At Stilt, we believe in transparency, clarity, and honesty.
We believe better-informed borrowers are good borrowers. As we grow, we want to inform potential borrowers about what makes a good application at Stilt. What should they expect when they apply for a loan. This will help them give us the right information we are looking for and help us in providing the best interest rates possible.
These are just high-level guidelines to help a potential borrower understand the behind the scenes of how Stilt views an applicant. We extract hundreds of more nuanced factors from the data and use machine learning and statistical models to determine the lowest interest rate.
Below are some broad strokes on what we look at in an application:
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There are no minimum credit score requirement.
Good education and professional background increases your chances of approval — even if you are new to the country or don’t have any credit history.
Responsible financial behavior can help you lower your interest rates.
Minimal derogatory fees like late fees, insufficient funds fee, overdraft fees are also acceptable.
We also consider situations where you are waiting for OPT, STEM extension, are on Cap-Gap, or will go for H-1B renewals.
Accurate information is very important for successful applications.
If you have strong positive points across these dimensions, you can get approved for a loan at lower rates. We are committed to providing the best interest rates possible and work hard at constantly improving our risk models. Our goal is to provide the best rates possible to our borrowers and help them access a better financial future.
If you still have questions about your eligibility or want to learn more about how we make decisions, feel free to reach out to us via live chat on the site or email at [email protected]
Stilt provides loans to international people in the U.S. at rates lower than any other lender. Visit us at https://www.stilt.com. If you have any questions, send us an email at [email protected].
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