For all loan applications except for Credit Building Loans, CEO requests supporting financial documents such as bank statements, pay stubs, a family budget, and other relevant documents depending on the loan type. Submission of an application will result in a hard inquiry credit check as CEO will review an applicant's credit profile and history. CEO’s Internal Loan Committee will review the information from these documents and inquiry. Applicants are then rated in each of three categories:
- Banking & Savings
- Income & Budget
- Credit and Debt
Here are some factors that help the loan committee to make a loan decision.
You can read more about our policy here