Understanding when you should get information about your Possible application

 

Contents of this Page

1. What is the status of my application?

2. Common reasons applications are delayed

3. How will I be notified about my loan application?

 

What is the Status of My Application?

Possible does its best to reach a decision on each application within 24 hours, but there may be a delay if application volumes are exceedingly high or if more information is needed to finish our review.

If we need more information, you will receive a notification in the app. It may be helpful to keep your push notifications on so you are alerted right away. Once you complete the request, we can continue reviewing your application.

We review applications 7 days a week. If your application has been pending for more than 48 hours and you have completed all requests in the app, please reach out to our customer success team

NOTE: If you do not complete a request for more information within 7 days, your application will automatically expire. Don't worry, you are always welcome to reapply!

 

Common Reasons Applications Are Delayed

  • There's an error with your personal information (legal name, date of birth, address, or SSN) that needs to be corrected.
  • Your ID photo needs to be retaken because it isn't clear.
  • Your proof of residency is an invalid document or is not dated within the past 30 days.
  • We're having connectivity issues with your bank account.
  • The bank account you have linked isn't supported.

 

How Will I Be Notified About My Loan Application?

Once a decision has been made on your loan application, you will receive a notification from the app.

We recommend leaving your push notifications on so you receive the notice right away.

If your loan is approved:

  • You'll have a chance to look over your loan offer, payment dates, and our terms of service before accepting the loan offer.
  • The loan offer will automatically expire if it is not accepted within 3 days. If your loan offer expires, you're welcome to reapply. We cannot guarantee you will be offered the same amount after you reapply.

If your loan is denied:

  • You will receive an email detailing the reason for the denial at the email address you used to register with.
  • You are welcome to reapply within 72 hours.
  • Please see the Denials section for more information on denial reasons and what is evaluated when applying for a loan.
Was this article helpful?
9 out of 13 found this helpful

Comments

0 comments

Article is closed for comments.