(Original post by jam277)
Yeah I've decided to make a business. I need money for it and a loan too which is going to be nigh on impossible without a job. But I've figured that it wouldn't be too hard to actually start up on the business.
It's such a simple idea, one that's more than feasible to make me money though with the right marketing.
good for you
It is possible to get a buisness loan without an income.. or atleast it used to be. not sure about these days, but back 5 years ago when I was 18, I explored the possibilities of starting a buisness instead of going to uni..
In the end It was not possible, as the location that I needed was quite specific, and I did not have enough time, 1-2 years probably, to wait for a property on that location to open up for me to use..
But, I did get to the point of having finance agreed.. I had a 15k loan agreed with the bank, dispite being 18, and having no income.
All they wanted back then was:
- Really solid buisness plan
- Experiance working in the field that you want to run a buisness in
(and the most important one)
- A home-owner guarnentor who will gurarentee all of the money involved against their home..
I was very lucky in that my parents were willing to do that for me. although they treated it like a proper buisness, and I was required to pitch it to them, multiple times, go through my detailed buisness plan, and prove to them that it was possible and would make them money.
So basically, do you have any generous home-owning relatives?