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Do the participants have to “qualify” for a loan and/or provide documentation that proves they need the money?

April 26, 2017documentation loan money participants proves

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Do the participants have to “qualify” for a loan and/or provide documentation that proves they need the money?

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No. Participants do not need to qualify for a loan. Unlike a hardship withdrawal, they may take a loan for any reason and do not need to show documentation of need.