Getting A Business Loan

[The Equivocate]

Getting A Small Business Loan

Where do I even begin? I'm only 19 and would need about $5,000 in start-up and for a few months of operations, but I don't own a car, home, or any other real collateral, obviously not much credit, and there's no one that would be willing to co-sign on a loan with me. So, what are my option..

 

[rkahn144]

Try to find investors if you're trying to develop some unique thing.

 

[The Equivocate]

I've been trying for about a year now and haven't found any takers, so now I'm taking a different approach and trying to fund it all myself.

 

[-SMH-]

You could give prosper.com a try. I am a lender there and I always tend to make loans to web developers :tu:

 

[franchise]

Do you have a solid business plan? If you do, then I would start by showing that to as many people as you can. $5,000 is not a lot of money to raise if you have some kind of plan in place to actually start a venture and turn the $5,000 into a business or some kind of return.

If you don't have a business plan...find a mentor/business person who has put one together and has actually done something with their plan so they can give you tips and help you think through your idea.

A solid plan let's people/investors know that you've thought through an idea, that you've put in the time and effort to research and plan out the possiblities and realities of the idea.

Good luck. I wish I was 19 again....knowing what I know now It's great to see young guys with entrepruenerial spirit....go for it.

N Fran

 

[aing]

if your business plan is not too solid and if you have any dificulty in finding investor, maybe you need to ask your family. who knows your family could find you the right way from his/her partner to be your investor.
good luck dude.

 

[hitchhiker]

You could give prosper.com a try. I am a lender there and I always tend to make loans to web developers :tu:

Prosper, really?, do you know if there is an equity version of prosper?

 

[The Equivocate]

Someone else suggested Prosper to me as well. Also, I have a very solid business plan and have had other people tell me this as well.