wanatumia hio line moja when you’re making payments instead ya kutumia random numbers—uko na different lines. Coz hio ndio itakujengea statement.
2. Your Loan Repayment Behavior
Next thing wanaangalia ni kama ushawai chukua loans zingine, are you good at repaying them? Do you pay them on time? Timely payment inamaanisha wewe sio risky borrower.
Interested in Jiinue Loans? Check out the application process here: Details Zote Za Jiinue Loan...
3. Your Spending Habits
The other thing huwa wanaangalia is how you spend the money that you get. Kuna two things zenye ni very key.
First, kama wewe ni mtu unapenda betting na gambling, then manze unajichomea vibaya sana. Mtu anapenda story za betting na gambling kwa lenders huyo ni red flag. And so many young people out here are getting turned down because of this particular reason.
Itabidi you avoid betting if you want to have a clean record. Hata kama ni wewe, will you lend money to a gambling addict?
One more thing they check is if unafanya savings. Hii nayo ni plus for you na inamaanisha that you are responsible with your money.
Want to start your savings journey and don’t have a bank account? Chumz could be the way to do it.
Learn all about it here👇🏾