Just because you’re borrowing money from friends or family, doesn’t mean you’re getting free money. That’s why it may not be a good idea to approach your cousin’s brother-in-law once removed to supply the funds for your growing business.
When approaching friends and family for funding, be smart. Work with an individual you trust and it’s always a good idea to get your agreement down in writing.
Learn more about borrowing from friends and family to finance your business in our Guide to Friends and Family Financing.