How can a 17 year old get a small loan to purchase a collection to resell on ebay? I am wanting to get a small loan of $5k but not sure how I can go about doing it. There is a toy collection locally Id like to purchase and resell online and ebay. The thing is I dont have $5k, What can I do?
I'm guessing you would be legally a minor so you would need a guarantor - normally one of your parents for any loan. Put together a couple of pages showing the deal, why you think the resell will work - facts and figures to show you aren't just working on a hunch. If you have a good business case your local bank should finance you. If you have to go to a money lender who isn't a bank then this probably isn't a good deal and you will pay over the odds for the finance.