Question

getting loans is a cumbersome process.why?

Answer 1

these loans required proper documentation and collateral absence of collateral can be one of the main reasons which make it difficult for a person to get loan from formal sources of credit
some money lenders Do Char so very high interest rate on loans which is difficult for a poor man to pay so things become difficult for him

sometimes the one who had not paid the earlier loans came again to the same source of credit asking for another on so that source of credit possibly formal but not want to give loan to defaulters again