Proof of funds - Loaned money to friend and received

[vivekforbes]

I am gearing up to apply for EE, and i am improving my funds in case if i get ITA for FSW. I loaned money for two friends, and returned the money back to me. For one friend, i loaned $1000 twice, and he paid me back. Another friend, i loaned $430 for long time ago, and he paid me back week ago.

I am planning to provide my bank statements and all the transaction (Interac transaction - both load and returned transaction) is there. My funds purely from my job in Canada. Do i need to attach a LOE for the explanation, and providing statements are enough?

Also, i am going to apply only around beginning of April.

 

[JoacRy]

Draft a loan agreement between you and your friend(s). Ensure the agreement is pre-dated prior to repayment and loan of capital.

Also ensure the following factors are present:

1) You are recognized as the lender
2) Your friends are recognized as the Borrower(s)
3) The loan(s) is/are designated as an 'interest-free' loan
4) Repayment is to be made for the full amount of the loan and is 'capital' in nature
5) No collateral is offered in exchange of or for the capital consideration
6) Date, address and details of you as lender and your friend(s) as borrower(s)
7) Get each pre-dated signed loan agreement signed by two independent witnesses
8) Notarize the loan agreements for added authenticity

The credit deposits on each bank statement will serve to re-enforce the contents of the loan agreement (s)

Any questions let me know.

Good luck.

 

[vivekforbes]

Draft a loan agreement between you and your friend(s). Ensure the agreement is pre-dated prior to repayment and loan of capital.

Also ensure the following factors are present:

1) You are recognized as the lender
2) Your friends are recognized as the Borrower(s)
3) The loan(s) is/are designated as an 'interest-free' loan
4) Repayment is to be made for the full amount of the loan and is 'capital' in nature
5) No collateral is offered in exchange of or for the capital consideration
6) Date, address and details of you as lender and your friend(s) as borrower(s)
7) Get each pre-dated signed loan agreement signed by two independent witnesses
8) Notarize the loan agreements for added authenticity

The credit deposits on each bank statement will serve to re-enforce the contents of the loan agreement (s)

Any questions let me know.

Good luck.

Thanks for your reply. its not exactly a loan. Just gave money to him in emergency, and he returned it back in two weeks. Does $1000 is a big money? Its just a transaction we do most of the time.

I am in Canada, and its not a big deal. I was wondering if its going to be a problem.

I am eligible for both FSW and CEC,and Is it possible to eligible only to CEC? I thought saying NO to valid job offer question, and enter $0 as fund is enough to qualify only for CEC, but it seems like its not always true.

 

[vivekforbes]

Bump!