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In the processing of loan applications, for example, the inputs may represent loan applicant profile data and the output whether to grant a loan.
One factor for lenders assessing risk is the type of college a loan applicant will attend.
The investor asked a successful loan applicant if he was comfortable with Lenddo being able to see emails he'd sent to his girlfriend.
In the changes announced this week, the S.B.A. would relax its affiliation rules, which are meant to ensure that a small-business loan applicant is not in fact controlled by a larger (and ineligible) company.
This rule essentially requires investors with at least a 20-percent stake in a loan applicant and a lot of cash on hand to inject some of that cash into the business before the company can get a loan.
In this risk-averse lending climate, mortgage lenders are unabashed in their demands for detailed documentation of a loan applicant's financial situation.
Similar(37)
Instead of having to "prepare" a loan application, applicants have their data — income, debt, savings — pulled from elsewhere in the system.
Mr. Martins said Erie had offered a gift card to loan applicants for evaluating the application process whether or not they ended up doing business with the company.
"Lenders set the rates and fees and all loan applicants participate in a financial education module as part of the online loan application process," Johnston says.
The bankruptcy of the solar company Solyndra last summer also hampered the efforts of auto loan applicants, according to executives of firms that have dropped their applications.
Nine out of ten loan applicants use a mobile phone.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com