Age is not of relevance when it comes to great business ideas. Some of the world’s most well-known businesses were started by kids not even out of college, from Microsoft and Apple to Facebook. More recently stories such as the wonder that is TerraCycle have proven that even the very young can be very successful entrepreneurs.
TerraCycle was the brain child of then 19-year-old Tom Szaky in 2001. Now the company is a huge business selling multiple product lines to Target, Walmart, and Home Depot. The whole thing began from worm poop! But how does a young person get financing?
Loans for Students
Some lenders offer loans specifically designed for students or the very young. These level the playing field somewhat, allowing young entrepreneurs to compete for funding among themselves rather than pitting them against their older, more experienced counterparts.
Loans for Women
Female entrepreneurs of all ages can apply for startup small business loans for women. This, again, can help level the playing field somewhat as the potential borrower pool is smaller than with more traditional type loans.
Loans for Minorities
Young entrepreneurs that are part of a minority group, including Latinos, can take advantage of minority business loans as well, despite their age. These loans are designed to help those who are part of minority groups start and grow their own business, and again, may level the playing field somewhat.
Biz2Credit boasts a network of over 1,200 lenders, many of whom offer lending to young entrepreneurs in addition to business loans for women and minorities. Of course, neither age, sex, or race replace a brilliant idea or well thought out business plan. Get those things together and visit Biz2Credit.com today for help in getting to that next step.