Can a student borrow in a lending institution?

Philippines
July 28, 2009 5:50pm CST
Just yesterday, I read a business magazine. Most of the topics there are about people who borrowed money from lending institutions and now, they are successful in their business. And I am just curious if a student like me can also lend money from this lending institutions. Because I am planning to invest online because I am very much active in online business now. Can anyone help me?
1 person likes this
3 responses
@anib1227 (77)
• Philippines
30 Jul 09
I am so happy to note that a student like is very much interested to put up a business. I do agree with some previous comments that you should be 18 yrs old to avail some kind of loans. If ever, you are 18 yrs old, try to ask the Dept of Trade and Industry or LandBank of the Philippines or try to approach your Local Government Unit. I think they have some programs for student entrepreneurs. You may want also to look for a viable cooperative in your area, become a member and apply a loan from them. Of course, you have to be prepared with a proposal and simple feasibility study to prove the viability and sustainability of your business-to-be funded. Goodluck!
@rsa101 (38166)
• Philippines
29 Jul 09
Well in as far as our local situation are concerned, I think you would have a hard time getting a loan if you would declare that you are a student. Most lending institutions in our place would only entertain if you are working or have an existing business. Since online business is not yet widely recognized in our place I doubt if they would allow you to get a loan for that purpose.
@defcon505 (919)
• United States
29 Jul 09
I think you need to be at 18 year old to take a loan and lenders wouldn't just give you money. You need to tell what are you investing for. If its in stocks and mutual funds most lenders would not lend you any money. But if your investing in real estate most of them would lend you. Good luck mate!