Entrepreneur

The Right Way to Ask Your Parents to Finance Your Business

4 things to consider before asking mom and dad for money.
Source: Shutterstock

Alex Genadinik, 33, borrowed $20,000 from his mom last year to launch Problemio, a startup that makes mobile apps for small businesses. Carlo Cisco, 26, has taken $150,000 in convertible-note investments from his relatives since 2012 to expand Select, his New York City dining, travel and entertainment discount club. And over the past five years, Andrew Angus, 34, has borrowed from his mom $500,000

You're reading a preview, sign up to read more.

More from Entrepreneur

Entrepreneur8 min read
The Best Ideas Are the Ones That Make the Least Sense
Think business is all about rational thought and logic? Think again -- and to find the biggest, best ideas, start thinking way outside the box.
Entrepreneur3 min read
Small Team? No Problem. Here's How to Multitask With Efficiency.
Asking staff to take on multiple responsibilities doesn't have to mean chaos. Here's how to keep the office calm, happy, and productive.
Entrepreneur3 min read
Why Former NBA Star Al Harrington is Betting On Cannabis
The athlete is working to get sports leagues to embrace cannabis and CBD as a valuable resource for healing.