Marketing Insurance Surveys Small Biz. Starting Out Sales Mgt. Successful entrepreneurs often tap a variety of financial sources to help make their dreams come true. Squirrelling away portions of your paycheck today can help fund your own business tomorrow. Think about borrowing the start-up funds you need from close friends and loved ones.
Entrepreneurs typically find banks reluctant to finance start-up ventures.
You should be aware, however, that the SBA is more likely to guarantee a loan for someone who has been in business awhile than for someone just starting out. Home equity loans. The key to obtaining a home equity loan, clearly, is actually owning a home of your own so you can borrow money on the part of the mortgage that you have already paid off. The bank will either provide a lump-sum loan payment to you or extend a line of credit based on the equity in your home. If you've got money stored up in a retirement savings plan offered by your employer, you may be able to get your hands on some of it in the form of a loan.