--- title: "Meaning & Key Takeaway of: Once upon a time, if you were going to…" description: "\"Once upon a time, if you were going to get a loan from me, I would have had to look at your file, and I would have to make a decision about whether you..." image: "https://sms4smile.com/quotes/i/0b9/franklin-foer-3604_decision_once-upon-a-time-if-you-were-going-to-ge_89522.jpg" --- # Once upon a time, if you were going to get a loan from me… ![“Once upon a time, if you were going to get a loan from me, I would have had to look at your file, and I would have to make a decision about whether youre going to get a loan. Maybe we would meet and talk about it. There would be some level of human involvement and human interaction. Now, a lot of…” quote by Franklin Foer](https://sms4smile.com/quotes/i/0b9/franklin-foer-3604_decision_once-upon-a-time-if-you-were-going-to-ge_89522.jpg) [Download](https://sms4smile.com/quotes/i/0b9/franklin-foer-3604_decision_once-upon-a-time-if-you-were-going-to-ge_89522.jpg) [Open image](https://sms4smile.com/quotes/i/0b9/franklin-foer-3604_decision_once-upon-a-time-if-you-were-going-to-ge_89522.jpg) > “Once upon a time, if you were going to get a loan from me, I would have had to look at your file, and I would have to make a decision about whether youre going to get a loan. Maybe we would meet and talk about it. There would be some level of human involvement and human interaction. Now, a lot of this is determined by an algorithm.” [Franklin Foer](https://sms4smile.com/quotes/author/franklin-foer/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The shift from human‑reviewed loan decisions to algorithmic underwriting reduces personal interaction and places trust in opaque models. **In simple terms:** Automation replaces human judgment in credit. Key Takeaway Algorithms now decide loan eligibility. Themes technology finance automation human‑machine interaction trust Mood analytical cautious Type observation statement When to use this quote - bank loan applications - online lending platforms - financial risk assessment Key Concepts credit scoring algorithmic bias decision transparency Practical Applications - risk modeling - process efficiency Questions to Reflect On - How does algorithmic opacity affect borrower confidence? - What safeguards can re‑introduce human oversight? ★ ★ ★ ★ ★ No ratings yet [Decision](https://sms4smile.com/quotes/about/decision/) [Human](https://sms4smile.com/quotes/about/human/) [Time](https://sms4smile.com/quotes/about/time/) ## Related quotes > [No loan is free. The costs are in your loan somewhere, maybe rolled into the amount to be refinanced or even coming at a…](https://sms4smile.com/quotes/barbara-corcoran/no-loan-is-free-the-costs-are-in-your-loan-somewhere-maybe-rolled/) [Barbara Corcoran](https://sms4smile.com/quotes/author/barbara-corcoran/) > [You hear loads of stories about boys going on loan and different things like that and I always had it in my head that…](https://sms4smile.com/quotes/scott-mctominay/you-hear-loads-of-stories-about-boys-going-on-loan-and-different/) [Scott McTominay](https://sms4smile.com/quotes/author/scott-mctominay/) > [I'm at an age now where I have a newborn baby and me and my wife want to settle. I'm tired of going on…](https://sms4smile.com/quotes/emiliano-martinez/i-m-at-an-age-now-where-i-have-a-newborn-baby-and-me-and-my-wife-want/) [Emiliano Martinez](https://sms4smile.com/quotes/author/emiliano-martinez/) > [Going on loan really benefits you.](https://sms4smile.com/quotes/danny-welbeck/going-on-loan-really-benefits-you/) [Danny Welbeck](https://sms4smile.com/quotes/author/danny-welbeck/) > [Going on loan certainly helped me, speaking to players who've been in the game longer than me at that young age, especially at Derby.](https://sms4smile.com/quotes/mason-mount/going-on-loan-certainly-helped-me-speaking-to-players-who-ve-been-in/) [Mason Mount](https://sms4smile.com/quotes/author/mason-mount/) > [It's always nice going out on loan for the