Get A Small Business Loan

I need a small business loan - about 5K

What is the best you think - ask a friend who has money or simply use my own 401K?

If I am a friend supposed to answer lots of questions, take care of the promissory note and forever b
grateful and obliged to do favors.
In case of money losing 401 K, but much easier. Once I have business running I'll do for the loss easier.

I recommend you use a credit line mortgage or home loan, if you have one. You can request a business loan backed by the Small Business Administration (SBA) through a bank like Chase, Huntington and Fifth Third.

If you have a credit card with a low interest rate as 9.99%, you can make purchases on your credit card. If your card has a higher interest rate, call the credit card company and ask them if they can reduce your rate to 9.99%. You can also look to get a new credit card with a low rate.

Next best would probably borrow from your 401k or IRA.

The last resort should be borrowing from others for such a small amount (compared to some business investments). You do not want to hurt your relationships with friends and family, and you do not want someone else have a vested interest in your business if you can help.

I am a pastor

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Good luck!