Borrowing Startup Capital from Friends and Family

Entrepreneurs, in Charlotte and everywhere else, may feel they have no choice but to borrow money from friends, family, or both.

This article from the Charlotte observer does a nice job of highlighting some of the issues an entrepreneur should contemplate before considering family or friends as an option for business funding: 5 things to know before you ask

The big takeaways are to avoid borrowing from friends and family if at all possible but to memorialize any agreement in sufficient detail. With the increasing availability of alternative funding sources, entrepreneurs have more options than ever before when startup or growth capital is needed for a business.