2006-08-04 14:02:49 · 6 answers · asked by Karl 1 in Business & Finance ➔ Other - Business & Finance
Refinance your home. If you have equity in your house then you will get anywhere from 5k up from a refi. Then you can put the money into a interest bearing CD. Once you do this then you can borrow against the CD. The reason for this is that a CD is currently offered at 5% for 12 months. This makes a loan @ 10,000 15% become 10 percent and so on. Then once you pay back the load you still have the cd to cash out.
2006-08-04 16:05:45 · answer #1 · answered by Johnsmatrix 3 · 1⤊ 1⤋
If you don't want to use the house as collatral in a small business loan through a bank, you could take a mortgage out or get a home equity line of credit to serve as startup cash. It's essentially the same, though.
2006-08-04 14:08:05 · answer #2 · answered by Novice restauranteur 3 · 0⤊ 0⤋
Keep your equity safe....
Take a look at how I do my psychic business from home.
Then see if you can fit something similar around your own area of expertise. (About $300 will get you started.)
Then all you need is a passion, some persistence, and you know that old fashioned word - w.o.r.k. http://www.psychic-junkie.com/are-you-psychic.html
2006-08-06 11:30:01 · answer #3 · answered by Anonymous · 0⤊ 0⤋
That's what "using" your equity means; putting your house up for collateral for a loan.
2006-08-04 14:08:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Become Incorporated. It will cost about $200.00 a year, but if your business goes belly up than they cannot touch your personal property. Thye can only touch the corporations property. You could alos try taking a business class and learning all the tricks of starting small business.
2006-08-04 14:08:47 · answer #5 · answered by Anonymous · 0⤊ 0⤋
anytime you use equity from house your house is at risk if you dont pay
2006-08-04 14:08:02 · answer #6 · answered by T****A 2 · 0⤊ 0⤋