Documents You May Need When Applying For A Loan

Prepare These Documents When Applying For A Loan!

Below is a list of 5 documents you may need to start a loan application.

The loan application process involves an evaluation of the borrower’s ability to pay for the loan. Thus, lenders typically ask for documentation in order to do this and to ascertain the borrower’s identity.

Whether you’re applying for a car loan or an allotment loan, these are the documents you will most likely need for an employee loan program application.

1. Identification Card

Lenders need to verify your identity before they approve your loan to avoid loan application fraud. To prove your identity, you will need to show an identification card. The best ID to show is your driver’s license, but if you don’t have this, your Passport or Voter ID Card will do.

2. Residence Address Proof

Lenders also ask for your address for a variety of reasons. Proof of residence helps lenders verify your identity as well as evaluate your eligibility for a loan. You can use a recent utility bill, a bank statement, a receipt or tax invoice from a local authority, or your Passport as residence address proof.

3. Proof Of Income

Your pay stub serves as proof of your income, which is vital in verifying your employment and in evaluating your eligibility for the loan. Employees should get their pay stubs from their employers. 

4. Photo 

Lenders require a separate picture for verification and documentation purposes. Different lenders have different requirements for the type of photo they need. We require only a selfie!

5. Filled Out Application Form

You need to fill out the application form, which will ask for basic information about you, such as your name, address, age, place of employment, marital status, and so on. 

Applying For A Loan With Us

Applying for an employee loan program has never been easier. The application process is done completely online. It’s simple and fast and requires minimal requirements. If you are a federal employee or a public sector employee, you are eligible to apply for Access Loans’ employee loan program. 

Once you have filled out the application form, you will be asked to provide the documents mentioned above—your identification card, proof of address, pay stub, and a selfie. We will not check your FICO score at the time of application, so you don’t need to worry if your credit score recently declined. 

Here are the steps: 

1. Fill out the application form on any device. 

2. Set up your allotment for stress-free repayment. The Access Loans app will guide you through this process.

3. Sign your loan and get your money once approved!

With a simple process, the application only takes 1 to 2 business days, which means you will most likely receive your funds in the same week or even within the same day of your approval (if you were approved before noon).

Enjoy low-interest rates and flexible repayment terms with us. Apply for the employee loan program now.

Looking For A Good Lender?

If you’re reading this, then you don’t need to look any further. We meet all these criteria for a quality lender for government employees.

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