• @[email protected]
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      1210 months ago

      Caveat: depending on if you are getting a loan from a financial institution or taking private investment, they will either want collateral (if the business fails, we will sell your house to cover the debt) or will want a pretty big chunk of the equity (we’ll take the risk that the business fails as we loose all our money, but in return we want to own 50+% of the business, have the final say on decisions, and take a good chunk of the profit if you are successful)

      • @[email protected]
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        710 months ago

        Unless its a low enough number that the bank would accept an unsecured personal loan application. The twist there is that interest rates on those are usually very high.

    • ElleChaise
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      210 months ago

      If you don’t have money to protect the idea legally speaking, you’d just be giving your idea away to a richer person by doing this.