Apr
8
I am interested in opening a small business but my only equity is in my home, is it possible to get a loan?
Filed Under Small Business | 4 Comments
gerb30 asked:
My credit is good and I do have quite a bit of money but it is all in my home. What are my options? I live in Canada.
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My credit is good and I do have quite a bit of money but it is all in my home. What are my options? I live in Canada.
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Apr
7
Hannah H asked:
I wnat to know why you need a license and what areas you can start in without a license, some good ideas to get my foot in the door. Really I want to start a buisness of Flipping homes, I know all the labor end of the deal I just need help with the paper work end. How do people get home loans for this with not that great credit?
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I wnat to know why you need a license and what areas you can start in without a license, some good ideas to get my foot in the door. Really I want to start a buisness of Flipping homes, I know all the labor end of the deal I just need help with the paper work end. How do people get home loans for this with not that great credit?
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Dec
14
Is a home equity loan a good idea for financing my new business?
Filed Under Small Business | 3 Comments
designtime asked:
I am a web developer and am thinking about quitting my day job and starting my own company. I’ve got some clients lined up already but need some financing to pay for startup costs such as equipment, supplies, and my office lease. Dipping into personal savings is not an option since there isn’t much there.
We’ve got a good amount of home equity. Would a home equity loan be my best option for getting the ball rolling on my business?
Thanks for the suggestions so far - much appreciated. Forgot to mention a few things:
I am a web developer and am thinking about quitting my day job and starting my own company. I’ve got some clients lined up already but need some financing to pay for startup costs such as equipment, supplies, and my office lease. Dipping into personal savings is not an option since there isn’t much there.
Thanks for the suggestions so far - much appreciated. Forgot to mention a few things:
1 - I’m set up as an LLC
2 - Office “lease” is month-to-month and I will take over my current employer’s payments of (a whopping) $150/month
3 - Two small kids at our small house so the cheap office is better than a home office at this point.
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