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| *Ostroff, Fair and Company>>>Personal Finance |
I am 14 years old and i need to get a bissness lone how could i do that? |
i have a great bissness right now if i could get a lone i could be making about $13,000.00 every two months profit but i would need a 8,100 dollar lone errg it's ture what they say you need money to make money Oh, go to the bank immediately! You'll definitely get at least an $8100 "lone" and in fact, since you'll be making so much money they might even just give you some money too!! you should start by spelling business correctly. You also need to be of legal age. If you want a loan, you need a cosigner. Talk to your parents. First, learn how to spell correctly. Once you have mastered that task, learn how to write a business proposal. You will need the proposal for when you go to a lending institution to request a loan. Then you will need to wait until you are at least 18 before you can apply for a loan. But if you are really in a hurry, then ask your parents, grandparents or other relatives if they could assist you in doing all of the steps requiered to secure a loan. Four tips! 1. You need to use type speller, write up a small business plan, explaining what it is that you are trying to accomplish or what product you want to sell! 2. You to show how much it will cost to accomplish it and how the money is going to be used? 3. Then you need a plan on how these lenders will get paid back. First, I can't imagine a bank loaning money to a 14 year old unless everything is perfect, and it's co-signed by an adult, so my best advice would be to bring this idea to your rich family members first willing to take a chance...someone like a gambler. (Just watch the interest rates) If you're family is not the type to trust you with the money, then it's going to be harder to find a private investor unless you had something of value as collateral to protect their investment. However, good luck and their might be someone for you out there if this idea is smart and good enough. When you fill out the LONE application, you might want to spell it LOAN. :-) I doubt that you can get that kind of a loan at your age unless you do so from a parent or relative. Sounds like you have really thought this through though. I hope you find your funding. You have to be at least 18 years old to be considered to get anything in regards to credit, and even then, most banks woudln't give you any money. the concept is that you'll pay them back the money, but you're not legally responsible for anything yet. |
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