Locutus747 OP t1_jeacueq wrote on March 30, 2023 at 3:59 PM

Reply to comment by sponge_bucket in Loan to friend Question by Locutus747

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

sponge_bucket t1_jeadajx wrote on March 30, 2023 at 4:02 PM

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.