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Small Business Ideas Forum

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Old 4th May 2006, 12:14 AM   #1
idea_man68
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Join Date: Apr 2006
Location: United States
Posts: 5
Default Financing Question

Is there anyone in here who can give some feedback on various ways to get financing? I've become very confused dealing with banks about what I need to get a business loan. The real confusion comes when you are considering a business in need of a location. I have a house and my wife and I both have jobs, but we have very little ready cash at any given point. What is the best way to proceed to seek financing? Would it be better to sell the house or borrow against it to get the money for start up? If we need to buy a building as well, what then?

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Old 9th May 2006, 04:15 PM   #2
a1steelbuilding
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Join Date: Feb 2006
Posts: 19
Default

It depends on how mcuh money you need and what you are spending the money on. If you need another building you could probably get a seperate mortgage for it. If you need less money you could simply ask for a line of credit. You should think about what are your short and long term plans for your business and then talk with your local bank about possible options.

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