I was denied a small business loan. How can I get approved next time?

I was denied a 15,000 loan (at a local bank that has several local branches) for starting my small business, because I have no equity or collateral, but I'm only 22 years old. Not many 22 year olds that I know have stocks, bonds or investments.

In the meetings I had with the loan manager, she seemed impressed and confident in my business plan. But on paper, I guess I don't seem like such a good loan applicant.

Is it more likely that I would be approved at a national bank?

What tips can you give me for next time I apply.

-Which banks are likely to approve someone without collateral.

-OR, What can I use as collateral or as a substitute.

-Any other tips?

Any information you can give me would mean a lot. Thank you! :)

I was denied a small business loan. How can I get approved next time?

Try the Small Business Association.

I was denied a small business loan. How can I get approved next time?

Can you get a co signer on the loan?

I was denied a small business loan. How can I get approved next time?

have a co signer with you so they will be more impressed i have two houses in my name and my own buisness and im only 21 if you had a credit card in your name while you were young this would have helped you alot by now

I was denied a small business loan. How can I get approved next time?

regardless of bank size, to get an sba approved loan, you need some kind of collateral.. or a co-signer who has collateral... for 15000, try to find a private investor.... once you have been in business for a few years, and show an increase in profit as well as the ability to grow, this would also allow you to get approved for a small business loan....