My husband is starting a business. His father decided he wanted to invest in the business and give us the start up money of $40,000. He would have a 20% equity share in the business. His father has told us he has gone to the bank several times and keeps telling us it will be 3 weeks. He also wants to give us $25,000 first then in a month, give us $15,000 etc. because of tax purposes. We can't figure out what he is doing because we have never heard of a loan taking this long or a loan where they don't give you the full amount up front.
We have met with him weekly and he has been very excited. We met last week to start work on the equity agreement as we are keeping this "all business." I am starting to worry. It seems like he is stalling. This is the second time he has delayed the opening and my husband told him with this delay, we will have to wait until February to start the business bc of regulations, etc. He is saying the weeks til the first payment but has not said a firm date. Would you be worried?
We have met with him weekly and he has been very excited. We met last week to start work on the equity agreement as we are keeping this "all business." I am starting to worry. It seems like he is stalling. This is the second time he has delayed the opening and my husband told him with this delay, we will have to wait until February to start the business bc of regulations, etc. He is saying the weeks til the first payment but has not said a firm date. Would you be worried?
via Small-Business-Forum.net http://www.small-business-forum.net/financing-your-small-business/10013-equity-investor.html
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