Home equity mortgage required
First of all, taking out a home equity loan and using that money for business development is a bit risky. You won't know your business will flourish or not, so you do you want to put the home as a collateral? Remember, if you can't pay off the loan, you'll lose your home.
Have you tried any private financing option?
Are you thinking about taking out a home equity loan to do a business with your friend? Before doing so, be sure because you're going to risk your house because of a joint business venture.