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Criteria To Get A Bank Loan

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Criteria To Get A Bank Loan [#permalink] New post 21 Sep 2010, 04:35
Hi Guys,

I am wondering whether having a dept (bank loan) of about 100,000 USD in my own country (Lebanon) will discourage banks to provide me with another loan to finance my MBA.

For example, let's say I have a dept of 100,000 to a Lebanese bank payable in 10 years and I got admitted to London Business School (I wish :) ). Will HSBC London which usually provides loans to LBS MBA students finance my MBA or will the bank hesitate?

I appreciate your feedback on the matter and thank you in advance.


Regards,
Jack
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Re: Criteria To Get A Bank Loan [#permalink] New post 24 Sep 2010, 19:55
Definitely you will be asked if you have an outstanding loan. And since you do, your credit standing will depend if you are able to pay your loan on time, if you do, then HSBC might consider giving you a loan. However, it will still depend on you ability to pay another loan on top of your existing loan. The question is, can you afford to pay another loan?

Last edited by princess76 on 06 Oct 2010, 20:17, edited 1 time in total.
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Re: Criteria To Get A Bank Loan [#permalink] New post 26 Sep 2010, 11:34
In the case of HSBC and LBS, they have a special relationship. Almost anyone will get a loan from HSBC. However, given that you already have a large loan outstanding in your home country, the amount may be less than the average loan given.

Check LBS website:
http://www.london.edu/programmes/gettingaloan.html
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Re: Criteria To Get A Bank Loan [#permalink] New post 11 Oct 2010, 17:24
Hi guys, any Australian or Australian PR got a loan to do an MBA in Europe? (I will go to the INSEAD Sept 2011).
Or if you have any info about how to get it (which Australian bank does these?), much appreciated...

Cheers!
Re: Criteria To Get A Bank Loan   [#permalink] 11 Oct 2010, 17:24
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