Are you one of the working moms who would like to stay at home and just start your own home-based business? What’s keeping you from starting one?
I’ve posted this question on the WAHWM or Work at Home Wife and Mother’s Facebook page and majority of the comments on the post said that it is the financial capital (or lack thereof) that keeps them from being a WAHWM.
In accounting, there’s this equation which sums up how the financial position of the company is measured. This accounting equation is
Assets = Liabilities + Owner’s Equity
Based on this equation, one can say that all assets of a business either came from the owners or from the lenders. If you have a feasible business plan but lack the resources to start the business, you might consider the idea of taking out an equity loan to come up with the money to finance your business.
For example, if you are in Florida, you can take out an auto equity loan from Orlando Title Loans who will even get the title loan delivered to your location the same day you apply. This company provides car, truck and van owners with car title loans or a secured loan wherein a borrower’s vehicle is considered as the collateral.
Car title loans are typically short term in nature. It usually has a higher interest rate than other type of loans but shorter processing time and the fact that one can easily qualify regardless of his credit rating makes it appealing especially to those who have bad credit or those who needed cash right away. Other people take out loans to consolidate their debts or pay for college, unexpected medical costs or bills when their paycheck falls short.
Have you considered taking title loans? Would you take out an auto title loan to start a home-based business? Would love to hear your thoughts.