When borrowing money from family and friends to start a business, it is a good idea to keep the loan arrangements on a professional basis.

Question

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Keeping the loan arrangements on a professional basis can help avoid misunderstandings or conflicts in the future. It is important to have clear and documented agreements on the loan amount, repayment terms, interest rates, and any other relevant details. This can also protect the lender's investment and the borrower's credibility in the future.

When Borrowing Money from Family and Friends to Start a Business