Subject category:
Finance, Accounting and Control
Published by:
Ivey Publishing
Version: 2006-01-17
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Abstract
The loans manager at the Dorchester, Ontario, branch of the Canadian Commercial bank, needs to determine whether to extend a personal loan of $60,000 to the client. The loan is going to be used as a down payment to buy out Plumb Parts Supply (PPS) Ltd. from the client''s father. Since profit from the company would constitute the client''s only source of income, the loan officer must examine PPS Ltd.
About
Abstract
The loans manager at the Dorchester, Ontario, branch of the Canadian Commercial bank, needs to determine whether to extend a personal loan of $60,000 to the client. The loan is going to be used as a down payment to buy out Plumb Parts Supply (PPS) Ltd. from the client''s father. Since profit from the company would constitute the client''s only source of income, the loan officer must examine PPS Ltd.