Why was my application declined?

If your Fig loan application was declined, it means that our system determined you are not currently eligible for a loan with us.

How the Fig application process works

Fig’s application process has two stages:

1. Pre-qualification – You receive a loan offer based on your credit profile.
2. Full application – You begin your application and provide additional required information.

While you may meet certain initial criteria to receive a pre-qualified offer, your eligibility is only confirmed once we complete a review of all the information submitted during the application process. This includes factors like your identity, your ability to repay the loan, and the accuracy and consistency of the information you provided.

Why applications may be declined

During the application process, our system performs an automated review to assess overall eligibility. This review takes several factors into account, including but not limited to:

• Verification of your identity
• Accuracy of submitted details
• Your ability to make loan payments

In addition to these criteria, applications may also be automatically declined in the following cases:

• You reapply within 32 days of a previously declined application
• You apply for a new loan within 32 days of paying off a previous Fig loan
• You already have an active Fig loan at the time of applying

Although you may receive a pre-qualified offer, the application review may result in a declined outcome based on one or more of these factors.

Please note that we are not able to share the specific reasons for declined applications, as the process relies on proprietary eligibility criteria.

Can I re-apply?

Yes! You may be eligible to re-apply for a Fig loan 32 days after an initial application decline. When you are ready, you can submit a new application on our website: Apply for a Fig Loan

Does a declined application affect my credit score?

No. Fig does not perform a hard credit check as part of the application process, and a declined application will not impact your credit score.

Your privacy

Your personal information is handled securely and in accordance with Canadian regulations. If your application is not approved, your data will be anonymized or securely deleted when it is no longer required for business purposes.

Questions?

If you have further questions, feel free to contact our support team at support@fig.ca and we’ll be happy to help!

All Fig loan offers are subject to standard Fig review and approval. Fig loans range from $2,000 to $35,000 with terms from 24 - 60 months. APRs range from 8.99% to 29.49% and will depend on assessment of your credit profile. Offer excludes residents of Northwest Territories, Nunavut and Yukon.