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sponge_bucket t1_jea4m90 wrote

As others have said this is a great way to turn good friends into strangers who ignore you really fast. It sounds like you’re going to go through with it but if you can back out I would. If they have access to 60k but not the remaining 15k the question for me would be “why would the bank give them nearly enough but not the full amount?”

I hope this works out for you. Best of luck!

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Locutus747 OP t1_jeacueq wrote

Thanks. I think we may not do it. As someone else aluded to I’m not a bank. And if someone can’t afford something should that be my responsibility? It would be one thing if friends were asking for help with rent or necessities or something but if you can’t afford to buy a business without asking friends for money then maybe you shouldn’t buy a business

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sponge_bucket t1_jeadajx wrote

Exactly. Usually “friends” bring up the idea “venting” hoping that you would offer to help. How they respond to you backing out will tell you everything. I’d have a good story that they can’t argue with that’s short like “we were going over the finances and things are a lot tighter than we thought. I thought we could stretch to help you but we cannot. I’m sorry”. If they in any way try to convince you otherwise that’s a huge red flag to me.

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