How do borrowers apply for a loan?
Borrowers can only apply for a loan from Bondora through its website. Bondora collects the following borrower data and information in order to process the application:
- Personal information
- Contact information
- Socio-demographic data
- Employment information
- Income data
- Data on outstanding liabilities
- Supporting documentation
The application must then be evaluated with respect to Bondora’s responsible lending policy, which includes rules and requirements regarding applicant age, income and over-indebtedness. If the prospective borrower passes the policy rules check, the borrower’s credit score is calculated and a conditional loan offer is made.