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Basically, many lending companies prefer less risk with a loan in approving them especially for a non-collateral loan like a
seaman loan. But what if your co-borrower or allottee is your mother or aunt or a nearest relative who happens to be a senior citizen? What happens if your co-borrower is already over the age of 60 years? Is there a way to still get consideration for such special case?
Well, in many cases, the only way to remedy this allottee co-borrower problem is to provide another co-borrower who is also an immediate relative. To the least, a nearest relative. If this happens, you may or may not need to change your allotment certificate with your manning agency.