Borrowing money from friends or family to start a business can lead to disaster, but there are ways to borrow to do it while maintaining family peace. For many, this type of funding is the sole option. “Let me just start by saying—and we do a fair amount of this type of work, helping young companies get funded—that I would never discourage anyone from getting money from family members for their business,” said David R. Rudd, a partner in Ballard Spahr’s Salt Lake City office. “It’s how some of the most successful companies get started.”

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