Main Requirements to a Borrower

Americans often struggle to apply for micro credit. This moderate financing helps people with small income. Some people take personal loans to pay for medical services. It is not that easy to get a payday loan in the United States. Payday loans borrowers have to prepare the whole package of documents. Not all Americans can easily gather basic papers.


There are many financial firms that distribute financial crediting. It is better to apply at the joint platforms. These are companies that facilitate crediting issuance. They receive a loan request. After it, they send this request to many financial companies.

Lending firms analyze profiles of an applicant. They ask to add several documents. These papers are obligatory to present:

  • Passport copy. Short term crediting is issued to Americans only. If one does not have this paper, personal loan will not be issued for sure.
  • Income record. It is one of the most important financial documents. It states what amount of salary applicant receives. Lending companies are determined to issue a loan to people who have a high salary. If one has a good monthly income, the chance he will return the money is much higher. Lending companies understand it.
  • Employment contract. This is a paper that has to be presented to lending companies as well. The longer an employment contract is, the better it is. Lending companies take into account a name of the employee. If it is a well-known company, it has stable earning. It means it pays salary to people on a regular basis.
  • Credit history. Lending companies want to provide a loan to reliable people. The higher a credit score is, the better. This indicator is assigned by financial bodies in the US. It testifies how well a person knows to pay credit money back. If one did not pay off the previous loan in time, he/she gets a low score. If he/she returned credit in time, the score is higher. There is no chance to get a credit line, having a low score.
  • Statement on other micro credit provided. Some Americans take several loans. In this case, a borrower has to report it to next lending companies. If an applicant has several loans, the chance he will pay credit in time is lower.

These are the main papers that have to be presented. It is possible to negotiate with lending firms on some documents. One has to make everything possible to succeed.

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