Denials

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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

What are common reasons my application wasn't approved? 

Our top priority is to offer products that are manageable and responsible based on your current financial situation. If we can't move forward right now, it doesn't mean you can't try again in the future.

The most common reasons we can't approve an 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 product
• We were unable to verify your identity
• Your bank account is shared with someone who already has an active Possible product
• 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
• Possible Loan only: You are an active duty military member or a family member of one. Learn more.
• Possible Loan only: Your state's database restrictions prevent approval. Learn more.

When can I reapply if my application wasn't approved? 

You can reapply every 72 hours after a denial, regardless of which Possible product you applied for. Your next eligible date is always shown in the app. 

If your financial situation has changed, for example your income has increased, your account balance has improved, or you've resolved past issues, you're welcome to apply again. Open the app and start a new application. Most applicants receive a decision within 24 hours.

Not sure how to strengthen your loan or advance application? Learn more about what steps you can take to improve your approval chances.

Should I reapply for a lower amount?

The amount you select on a loan application tells us the maximum you'd like to borrow. 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 a lower amount to increase your chances.

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

Note: Advance amounts are determined by Possible at the time of application and cannot be selected by the applicant.

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

State database restrictions apply to Possible Loans in Washington They do not apply to Installment Advances or Single Advances.

Possible follows 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. 

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. 
 

Can I apply for a different Possible product if I'm denied?

In most cases, no. Possible products are only available in specific states, and there's little to no overlap between which states offer which product. If your Loan, Advance, or Plus plan application wasn't approved, it's likely that your state doesn't currently offer a different Possible product for you to apply for instead.

You can check which products are currently available in your state in our State Eligibility article.

Your best next step is strengthening your application for when you're eligible to reapply.

Why can't I get approved for a Possible 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).

The Military Lending Act (MLA) limits the interest rate that can be charged to active duty service members and their families. Because the rates on Possible Loans exceed this limit, we're unable to offer them to active duty military members or their dependents. This restriction applies to Possible Loans only and does not affect loans accessed through the Plus plan or Possible Advance products.

For a full breakdown of which Possible products are available to active duty service members, visit our Eligibility article. 

To learn more about the MLA, the Consumer Financial Protection Bureau provides a helpful overview: What are my rights under the Military Lending Act.

We wish you the best of luck as you look for alternative lending options.