Paul Holzschuher ⋅ Lebanon , OH Ohmart/Vega ⋅ 40 years experience

Most banks will provide an equity line of credit.
The equity could be on your home, land, business or other.
Talk with your bank's loan officer.
I started my residential rental business using a equity line of credit for the down payment.
Then as the equity in the building increased, I used this equity to purchase more rental buildings.
Good Luck,
Paul

Eric Huppert ⋅ Pensacola , FL Unavex Inc ⋅ 11 years experience

Hey Terence,
My advice would be to avoid going into debt to start a business, especially a small business with partners, if at all possible. Can you and the partners arrive at a process to each contribute something of your own, the same amount, to get started? Something you could all afford to throw in?

In addition to giving some very hard thought and effort to the process that Ken Larson describes above, look for a way to start your shop in the most cost effective way: Is there some space you know of to start it in that you can use your own elbow grease to make presentable, vs. paying rent for a high end place? Do you have family members who are great at graphics, web design, etc to get the word out? (There are several sites on the net for free web pages...) Do you need to invest in tools required or do you have what you need if you start small?

I worked somewhere else for a while before I could work full time for myself. This gave me two things: first, an income that allowed me to build the second business without depending on it for Cheerios for my family, and second, the ability to create it fairly stress-free, again without having to rely on it for sole income. Owning your own business will consume you--there is no time off for quite a while until it's profitable and you have a great #2 who can run it for you when you want to go fishing or see the grandkids.

ID your market, distinguish yourself from the competition--what do you provide that others don't? Why are you better than anyone else out there for the services you want to provide? Find a place to work from, start small, get the word out--then go for it!
Eric

James Mingey ⋅ Oregon City , OR Veterans Business Services ⋅ 25 years experience

Take advantage of http://www.boots2businessreboot.org/

EBV at Syracuse University has affiliates for capital under $50k unsecured. Your also eligible for SBA 7a loans

Tom Cal, CFA ⋅ San Francisco , CA Army Veteran, Investment Manager ⋅ 25 years experience

SCORE.org

Do you or your partners have experience working in the industry?

Brad Wilder ⋅ Lexington , KY Intech Contracting ⋅ 8 years experience

Here are a couple of links to search for loans if you haven't already seen them:
http://www.sba.gov/loanprograms
http://www.sba.gov/loans-and-grants