How to Check Lender Credibility?

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It is important to check the lender’s credibility to ensure that you are dealing with a trustworthy institution. Here are tips that can help you assess the credibility of the lender:

Licensing and Registration

The lender must have the necessary license and registration to operate. There are regulatory bodies that oversee lenders and you can often find this information on their website.


Check for online reviews and ratings about the lender. There are plenty of websites online that can provide insights about other’s experiences with the lender.

Contact Regulatory Bodies

Contact relevant regulatory bodies to confirm the legitimacy of the lender. They can provide information about the company, including complaints and disciplinary actions against them.

Check for Complaints

Check whether the lender had complaints or legal actions against them. Aside from relevant regulatory bodies, you can check online databases, consumer protection sites, and court records for information.

Visit the Lender’s Website

Credible lenders will always have a professional, informative, and clean website. The website must provide the lender’s contact information such as phone number, email, and physical address.

Ask for Reference

For large business loans or financial transactions, you can ask the lender for references. Ask for businesses or individuals they have worked with in the past and inquire about their experience.

Evaluate their Customer Service

Try to contact their customer service department for questions. Assess their level of responsiveness and professionalism.

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