

Loans from friends and family are called 3-F loans (friends, family, and fools) for a reason. Many business owners borrow from family or friends with every good intention of making repayment, but those obligations often get set aside for what is perceived as “real” business obligations. My advice is to treat these loans as real obligations too, because they are.
Borrowing from friends and family adds a level of complexity to business financing that doesn’t exist with other loans. If you take a cavalier approach, don’t be surprised if the next family gathering is uncomfortable.
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