One option that many entrepreneurs consider for funding their businesses is turning to their friends and family for support. This can involve anything from flexible loans to outright gifts, or even granting equity in the company. In some cases, a friend or family member may even be willing to co-sign for a loan, acting as a sort of angel investor. It’s important to approach these relationships with transparency and care and to have a solid plan in place for how the funds will be used and repaid. With the right support and approach, your business dreams can become a reality.
NOT INTENDED TO SUBSTITUTE FOR OBTAINING ACCOUNTING, TAX, OR FINANCIAL ADVICE