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Let me make it clear about NINJA Loan

Let me make it clear about NINJA Loan

What exactly is a NINJA Loan?

A NINJA loan is really a slang term for the loan extended up to a debtor with little to no or no effort because of the loan provider to validate the applicant’s capacity to repay. It is short for “no earnings, no task, with no assets.” Whereas many lenders need loan candidates to produce proof a well balanced blast of earnings or adequate security, a NINJA loan ignores that verification process.