June 11, 2013
By Bob Coleman
Editor, Coleman Report
For most of Main Street says Inc. Magazine’s Jeremy Quittner.
While it is true banks have drastically cut back home equity lines – B of A is down 23% from last year – some small business owners will be able to tap into their home’s rising value to fund their ventures.
Quittner writes, “Home equity loans are traditionally a major source of capital for small businesses–making the last few years’ declining values a double-whammy for business owners tho are also homeowners. Those who managed to secure credit lines before the crash began have held onto them tightly.”