1.) Will lending this money put a strain on the lender’s resources? If you think it might, you may want to reconsider asking, this will only put more strain on your relationship as you pay back the loan.

2.) Will you feel obligated to this person even after the loan is paid off. Some won’t, but if you’re the type to feel guilty or embarrassed for needing help, and the potential lender is the type to bring things up either intentionally or not, you may want to reconsider.

3.) Explore all other options before deciding on a loan from a friend. It does wonders for feelings of independence to be able to support yourself. You may consider asking someone to co-sign a loan for you instead of actually lending you the money yourself.

4.) If the person says no will you feel bitter? Will it affect your relationship, even if they turned you down because they don’t want it to affect your relationship? Complicated I know, but there can be so many hidden feelings when money comes into play among family and friends. It is important to consider all the nuances before forging ahead.

5.) Enter into an official contract. This will help to keep the business relationship separate. Agree on a repayment schedule, interest rate, penalties for late payments etc and get it in writing.

With this as a starting point you should be able to determine if getting a loan from a trusted person in your life is a viable option for you.