Can loan lender refuse loan?
There is a perception that the microfinance organization will give money to anyone, but it’s not quite true. In most cases, it is easy to borrow money from a microfinance organization.
Loan staff lender not check the creditworthiness of the client, do not require borrower guarantors and certificates. However, as in any financial organization, there are cases where loan lender refuses to its clients: Loan staff lender may refuse for example to minors, the credit will require a passport. If you want to receive a second loan, you may not have paying obligations under a previously concluded contract. Even if the payment deadline has not yet reached. If the borrower provided invalid documents, the loan will be refused. Customers who have outstanding debts to other microfinance organizations or banks. It follows from the foregoing that members of a microfinance organization may refuse to borrower, if there are indications that there is a high probability of non-repayment of the microloan. As a rule, in any other case, borrower will be granted a positive decision to grant him money.