Borrowing Money From Family
Getting cash from Aunt Pearl doesn't have to create a family feud.
Borrowing money from family members can be a great way to get startup capital quickly and easily-but you need to do it right. Remember, you're dealing with family, and, as such, there's the potential for misunderstandings and volatile emotions. Practice damage control by fully documenting interest rates, terms and other details for loans and equity investments...before you get yourselves tangled up in a lawsuit.