home equity

Support Files:
business market planning

Support Files:
start a home business

USING YOUR HOME EQUITY TO FINANCE A BUSINESS

•	Recommended Type:	Home Equity Line of Credit*
•	Recommended Term:	5-10 year DRAW period*
•	Recommended Use:	small business capital and other*

You Know You Have the Talent . . .

plus the experience and know-how to start your own business. But you need some capital. Why not look at the equity in your home equity as a place to start?

You can use your Home Equity Line of Credit as a "Business Starter". Use it as working capital to:

·  finance your ideas
·  acquire a new computer
·  pay for vendor services
·  maintain a positive cash flow
·  purchase important equipment
·  launch a business web site

And while you're at it:

·  renovate your home office
·  consolidate your personal bills
·  you decide: ________________

Your Home Equity Line lets you become the banker. Simply advance yourself the capital you need . . . when you need it.

You will pay interest only on the amount you borrow, which interest cost may be fully deducted as a business expense. Consult your tax advisor for information.

Now wouldn't this be a smart way to get your business off the ground. You control the funds ... as you need ... when you need ... without the hassle of convincing the bank or others to extend you funds.

And once your business get going, use your positive cash flow to pay down the account. Just keep your equity line open as an emergency account when times get slow.

Now!, this smart financial management.

Let us find a lender near you with the best rate and terms. let's start by defining your goals

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Suggestions on Managing Your Account

1. Start with an approved home equity line account from a lending institution.
   
   
2. Open up a business checking account.
   
   
3. Advance working capital from your equity line account to your business checking account.
   
   
4. On your book ledgers, make notation that working capital has been received for your business. You will also note in your ledgers:
   
   

   ·	expenses paid
   ·	interest charges
   ·	all other related business items to operate your business
   ·	you may need an account software to maintain your records and receipts link to view Quicken's Ledger for small business

   
   
5. Your ledger will be used at year-end to prepare tax returns for your business. You need to discuss your situation with a tax advisor to maximize benefits.
   
   

   ·	search online for CPA directory
   ·	search your local yellow page for CPAs
   ·	search your local yellow page for Tax Preparation
   Search IRS Information
   ·	Publication 936: Mortgage Interest Deductions
   ·	Publication 587: Business Use of Your Home
   ·	Publication 583: Starting a Business
   ·	Publication 334: Tax Guide for Small Business
   ·	Publication 533: Self-employment Tax
   ·	Publication 535: Business Expenses

   
   
6. What a smart way to get yourself going.
   Apply now and let us find the right lender near you.

 

*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.

 

Notes: check your credit report for debt balances

Notes: understanding credit debt ratios