by crispin0 | Jul 3, 2025 | Uncategorized
Risk-based pricing involves adjusting the loan’s interest rate based on the borrower’s creditworthiness and risk profile. Lenders use credit scores and other financial data to determine the price.
by crispin0 | Jun 14, 2025 | Uncategorized
An instant loan is a loan that offers quick disbursement, sometimes in as little as an hour. Online lending apps often provide instant loans with minimal documentation and fast approval processes.
by crispin0 | Jun 11, 2025 | Uncategorized
Loan servicing refers to the management of a loan after it’s issued. This includes collecting payments, processing requests for modification, and providing customer support.
by crispin0 | Jun 8, 2025 | Uncategorized
Debt recovery is the process of collecting owed funds from a borrower who has defaulted on their loan. It can involve negotiating a payment plan or pursuing legal action.
by crispin0 | Jun 5, 2025 | Uncategorized
The payment due date is the date by which the borrower must make their scheduled loan payment. Missing this date can result in penalties, fees, or negative impacts on the borrower’s credit score.
by crispin0 | Jun 2, 2025 | Uncategorized
A loan tracker is a feature in some loan apps that allows borrowers to track their loan status, upcoming payments, and remaining balance. It helps borrowers manage their debt more effectively and stay on top of their repayments.
by crispin0 | May 24, 2025 | Uncategorized
This is a fee charged by lenders for processing a loan application. It covers the administrative costs of reviewing and processing the borrower’s request. Not all loan apps charge an application fee.
by crispin0 | May 20, 2025 | Uncategorized
Cash flow refers to the movement of money into and out of a borrower’s account. Lenders consider cash flow when approving loans, as it indicates the borrower’s ability to make timely payments.
by crispin0 | May 16, 2025 | Uncategorized
A fast loan is a quick, short-term loan offered through online lending apps. These loans are typically processed and approved within a few hours or days, making them ideal for urgent needs.
by crispin0 | May 14, 2025 | Uncategorized
A late fee is a penalty charged when the borrower fails to make a loan payment by the due date. These fees can accumulate and increase the total cost of the loan.
by crispin0 | May 11, 2025 | Uncategorized
A late payment fee is a charge that a lender imposes when the borrower fails to make a scheduled payment on time. These fees can add up quickly and increase the total cost of the loan.
by crispin0 | May 8, 2025 | Uncategorized
A lending platform is an online marketplace where borrowers can apply for loans and lenders can offer funds. It often facilitates peer-to-peer lending, where individuals lend to other individuals.
by crispin0 | May 5, 2025 | Uncategorized
Default occurs when a borrower fails to make scheduled loan repayments as outlined in the loan agreement. If the borrower defaults on a loan, the lender may initiate collections or take legal action to recover the money owed.
by crispin0 | May 2, 2025 | Uncategorized
Loan modification involves changing the terms of an existing loan, often to reduce the borrower’s monthly payments or extend the repayment period. This option is sometimes offered by online lending apps to borrowers in financial difficulty.
by crispin0 | Apr 29, 2025 | Uncategorized
Loan refinancing involves replacing an existing loan with a new one, usually at better terms. This may include a lower interest rate, extended loan term, or reduced monthly payment. It’s often used to manage debt or improve financial conditions.
