7 WAYS TO GETTING FINANCE FOR YOUR HOME BUSINESS.

3. Talk to your local bank. Find out what they require for a business loan application and also if they are participants in the SBA loan programs. Be diligent and shop around for the best loan packages, and make sure you fully understand the terms. 4. You may be able to borrow from insurance policies, IRAs, 401k's, stocks and securities, etc. Check with your insurance agent. Also, investigate what the policies are regarding borrowing from your mutual funds or retirement account. Before borrowing, make sure you fully understand the pay-back terms and any potential penalties. 5. Apply for a home equity loan. Borrowing against the equity on your home is permitted in all states except Texas. Just make sure you're diligent about paying back the loan or you could end up losing your home. 6. If you're a woman, you may be eligible for a Specialty Loan. These types of loans are now being offered by local banks. Who knows? Filling out a one-page application just might get you an unsecured credit line or loan ranging from $2500 to $50,000. 7. Try borrowing from family members and/or relatives. If you have a good relationship with your family, perhaps you can make a persuasive argument for them to loan you money for your home business. Just remember, borrowing from family or relatives shouldn't be treated any differently than borrowing from a bank. It's just as important to pay them back on time as well.   Thinking about starting a home business? Do you already own a home business but need cash? Perhaps you can qualify for a small business loan. However, before you attempt to borrow any money, you first have to figure out how much money you need. The easiest way to do this is by putting together a business plan. A good business plan is critical to your business success. It can be a simple one page outline or it can be many pages, but it should spell out exactly how much money is needed and what it will be used for; your potential market and customers and potential for growth; what makes your business unique from others; and a rational and conservative projection of your business's cash flow. Your plan will also help you set business goals and define the steps necessary to help you reach those goals. It is a guide for you to refer to on a regular basis to help evaluate your business progress and help keep you focused on your priorities. Besides, a business plan is almost always required when applying for a bank loan. If you need assistance in writing a business plan, your local library should have several books on the subject. You can also try Amazon.com. In addition, you should be able to get help on writing a business plan from one or more of the sources listed below: 1. The Small Business Administration (SBA) offers numerous loan programs to assist small businesses. It is important to note, however, that the SBA is primarily a guarantor of loans made by private and other institutions. http://www.sba.gov 2. The Service Corps of Retired Executives (SCORE) is a volunteer management assistance program of the SBA that provides one-on-one counseling, workshops, and seminars. SCORE has chapters throughout the country. Many work in conjunction with local Chambers of Commerce. SCORE and Visa have also joined forces to help home-based and small business owners. Contact your SBA office, local Chamber of Commerce, or the following websites for more information: http://www.score.org http://www.visa.com/smallbiz

3 STEPS TO HOME BUSINESS SUCESS.

If you own a home business, there are 3 things you absolutely, positively must have, if you want to be successful: 1. You must have a guru or mentor If you aren't proficient in Internet marketing, website       design and copy writing--and most people aren't, do the smart thing and seek out an Internet marketing expert to help you. This can be a huge financial advantage for you, because 90 percent of those individuals coming online don't have a clue what their doing. And instead of doing the smart thing and seeking out an expert for help, they'll just struggle along trying this and that and losing money, until they're finally forced out of business. 2. You must have a back-up plan: Not having a back-up plan for your home business is like being stuck out in the desert with a flat tire and no spare. You just aren't going anywhere. Sometimes, try as hard as we might, our ideas just don't work and we have to scrap them. That's why you should always have a back-up plan. Give your home business every chance to succeed, but if you sense it's not going to happen, don't be afraid to pull the plug on it and move on to plan "B." 3. You must have relentless desire and determination: This is the number one reason why most people don't succeeed. They don't have relentless desire and determination. I want you to commit the following words to memory: "Any success you achieve will be in direct proportion to your desire and determination. The more desire and determination you have, the greater will be your success!" Here's another example to illustrate my point: Most people think it's Kobe Bryant's amazing talent that sets him apart from the other players in the NBA. And make no mistake, his talent does play a significant role in his success. But what really makes Kobe Bryant special is his "relentless desire and determination." He just wants to win more than everybody else. That's the mindset you have to have. You have to want to succeed with your home business more than anything else in the world--anything! And remember these words: "Any success you achieve will be in direct proportion to your desire and determination. The more desire and determination you have, the greater will be your success!"