Loan approval will have an impact on the credit report. When you apply for a loan, the financial institution or loan provider will inquire about your credit information from the credit reporting agency and report the loan application record to the credit reporting agency. This record will be displayed in your personal credit report and become a reference for other financial institutions to evaluate your credit status. If you have a good loan approval record and repay the loan on time, it will have a positive impact on credit information and improve your credit rating. However, if your loan approval record has bad behaviors such as overdue repayment and breach of contract, it will have a negative impact on credit information and reduce your credit rating.