loan approval

1. 1.

   formal authorization to get a loan (usually from a bank)

   Broaderauthorization

Questions about loan approval

What does loan approval mean?

loan approval means "formal authorization to get a loan (usually from a bank)".

Is loan approval a common word?

loan approval is banded "Rare" — specialist or archaic — most readers will not have met it. The band comes from how often the word appears in a large corpus of everyday English, not from an editor's impression.