Some suggestions for maintaining family relationships and friendships when borrowing for a business are:
A)keep the arrangement strictly family.
B)borrow as much as you can.
C)an oral contract is as good as a written contract.
D)treat the money as "bridge financing."

Question

Quizplus · Accepted Answer

Treating the money as "bridge financing" means understanding that the loan is temporary and will be paid back as soon as possible. This can help prevent any strain on family relationships and friendships. Keeping the arrangement strictly family may also be helpful, but it's important to have a written contract in place regardless. Borrowing as much as you can and relying on an oral contract are both risky and not recommended.

Some Suggestions for Maintaining Family Relationships and Friendships When Borrowing