If funding is needed and your business does not qualify for a loan, how do you obtain that money?
When starting a new business with friends, one of the things that you need to think about is who's going to invest money in the business, how much time are they going to be available to invest in the business, and basically how much do you trust these people. Because when you get into the business with them, it's not unlike a marriage. A situation can arise where you might find yourself at odds. The best way to handle that is having an agreement among yourselves.