{"id":4434,"date":"2016-04-04T10:47:30","date_gmt":"2016-04-04T15:47:30","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/business-finances\/equity-investments-vs-loans.html"},"modified":"2024-06-06T04:05:24","modified_gmt":"2024-06-06T09:05:24","slug":"equity-investments-vs-loans","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/business-finances\/equity-investments-vs-loans.html","title":{"rendered":"Equity Investments vs Loans"},"content":{"rendered":"\n<div class=\"fl-sectionWithSidebar fl-container fl-flex fl-flex-wrap fl-gap30  wp-container-core-columns-is-layout-9d6595d7 fl-sectionWithSidebar fl-container fl-flex fl-flex-wrap fl-gap30\">\n    \n    <div class=\"fl-section-main fl-page-articles fl-section-main fl-section-main-full-width\">\n        <h1 class=\"fl-no-margin-top\">Equity Investments vs Loans<\/h1>\n<section class=\"fl-gutenberg-byline\">\n    <div class=\"fl-gutenberg-byline-content\">\n                    <p><i>Created by <a href=\"https:\/\/www.findlaw.com\/company\/our-team.html\">FindLaw&#8217;s team<\/a> of legal writers and editors<\/i><\/p>\n\n                | Last updated\n        <time>\n                            June 06, 2024\n                    <\/time>\n    <\/div>\n\n            <div class=\"fl-gutenberg-byline-editorial-note fl-text-sm\">\n            <p>Editorial Note: We earn a commission from affiliate partner links on FindLaw. Commissions do not affect the editorial integrity of our legal content.<\/p>\n\n        <\/div>\n    \n    <details class=\"fl-gutenberg-byline-toggle fl-gutenberg-byline-legally-reviewed\">\n        <summary>\n            <i class=\"fl-gutenberg-byline-icon\" aria-hidden=\"true\"><\/i>\n            Legally Reviewed\n        <\/summary>\n\n        <div class=\"fl-gutenberg-byline-toggle-content\">\n            <p><em>This article has been written and reviewed for legal accuracy, clarity, and style by <a href=\"https:\/\/www.findlaw.com\/company\/our-team.html\">FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with <a href=\"https:\/\/www.findlaw.com\/company\/company-history\/editorial-policy.html\">our editorial standards<\/a>.<\/em><\/p>\n\n        <\/div>\n    <\/details>\n\n    <details class=\"fl-gutenberg-byline-toggle fl-gutenberg-byline-fast-checked\">\n        <summary>\n            <i class=\"fl-gutenberg-byline-icon\" aria-hidden=\"true\"><\/i>\n            Fact-Checked\n        <\/summary>\n\n        <div class=\"fl-gutenberg-byline-toggle-content\">\n            <p><em>The last updated date refers to the last time this article was reviewed by FindLaw or one of our <a href=\"https:\/\/www.findlaw.com\/company\/our-team\/contributing-authors.html\">contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please <a href=\"https:\/\/lawyers.findlaw.com\/?fli=bylinelink\" target=\"_blank\" rel=\"noopener\">contact an attorney in your area<\/a>.<\/em><\/p>\n\n        <\/div>\n    <\/details>\n<\/section>\n<p>Knowing the differences between taking out a loan and bringing in an equity investor are essential to choosing which is right for you.<\/p>\r\n<p>Small businesses seeking capital basically have two options\u2014finding\u00a0<a href=\"https:\/\/www.findlaw.com\/smallbusiness\/starting-a-business\/tips-for-business-loans.html\">business loans<\/a>\u00a0or securing\u00a0<a href=\"https:\/\/www.findlaw.com\/smallbusiness\/starting-a-business\/financing-a-small-business-loans-vs-equity-investment.html\">equity investments<\/a>. Determining which is better for your business will depend upon the type of business you own, your credit worthiness, and your willingness to have someone looking over your proverbial shoulder.<\/p>\r\n<h2>Advantages of Business Loans<\/h2>\r\n<ul>\r\n<li>You maintain complete ownership of your business and remain the only voice in running it.<\/li>\r\n<li>The lender doesn&#8217;t get any portion of your profits or say in the business.<\/li>\r\n<li>Managing your finances for loan repayment is easier than accounting for profits with an equity investor. With a loan, you will have regular monthly payments for a fixed period.<\/li>\r\n<li>Interest payments can be deducted as a business expense.<\/li>\r\n<li>You can use the money from a business loan in any manner you see fit.<\/li>\r\n<li>If you need it, repaying a loan is a terrific motivator to working extremely hard for your business to succeed.<\/li>\r\n<\/ul>\r\n<h2>Disadvantages of Business Loans<\/h2>\r\n<ul>\r\n<li>You have to pay interest on the loan, so you&#8217;ll be paying back more than you&#8217;ve borrowed.<\/li>\r\n<li>If you have\u00a0<a href=\"https:\/\/www.findlaw.com\/consumer\/credit-banking-finance\/credit-score-information-how-to-manage-your-credit-score.html\">poor credit<\/a>, you may not be able to get a loan.<\/li>\r\n<li>You may have to provide collateral on personal property in order to secure the loan.<\/li>\r\n<li>Even if the loan is unsecured by personal property, if you default on the loan, you may still be sued personally by the lender.<\/li>\r\n<li>If the business fails, you still have to pay back the loan in full, plus interest.<\/li>\r\n<\/ul>\r\n<h2>Advantages of\u00a0Equity Investments<\/h2>\r\n<ul>\r\n<li>Investors may be better suited to provide large sums of capital. Banks are leery of lending very large sums because of the risk of default.<\/li>\r\n<li>Repayment terms are more flexible than that of business loans.<\/li>\r\n<li>Depending on the investor, you may have a built-in mentoring and business advising network to help your business.<\/li>\r\n<li>Because they have equity in the business, you have people who are interested in the business succeeding and will help you in this goal.<\/li>\r\n<li>If the business fails, you typically don&#8217;t have to pay back investors (in the absence of any fraud, of course).