experience.](https://sms4smile.com/quotes/danny-rose/it-s-always-nice-going-out-on-loan-for-the-experience/) [Danny Rose](https://sms4smile.com/quotes/author/danny-rose/) > [I always wanted to be going out on loan and playing football and maturing as a goalkeeper.](https://sms4smile.com/quotes/jordan-pickford/i-always-wanted-to-be-going-out-on-loan-and-playing-football-and/) [Jordan Pickford](https://sms4smile.com/quotes/author/jordan-pickford/) > [I kept going out on loan because I wasn't getting much time at Reading. Then I went to Sheffield Wednesday and then Nottingham Forest…](https://sms4smile.com/quotes/michail-antonio/i-kept-going-out-on-loan-because-i-wasn-t-getting-much-time-at/) [Michail Antonio](https://sms4smile.com/quotes/author/michail-antonio/) > [Going on all those loan spells helped me massively. They turned me into a man quicker than I should have.](https://sms4smile.com/quotes/ivan-toney/going-on-all-those-loan-spells-helped-me-massively-they-turned-me/) [Ivan Toney](https://sms4smile.com/quotes/author/ivan-toney/) > [Pay off your student loan. Even if you don't have a job...Because when you finally get a job you're going to be one of…](https://sms4smile.com/quotes/bill-cosby/pay-off-your-student-loan-even-if-you-don-t-have-a-job-because-when/) [Bill Cosby](https://sms4smile.com/quotes/author/bill-cosby/) > [What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory…](https://sms4smile.com/quotes/bernie-sanders/what-wall-street-and-credit-card-companies-are-doing-is-really-not/) [Bernie Sanders](https://sms4smile.com/quotes/author/bernie-sanders/) > [Historically, usury was defined as any interest whatever on an unproductive loan.Our whole banking system I have ever abhorred, I continue to abhor, and…](https://sms4smile.com/quotes/john-adams/historically-usury-was-defined-as-any-interest-whatever-on-an/) [John Adams](https://sms4smile.com/quotes/author/john-adams/) > [What is entrepreneurship, after all? Bigness is not the issue. Poor people are the ones who take challenges every day. The guy who sells…](https://sms4smile.com/quotes/muhammad-yunus/what-is-entrepreneurship-after-all-bigness-is-not-the-issue-poor/) [Muhammad Yunus](https://sms4smile.com/quotes/author/muhammad-yunus/) > [Every time the U.S. government makes a low-cost loan to someone, it's investing in them.](https://sms4smile.com/quotes/elizabeth-warren/every-time-the-u-s-government-makes-a-low-cost-loan-to-someone-it-s/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [ When the fountains of government \[borrowing\] abundance began to dry up, when through lack of funds and the impossibility of negotiating fresh loans the… ](https://sms4smile.com/quotes/john-t-flynn/when-the-fountains-of-government-borrowing-abundance-began-to-dry-up/) [John T. Flynn](https://sms4smile.com/quotes/author/john-t-flynn/) ## More by Franklin Foer > [“But in the end, the hackers were misunderstood figures. They wanted nothing more than to belong, to subsume their brilliant selves in an even…](https://sms4smile.com/quotes/franklin-foer/but-in-the-end-the-hackers-were-misunderstood-figures-they-wanted/) [Franklin Foer](https://sms4smile.com/quotes/author/franklin-foer/) > [Not even Trump's father's wealth, nor his father's faith in his son's destiny, could save Trump from incessant discipline. At the age of 13,…](https://sms4smile.com/quotes/franklin-foer/not-even-trump-s-father-s-wealth-nor-his-father-s-faith-in-his-son-s/) [Franklin Foer](https://sms4smile.com/quotes/author/franklin-foer/) > [If I'm reading my Facebook feed, it's using algorithms, procedures, and methods to give me what I want, or what it thinks that I…](https://sms4smile.com/quotes/franklin-foer/if-i-m-reading-my-facebook-feed-it-s-using-algorithms-procedures-and/) [Franklin Foer](https://sms4smile.com/quotes/author/franklin-foer/) > [Brazil is strewn with ruins of projects - refineries, power plants - begun but never finished. Most of this investment never landed in places…](https://sms4smile.com/quotes/franklin-foer/brazil-is-strewn-with-ruins-of-projects-refineries-power-plants-begun/) [Franklin Foer](https://sms4smile.com/quotes/author/franklin-foer/) > [“More than any previous coterie of corporations, the tech monopolies aspire to mold humanity into their desired image of it. 