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Old 11-21-2008, 03:25 PM
Steven Steven is offline
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Join Date: Jul 2008
Posts: 139
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Quote:
Originally Posted by bullish View Post
Of course they loan money - they are in the business of loaning money. I haven't heard any of my friends or colleagues complain about having problem getting a loan from Canadian bank. US banks might have stopped lending, but the Canadian banks are just fine.
Have you actually tried to borrow from a Canadian bank in the last few months? I friend of mine applied for a credit line with CIBC in October 2008 and was denied. I definitely think that the banks have tightened their lending criteria and getting a loan is harder than it was a few months back.
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