How to Get a Loan at 17

If you’re 17 and looking for a loan, there are a few things you need to know. Here’s a quick guide on how to get a loan at 17.

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If you’re 17 and need a loan, there are a few things you should know. First, you may have a difficult time qualifying for a traditional loan from a bank or credit union. This is because most lenders require borrowers to be 18 or older. Additionally, most lenders also require borrowers to have a steady income and good credit history.

However, there are some alternative lenders that may be willing to work with you. These lenders typically have looser eligibility requirements, so it may be easier for you to qualify. Additionally, these lenders typically charge higher interest rates and fees than traditional lenders, so you’ll need to be sure you can afford the repayments before taking out a loan.

To learn more about how to get a loan at 17, read on.

Shop around for the best deal

When you’re ready to start shopping for a loan, compare offers from multiple lenders to get the best rate and terms. The annual percentage rate (APR) is the cost of borrowing money, including fees, expressed as a percentage. The lower the APR, the less you’ll pay in interest over time.

You can use a loan comparison tool like Credible to compare personal loan offers from multiple lenders at once and get prequalified for a loan with soft credit pull that won’t affect your credit score.

Once you find a loan you’re interested in, you can apply for it directly through the lender. If you have questions about any part of the process, Credible has a team of experts available to help — for free.

Find a cosigner

Your best bet for getting a loan at 17 is to find a cosigner. A cosigner is someone who agrees to be responsible for the loan if you can’t make the payments. This could be a parent, grandparent, other relative, or close family friend.

The cosigner should have good credit and a steady income. They should also be prepared to make the payments if you can’t. lenders generally require cosigners for loans to minors because they’re seen as high-risk borrowers.

If you have a cosigner, you’ll likely need to apply for a secured loan. This means that you’ll put up collateral, such as a car or savings account, to secure the loan. In most cases, the cosigner will also need to pledge collateral.

Getting a loan at 17 can be difficult, but it’s not impossible. Talk to your parents or another trusted adult about your options and find a cosigner before you apply for a loan.

Consider a secured loan

If you’re a 17-year-old who needs a loan, you may want to consider a secured loan. A secured loan is one where you put up some sort of collateral, such as a car, to secure the loan. This means that if you can’t repay the loan, the lender can take your collateral. However, it also means that lenders are more likely to give you a loan, and at a lower interest rate, since they have less risk.

Get a part-time job to build credit

There are a few ways to get a loan at 17, but one of the best ways is to get a part-time job and start building credit. You can get a loan through a bank or credit union, but your options will be limited. You may also be able to get a loan through a private lender, but you will likely need a cosigner. Depending on your situation, you may also be able to get a student loan or an auto loan. Talk to your parents or guardians about your options and make sure you understand the terms of any loan before you sign anything.


In conclusion, it is possible to get a loan at 17, but it may not be the best idea. If you are able to get a part-time job and can prove that you have a regular income, you may be able to get a small loan from a bank or credit union. However, the interest rate on these loans will likely be quite high, so you should only consider this option if you absolutely need the money and have no other way to get it.

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