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He said today he believes life begins at conception and ends…](https://sms4smile.com/quotes/jay-leno/bush-reiterated-his-stand-to-conservatives-opposing-his-decision-on/) [Jay Leno](https://sms4smile.com/quotes/author/jay-leno/) > [“How can you make an informed decision about whether to save the world if you never leave your tiny part of it?”](https://sms4smile.com/quotes/shaun-david-hutchinson/how-can-you-make-an-informed-decision-about-whether-to-save-the-world/) [Shaun David Hutchinson](https://sms4smile.com/quotes/author/shaun-david-hutchinson/) > [Love is the foundation from which your decisions about your life should be made.](https://sms4smile.com/quotes/anonymous/love-is-the-foundation-from-which-your-decisions-about-your-life/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Indecision becomes decision with time.](https://sms4smile.com/quotes/anonymous/indecision-becomes-decision-with-time/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [If you think of people as making decisions actively, every time we think about the cup of coffee, we say, "How much will I…](https://sms4smile.com/quotes/dan-ariely/if-you-think-of-people-as-making-decisions-actively-every-time-we/) [Dan Ariely](https://sms4smile.com/quotes/author/dan-ariely/) > [It was a conscious decision on my part to take up fewer films. And if you're not seen that often on screen, nobody calls…](https://sms4smile.com/quotes/johnny-lever/it-was-a-conscious-decision-on-my-part-to-take-up-fewer-films-and-if/) [Johnny Lever](https://sms4smile.com/quotes/author/johnny-lever/) > [Decision is a risk rooted in the courage of being free.](https://sms4smile.com/quotes/paul-tillich/decision-is-a-risk-rooted-in-the-courage-of-being-free/) [Paul Tillich](https://sms4smile.com/quotes/author/paul-tillich/) > [I never think of things rationally or intellectually. I swear, every single decision I make is just instinct and my instincts tend to be…](https://sms4smile.com/quotes/neill-blomkamp/i-never-think-of-things-rationally-or-intellectually-i-swear-every/) [Neill Blomkamp](https://sms4smile.com/quotes/author/neill-blomkamp/) > [“it is either you happen to life or life happens to you.”](https://sms4smile.com/quotes/sesan-kareem/it-is-either-you-happen-to-life-or-life-happens-to-you/) [Sesan Kareem](https://sms4smile.com/quotes/author/sesan-kareem/) > [How strange that something so simple could have been instrumental in my decision to ruin one of my most relationships and friendships, and damage…](https://sms4smile.com/quotes/veronica-roth/how-strange-that-something-so-simple-could-have-been-instrumental-in/) [Veronica Roth](https://sms4smile.com/quotes/author/veronica-roth/) > [I am encouraged President Obama now says he will fulfill his constitutional obligation to seek authorization for any potential military action in Syria. This…](https://sms4smile.com/quotes/rand-paul/i-am-encouraged-president-obama-now-says-he-will-fulfill-his/) [Rand Paul](https://sms4smile.com/quotes/author/rand-paul/) > [In New York, you are constantly faced with this very urgent decision that you have to make, about every twenty minutes...you have to decide,…](https://sms4smile.com/quotes/david-cross/in-new-york-you-are-constantly-faced-with-this-very-urgent-decision/) [David Cross](https://sms4smile.com/quotes/author/david-cross/) [Browse all 9,145 Decision quotes ](https://sms4smile.com/quotes/about/decision/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Once upon a time, if you were going to get a loan from me, I would have had to look at your file, and I would have to make a decision about whether youre going to get a loan. Maybe we would meet and talk about it. There would be some level of human involvement and human interaction. 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