View Full Version : Need Finance
25-07-2005, 09:49 PM
I need a small loan for my new business - does any one know where I could go to find out how to get this.
(im 16 years old)
25-07-2005, 09:51 PM
I think at 16 you are going to be limited to friends and family for your loan. Could you possibly put your idea to them and raise some funds that way?
26-07-2005, 09:27 AM
If it is a small loan and you are serious about atarting the business then you could try and raise some cash yourself...
You could probably raise about £500 - £1000 if you set your heart on it.
If your friends or family need convincing then maybe you could say "If I can raise £500 could you lend me £250".
Just a few examples of what you could maybe do...
wash cars for a weekend...if you live on a terrest street go down the street £5 a wash £10 for inside and out...
But dont be fooled it would be hard work.
26-07-2005, 05:02 PM
If you are only 16 and cant get finance, theres no reason why you cant get a few jobs and work during the day. Then during the night plan what you intend to do, by the time you are 17 you should have an ample amount of money to start something up. Sounds hard and it will be, just dont get to used to the rat-race way of life and save your money. Thats probably your best option at your age, all depends on how disaplined you are.
Good luck with it all anyway.
What do you want the money for?
If it is to buy your first property I can't see friends and family helping.
At your age I earned a few quid here and there without needing any cash. Then at 16 I had the £500 or so I had to spend to get my printing business running.
26-07-2005, 08:17 PM
what sort of jobs did you do?
Started washing cars and then getting a group of friends to wash the cars while I took an even cut for being the manager.
Made a few quid on the way to school in winter clearing snow of peoples cars (doesn't happen often)
Started printing letterheads on plain paper but in 1996 not many people had computers.
I built PCs up for friends + family and made a nice little margin while still being under the prices charged by the big suppliers at the time, those places have cut their margins now though so probably not the same money to be made unfortunately.
Probably some cash to be made fixing peoples machines still if you've got the technical experience though.
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