Welcome to EUM!
EUM Home Loans: Information for financing based on home equity.
Why get a home loan?
Home loans are perfect for potential people who are less interested in mortgages or who don't qualify for mortgages for various reasons. A home loan is also great for renovations or for other purposes not directly related to yur actual home.
Home Based Small Business financing
Getting a business bank loan or an SBA Loan requires a lot of work in terms of applications and business planning. Bank requirements are very strict and usually demand tax information and detailed accounting. For this reason many business owners, particularly merchants utilize cash advances as an alternative to small business loans. However, even the relaxed requirements of a business cash advance make home businesses ineligible. Many entrepreneurs are finding home loans to be the perfect solution for fast working business capital.
Can you use your home loan for business equipment
Yes, home loans can be used for any purpose. Typically people use their home loans for purposes connected to their house: renovations, repairs, taxes, furniture, etc. However, home loans can also be used to buy additional properties, business equipment financing (like a business equipment loan), purchasing vehicles and other items, and more.
What if the value of my home is not enough for the loan / financing I need?
In many cases, the equity in one's home is not enough. Financing can be supplemented by traditional loan products and direct lenders, or though other financing alternatives.
More financing and loan options:
- Life Insurance Settlements: Seniors can sell their life insurance policies for immediate cash can do so through a senior life settlements (not to be confused with a viatical settlement).
- Peer to Peer Lending: Click here read more about this financing option.
- Government Grants: not so easy to obtain - but there are many different grants and government funding programs out there. Knowing what's available and how to apply can help you to access these programs.