What a credit analysis is and what it checks.

Before lending, any institution (a bank, a cooperative or even a natillera) carries out a credit analysis. This guide explains what is reviewed, how repayment capacity is calculated and which documents are usually requested.

A credit analysis is the review a lender carries out to decide whether to lend to an applicant, how much, over what term and on what conditions. It looks mainly at three things: whether the applicant can pay (their repayment capacity), whether they have paid before (their history) and what backing there is if something fails (co-signer, collateral or contributions).

What is reviewed

What is reviewed
What is checked	What it is for	How it is checked
Identity and link	Confirm who the applicant is and whether they meet the institution’s requirements.	ID and, if applicable, proof of the link with the institution.
Income	Know how much they receive in a verifiable way.	Employment certificate, pay stubs, statements or income certification.
Expenses and debts	Know how much they already have committed each month.	Statements, current obligations and the credit bureau report.
Repayment capacity	Work out how much is left over for a new installment.	It is calculated from the data above.
Payment history	See how they have met their obligations.	Credit bureau report, with the applicant’s authorization, or their history with the institution.
Stability	See how steady their income is.	Length of time in the job or the business.
Backing	Have a way out if payments stop.	Co-signer, collateral, contributions or savings.
Purpose	Understand what the loan is for.	The application and, sometimes, proof of the expense.

How repayment capacity is calculated

free capacity = income − expenses − installments on current debts
debt ratio = (current installments + new installment) ÷ income

Example with a person who earns $4,000,000 a month, spends $2,200,000 and already pays $400,000 in installments, and who asks for $10,000,000 over 24 months at 24% effective annual: the new installment would be $517,326 and they would have $882,674 left each month after paying it.

How repayment capacity is calculated
Description	Monthly value
Income	$4,000,000
Expenses	$2,200,000
Installments on current debts	$400,000
Free capacity	$1,400,000
Installment of the loan requested	$517,326
Left after the installment	$882,674
Debt ratio (installments ÷ income)	22.9 %

How much debt is too much

There is no single percentage for everyone: each institution sets its policy according to its risk and type of loan. What is prudent for the borrower is that, after paying all the installments, there is still room left for expenses and the unexpected.

Which documents are usually requested

Which documents are usually requested
Applicant type	Usual documents
Individual empleada	ID, employment certificate, pay stubs, bank statements and income tax return if applicable.
Individual independiente	ID, RUT, bank statements, income tax return or an accountant’s income certification.
legal entity	Chamber of commerce certificate, RUT, financial statements, income tax return, statements and the legal representative’s ID.

Each institution defines the list it requires; this is the most common one.

Credit history and your rights

Credit history is compiled by the credit bureaus. Law 1266 of 2008 regulates how that information is handled (financial habeas data): to look it up, the institution needs the data subject’s authorization, and the person has the right to know, update and correct their data. Law 2157 of 2021 regulates the reporting and expiry of negative data. This is an educational summary, not legal advice.

Signs that call for more information

Expired, illegible or incomplete documents.
Income that does not match between the certificates and the statements.
Debts the applicant did not mention that show up in the report.
Frequent job changes or very irregular income.
An amount that is very high compared to income.

What outcome it can have

Approve with the requested amount and term.
Approve with a different amount or term.
Ask for a co-signer, collateral or more documents.
Reject the application.

The decision belongs to a person or a committee. And the rate charged cannot exceed the current usury cap.

If your natillera lends to an outsider

If the group decides to lend to someone who is not in the group, it is worth doing a simple analysis: ask for proof of income, set a maximum, have a member as co-signer and put the agreement in writing. NatIA Ahorro lets you record an external borrower with their loan and payments.

How DatIA Recaudo would help

DatIA Recaudo, which is under construction, aims to read the applicant’s documents, organize the information, calculate repayment capacity with verifiable rules and deliver an analysis with risks and a recommendation for the committee. AI prepares; a person decides. Today it does not connect to credit bureaus.

Last updated: October 9, 2026. Written by the BankIA (jsadsAI) team. Educational content: it does not constitute financial or legal advice.

Questions

Frequently asked questions

Are a credit analysis and a credit score the same thing?

No. The score is an indicator of credit history; the credit analysis also includes income, debts, repayment capacity, documents and backing.

Can they look up my credit history without my permission?

To look up your information at the credit bureaus, the institution needs your authorization, under Law 1266 of 2008.

What do I do if my loan is rejected?

You can ask the institution to explain the reason. Sometimes it is solved by asking for a smaller amount, a longer term, adding a co-signer or getting up to date on your obligations.

How long does a credit analysis take?

It depends on the institution and on how complete the documents are. Handing them in complete and up to date is what speeds it up most.

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