A loan is a financial arrangement where a lender provides funds to a borrower, who agrees to repay the borrowed amount along with interest over a specified period.
Eligibility criteria for loans vary depending on the type of loan and the lender. Common factors include credit score, income, employment history, and debt-to-income ratio.
To improve your loan approval chances, work on maintaining a good credit score, reducing existing debts, and ensuring a stable income. Also, shop around for lenders to find the best terms.
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