How does online credit analysis work?

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Every time a person applies for a loan, be it personal, financing, or otherwise, he goes through a credit analysis. Credit analysis is nothing more than a verification of the institution that will award value on the risks of lending money to you.

In Lite Lender’s case, there is also a great consideration of the client’s financial health during credit analysis. For this, we have a strong focus on customer income commitment.

 

How it works at Lite Lender

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Lite Lender credit analysis takes place from the moment you start your order on the site. In the first step, what happens is a pre-analysis in which the data informed in the site form is considered.

At this time there is only data validation by our credit engine that will evaluate your information and tell you if you have a pre-approved credit with us and what your rate is. The conditions from one customer to another will always be different.

The amount of the loan installments and how much it will compromise your stated monthly income is also a consideration when applying for a loan. Our mission is not to damage the financial health of the borrower.

Another difference is that Lite Lender immediately shows your CET (Total Effective Cost). Many finance companies show the interest rate and, just in the end, the CET, which is the sum of all loan costs, such as mandatory taxes, for example. Here you know exactly how much you will pay once it is approved.

That is, Lite Lender does work, but all information received is carefully evaluated before the loan is approved.

 

Pre-analysis data

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In order for us to pre-analyze the client’s credit, he must register on the Lite Lender website stating:

  • Full name
  • Date of birth
  • CPF
  • Mother’s full name
  • Loan Reason
    • Loan Submotif
  • Current Occupation
  • Monthly salary or income
  • Extra income (if any)
  • If you are negative
  • Contact email
  • Contact Mobile
  • Password for you to use on the site
  • Accept the Terms of Use and Privacy and Credit Policy

After completing this data, you must click on “View my review” and then it will be taken to the page where you will find out whether or not it has been pre-approved on Lite Lender. If so, you will know your rate and your credit limit and move on to the documentation submission stage that proves the information you provided.

If your loan request is denied, we will ask you a few more questions to see if there is a Lite Lender partner who can assist you.

 

Data for Credit Analysis

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The client who is pre-approved and moves to the documentation submission phase has his / her data validated in the credit analysis phase. It is performed by our credit team who checks that all data is correct and confirms that there will be no income compromise that could harm your financial health.

This phase is also very important to make sure no one is trying to misuse your data. It is more protection for the customer who wants to take a personal loan online.

We request the following documents at the credit review stage:

  • Personal Documents: Selfie carrying an ID such as ID or CNH
  • Proof of residence: Consumer bills such as credit card, phone, electricity or water bills are accepted here
  • Proof of income: This document may vary depending on your occupation, but you may be asked for pay stubs, last 90 days bank statement, IRPF statement and / or some supplementary document.
  • Bank Credit Nodes (CCB) : The loan agreement is digitally signed and it validates your online loan application.

After approval of the documents, simply confirm the information, sign the contract digitally and wait for the deposit. It is made on the same day generated until 14h and signed until 15h (Brasília time).

 

Important to remember

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We sometimes receive messages from customers who have questions about why they have not been approved even if they have a clean name or after submitting the documentation. Thinking about it, here you find the main reasons for having a loan application denied.

It is also important to Nodes that we do not ask for any advance amount for the credit.

Have questions about how our credit analysis works? Leave your question in the comments or send us a message through our Facebook page . You can place an order and perform a no obligation analysis. If you don’t like the conditions, just let the order expire after a few days. Let’s simulate?

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