The Basics of Borrowing From Family
So you are ready to launch your new business, but need about $20,000 to get if off the ground. So you turn to family and friends to help you out. Smart choice? Maybe….Venture Capitalists make loans based on team members of the deal, but that is because those entrepreneurs are proven business builders. People who go to family members for loans and investments are usually unproven as entrepreneurs. And yet, many family members talk about “trusting” John or Jane and “believing in them”. Invest in the business only if it is a deal that can stand on its own merits. If you want to keep Thanksgiving pleasant, keep business as business and family as family.
Startup Journal has more on borrowing money from your family.
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