This is something you should not expect to find at all. In the past, not all lenders looked up those who wanted to take a micro loan, but this is no longer the case. Lenders must do a credit check. If they fail to do so, they will not follow the rules imposed on them as lenders.
That the lenders do a credit check should be
Seen as something positive as it only means that they look up if the economy is strong enough to be able to borrow the money or not. If this test shows that there are not sufficiently large financial muscles, it is also not a good idea to borrow money as this can lead to much bigger problems in the future.
Therefore, if you are denied a loan, you should ask yourself why this lender does not think you are a good enough customer for them to want to lend money. Their goal is not to deny applications if they think the applicant’s finances are good, since then they do not make any money. Maybe this is a sign that you should not borrow any money.
Differentiates different lenders is their way of testing
Whether someone should be approved or not. Many lenders, for example, automatically reject an application for active payment remarks. Others approve these applications if the economy is otherwise good. It is often the larger banks that have rules that say that applications from persons with complaints should not be approved.
Now it should be said that it can be possible to borrow from these too if there are remarks, but this is not common and a personal meeting is then required where you explain your situation. However, do not expect to be approved even if your finances are very good. If you have complaints, it is instead the lenders who have focused on these types of customers that are the biggest chance.
Then there may also be differences
In the requirements that are made depending on the size and type of loan. It goes without saying that there is no need to impose as stringent requirements on someone who is to borrow USD 10,000 as someone where a loan of 5,000,000 is on the wallpaper. If there is something that can stand as collateral (eg a house) this also affects what requirements are set.
All in all, a credit check is therefore a good thing as it is to secure the borrower’s finances. This is something that both the borrower and the lender benefit from.