Denied Business Loan Capital One? Last week, my partner tried to get a small business loan of Cape One.He do not think it would be a problem because it has always been "pre-approved" letters Cap A business loan and score.However has a 700 + credit after completing the online app was refused (I do not remember the reason). I told him to let me try to use my information, I filled out the online form and I received an email back saying more information was needed before proceeding. Later this week, a man of Cape Town called and started asking me very specific business issues questions.TH last, he asked me if I owned was the company I was getting a loan, and I have said "not yet, why do I have the loan is part of the case," he said then my loan could be approved because it unsecured.Today I received a Cape letter stating that I was not approved because the applicant was not the person who was solicted for offer.Why did they waste my time if they would not give me the loan anyway?
A word nonprofit.
Shipments are pre-approved garbage ... If you read the fine print, they will tell you it is subject to the approval of others. Send an email to 1,000 people, hoping they will respond, knowing that these items, many not actually eligible.
Second ... the first person solicited (baited) was your friend., which had already been refused.
Any credit card company, legitimate or rip-off, will interview as many people as they can, hoping to lend money, making a profit from interest. It is the goal of all lending activity. They will not know your specifics until they go through the process.
You realize (or perhaps research) what is known as predatory lenders, who charge high interest rates? Do not call the capital that ... but if you get a loan from one of those who love to those who are willing to limit the risk .. the borrower often wind up paying much more than they would other sources. Sometimes it could be advantageous for you to be turned down over the long term.
Write a letter to Capital One.
Posted on January 24, 2010.
