Question Posted Thursday February 27 2014, 6:28 pm
Can you get a loan from a bank while you are still in school? I have an idea for a business, but I would need quite a bit of money to get it off the ground. I am a girl so I don't really know anything about banks except that is where you get money LOL!
[ Answer this question ] Want to answer more questions in the Work & School category? Maybe give some free advice about: Personal Finance? adviceman49 answered Friday February 28 2014, 10:53 am: If the bank believes you have a solid idea backed up by a solid business plan they might be willing to invest in your business. By investing I mean making you a loan. They would most likely require a parent or guardian to make the loan to as if your under 18 you legally cannot sign any contracts. If your over 18 they would probably want a parent, guardian or other qualified person to co-sign so as to be assured the load can be repaid.
I suggest you go for it. You haven't given your age so I have no idea if you are in high school or college. Regardless of which you are going to need help in putting together a business plan to take to the back. Ask your guidance counselor for help finding a teacher/instructor who would be willing to assist you in writing your business plan. Who knows it might even be worth extra credit towards graduation. [ adviceman49's advice column | Ask adviceman49 A Question ]
Attention: NOTHING on this site may be reproduced in any fashion whatsoever without explicit consent (in writing) of the owner of said material, unless otherwise stated on the page where the content originated. Search engines are free to index and cache our content. Users who post their account names or personal information in their questions have no expectation of privacy beyond that point for anything they disclose. Questions are otherwise considered anonymous to the general public.