Business Work At Home – Home Office
Business Work At Home
Question by jlcha541: is financing a business the same as financing a single family home?
i mean the requirements , if i’m approved for a certain amount on a home loan, would it be the same amount if i decided to by a business?
Answer by Henry
No. It is very hard to get a loan to finance a business, because running a business is very risky. If you do not make money in your business, your business would worth nothing. And you could end up losing everything. A house is different. It is very secured. Even if you lose your job, the loan is still secured with the property. The lender has nothing to lose. So, it is always easier to finance a home than to finance a business.
What do you think? Answer below!
The modern concept of small office/home office, or SoHo, refers to the category of business, which involves from 1 to 10 workers. SOHO can also stand for small or home office or single office/home office. A larger business enterprise, one notch up the size scale, is often categorized as a small business. When a company reaches 100 or more employees, it is often referred to as a Small and Medium-sized Enterprise (SME). (Source Wikipedia)
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