When applying for a personal loan, you need to make sure you are able to provide all of the information below that a financial institution may require from you.
A loan application must be filled out at the financial institution that you are requesting a loan. An online application, applying by phone or in person are also options that may be available. The application will request the following pertinent information: Full name, address history, date of birth and Social Security Number.
Current and previous employment information are collected and occasionally verified by the financial institution.
Income and Assets
Proof of income and assets are generally required when applying for a personal loan. Collateral, such as home equity, can be used to secure loans.
A credit check is required in order to qualify for a personal loan. The credit report will be reviewed for outstanding debts or late payments.
References are generally required when applying for a personal loan. They are contacted in the instance that the borrower misses a loan payment and cannot be reached.