Paul owns a photography studio, and he has applied for a loan to
purchase a larger space so he can show his, and other local photographers’, work.
As part of the loan process, the bank reviews Paul’s credit history, which reveals that
Paul’s studio has been in operation for six months, Paul has an active loan on some
photography equipment for $8,000, Paul has a credit score of 650, and the studio
turns a decent profit. Given all this information, Paul’s loan is denied.
Determine which item from Paul’s credit history caused the denial.
