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This is to inform the public that AND Financing Corporation doing business under the name and style “etomo” (formerly “LendPinoy”) is NOT IN ANY WAY connected or affiliated with the “LendPinoy” app currently found and downloadable in Google Playstore.

Please be informed that AND Financing Corporation is no longer using the trade name “LendPinoy” in doing business, but it DID NOT authorize the developers of this “LendPinoy” mobile app to use the “LendPinoy” trade name, which the company still owns.

Any and all attempts of the developer of this “LendPinoy” mobile app to associate itself with AND Financing Corporation is UNAUTHORIZED and FRAUDULENT. Hence, we strongly urge the public to not in any way access or deal with this mobile app.

Please refer to our Facebook page to know more about it.

10 common reasons you may get rejected from a loan application

When applying for a loan, it’s essential to be aware of the factors that can influence the lender’s decision. While each lender has its specific criteria and risk assessment, certain common reasons can lead to loan rejection. Understanding these factors can help you prepare a stronger loan application. Here are ten common reasons you may get rejected from a loan application:

  1. Low Credit Score: A low credit score is one of the primary reasons for loan rejection. Lenders use your credit score to assess your creditworthiness. A history of late payments, defaults, or a lack of credit history can result in a low credit score.
  2. Insufficient Income: Lenders want to ensure that borrowers have the financial means to repay the loan. If your income is too low in relation to the amount you’re requesting, it can lead to rejection. Lenders typically have specific income requirements for different types of loans.
  3. High Debt-to-Income Ratio (DTI): Your debt-to-income ratio compares your monthly debt payments to your monthly income. A high DTI indicates that you have a significant amount of debt relative to your income, which can raise concerns about your ability to manage additional debt.
  4. Incomplete or Inaccurate Documentation: Providing incomplete or inaccurate information on your loan application can lead to rejection. Ensure that you provide all required documents, such as proof of income, identification, and address verification, accurately and completely.
  5. Unstable Employment History: Lenders often prefer borrowers with a stable employment history. Frequent job changes or long gaps in employment may make lenders hesitant to approve your loan application.
  6. Age and Eligibility: Some loans, especially personal loans and credit cards, may have age restrictions. If you don’t meet the lender’s age requirements, your application may be rejected.
  7. Existing Debt: If you already have a significant amount of debt, it may affect your eligibility for additional loans. Lenders consider your existing credit obligations when evaluating your application.
  8. Loan Purpose: Ensure that your intended use of the loan funds aligns with the lender’s policies. Some lenders may have restrictions on how the loan proceeds can be used.
  9. Lender’s Policies: Different lenders have varying risk appetites and lending criteria. Even if you meet the general requirements for a loan, a specific lender may have stricter policies that result in rejection.
  10. Legal Issues: Legal problems such as bankruptcy, ongoing legal disputes, or outstanding judgments can impact your ability to get approved for a loan.

To improve your chances of loan approval, it’s essential to maintain good credit, manage your debts responsibly, and carefully review the eligibility requirements and policies of the specific lender you are applying to. If your loan application is denied, consider reaching out to the lender to understand the specific reasons for rejection and explore ways to address those issues before applying elsewhere. Being well-prepared can increase your likelihood of securing the loan you need.

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