5 reasons we decline loans

4 min readFeb 11, 2022

We would love to give everyone a loan because giving loans is what butters our bread. Unfortunately, we do get to decline a lot of loan requests. Before you think we are wicked, hear us out.

Well, here are the top 5 reasons we decline loans:

#1 You are owing money somewhere

Irorun makes use of credit bureau checks when assessing loan requests so if these checks reveal that you have unpaid debts anywhere else, the system automatically declines your loan request.

Endeavour to pay your loans in full and when due no matter where you take them form to be able to enjoy getting fast loans with ease from us.

#2 You have been implicated for fraud elsewhere

*Looking at you suspiciously*

Are we next on your hit list? We are on to you and your funny business 100%.

Our system performs blacklist checks when assessing loan requests, so if you misbehaved so badly on another platform that they had to blacklist you, we will be ready for you when you come to meet us. You might think you got away with it somewhere else but we don’t do bad things here and we don’t do business with people who do.

We give peace of mind and we want peace of mind too.

#3 You don’t have the capacity to repay the loan

This is where we agree that “more money, more problems!”

When you sign in with your mobile banking application, the good guys at Mono help us connect to your bank account statement to determine your true capacity to repay. For mutually assured success, if your monthly income shows that you might experience difficulty repaying the amount you have requested for, we shall humbly decline that request (thank you but no, thank you).

Neither of us needs that pressure: you should not take a loan you will struggle with and we also do not want to have to chase you to pay back a loan we know you can’t afford. More money is always desirable but not if it comes with problems.

#4 We don’t know who you are

There are many people on this table we are shaking. This one is for people who upload their school ID or work ID cards, membership cards, random images, etc. Unfortunately, if your ID isn’t issued by the Government, we won’t accept it..

If your ID is also expired, blurry, mutilated, our operators may be too eager to decline your loan request as well. But they may be nice enough to leave you a note to upload a better one. .We do, however, accept international passports, driver’s licences, permanent voter’s cards (PVC), national ID cards and NIN slips.

Note that you do not have to worry about your personal information getting into the wrong hands because Irorun will never misuse your data.

#5 You are super eager for loans

Ah! Only you! You have applied and repaid 9 loans in 2 days!

We are glad you have realized you can always count on Irorun to come through for you but now you have us worried something might be off.

We have so much love for our loyal customers and encourage them to keep returning for more loans as the loan amount they are eligible for tends to increase over time.

Our loans are algorithm-driven and they don’t like that. Imagine that when you do this, alarms just start going off in the system and the algorithm just has to shut down that next loan request ASAP!

Good things come to those who wait. Don’t be in a rush, we will be good to you if you stick with us and the benefits get bigger the longer you stay with us.

#bonus Your information is inconsistent

(We know we said we’ll share 5 reasons we decline loans, but we are generous here at Irorun so .. bonus reason!)

We might believe in miracles but we know when to tell when something is just plainly fishy. When you begin to change your previously uploaded information, it raises red flags and the system will bounce your loan request just like that *snapping our fingers* but we do understand that sometimes mistakes happen or there are genuine updates that need to be made to the information you provided previously and we cater for these exceptions.

Now you know the top reasons we decline loans. Has your loan recently been declined and you’re not guilty of any of these 6 offences? Why don’t you reach out to us at support@irorun.com and let’s see what we can do about it? We can’t wait to give you a loan!




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