---Elizabeth Potts Weinstein, CFP(r), JD
Website - http://www.TheWealthSpa.com
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Giving up equity is the last thing you should consider. $15K in seed money is easy to get through the SBA (for one of my companies I got $250K from them) - but it requires a PG (personal guarantee).
Also look into government funded grants - you would be amazed at all the variables that qualify for seed funding through grants.
Author of The Toilet Paper Entrepreneur
Just a few general comments:
From a total cost of capital perspective, debt funding is considerably less expensive -if one can get enough of it.
Generally, lenders don`t see themselves as "investors" from the risk taking view.
PS: Be aware that most States have usury laws which limit the amount of interest you can pay.