I've taken a pay cut to move (back) into a career with limitless growth, as opposed to the basically maxed out line of work I was in. My timing was awful, was working on the transition when covid blew up, and everything I was applying to dried up and I had already been replaced in my current role and was training my replacement. They eventually let me go when there wasn't anything else for me to do and I couldn't land any of the (very few) openings there were.

Anyways, stayed the course on my goals after that though, and while it took 2+ years to replace that income, as of this year, I'm actually significantly over that amount.

The setback was real, but I'm here now, and have - like I said - unlimited opportunity to grow, especially getting my own business going, but even as a traditional employee I could climb the ladder.

As much as it sucked for those couple years, I have zero regrets. Work/life balance (as long as I'm disciplined) is manageable, money is finally improving, and I have a lot to work hard for, whereas before there was no where left to go.

I would consider a paycut if there were things such as growth; remote work; work/life balance; commute savings; general enjoyment of the work (hard to say until you're on the inside though); working in a field/role that aligns with my natural strengths rather than where I have to rely heavily on my natural weaknesses.

Very rarely do situations like this work out. I'd be very nervous on why the bank would fund most of it, but not all of it - clearly there is a risk there that they are seeing. Also, $15K is a hunk of money to donate on a really big maybe. Starting a business is rough, there are ups and downs, and as the "friends" you will be the last to be paid back, and that's IF you ever are.

You're not saying what the business is though, either. If it's an established business (say, a restaurant as an example) that has been doing well enough, and they are simply taking it over (and have the experience to do so), then I might be more open to the idea. Starting something from scratch, however, I would probably pass on investing in, at least until they can show how the bank's loan is getting paid back and money is coming in...