by crispin0 | Jun 12, 2025 | Terminologies
Cash limit refers to the maximum amount a borrower can withdraw or borrow through a loan app. This limit can be determined by the borrower’s credit score, income, or repayment history.
by crispin0 | Jun 11, 2025 | Terminologies
A cash reserve is money set aside for future expenses or emergencies. Some lending apps offer loans that can be repaid using a borrower’s cash reserve or savings account.
by crispin0 | Jun 10, 2025 | Terminologies
Collateral refers to an asset pledged by the borrower to secure a loan. If the borrower defaults on the loan, the lender can seize the collateral to recover their losses. Common types of collateral include property, cars, and financial assets.
by crispin0 | Jun 9, 2025 | Terminologies
A cosigner is someone who agrees to take responsibility for a loan if the borrower defaults. A cosigner with good credit can help a borrower secure a loan with better terms or approval if the borrower has limited credit history.
by crispin0 | Jun 8, 2025 | Terminologies
A credit check is the process of reviewing the borrower’s credit history to assess their creditworthiness. Loan apps often perform a soft or hard credit check to decide whether to approve the loan and set terms.
by crispin0 | Jun 7, 2025 | Terminologies
A credit score is a numerical representation of a borrower’s creditworthiness, based on their credit history. It is used by lenders to evaluate the likelihood that the borrower will repay the loan. Scores range from poor to excellent, with higher scores indicating...
