Is a young male usually able to take out a small loan through their personal bank?

Question

Im 19
Credit History...Improving
I have a car loan; current
insurance; current (never late)
american express (high balance tho/ current)
capitol one (current)
phone bill (current)

Answer 1

Sure if you own a bank you can get a small loan.

Answer 2

Yes. Credit history and length of credit play a larger role than age. Sometimes they go hand-in-hand - a younger person might not have a long credit history. You should still be able to qualify for a loan, though. My first year in college, I got so much credit I didn't know what to do wit h it - all because I turned 18.

If you have problems getting a loan try Prosper. They are a very liberal loan company that lets ordinary people post requests for loans on the site. Other people then bid to fill the loan. You can request up to $25,000.

Answer 3

Possibly, though maybe not more than 10k max, sounds like you're right on track. If you have a credit union in your area, you could put in $50 or more to open a savings account, then go from there and apply right after for a personal loan. My kids did this with no credit except current on cell phones, and got loans to get a car and money for school. Good luck