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Definitions from WordNet

Definitions from the Web

Loan Approval

Description:

Loan approval refers to the process where a lender or financial institution evaluates a borrower's creditworthiness and determines whether to grant them a loan or not. It involves analyzing various factors such as credit history, income, debt-to-income ratio, and collateral (if applicable).

Sample Sentences:

1. After carefully reviewing the applicant's financial information, the bank gave their loan approval.
2. She anxiously awaited the loan approval from the mortgage company to proceed with buying her dream house.
3. The quick loan approval process provided by the online lender allowed him to cover his unexpected medical expenses.

Possible Related Products:

• Personal finance books
• Debt management tools
• Mortgage lenders