In the initial start-up phase of the business, other direct sources of financing include home equity lines. The home equity line is essentially asset-backed borrowing. You could do the same thing with the business if it had assets to pledge. To obtain a home equity loan, you apply to a bank or financing institution and the loan is secured by a lien on your home, usually a second mortgage.
If, after consultation with your professional team, you decide to form a limited liability company, you will need to file Articles of Organization with the state and draft an internal …
After consulting with your professionals, you will most likely need to form an entity to raise capital. Most entrepreneurs will form either a corporation or a limited liability company. This …
As part of your business strategy, planning, and feasibility analysis, you will commit your plan to paper. The document produced is typically called a business plan. The purpose of a …
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