In recent years, with the rapid development of Internet finance, an increasing number of people have started to choose on-line loans to meet individual financial needs. In the case of individual loans, the issue of letters of credit has been a high priority. Whether or not the letter of approval of the FSP, a common online lending product, has been the subject of concern. This paper will provide an analysis of whether the letter will be passed from multiple angles。

Can you pass

First, the borrower's credit records are one of the important grounds for approval of its loans by banks and other financial institutions. However, it is difficult for some borrowers who do not have or have poor credit records to obtain loan approval from traditional financial institutions. In contrast, as an online lending platform, the criteria for the approval of borrowers are relatively liberal, and the poor credit status of borrowers is not necessarily qualified as a condition for refusal, so that poor borrowers have some opportunity to pass the letter-check on the loan。

Second, the LSP does not rely on credit evaluation by traditional credit agencies, but rather carries out risk assessment through a variety of technological means, such as large data and artificial intelligence. This has made it possible to assess the repayment capacity and credit position of borrowers in an objective and comprehensive manner. Even if the borrower does not have a record of correspondence, it is largely possible to pass through a letter of credit for the loan, provided it is performed well in other areas, such as stable work, sources of income, etc。

In addition, the loan amount for the loan is relatively small, often between tens and tens of thousands of yuan, and the duration of the loan is relatively short, usually ranging from months to a year. Compared to traditional lending products with larger loans and longer durations, the risk of utilisation is lower and the review procedures required are relatively simple and fast. As a result, even if the borrower ' s credit records are poor, there is still a high chance of passing through the letter call。

Finally, while there is a certain degree of flexibility in the letter-taking aspects of the loan, this does not mean that borrowers with bad credit records are not at risk of repayment. Regardless of the level of borrowing, personal consumption in the areas of shopping, tourism, education, etc. requires that borrowers plan their repayment plans rationally to avoid debt accumulation. Borrowers should therefore be reasonable and cautious in choosing their loan products and in conducting their operations。