That’s interesting about using the home equity to get the businesses going. I’m in manufacturing, and had a client that did that last year. He has not re-ordered. I need to follow up with him….
I know that many very small businesses (like pizza places) can go out of biz if they get hit with a huge energy bill. (Saw it happen when Enron was creating “the energy crisis” in Ca a few years ago.) An extra $1000 on a bill can easily shut down a small biz.
Does anyone else know of examples of people who refinanced homes to start businesses? I have read of a few stories of people starting up like this in the past, so this seems like a pretty common thing to do.