Entrepreneur's Journal: Getting a Loan from Friends and Family

Filed under: Small Business

Even when credit is flowing, it's still tough for small business owners to get a loan. As a result, they often will look for financing from friends and family (known as a private loans). Some of the world's greatest businesses got their start from this approach. For example, Walmart's (WMT) Sam Walton got a $20,000 loan from his father-in-law.

Of course, there are many risks when putting together a loan from friends and family. After all, if the principal and interest cannot be paid back, there could be family discord or a lost friend.

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Entrepreneur's Journal: Getting a Loan from Friends and Family originally appeared on BloggingStocks on Sun, 16 May 2010 17:40:00 EST. Please see our terms for use of feeds.

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