I am a 16 year old who has started my own cell phone company. as far as getting a loan, how could I do so?

I started Cells Wholesale Inc, and after a year of business, incorporated it in the state of california. We are looking to expand our operations on the web, and we also want to invest in a distribution center in Hong Kong. However, I am having a tough time securing a loan, because of my age...

How do you suggest we get funding?

How much do you need? Where should I send the money? Is cash O-K?

from one of the larger companies that dont have barriers

You could have someone to cosign for you.

You may need an adult to co-sign for you.

I hope your business is doing okay, because the person who co-signs assumes responsibility in cas eof default.

Have your parents, or someone with good credit, cosign the loan.

Go to Junior Achievement's Finances page and take a look at their funding-related info/resources; if you can't find specifically what you need, you can probably email a JA advisor/mentor for more in-depth help. Here's the link:
http://studentcenter.ja.org/aspx/PlanFin...

You rock! I wish I'd had a great idea like that when I was 16 - or even now!

If you're incorporated, apply for a loan as the corporation. You'll need an adult officer of the corp to sign the paperwork.

First, are you certain your age is the reason you are having trouble getting a loan? If it is, you will probably need someone 18 or older to sign with you on a loan. Maybe you could name one of your parents as an officer in your corporation and have them apply on the corporations behalf?

get a co-signer.

Wow.....Any pointers for the rest of us???

Sell shares in your corporation and forget about the loan.( this is what I did in my first corporation, and then bought back the shares as I made the money) These shares can be used along with the corporation's assets; ie, accounts receivable and equipment of the corporation such as phones, bands, office equipment, etc., if you still want a loan
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...jj

Apply for the loan through a program for junior entrepreneurs.

I wanted to share this with anyone who is in need of start up capital. If you have bad credit this company will still give you a loan. The catch? Your looking at an interest rate of about 20%. However, once you start paying off the loan your interest rate can drop and your monthly payments will go down. They also report to all 3 credit agencies. I borrowed $15,000.00 ffrom them last year and have had nothing but a positive experience with them.

This is not some "fly by night" company and I do not work for this company nor do I get paid to pass on any info about this company. I am simply doing this to help others who are having the same problems getting a start up loan.

You still have to work,(I put in about 50 hours a week on my webstore), and you still have to be honest. I do not know ANYONE who works 4 hours a day and makes thousands in a week. That's bull****!

I put my heart and soul into my webstore and I simply needed extra funds for inventory to sell. By getting this loan I was able to buy inventory and my sales went up because I had better items to offer and a lot more to choose from.

If your interested please email me at sixkidsandastore@yahoo.com.

I cannot give this company name out on here. I do not have their permission.

One more thing....I DO NOT MAKE MONEY FROM GIVING THEM REFERRALS! I make my money the old fashion way.....WORKING FOR IT.