Open up a business
checking account
Additionally,
we suggest that you get your personal pre-paid credit card for online and merchant
purchases (best for budget control and fraud protection)
Use your book ledgers
at year-end
to prepare tax returns
for your business. You need to discuss
your situation with a tax advisor to maximize
benefits.
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.
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 . . . cashas 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.
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.
Note: The
recommended product, term and use are listed
as illustrative purposes on how you might
use the equity in your home. Please note
that your circumstances may be different
and that the recommended product, term and
use may not fit your particular need.
YourEquity.com is not a lender. Therefore, we cannot quote rates or guarantee best terms. We refer applicants interested in getting a lending quote to Secure Rights, a licensed mortgage broker representing multiple home equity lenders.