Not exact matches
According to the Wells Fargo / Gallup study, women business owners said their top three sources of initial funding for their business are
cash or savings (85 percent), personal credit cards (37 percent) and financial
gifts or support
from family or
friends (29 percent).
FHA loans are also desirable under current economic conditions as FHA underwriting requirements allow for non-traditional forms of credit, and permit buyers to pay closing costs and down payments with
cash gifts from family and
friends.
FHA guidelines also allow for
cash gifts from relatives or
friends, and alternative methods of verifying credit.
It's a mix of a loan I made to a
friend by check that he paid back in
cash, and a
cash gift from my parents (under the tax - free
gift limit).
FHA currently allows a minimum down payment of 3.5 %, and FHA guidelines permit
cash gifts from family and
friends as a source of your down payment.
Also, look for opportunities to boost your spending, such as offering to pay for group dinners and having your
friends pay you back in
cash, or purchasing
gift cards
from businesses you know you'll frequent in the future.
You could claim gems,
cash, upgrades or discounts
from premium items, which you can also
gift to a
friend.
You can receive
cash gifts from your relatives or
friends for which you don't have to pay any tax.