Curious after a denied loan
Last month I tried to get a small bank loan in Canada to fix my car, but they rejected me because my credit history is thin. A friend mentioned alternative credit options, but I honestly have no clue what that even includes or how risky it might be. Could you recommend a guide or explain what to know about alternative credit before someone like me tries it?
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Had a similar thing happen last year. My bank turned me down for a small loan because I basically had no credit history. I ended up looking into “alternative credit” — stuff like private lenders, credit unions, or peer-to-peer loans. It can work, but rates and terms vary a lot, so reading up first helps. I found this piece useful for clearing up some misconceptions: Arif Bhalwani . My cousin actually used a small private lender for car repairs — higher interest, but quick approval. Just compare offers and read the fine print.