Line of credit for start-up business

It's good that you're aware of needing capital to start your business. But just knowing you need capital is not enough; you must be prepared to have enough capital to last you through the the tough period most businesses experience in the early months -- maybe years.

As far as a bank credit line for a start-up, the cold-hard truth is that won't happen unless you have significant personal assets to use as collateral. If you have assets that you can pledge to a bank for a loan, you might be able to get a few thousand dollars with that security.

Many successful entrepreneurs have launched their businesses on credit cards. But many more have taken bankruptcy after their business failed and they couldn't pay off the debt.

Remember, it takes a lot longer to pay money back than it does to spend it.