[jfranz17]

What is disclose in an adverse action letter is between the borrower and the lender. If you have ever seen an adverse action letter, you know it shows a few comments from information gathered by the credit reporting agencies where credit was pulled.

LoanMe has over 150 loan agents taking an average of 15-20 applications per day. Internal scoring and the algorithm used to assess a pre-qualification decline are not something that agents are given access to. This is done for the privacy and protection of the borrower applying for a LoanMe loan.

You are referring to an FCRA Adverse Action, which only must be provided to a consumer applicant. They are not required for business credit because the commercial entity is the applicant, the consumer is a guarantor and does not meet the definition of an applicant.

An ECOA or Reg B adverse action notice is required for business credit and the notice must contain "either a statement of the specific reasons for the action taken or a disclosure of the applicant’s right to a statement of specific reasons and the name, address, and telephone number of the person or office from which this information can be obtained"