Work: Self-Employment - Getting Started

Options include :

Use your own funds

More than one person has become independent through self employment by maximizing debt on credit cards. If you use credit cards to start the business:

• Try to get credit life insurance on the card, and hopefully even credit disability coverage. The life insurance will pay off the debt in case you die. The disability coverage will postpone payment if you become disabled.
• Be careful not to overextend yourself.
• Think about what would happen if the business fails and you're stuck with the credit card debt.

Barter

Instead of cash, look to see if there are any assets you have that you can barter for what you need. The most obvious is to barter your services.

Ask Friends and family

Consider all family members, partners, friends and acquaintances as potential lenders -- or possibly as investors in your venture.

Money advisors suggest that you don't ask people to give you money who can't afford to lose all the money.

Small Business Administration Loan

To learn more, see: www.sba.gov

Banks.

Banks cannot ask about your health condition when considering whether to give you a loan. You are under no obligation to disclose your health condition.

Veterans

Assistance is available for veterans. It's described at http://app.vetbiz.gov .

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