Get It in Writing

If your family decides to invest in your business, you'll need a contract.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

When borrowing from friends or family, don't forget to put it in writing. Make sure it's clear exactly how much money you need, what you'll use it for and how you'll pay it back. And draw up a legal agreement stating that the person will indeed put money into the business.

Excerpted from Grow Your Business

More from Entrepreneur

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

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply 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

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.