How does Mogo make their loan pre-approval decisions?

At Mogo, we work hard to make our products and services as accessible as possible. We have a robust credit approval process in place to ensure that our members are approved for credit products that are appropriate for their unique financial situation.
 
If you’ve never had a loan with us before, we might look at things like your credit score and credit history to make sure that on a high level, everything checks out and give you a pre-approval offer accordingly. If you’ve loaned with Mogo before, we’ll also take a look at your history with us.

Having a pre-approval means that you’ve passed most of the requirements needed to get that loan—not that the loan is guaranteed! Before we can give you a final approval, we have to do a more thorough check. This typically consists of verifying your personal info (like your identity and your income information) to ensure that you meet our requirements.