How do I tap into my homes equity to bootstrap business? -

For the past 3 months, I ve been working for myself as a sole member of startup software company. I m still developing the product and am 2 to 4 months away from making any substantial income. I m also doing some software consulting work on the side, but it s not enough to live on.What is the best way to tap into my home s equity to fund my business? There s plenty of equity in my home, but my current income is pretty low. I m concerned that my current lack of income might pose a challenge with getting a traditional home equity loan. If I can t get this loan, what other options are at my disposal?

You used the correct term. You want a loan that is based on your equity rather then your ability to qualify. Those loans have tightened up but they still exist. Wherever you have your checking account is the place to start. They don t want to lose your business so they will give you a loan. If you don t pay the loan, they take your house. Otherwise you ask for the name of a Hard-Money lender. They charge 18% but they will give you the money you need. Every banker knows one.