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Did you know that a large percentage of
new businesses over the next decade will
come from small entrepreneurs like yourself?
We're talking about individuals who begin
a small enterprise with little money, a
lot of work, and some business savvy.
What's needed to start your
own small business:
- working area, such as a room in your
home
- file space
- computer and software
- internet access
- telephone
- fax machine
And, don't forget your "Business
Startup" Home Equity Line of Credit
as an important source of working capital.
It's a perfect credit line for starting
your business. It gives you the control
to advance yourself working capital whenever
you need.
With your "Business Startup"
Home Equity Line of Credit, you become
your own banker, using the equity in your
home to make important capital decisions.
The interest on your equity line is much
lower than unsecured credit lines and
cash advances from business cards.
And the interest you pay may be tax deductible
— additional cost savings. Check with
your tax advisor to see if you qualify for the tax deduction. Click
here is see how much you can save.
Using your Home Equity
Line of Credit as a "Business Start-Up"
gives you total flexibility and control
. . . cash as you need it, when you need
it. You can set your own repayment schedule
by paying the monthly minimum or a little
extra. It's your choice.
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As a small business owner, you can appreciate
the importance of having working capital
when starting your business. Because it
may take a while before you see your first
sales.
Working capital can be
used for different startup investments:
- purchasing equipment
- establishing a Web site that allows
for on-line orders
- closing a contract with supply vendors
- getting investment seed money that
can help close your first sale
Working capital can also
be used to maintain a positive cash
flow:
- you may experience negative cash
flow when the expenses paid exceed
revenues received
- a credit line can help you maintain
working capital whenever your cash
position becomes tight
That is why using your
Home Equity Line of Credit as your "Business
Start-up" can be an important part
of your small business strategy:
- use it as working capital to fund
important business-building investments
- use it as a credit line to maintain
a positive cash flow
The interest on your equity line is much
lower than other unsecured loans and cash
advances from credit cards. And the interest
you pay may be tax deductible — additional
cost savings. Check with
your tax advisor to see if you qualify for the tax deduction. Click
here is see how much you can save.
The "Business Startup" Home
Equity Line of Credit gives you total
flexibility and control . . . cash as you need it, when you need it.
You can set your own repayment schedule
by paying the monthly minimum or a little
extra. It's your choice.
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An entrepreneur needs office space to
operate a small business. You will probably
start with a room in your home.
Sounds great! But how much
is it going to cost?
Use your "Business Start-up"
home equity line of credit to finance
your home office needs.
Use the exact amount you need (up to your
available credit line limit), as many
times as you need — whenever you
need — without incurring access charges
and loan processing fees.
Buy supplies, a computer, software, telecommunications,
and perhaps a builder who needs to extend
the wall.
And if you find that you need more money
for some extra items like a desk or file
cabinet, no problem. You can borrow again
up to your available credit line without
speaking to the bank.
You will only pay interest on the amount
you borrow, which is much lower than many
other financing arrangements. And the interest
you pay may be tax deductible — additional cost savings. See your
tax advisor for information about qualifying for the tax deduction.
Using your home equity line of credit
as a "Business Start-Up" and
"Home Renovator" gives you total
flexibility and control . . . cash
as you need it, when you need it.
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You are traveling to see a client and your
car breaks down on a major highway. The
repair bill is steep:
| Estimated
Repair Cost |
| Parts |
$650 |
| Labor |
150 |
| Towing |
75 |
| Total
Cost |
$875 |
You can't afford a new car right now,
so what are you going to do?
Just charge the repair bill on your credit
card. Then when your credit card bill
comes in, pay it off
using your "Business Start-Up"
Home Equity Line of Credit.
The interest charges on your equity line
are much lower than on your credit card.
And the interest you pay may be tax deductible
— additional cost savings. Check with
your tax advisor to see if you qualify for the tax deduction. Click
here is see how much you can save.
Your home equity line of credit gives
you total flexibility and control —
cash as you need it, when you need it.
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What happens if Uncle Sam hits you hard
on tax day? As a startup, you will have
self-employment and personal income taxes
to pay.
Will the tax bill eat into your hard-earned
cash? Capital you might need to close
the next big deal.
We have a better solution.
Write yourself a
loan using your "Business Startup"
Home Equity Line of Credit.
It
functions as your personal money manager
for unanticipated expenses — like
unpleasant tax-day surprises.
The interest on your home equity line
is much lower than most bank loans or
cash advances from credit cards.
And the interest you pay on your home
equity line may be tax deductible — additional cost savings for next year's
taxes. Check with
your tax advisor to see if you qualify for the tax deduction. Click
here is see how much you can save.
We call this smart financial
management.
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tip:
