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Sunday, March 1, 2009

Personal Loan Low Interest Rate Helps you Make Money from Home

By Richard Rothstein

There are quite a few circumstances that would cause a person to seek out a personal loan with low interest rates. First of all, you might be trying to start a new small business out of your home, which does require some startup capital, although not as much as a traditional brick and mortar business. Let's look of what some of your expenses could be and whether a low rate personal loan would take care of them.

Your first expense when it comes to setting up a home based business will be a computer. Now it's more likely than not that you already own a computer, but you might need to upgrade for your home business. After all, you're going to be spending hours and hours on this machine and you'll want it to have decent processor speed as well as a high quality keyboard so you don't risk any injury to your hands or wrists; this whole set up could run you between $500 and $1,000.

She's also going to need really fast internet if her home business is going to run properly. A dial-up connection will leave her frustrated and unproductive, so she might need to spend as much as $65 per month to get the right internet connection, bringing the total loan required to start the business to as much as $1,000.

The last two items that will really be essential for your new home-based business will be a good desk and a good office chair. I think a high quality office chair is the most undervalued piece of furniture in a person's office, but it's the most important. When you think about the number of hours you're going to spend in that chair (anywhere from 20 to 60 per week) it really starts to make sense to buy a chair that costs $700 or more.

And there you have just a few of the business expenses you'll need to consider when getting a new business started from home. If the money isn't ready and waiting in your savings account you'll need to go to a bank and ask to borrow the money, and you'll want to get as low an interest rate as possible. But how can you guarantee they'll give you a low rate loan?

If they're going to give you a low-rate loan, it's really going to come down do two factors - your credit score and your borrowing history. If you've borrowed safely and wisely over the years you'll find it very easy to get a low rate loan and your business will be on its way.

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