Last week my partner tried to get a small business loan from Cap One.He did not think it would be a problem since he's always recieving "pre-approved" Cap One business Loan letters and he has a 700+ credit score.However, after filling out the online app he was denied (I can't remember the reason).I told him to let me try using my info, so I filled out the online application and I recieved an email back saying more information was required before proceding. Later that week a man from Cap called and started asking me very specific business questions.The last ques he asked me was if I owned the business I was getting a loan for and I said "not yet, the reason I am getting the loan is to own part of this business", he then said my loan could not be approved because it's unsecured.Today I recieved a letter from Cap stating that I was not approved because applicant was not the person who was solicted for the offer.Why did they waste my time if they weren't going to give me the loan anyway?
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28th January 2008, 15:56
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