How to apply?
Before applying for a Blend loan, borrowers need to create an account. The loan application process is fast and straightforward. New borrowers submit their applications during their initial registration process. Regular customers can log in to the platform, choose a loan product that meets their qualifications, and proceed with the simple and hassle-free application process. When creating an account, you will be prompted to enter the amount, purpose, and duration of the loan for new customers. You will also be needed to confirm your employment status. These details will help Blend gauge your creditworthiness and confirm if you are qualified to get a loan. After this process, proceed with your application by completing the credit assessment and verification stages, where Blend checks all the data and requirements you have provided to decide whether you qualify for a loan or if your application is rejected. The next step is a credit auction stage, where your approved loan is published at an action in Blend so that lenders can choose and finance it. After a lender chooses to finance your loan request, you will get a notification of loan approval and the approved loan terms. Therefore, when applying, borrowers need to do the following:
- Fill in an online application form
- Wait for about 20 minutes for a review
- Receive a loan decision
- Get money
Requirements
Blend offers different types of loans, ranging from fast loans with quick approval time to franchise loans with varied requirements. Generally, customers must meet the initial eligibility criteria to apply for a loan. In addition, all loans require borrowers to have the following:
- Have a Certificate of Employment with Compensation
- Company ID for a franchise
- Latest 1 month's payslip
- Two valid government IDs
- Proof of billing
Other loans such as franchise require borrowers to have a collateral to get their loans approved.
Application details
Application reviews of Blend loans depend on the type of loan. While fast loans can take few minutes to be approved, Blend generally takes between 24 and 48 hours to approve bigger loans.
