I’M 18 YEARS OLD WITH A $300 CREDIT CARD LIMIT. DO I QUALIFY FOR A $20,000 LOAN TO FINANCE A BUSINESS.?

{ 4 comments… read them below or add one }

KMcG May 11, 2010 at 12:53 pm

Depends, what kind of business? Do you have any experience in that business? Special skills? A partner with special skills? Proof of other successes? A business plan? Limit on the CC doesn’t mean much when it comes to getting business financing, except that you have some personal credit.

MadMan May 11, 2010 at 1:35 pm

Depends but based on the little you have stated here, most likely not.

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Craig May 11, 2010 at 2:19 pm

It it’s a brand new business, highly unlikely.

If it’s been around for 3 years or more, and you can provide balance sheets, profit reports, and all that to your bank, then it’s likely.

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