loan approval
[/loʊn əˈpruːvəl/]
nounpl: loan approvals
aprovação de empréstimo
1. The formal authorization granted by a lender to provide borrowed funds to a borrower
The bank's loan approval came through after a thorough credit review.
A aprovação de empréstimo do banco saiu após uma análise creditícia completa.
2. The process or decision by which a lending institution accepts a loan application
Loan approval typically takes between 3 to 5 business days.
A aprovação de empréstimo normalmente leva entre 3 a 5 dias úteis.
3. Official confirmation that a borrower meets the lender's requirements and conditions
Her loan approval was conditional upon providing additional documentation.
Sua aprovação de empréstimo foi condicionada à apresentação de documentação adicional.
In Brazil, loan approval is a significant moment in personal finance and is often celebrated as it enables major purchases like homes or vehicles. The approval process reflects the importance of credit history and personal relationships with banks. In the USA, loan approval is a formal, regulated process heavily dependent on credit scores and financial documentation, reflecting a more impersonal, algorithmic approach to lending.
NYC Slang
the green light (informal); 'getting approved' (colloquial)
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