Submitted by Locutus747 t3_126oslu in personalfinance
tharesabeveragehere t1_jea2zjm wrote
Why would you not ask for a partnership agreement instead of a loan? This is where the term 'silent partner' was born.
If the business does well, you're the last one to get paid, in a "friend's money" loan arrangement. Similarly, if the business doesn't do well, you're the last one to get paid in this arrangement.
Banks provide loans.
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