There are going to be times when people have a great idea to start a business, but still have some financial baggage in their personal monetary history. The question that hits: is it possible to start a new business while being privately in debt? The answer is – it depends. But, at the very least, having a goal for the personal debt is a must before you get too far into the details of your new business venture.
So to begin looking at your options overall, consider things like debt consolidation, taking out personal loans, talking to the SBA, getting angel investors on board, and using crowdfunding and crowdsourcing as a modern resource.…Continue reading