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Veteran Eric Gets the Boat of His Dreams

About Eric

Eric knew he could manage a loan with his pension, but didn't know how to convince a lender otherwise.


Eric, a keen fisherman, has always dreamed of getting his own boat. But not just any old rusted-out tin can – a real boat, worthy of a budding sailor with years of fishing ahead of him. These days, Eric wants to get away as much as possible and appreciate the relaxing side of life.

Eric is on the Vet Affairs pension and his finances are in good shape. He has never let himself get behind in rent and his bank statement proves his prudent financial management skills. With this in mind, Eric figures that he can manage a loan and applies for boat finance with his bank.

The bank looks at his Vet Affairs Pension and rejects his application. They said that they needed Eric to be employed before they were comfortable in offering a boat loan. Eric knew he could manage the loan, but didn’t know how to convince a lender otherwise. That’s when he called Rapid Finance.

Age

66 years old

Employment

Retired

Income

$2,000 per month on Vet Affairs Pension

Past Credit History

Good

How We Helped

  • Step 1

    We were able to prove Eric's good financial management ability.

  • Step 2

    We were able to show that Eric's Vet Affairs Pension would be a permanent source of income, much like a part-time job.

  • Step 3

    We took Eric's strengths and matched him with the right lender for his boat finance.

The Outcome

Eric got finance!

He was able to get $11,000 for a boat and start living his dream!

Eric had trouble getting finance, but the team at Rapid were able to help. How can we help you?
Apply for Finance Now

Other People That Rapid Has Helped

Please Note:
These case studies are based on actual outcomes we have achieved for real people. Their names and photographs have been changed.