Are there unsecured personal loans to start a business?
Yeah, they’re called credit cards. Lines of credit aren’t any cheaper. If you are the only or the main breadwinner in your family, take this little bit of advice… if you don’t have AT LEAST 18 months with of living expenses saved up to live on, don’t bother with starting a small business. Something like 1/3 of startups fail the first year, very often because the owner could no longer afford to not make any money. I’m an SBO, and I didn’t pay myself the first 8 months. My uncle is an SBO, and it took him until year 3 before he finally had some breathing room.
