Business, Legal & Accounting Glossary

Definition: Approval


Full Definition of Approval

A borrower’s loan application acceptance, meaning that the borrower meets both qualification and underwriting requirements set forth by the lender. If approval is given via an automated underwriting system, the borrower may have to verify certain information before their application can be approved.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Approval. Payroll & Accounting Heaven Ltd.
December 02, 2021
Chicago Manual of Style (CMS):
Approval. Payroll & Accounting Heaven Ltd. (accessed: December 02, 2021).
American Psychological Association (APA):
Approval. Retrieved December 02, 2021
, from website:

Definition Sources

Definitions for Approval are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.