Borrow From Yourself When Starting A Biz
Sometimes the greater challenge for entrepreneurs isn’t landing on a winning idea; it’s finding the money to start a new business venture.
It’s been said there are three common sources for funding — family, friends and fools. In reality, personal savings and investment are the top funding sources for start-ups.
Historically, many small business owners found easy access to cash for financing their business through their home equity. In today’s economic environment, with home values significantly deflated, this may not be practical. Most homeowners who’ve purchased within the past six years have witnessed a significant drop in their equity.
Robert Wolverton, a broker with Cobalt Mortgage, has seen the best and the worst of times in his 14 years in the business. More.
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