Question

Will a bank give me a loan to start my own business at the age of 18?

11 months ago - 4 answers

Best 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]

11 months ago

Other Answers

No way Jose.

by Go with the flow - 11 months ago

Not 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 - 11 months ago

no.

by b - 11 months ago