Not everyone starting a business get’s VC money. Infact, very few do. For the rest of us, borrowing money from the bank or friends and family is how we start our businesses.
A new company on the block helps borrowers and lenders formalize that relationship:LoanBack
In some ways, it’s very similar to Circle Lending which is going after the same market. I suggest checking both of them out if you are looking to borrow any money from friends and family. At the end of the day, these borrower/lender relationships are always much better if they are well documented at the start.
Noah is currently the COO at Palo Alto Software, makers of the online business plan app LivePlan. You can follow Noah on Twitter.