<\/li>\r\n<\/ul>\r\n<h2>Disadvantages of\u00a0Equity Investments<\/h2>\r\n<ul>\r\n<li>You may lose full control over the direction or day to day operations of your business. Investors may want to be part of the\u00a0<a href=\"https:\/\/www.findlaw.com\/smallbusiness\/incorporation-and-legal-structures\/corporate-structure-directors-to-shareholders.html\">board of directors<\/a>\u00a0and oversee operations.<\/li>\r\n<li>Venture capitalists typically invest in businesses that have the potential to offer huge returns on their investments (i.e., software companies, scientific inventions) and are generally uninterested in most small businesses that don&#8217;t forecast huge potential growth.<\/li>\r\n<li>You may have to share a larger portion of your profits with equity investors.<\/li>\r\n<li>Investors retain legal rights with respect to the management of the business and have the right to sue you if these rights are violated.<\/li>\r\n<\/ul>\r\n<h2>Venture Capitalists and Angel Investors<\/h2>\r\n<p>Many people hear the term venture capitalists and assume that these investors will be interested in becoming equity investors in their business. However,\u00a0<a href=\"https:\/\/www.findlaw.com\/smallbusiness\/starting-a-business\/venture-capital-faq.html\">venture capitalists<\/a>\u00a0are like any large investor and are seeking a large return on their investment. Therefore, venture capitalists are uninterested in most small businesses, which generally seek to turn enough of a profit to make a comfortable living for the owner and employees. Unless your business projects huge potential profits (for example, you have a restaurant that you think has potential to be franchised or you have an invention you&#8217;re working on and need capital for research and development), forget venture capitalists.<\/p>\r\n<p>What you may be seeking is an &quot;angel&quot; investor. Angel investors (the name comes from an old term describing investors in Broadway productions) also seek a return on their investment, but their goal in investing is sometimes more altruistic. Often, they&#8217;re wealthy entrepreneurs who want to share their knowledge and help businesses get off the ground.<\/p>\r\n<p>Information on angel investors isn&#8217;t as detailed as surveys of venture capitalists or traditional lenders, and it&#8217;s often difficult to tell the difference between a regular business investor and an angel investor (an angel investor could also be a family member or friend), but according to the Small Business Administration, they are out there, and they are investing in the success of many small businesses.<\/p>\r\n<h2>Choosing Between Business Loans and\u00a0Equity Investments<\/h2>\r\n<p>Ultimately you will have to determine how the advantages and disadvantages of a business loan and\u00a0equity investment\u00a0apply to you and your business. If your business plan projects potentially large growth, equity investors may be attractive for their lenient repayment terms, low risk (they won&#8217;t sue you unless you defraud them), and business acumen.<\/p>\r\n<p>On the other hand, if you project modest growth (i.e., you aren&#8217;t planning on running a large business enterprise) or want complete autonomy in making business decisions, a loan might be better for you.<\/p>\r\n<p>Whichever option you choose, be sure to carefully contemplate the pros and cons of a loan or\u00a0equity investment, and you will be able to make a well thought through decision.<\/p>\r\n<h2>Key Differences\u00a0in Equity Vs. Shares in Your Business<\/h2>\r\n<p>The term &quot;equity shares&quot; is different than equity. These are\u00a0types of shares\u00a0that can be sold to the public for long term financing. You need to consider many things to see if shares are right for your company. You may want to consider:<\/p>\r\n<ul>\r\n<li>The current\u00a0stock market\u00a0for your industry<\/li>\r\n<li>The state of the\u00a0stock exchange\u00a0when you make shares available<\/li>\r\n<li>The\u00a0number of shares\u00a0to make available<\/li>\r\n<li>Common stock\u00a0vs.\u00a0preferred stock<\/li>\r\n<li>Ownership interest\u00a0and\u00a0market value\u00a0of the shares<\/li>\r\n<li>What\u00a0stock options\u00a0are best for your business<\/li>\r\n<li>The\u00a0company&#8217;s\u00a0stock\u00a0price<\/li>\r\n<\/ul>\r\n<h2>Let an Attorney Help You With Your Business Financing Decisions<\/h2>\r\n<p>Not sure what the next step should be for your business? If you are considering an\u00a0equity investment\u00a0or a loan, you should learn all you can about the law and the obligations that come with these courses of action &#8212; as making the wrong decision for your business can hurt your chances for success. You can learn more about your situation by meeting with a\u00a0<a href=\"https:\/\/lawyers.findlaw.com\/business-commercial-law\/?fli=dcta\" target=\"_blank\" rel=\"noopener\">small business attorney<\/a>\u00a0in your area today.<\/p>\r\n<div class=\"was-this-helpful\">\n    <div\n            class=\"was-this-helpful__question-container\"\n            aria-labelledby=\"was-this-helpful__question\"\n            role=\"group\"\n    >\n        <span\n                id=\"was-this-helpful__question\"\n                class=\"was-this-helpful__question fl-text-lg-bold\"\n        >Was this helpful?<\/span>\n        <button\n                class=\"was-this-helpful__button fl-text-sm\"\n                aria-label=\"Yes\"\n                value=\"yes\"\n        >\n            <span class=\"was-this-helpful__button-text fl-text-bold\">Yes<\/span>\n            <i class=\"was-this-helpful__button-icon\">\n                <svg width=\"22\" height=\"22\" viewBox=\"0 0 22 22\" fill=\"none\" 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