What are the eligibility requirements for a loan?

Asked 7 months ago
The eligibility requirements for a loan with Solution Loans are relatively straightforward. To apply, you must be at least 18 years old and a legal resident of the United States. Additionally, you must have a regular source of income, whether it be from employment or benefits. The minimum income requirement varies depending on the loan type and lender. You should also have a valid checking account in your name, as this is where the loan amount will be deposited and repayments will be collected from. Meeting these basic eligibility criteria does not guarantee loan approval, as each lender has their own set of additional requirements and conducts their own assessment of the applicant's creditworthiness. However, Solution Loans aims to help find suitable loan options for a wide range of borrowers, including those with less-than-perfect credit.
Jeff Whelpley is the editor / author responsible for this content.
Answered May 3, 2024

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