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Situation: I am looking to pick up an angel investor for an upcoming business deal in New York. One of the investors I have been speaking to is from New Hampshire and another is from Texas. This situation is pretty straightforward, they put up a portion of the capital, the transaction is completed, and they receive their money and a return percentage. If , however, the transaction does not go through they get their capital returned as given. At either point their involvement is finished, no monthly payments, no long-term relationship.
Question: Does this type of situation fall under usury limits? What are those limits? Which state would be more cost effective for me to get the capital from?
Situation: I am looking to pick up an angel investor for an upcoming business deal in New York. One of the investors I have been speaking to is from New Hampshire and another is from Texas. This situation is pretty straightforward, they put up a portion of the capital, the transaction is completed, and they receive their money and a return percentage. If , however, the transaction does not go through they get their capital returned as given. At either point their involvement is finished, no monthly payments, no long-term relationship.
Question: Does this type of situation fall under usury limits? What are those limits? Which state would be more cost effective for me to get the capital from?
