07
February

Applying for business credit without being age of majority?

I am sixteen and running my own business. It is registered in Ontario as a sole proprietorship. I can’t get credit because I am under the age of majority. If I had registered it as a corporation, would I be able to get credit? Since the company would be an entirely separate legal entity.

You cannot incorporate if you are under the age of majority. Someone over 18 would need to register the corporation for you.
The corporation can get credit as long as it is creditworthy, just like an individual can.

One Response to “Applying for business credit without being age of majority?”

  1. ?infiniti? Says:

    February 7th, 2010 at 7:41 pm

    You cannot incorporate if you are under the age of majority. Someone over 18 would need to register the corporation for you.
    The corporation can get credit as long as it is creditworthy, just like an individual can.
    References :

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