If you are under 19 years of age and need a loan, and looking for your loan online, you could be looking for a very long time – maybe not even possible – and I’m sure that’s what you are thinking at this point. If you apply for a loan using an online application form, and they ask if you are 19 years of age, or older, and you answer no, you will be declined instantly. If however, you apply for loan and type in the application that you ARE 19 years of age, or over, you will be asked to prove your age soon enough anyway, so you won’t be able to get around being honest about your age.

Where Can Someone Under 18-21 Years Old Get Approved For a Loan

There really isn’t any conventional banks or private lenders that can approve an 18 year old “kid” a loan, but there are other places who will consider giving you a loan, BUT we will discuss below the typical kinds of lenders who do lend to people under the age of 21. This includes kids at ages of 16, 17, 18, 19 , and 20. We can just use our personal examples of when I was young and trying to borrow money. The reason I got chosen to talk about under age lending is because I experienced what it is like to try and get a loan of some kind, in a world that legally won’t allow lenders to approve you.

Under Age Borrowing From Employers

If you have a full time or part time job after school on the weekdays, and full time on the weekends, you can ask your employer to lend you the money. Basically, you will have to work it off over time and you will pay it back over time off your paycheck. If you borrowed $1000 dollars from your employer and you agree to pay back $200 a month then it would take you 5 months to pay them back. Hopefully you are getting enough hours at work so that will have some spending cash left over after your loan payment.

Keep in mind that you will have to have a proven track record as an employee before the company will lend you the money, and feel confident that you will stick around as their employee to pay down your debt(s).

Under Age Borrowing From Relatives (16-19 Years Old)

If you are 16, 17, 18, or 19 years old, and you can’t get a loan any other way discussed on this post, then you may have to resort to borrowing from relatives. If the banks can’t give you a personal loan because of the law, and you don’t have a job, and don’t have anything you can pawn, you will have to ask your Mom, Dad, Brother, Sister, Uncle, Aunt, Grandfather, Grandmother, or cousin for the money. This is always a difficult decision to make because you are beholden to them for the during until you pay back every cent. You could end up doing chores after and before school to pay down the debt. The worst thing that can happen is if you were given the money – that does not help you, your family, or anyone in between. You must learn that earning money, and getting money comes at a price, and that price is always hard work.

Under Age Loans (16-18) From Pawn Shops

This is a shady kind of loan, and borders on a loan shark loan in some ways. I don’t want to encourage youngsters under the age of 18 years old to visit pawn shops down in a rough part of town, and I certainly don’t want 16 year old kids hanging around pawn shops trying to trade their sports equipment for cash. This is a sad state of affairs, and kids should never have to be borrowing money to make ends meet.

The other question is, “What do you need the money for in the first place?” What exactly does a 17 year old need with a loan for $2000 dollars in the first place? In some cases these very young adults have parents who are absent, and the need a loan to buy clothing, school supplies, and food. This does happen in America whether we want to admit it or not. In this case I will explain how to effectively get a pawn shop loan. If you just want the money to blog on movies, entertainment, and/or junk, then don’t even consider this option.

If you have something of value and it’s NOT stolen, and it’s your personal property, you can bring it to the pawn shop as security on a loan. You will have to let them hold your property until you pay back their cash in full. Once you have paid back every dime of the loan, you will get your money back. Remember to keep the lender’s ticket stub, or document in safe place so that you can redeem your goods at the time of the last payment.

Car Title Loans For Kids Under The Ages of 18, 19, and 20

If you have a written document from your guardian or parent stating that they are supervising your loan, and that they are cosigners or co-borrowers on the lending agreement. Only SOME States will see this kind of lending as legal, so check with your State Government as to whether you are allowed to apply for a car title loan, and receive it.

I knew of a kid who owned a brand new Corvette that his Uncle had given to him from an inheritance. He used a car title loan to get some needed money for a short period of time. He had his parents sign the documents, and he eventually paid all the money back.

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A LOAN CALCULATOR; Enter your loan amount, how many years, the interest rate, and payment frequency (14 for biweekly, 30 for monthly, 7 for weekly. Very helpful so you know exactly what the loan will cost you in interest payments and you will know the total COB (cost of borrowing).

Loan Amount:

Interest:

Years:

Days between payments:
30 for a Month, 7 for Week
and 14 for Bi-Weekly. Easy!