Coli adults I applied for a loan

[L68]

better off getting a zero interest credit card for first 6 months or year

 

[TRY GOD]

I just created debit that doesn't enhance my credit

 

[TRY GOD]

better off getting a zero interest credit card for first 6 months or year

I was going to say this.

 

[J.E.T.S]

I got a 4k loan back when my credit was 720. shyt was sweet until I lost my job with 1200 left to pay. Before I knew it I was a slave only paying the minimum until I could no longer afford the minimum along with the minimums on 3 credit cards

Long story short. A 499 credit score with a dismissed bankruptcy. Got a great paying job although it came too late.

 

[BezO]

Capital is cheap now. As long as you did the math and that money will make money, good move.

Debt is only bad if it doesn't pay more than it cost. Rich folks do it this way all the time.

 

[Strapped]

What are the terms on the loan

 

[Mensch Fontana]

I wanted to do a bit over a thousand to cover some expenses and jumpstart my career as an online freelancer/entrepreneur. The minimum is 3000.
The bank associate who walked me through it was a cool breh and explained everything.

Hopefully it gets approved. I just want hear some wisdom from y'all.

Won't get it. Now a days only people who get approved are people who don't need it

 

[Eastside Get The Money]

3 racks

That't not a lot of bread OP. I'd just keep perfecting your idea and stack. No diss, but I believe you're young? Your business idea probably isn't where it needs to be yet anyway.

 

[Secure Da Bag]

Wait until 8 months before you pay it all off. Otherwise, small loans that you can pay on time isn't bad for a 1st timer. Never be late though.

 

[benjamin]

Spoiler

nikka tell em I aint got it but we gone put sumptin on it doe

 

[Obreh Winfrey]

Take out credit cards which will probably have a higher interest rate and potentially get you into a deeper hole? Somebody gotta explain the logic behind that one for me.

 

[Rozay Oro]

3 racks

That't not a lot of bread OP. I'd just keep perfecting your idea and stack. No diss, but I believe you're young? Your business idea probably isn't where it needs to be yet anyway.

I wanted way less but that's the bank's minimum. He said I can use what I need and the rest can be used towards paying back. I just need to pay some few things and figure out if I need a DBA or LLC. I honest didn't even want a thousand but figured that would be a good small cushion just in case.

 

[1 other person]

I wanted way less but that's the bank's minimum. He said I can use what I need and the rest can be used towards paying back. I just need to pay some few things and figure out if I need a DBA or LLC. I honest didn't even want a thousand but figured that would be a good small cushion just in case.

Are you having issues saving 1K?

 

[Rozay Oro]

Are you having issues saving 1K?

As soon as I get a full time and transition into entrepreneurship, no. I've always done part time, that's my problem

 

[Eastside Get The Money]

I wanted way less but that's the bank's minimum. He said I can use what I need and the rest can be used towards paying back. I just need to pay some few things and figure out if I need a DBA or LLC. I honest didn't even want a thousand but figured that would be a good small cushion just in case.

Man for that low of funds I wouldn't do it. Life happens, and if you get hurt or lose your job paying back a stack can be tough. I don't know your situation but I would ask a family member or close friend first if you have the means. Try to get them to loan for free, but you could always offer some type of interest or maybe some type of % stake in your future company.

Do you breh but if you fumble you're gonna look back and say "my credit got deaded for $1000"

Edit: If you do go the family route have a clear presentation and proposal. I'd suggest your start up plans, expected revenue both gross & net, potential to go public if you ever take off, and your 5 yea plan to them.