Business Financing Even With A Bad Credit: Loans From Family or Friends
When you have poor credit and getting lending is hard, it isn’t a horrible idea to allow friends and family to invest in the company or lend you money.
Keep in mind that even though this is family or friends, it is still crucial to treat this as a business deal and have everything well laid out in writing.
While the little to no interest rates are awesome, the risk involved goes behind simply not paying back a lender, it could potentially cause a riff in personal relationships as well.
Attempt to be as transparent as possible with the potential lender, and always keep detailed records of any transactions between the two parties.