To qualify for a Customers Bank or BankMobile loan, borrowers must:
If an existing/previous borrower with a Customers Bank or BankMobile Personal Loan, the borrower/applicant must (i) have made on-time payments for 6 previous consecutive payments, with no failed payments , (ii) have no more than one outstanding loan at the time of application, and (iii) have no more than $40,000 of total principal outstanding at the time the loan originates.
Also, previous borrowers must wait for a period of at least 60 days after paying off a previous Customers Bank or BankMobile loan before becoming eligible for a new loan. This waiting period can be waived if the borrower made the last 6 monthly payments of the recently paid off loan on time.
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