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The diligent matching of loan programs with the current financial circumstances of each customer is known as:

User Kritya
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Answer:

Loan suitability.

Step-by-step explanation:

A loan can be defined as an amount of money that is being borrowed from a lender and it is expected to be paid back at an agreed date with interest.

Generally, the financial institution such as a bank lending out the sum of money usually requires that borrower provides a collateral which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.

Loan suitability involves the diligent matching of loan programs with the current financial circumstances of each customer. This is usually done by checking the credit score of a potential borrower.

A credit score can be defined as a numerical expression between 300 - 850 that represents an individual's financial history and credit worthiness. Therefore, a credit score determines the ability of a borrower to obtain a loan from a lender.

User Anton Kolesov
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