Contacts me to offer a loan and prequalify but loan unsuccessful

<p>Goodday</p> <p> </p> <p>I currently have a loan with Bayport the installment is R1486.00.</p> <p> </p> <p>On 9 May 2017 I was contacted by a customer services agent from Bayport who offered me a loan at a reduced interest rate because I am an existing customer. The system pre qualified me for a loan of R60 000.00 and the installment would be R2590.00. Bayport said they would settle the bayport loan and 2 other loans I have (whose installments amount to R2944.00). They told me to email my payslip and ID which I did. This morning I received an sms saying my loan was unsuccessful. I would like to know why the application was rejected because the installment of the loan they offered me yesterday in less than the installemts of loans I currently pay (Bayport would have settled the 3 loans and I would have paid them one installment.) Also I have an additional income which they never asked me about but which shows on my bank statements. </p> <p> </p> <p>Please advise why the loan was rejected?</p> <p> </p> <p>Thank you</p>