Loan Approval Process
The Accion New Mexico ∙ Arizona ∙ Colorado loan approval process has four steps. In general it can take less then one week or up to four weeks to complete the full loan approval process.
Step 1: Complete a full loan application
This can be done online through our full loan application process, by submitting a loan inquiry and following up by phone, or by submitting a completed application to us by mail or as an email attachment. Once your loan application is complete, you move on to step two. Apply now!
Step 2: Provide supporting documents
Once your loan application is completed, an Accion loan officer will review it, give you some initial feedback, and request that you provide additional supporting documents. These documents often include tax returns, pay stubs, and/or financial statements if you have them. We will also require an official valid ID before closing.
Step 3: Final decision by Accion
Once we have your application and supporting documents, our underwriting group will make a decision whether to approve or deny your loan request. Please see the factors we consider to better understand how our loan approval decisions are made.
Step 4: In-person meeting with Accion
When you are notified that your loan has been approved, we schedule an in-person meeting with an Accion officer at one of our offices in New Mexico, Arizona or Colorado, or at one of our partner locations. The first three steps of the process can be done online and/or by email, however we like to meet our clients in person upon closing a loan, to fully discuss the terms and agreements and inform our clients of the various client support services we offer to help promote and support your business.