Canadian Banks | Forums | Terms of Use

Welcome to the Canadian Financial Forums forums.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   Canadian Financial Forums > Canadian Financial Forums > Personal Loans

Thread Tools Display Modes
Old 10-03-2009, 03:01 AM
Pro1painting Pro1painting is offline
Junior Member
Join Date: Aug 2009
Posts: 7

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.
Reply With Quote
Old 10-28-2009, 12:08 AM
chinoy99 chinoy99 is offline
Junior Member
Join Date: Oct 2009
Location: Halifax, Nova Scotia, CANADA
Posts: 11
Send a message via MSN to chinoy99

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.
Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

All times are GMT. The time now is 09:19 PM.

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2021, vBulletin Solutions, Inc.