Loans for under 18 year olds? Watch

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m8nmina0h4
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#1
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Is it possible, say a couple of grand?

It's for setting up a business.

Thanks
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Norfolkadam
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I don't know about where you live but here there is an organisation (EnterpriseGY) who help people set up new businesses. They will help you with money and getting a foot on the ladder. The Princes Trust is one I believe, not sure though.

http://www.enterprisegy.co.uk/ < this kind of thing.
m8nmina0h4
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Can't go to the Princes Trust as I'm only 16
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TheOneWho
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To be honest, I think you're going to be hard pushed to find anywhere willing to loan money to someone under 18. You can't even get a phone contract if you aren't 18. For a business you would have to have business plans made up and be able to tell the bank/organisation how and when you are going to pay them back.
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Clubber Lang
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i doubt you will get a commercial loan

look for a grant

or get your parents to get one
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Talya
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You can't have a loan under the age of 18 as you are not old enough to have credit. Sorry.
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princess_sue
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No I doubt you will get a loan because there is no reason as to why an under 18 year old would need a large sum of money.

Try another way to get some money, like from your parents.
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Clubber Lang
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(Original post by princess_sue)
No I doubt you will get a loan because there is no reason as to why an under 18 year old would need a large sum of money.

Try another way to get some money, like from your parents.
aside from starting a business?

you can sign a credit agreement under 18 but it is not enforceable, so effectivley useless.
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princess_sue
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(Original post by Clubber Lang)
aside from starting a business?

you can sign a credit agreement under 18 but it is not enforceable, so effectivley useless.
I honestly do not think any bank would give a 17 year old a chunk of money to go and start a business. They even scrutinise people of an acceptable age for credit when it comes to business due to the failure rate. So a bank loan is probably not the best option
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kirstygrover
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hi, i need a loan as im currently in college and have a course in may i need to pay for and need to pay for my kit is there any chance of a loan for up to £600?:confused:
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Zap Brannigan
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(Original post by princess_sue)
No I doubt you will get a loan because there is no reason as to why an under 18 year old would need a large sum of money.

Try another way to get some money, like from your parents.
At 17, you are old enough to have a full time job, be married and drive a car. I am sure that more young people need money than anyone else. This is irrelevant, because banks to not lend based on need.
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Angela Ayesu
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(Original post by m8nmina0h4)
Can't go to the Princes Trust as I'm only 16
i need a loan now and pay when am 18 and start working
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kumori
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(Original post by Angela Ayesu)
i need a loan now and pay when am 18 and start working
If only loans worked like that

Posted from TSR Mobile
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Iron Lady
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Wonger.

Ask family for a loan
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cl_steele
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No company is legally allowed to loan you money till youre 18 as far as i believe and unless you have something to back up your loan with collatoral i doubt any friend will help you, best betis to get family to either loan it to you or use them as a proxy [although im not sure if thats legal so check it out] failing that i'll lend you money, only 35% flat fee
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jelly1000
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(Original post by cl_steele)
No company is legally allowed to loan you money till youre 18 as far as i believe and unless you have something to back up your loan with collatoral i doubt any friend will help you, best betis to get family to either loan it to you or use them as a proxy [although im not sure if thats legal so check it out] failing that i'll lend you money, only 35% flat fee
check the date of the op before posting
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