When applying for a loan, there is a possibility that your application may be declined, even if you have been accepted for a loan by us in the past. Short term loan approval is based on a number of factors, and we have many elements to assess and consider when deciding whether or not to approve your loan request.
When Lending Stream is in the process of making an approval for a short term loan, the decision isn’t immediate; this is because as a responsible lender, we carry out personalised checks on every applicant before a decision is made. If you have been accepted for payday loan approval in the past, you may assume that a short term loan approval with Lending Stream is similar and it will be made on your application very quickly. However, Lending Stream sees every applicant as an individual, meaning our short term loan approval can sometimes take a little longer than expected.
If information we receive from a credit reference agency is a factor in denying your application, we'll let you know the name of the credit reference agency by email, so you can check your credit file with them if you wish. If you have experienced a quick payday loan credit check in the past, this differs from short term loans with Lending Stream. It is quite a complex process, and unfortunately, our customer service representatives don't have access to why a particular application is declined.
If you would like further information, you can read more about the short term loan process with Lending Stream and how it differs from common payday loan decisions on our How It Works page. Alternatively, you can get started with our loan application process.