LOC increase above standard limit

[Futureresident]

Ive asked this before, anyone have any recent success with extending their LOC beyond whatever their bank's standard professional line of credit for med limit is? If so, are you able to provide specific contact details of the rep?

 

 

[Histolytica]

I tried hard when I was in my last year of residency.  I went through the process with rbc, scotia, and md management.  Nobody would increase it above $285.  It was quite frustrating because I really only wanted 10K more as a buffer during fellowship; but no-dice.  I hope you can find something.  Good luck

[GTA Med Advisor]

23 hours ago, Futureresident said:

Ive asked this before, anyone have any recent success with extending their LOC beyond whatever their bank's standard professional line of credit for med limit is? If so, are you able to provide specific contact details of the rep?

 

 

We will do it on an exception basis, but you'll need a suitable co-signor for the increase. Also keep in mind that we are supposed to be increasing our limits any day now.

[The Ace of Spades]

8 hours ago, GTA Scotiabank Med Advisor said:

We will do it on an exception basis, but you'll need a suitable co-signor for the increase. Also keep in mind that we are supposed to be increasing our limits any day now.

With the recent purchase of MD Management by Scotiabank, do you see Scotiabank LOC have a more competitive advantage for residents/fellows? Will National Bank of Canada no longer be the preferred institution with MD Management?

[Bambi]

It is a no brainer that National Bank will soon be history. 

[GTA Med Advisor]

I can't see that arrangement lasting once the purchase is finalized.