This is an area where you will get many differing opinions. An equity line can be a very viable option in starting a business, just realize that you are putting your home at risk if you default on the loan. This can make some individuals very nervous. Though in reality, when you borrow money for a business, you most likely will have to use your personal assets as collateral anyway. The key is making sure you have a well thought-out business plan and model in addition to being able to "handle the worst case scenario" if the business doesn't go as planned. There's always going to be some risk, the goal is to make it a calculated risk that you've devoted much time and energy into the forethought of the business plan and business model to minimize your risk.
Jim Koch launched the Boston Beer Company from his kitchen table in 1984. Now, 30 years later, the leader of the craft brewing movement is doing more than $700 million in sales. Here’s what he learned about starting up.
The Coolest -- a cooler that comes equipped with a rechargeable blender for mixed drinks, a smartphone charger and other goodies -- is currently the second most funded project in the crowdfunding site’s history.