AACL (AACL stands for Assured Assets – Collateralized Loans) provides an innovative lending solution targeting immigrants who want to obtain loans abroad. The loan application process is outdated. Clients communicate with loan officers, banks, or credit unions across various channels (phone, email, or in-person), resulting in delays, lost paperwork, drop-offs, and a customer’s disappointment.
We understand that a lack of local credit history and universal assets valuation keeps millions of immigrants in Canada from realizing their dreams. Our web platform removes the retail banking borders by developing a universal valuation methodology database.
We interpret international credit data into a Canadian equivalent and create a report in a format familiar to Canadian underwriters, who use it to evaluate the applicant’s creditworthiness. Moreover, we implement universal assets and liabilities valuation methods to calculate the net asset value worldwide to prove our client’s creditworthiness while applying for loans abroad.
What are we solving?
Our clients’ problem is well known by many international students, workers and other newcomers in Canada as the country of immigrants. People have built an overseas credit history, purchased and own assets and real estate, and have a great overall credit standing in their home country or previous permanent place residence. Unfortunately, they cannot obtain loans from Canadian Banks due to their inability to verify, collateralize the assets overseas, lack of support and international transactional commonalities, etc.
Millions of immigrants are unable to realize their dreams due to a lack of local credit background. Starting a new life can be difficult without credit cards, loans, mortgages, rentals, phone contracts, and other financial resources from local financial institutions.
Before such a web platform that creates a transparent data exchange between banking institutions and adopts the international credit history to the local lending standards, newcomers have to build their Canadian credit data from scratch.
