Denials

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General Information

What is being evaluated?

Possible uses a proprietary underwriting system to make decisions. Applications are evaluated on the following considerations:

• Bank account balance
• Minimum weekly income
• Consistency of income deposits over time
• Number of returned checks or insufficient funds (NSF) fees
• Existence of deposits and withdrawals from other lenders
• Previous loan repayment history with Possible
• Monthly cash flow analysis
• Valid identification information

Loans 

What are common reasons my Possible application wasn't approved? 

We wish we could approve every application, but sometimes we have to make tough decisions. Our top priority is to offer loans that are manageable and responsible based on your current financial situation. If we’re not able to move forward right now, please know it doesn’t mean you can’t try again in the future.

The most common reasons we’re not able to approve your loan application:

• Your average bank account balance is low or often negative
• Your monthly income is below the $750 minimum
• We can’t detect at least three months of payroll deposits
• Your account shows a high number of returned checks or NSF (non-sufficient funds) fees
• You have several active loans with other lenders
• You’ve had late or returned payments on a previous Possible Loan
• We were unable to verify your identity
• You are an active duty military member or a family member of one 
• Your state’s lending restrictions
• Your bank account is shared with someone who already has an active Possible Loan
• A duplicate Possible account was found and must be removed
• We weren’t able to securely connect to your bank account to gather enough information

When can I reapply if my Possible Loan wasn't approved? 

You can reapply for a Possible Loan every 72 hours, and your next eligible date is always shown in the app. For step-by-step instructions, watch this video tutorial on how to reapply for a loan.

We understand that financial situations can change quickly. If you’ve increased your income, improved your account balance, or resolved past issues, you’re welcome to apply again. Just open the app and start a new application—most applicants receive a decision within 24 hours.

Not sure how you can strengthen your application? Learn more about what steps you can take to improve your approval chances or watch this video to learn more about the best time to apply. 

Should I reapply for a lower amount?

The amount you select when applying simply tells us the maximum you’d like to borrow and gives us a target to reach for.

When we review your application, we evaluate your financial profile and offer the highest amount we can safely lend, up to the amount you requested. There's no need to apply for less just to increase your chances. 

Here’s how it works:

If you apply for a $350 loan and our system determines that $200 is a better fit for your current financial situation, we’ll offer you the $200 instead. You won’t need to reapply for a smaller amount, it’s built into the process.

Why does a state database restriction mean I can't get approved? 

At Possible, we follow all state lending laws and regulations. Some states use databases to help enforce rules designed to protect borrowers. These rules can sometimes prevent us from approving your loan—even if other parts of your application look strong.

Nevada Residents

We’re unable to approve your loan if it would cause your total loan payments (including this one) to exceed 25% of your monthly income. This rule helps ensure that high-interest loan payments remain manageable.

Washington State Residents

State rules prevent us from approving your application if any of the following apply:

• You’ve had 8 or more small loans in the past 12 months
• You have one or more outstanding small loans in default
• You have one or more outstanding small loans in an installment plan
• This loan would cause you to exceed the state limit of $700 or 30% of your monthly income in total outstanding small loan principal

What can I do if I wasn't approved? 

There are a few steps you can take to strengthen your application. Read more about our tips for getting approved.

In the meantime, if you’re experiencing a financial hardship, you’re not alone—and support is available. FindHelp.org is a free, trusted online resource that helps people across the United States find and connect with local social services and community support programs. You can search for assistance with food, housing, healthcare, employment support, financial aid, and more based on your location. 
 

Why can’t I get a loan as an active duty military member?

We are deeply grateful for your service and the sacrifices you and your family make. As a financial partner, we’re committed to following laws designed to protect consumers—including the Military Lending Act (MLA).

Because our short-term loan rates exceed the limits set by the MLA, we’re unable to provide loans to Active duty service members, or their family members.

If you’re looking to learn more, the Consumer Financial Protection Bureau provides a helpful overview here:

• What are my rights under the Military Lending Act

We wish you the best of luck as you look for alternative lending options and we thank you for your service!