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Bank loans 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!
[ ] Want to answer more questions in the Work & School category? Maybe give some free advice about: Personal Finance?
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. ]
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