The loan approval process is a series of steps that lenders follow to determine whether to grant a loan to a borrower. It typically begins with the borrower submitting a loan application, which includes personal and financial information. The lender then reviews this information, checking the borrower’s credit history and assessing their ability to repay the loan. Once the initial review is complete, the lender may request additional documentation, such as proof of income or employment. After evaluating all the information, the lender makes a decision, which can result in either approval or denial of the loan. If approved, the borrower receives the loan terms and conditions.