Michele Broulliard of Berkley, Mich., really loves animals. So much so that for years, she has dreamed about opening a bed and breakfast that would double as a daycare and spa for dogs — a place where they could hang out with each other while their owners are unavailable. Where they could be with caretakers who would love and bond with them.
So how, she wondered, was she going to finance this ambitious endeavor? Brouillard considered the options: taking out a loan from a family member or friend, charging the start up costs on her credit card, tapping into her retirement funds, or taking out a home equity loan. She ultimately decided on the latter.
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