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  #11  
Old 10-03-2009, 03:01 AM
Pro1painting Pro1painting is offline
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I have tryed a couple different banks and credit cards. Oh well, I had to pass on this course and equipment this time. I am going to try again when the snow melts.
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  #12  
Old 10-28-2009, 12:08 AM
chinoy99 chinoy99 is offline
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Location: Halifax, Nova Scotia, CANADA
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Quote:
Originally Posted by Canadian View Post
Was that one of the big 5 Canadian banks? If yes, have you tried smaller bank/financial institution?
Hello Pro1painting:
Do not get dishearten with this. My expertise is in the field of credits & loans. The reason the bank declined your request of CAD $15,000/- loan is as under:- (this is as per my experience)

1) Your age factor counts as well (21 years is too young)
2) Your job stability and salary (salary per month you showed is appx CD $2,500)-
which is too less for a CAD $15,000/- loan)
3) Your credit score is 630 (as you have mentioned earlier). To sanction a loan a banker
would not only take your credit score into account)
4) CAD $15,000/- loan is an exorbitant amount and you did not mentioned any reason
for acquiring this loan such as personal expense for car, house renovation, college
fee, consolidation of past loans etc etc

My suggestion is start with a small loan like CAD $5,000/-.

The five key elements a borrower should have to obtain credit:
character -(integrity),
capacity -(sufficient cash flow to service the obligation),
capital -(net worth),
collateral -(assets to secure the debt),
conditions -(of the borrower and the overall economy).

Hope this helps. Regards.
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