Need a little financial breathing room? Whether it’s an unexpected life event or a planned expense, getting a personal loan can help you in your moments of need. There’s many factors that affect whether or not you’re approved for a loan, but taking these factors into account can help better your chances!

You should check what credit rating your lender requires, and then check and make sure you meet this requirement. If you’re unsure if you meet the requirement, check with your lender before you apply. Check out information for what to do if you don’t meet the USCCU’s credit requirements here.

When taking out a personal loan, there may be restrictions on what you can use your loan for. Make sure to ask your lender about what the personal loan you’re applying for can and can’t be used for before applying.

The requirement for each lender and even for different kinds of loans can be very different, so make sure your income meets the requirements of your lender. This information is usually made readily available when applying for the loan, but you can always check with your lender if you’re unsure you qualify.

Only apply for what you need to cover your particular expense, and only borrow what you can pay back. If your income isn’t enough to feasibly pay back what you borrow, your chances of being approved will decrease.

Make sure all of the details and information on your application are correct. Make sure you fill your application out entirely and with attention to detail to avoid being denied on account of a small application error.  

Source: https://www.finder.com/avoid-personal-loan-rejection

This summer, don’t let anything hold you back from reaching your goals. With a summer loan from the USCCU, you can tackle your big summer projects, take the vacation of your dreams, or handle one of life’s little surprises.