Hi there! SnapCash here again. Today, we’re answering the age-long question of our valued user — YOU.


In this article, we provide clear answers to the question — ‘What does it mean when my loan is pending?”


Sadly, the misconception some SnapCash users have is that; their loan application is denied because their documents are pending. They see that even when all stages of their verification/application are complete (or sometimes not), their SnapCash dashboard still reads as “pending”. Therefore they conclude their loan application has been rejected.


But, here’s the thing; a pending loan application doesn’t translate to rejection. There are a couple of reasons why your loan is still pending…


## Final verification check
Until this final verification check is done. Your SnapCash dashboard will read as “pending”
To keep your data safe and prevent identity theft, the SnapCash loan application process has checks in place that must be completed before your loan can be approved and the “Phone call verification” check is one of them.


After you apply for a loan, you’re instantly sent an email with a number you’re required to call and speak with a SnapCash representative as a means of further verification. Once you complete this process, the SnapCash system carries out additional checks before approving or denying your application.


During this period, your app dashboard shows “pending”. This doesn’t mean your loan has been rejected but rather your documents and identity are being vetted.
Although, if for any reason you fail to carry out the phone call verification, your dashboard will continue to show “pending” with no change forthcoming.
After some time, SnapCash will contact you via email to inform you that the phone call verification has not been carried out and inquire as to whether you would like to cancel or continue the loan application.


## Incomplete loan application/SnapCash vetting process
Another likely reason why your SnapCash dashboard still reads “pending” may be because of an incomplete or incorrect application. Not completing your application process or putting in invalid personal details may put the whole process at a standstill.
It could also be that SnapCash is vetting your documents and checking your credit profile. So we can be in the safe zone as well. Remember, any lender that’s not afraid to lose their money is a walking red flag .
Know that it’s never SnapCash’s intention to cause our loyal users any form of distress and that’s why our loan application is seamless and fast.


## Bonus point
Here’s one final misconception to fact-check — a pending loan status does not mean that your loan repayment date has started counting!
Let us put your mind at ease now, your loan only begins to count after it’s been approved and your loan disbursed.
…
As always, we’re available to answer your questions — whether it’s to confirm facts or simply make inquiries you can always reach out to us at hello@snapcash.ng!!


What does it mean when your loan is pending?

Frustrating right?


Trying to reach out to a brand and not getting a response for days has to count as one of the most frustrating moments!


It gets even worse when it involves an issue that requires urgent attention.


At SnapCash, we understand how frustrating and disappointing it could be especially when it involves money and that’s why we constantly find ways that allow you to communicate with us with ease via various mediums.


Everyone has a preferred contact method, and sometimes different problems have different ways they can be addressed. Here are 3 ways you can make inquiries/solve your problems with SnapCash:


## Contact us via email
At SnapCash, we make it our priority to be available to assist all of our users, including prospective clients. This is why you can always, and at any time, send an email to SnapCash if you have any inquiries or concerns that need to be addressed. In a matter of minutes or a few hours, you can get a reply to your inquiries and concerns.


## Chat with an SnapCash representative using our live chat feature
The world is miles ahead of Nigeria as regards technology. But SnapCash quickly adapts and that’s why the live chat feature has been made available for you. It connects you with one of our representatives right there on the website or even on the app. This way you don’t have to worry about your contact details being in the wrong hands.
With our live chat feature, a representative will be there to guide you through any issue you’re struggling with, by giving you suggestions and directions on what approach can quickly solve your specific issue. All on the website.


## Go through our frequently asked questions (FAQs)
There may be inquiries that you need to make that others have made before you. When situations like this happen, SnapCash takes a count of how many people have asked that particular question (phrased in different ways) and provides an answer for it which will then be made available on the website. These questions and answers are called FAQs — Frequently Asked Questions.


Most times, when you make inquiries through the live chat feature, you’ll be directed to the FAQs if it’s a question that has been answered. SnapCash has a wide selection of FAQs that you can go through to find an answer to your inquiries and a solution for any problem you may be stuck on. Here’s a look at SnapCash FAQs.


Reach out to us with your inquiries at hello@snapcash.ng and we’ll be sure to give you more tips.


3 ways you can make inquiries/solve your problems with SnapCash

Quite honestly, everyone wants their loan approved but not everyone gets their loan approved. But that doesn’t have to be you, with these 5 hacks you’ll have your loan secured with ease.
Let’s get started!


## Check your credit score
Are there really any loan problems you may have that don’t involve your credit score? The answer is yes but in regards to ‘getting’ a loan, your credit score may be the biggest contributing factor to why you were declined.
So before you get subjected to rejection from your lender, check out what your credit score might state before going ahead to apply for that loan. When you do this you can easily identify any issue or error that may cause your loan application to get rejected and take steps to correct them.


## Provide accurate information
It may seem too tempting to provide false information when asked, to make yourself seem more eligible for a loan but all that does is make you get rejected a lot faster.
Digital lenders use automated algorithms to process loan applications which rely on accurate data that is also consistent. Providing false or ‘slightly altered’ data can result in your loan application being rejected or delayed. Lies and technology are a bad mix.


So your best bet is to provide information that is accurate and consistent so your loans can be processed and approved faster.


## Reduce your debt-to-income ratio
A high debt-to-income ratio may indicate that you have too much debt in contrast to your income, which can lower your chances of getting approved for a loan.
Lenders also use your debt-to-income to determine the loan amount you would be eligible to receive. You stand the risk of only being approved for a smaller loan regardless of what you want if your debt-to-income ratio is too high.
Reducing your debt-to-income ratio by paying off all existing debts before applying for a new loan can greatly improve your chances of being approved for a loan by a digital lender. Read more about your debt-to-income ratio and its impact on your loan application process.


## Build your credit history
If you don’t have much of a credit history, now is the time to fix that. Consider taking out a small loan and making regular on-time payments to build up your credit history.
People who have no credit history, have no credit record and as such, have no credit score and lenders consider a lack of a credit history a big risk, as they have no way of knowing if the individual asking for a loan is creditworthy.
A good credit history is a sign of creditworthiness, so take out some time to build one and your loan approval chances will be improved. You’re welcome!


## Research loan options
Another hack that would increase your loan approval chances is dependent on you. We’ll tell you how…
In order to get a better idea of the loan product fit for you, you ought to do proper research on the loan options made available by your prospective lender. This helps you pick a loan option that is already tailored to your specific needs and qualification, making your loan approval all that much faster.
Remember, proper research of your prospective lender will save you from so many troubles!


If these hacks have been helpful to you — please share with your family, friends and even foes. Don’t forget to send us a message at hello@snapcash.ng and let’s get you started on your loan application process!


Do you want your loan approved? Try these 5 hacks!

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Featured Articles

What does it mean when your loan is pending?

3 ways you can make inquiries/solve your problems with SnapCash

Do you want your loan approved? Try these 5 hacks!