Do canadians utilize a credit system as well? - GoFuckYourself.com

Paulzy · 04-05-2005, 12:27 PM

I have some friends in Canada that would like to get financing (~100k) for equipment, however are unable to get it here in the USA because they are canadians.

The equipment would be located in the USA, so they havent been able to find a company that would finance them in Canada but allow the equipment to be in another country. (USA)

Would it be possible? I know they could just create a new USA corp for like $200 but it wouldnt have any credit, so what are some options?

CDSmith · 04-05-2005, 12:45 PM

I find that banks here in Canada tend to play it cool with you if they don't know you. That is, unless you walk in and dump a large wad of cash into an account, or set up a large mortgage with them and slap down a huge down payment.... then they fall all over themselves to set you up with a line of credit and whatever else you need, including a business loan.

I'm sure most banks are the same with regard to investing a loan into a company like the one you're describing. If they're shown enough proof of solidity and you have enough assets, working capital and a solid business plan, you might find a Canadian bank that would set something up. I say "might" because it's iffy.

One could also advertise in local papers looking for investors. Not sure how successful that would be as I've never tried it.

04-05-2005, 12:27 PM	#1
Paulzy So Fucking Banned Join Date: Sep 2002 Location: Shaolin Posts: 199	Do canadians utilize a credit system as well? I have some friends in Canada that would like to get financing (~100k) for equipment, however are unable to get it here in the USA because they are canadians. The equipment would be located in the USA, so they havent been able to find a company that would finance them in Canada but allow the equipment to be in another country. (USA) Would it be possible? I know they could just create a new USA corp for like $200 but it wouldnt have any credit, so what are some options?

04-05-2005, 12:45 PM	#2
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	I find that banks here in Canada tend to play it cool with you if they don't know you. That is, unless you walk in and dump a large wad of cash into an account, or set up a large mortgage with them and slap down a huge down payment.... then they fall all over themselves to set you up with a line of credit and whatever else you need, including a business loan. I'm sure most banks are the same with regard to investing a loan into a company like the one you're describing. If they're shown enough proof of solidity and you have enough assets, working capital and a solid business plan, you might find a Canadian bank that would set something up. I say "might" because it's iffy. One could also advertise in local papers looking for investors. Not sure how successful that would be as I've never tried it. __________________ *Promote Wildmatch, ImLive, Sexier.com, and more!!* ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634