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September 8, 2006, Newsletter Issue #31: Getting Small Business Loans
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Tip of the Week
If you're starting your own franchise, you can look to the franchisor for a loan. You should also check with the Small Business Administration, as they can help you get small business loans as well as valuable advice. Other sources for small business loans include home equity, friends and relatives, veteran's loans, banks, and credit unions. If you can get the SBA to guarantee your loan, banks are more willing to work with you.
* Be wary of using your home equity as a source of funding, as you could lose your home if you're unable to make the payments.
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