Home equity loan or small business loan?
My mortgage is half way paid off and I want to open?
a small business. the start up costs are low so I only need about $ 15,000. I was thinking about getting a home equity loan for the $ 15,000 to start up my medical billing business. Do u think I’m going in the wrong direction? There is no way I can save the money so I need some kind of loan to start it up. I feel like I may have issues getting a small business loan but am I better off taking the time to do it that way?? Which has lower interest rates; small biz loans or home equity loans??? Please help??
Additional details****I want to open a home based medical billing business.I would be willing to take chance because pretty confident I can pay it back.