One popular option for entrepreneurs who don’t want to pursue venture capital or give away equity in the business is taking out a personal loan. Members of Forbes Finance Council share important considerations to remember before taking out a personal loan to fund your business. You should ask a professional if a personal loan is the right path for you. Funding a business with a personal loan is high-risk. And while a personal loan may be easier to qualify for than a business loan, you’ll be risking personal assets and will lose out on an opportunity to build business credit.

Source: Forbes December 17, 2020 13:07 UTC