Starting a Business

What should I do when my investors only finance one third of the agreed upon cash and say they are out of funds even though we have a signed agreement?

I entered into an agreement for a software project with two other guys who agreed in writing to finance the project for a certain amount. They have sent one third of the money and say they have no more now. What should I do? I have committed my company's resources to this project and was counting on that funding.
Guest Writer
Entrepreneur, Business Planner and Angel Investor
min read
Opinions expressed by Entrepreneur contributors are their own.
Talk to an attorney about this. This is serious, and requires legal advice from a professional. Expect to pay for a few hours of counsel. They'll have to look at the documentation and know a lot more in detail about your situation, promises made, obligations, legal recourse, etc.

Tim

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

It Started As a Joke and Turned Into a Startup That Raised $1 Million in Funding