Question
Will a bank give me a loan to start my own business at the age of 18?
1 day ago - 4 answersBest Answer
Chosen by Asker
unlikely; why?
credit
collateral
do you have either?
some ask for a biz plan
I am guessing you will "strike out" cause most
new adults are not ready to the play the BANK game.
but I am betting I can explain how to get your biz started without a loan
[i assume you have done market research and written a biz plan]
Other Answers
No way Jose.
by Go with the flow - 1 day agoNot a chance. Any bank or credit union will require a valid business plan that shows that you can pay the loan back. Go to sba.gov/smallbusinessplanner/plan/w... , www.bplans.com/ or www.score.org/template_gallery.html... for instructions on how to write a business plan and sample business plans. You should have a credit score of at least 700. You will personally have to put up 30% of the funds as no bank or credit union is going to assume all of the risk.
by Henry - 1 day agono.
by b - 1 day ago