for example starting at age 18...i begin building my credit up..what age will i be able to get a bank loan to open a daycare center (how ever much it is going to cost at that time)
2006-10-28 16:18:54 · 6 answers · asked by DOMiNiCAN MAMi 1 in Business & Finance ➔ Credit
Credit will play an important part but it sound like to me what's important to you is opening your very own daycare. If so, don't wait until you have all the answers, go for it! Have you ever heard of the saying "when the student is ready the teacher will appear".
Creativity is the best substitute for money. Some states will even pay a check for home sitting, most allow 4 - 6 kids. Try this for 6mos. or until you out grow your home. Not only will this give you an income but it will also give you experience needed to run a day care outside your home. Even with decent credit no experience is often frowned on by lenders. One of my close friends
is President of a local bank, so I know this to be true, experience is just as important as credit.
Glad I can help!
2006-10-28 17:09:01 · answer #1 · answered by Richguy 1 · 0⤊ 1⤋
The first poster who says nobody has the answers isnt very bright. Look at all the answers. Go to the site below and check out the links. You will find resources for all types of grants and loans. Check the "Child Day Care" page and the "How To Start A Daycare" page also.
2006-11-01 06:44:55 · answer #2 · answered by Daycare Answers 3 · 0⤊ 0⤋
In order to get a loan for a business you will probably have to prepare a business plan first, you could spend a lot of time getting your credit and finances in order, but if you do not have a business plan you probably will be wasting your time.
2006-10-28 16:28:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Your credit score changes very frequently, so it really depends on your own personal financial situations. I would be more concerned about the credit score. Get a copy of your credit report and score from Experian, Equifax, or TransUnion. They have a Report Analysis to help you figure out which areas of your report need improvement, for example, lowering your debt : limit ratio or waiting a while to have a longer credit history.
2006-10-28 16:29:59 · answer #4 · answered by Need2Know 1 · 0⤊ 1⤋
The amount of years does not matter. All that matters is how you have handled credit that has been given to you. Getting a business loan at any age is hard unless you have perfect credit.
2006-10-31 14:59:20 · answer #5 · answered by luciousgreeneyedlady 5 · 0⤊ 1⤋
Yeah, but he wouldn't technically be part of the fun. It's just another business deal. It would just bring more stress because people would be questioning his motives.
2016-05-22 04:32:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋
NOBODY HAS THE ANSWERS TO THESE QUESTIONS..
WORK HARD AND APPLY WHEN YOU THINK YOU CAN MEET STATE STANDARDS
2006-10-28 16:25:53 · answer #7 · answered by cork 7 · 0⤊ 1⤋