Home Based Business Start Up
April 7th, 2009 | 
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Question: Where can a new Home Based Business owner get start-up money?
When starting a new company, where can the new business owner apply for initial capital?
I would like to learn from other's people experience (established new business owners) where did they get the money for their first year of business (replacing my previous employee salary and hoping for possible 1-2 projects in the first year of operating). My business is currently home based and it employs only myself.
The Internet is full with these ”apply for government grants” promotions but from what I read it's mainly a scam. More conservative options I read are applying to a loan backed by the SBA or maybe American Express.
Answer: Good grief - the amount of people selling stuff to people in their answers and not answering questions in this section is ridiculous!
We took out a second on our house. But at the same time, my husband still maintains his regular job because it will be awhile before we are seeing enough for him to be able to quit.
So if you own and have any equity, that is a possibility. Your options of SBA loans, etc. are good thoughts. If you have good credit, apply for business credit cards - many a businesses are begun that way.
Good luck! It can be a scary prospect to go out on your own, but with hopefully good results when you have your own business!
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