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Work: Starting Your Own Business

Should You Disclose Your Health Condition To Investors/Lenders?

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You are under no obligation to tell anyone about your health condition unless it could be harmful to them.

However, consider disclosing your condition to people or companies you approach to support your new venture.

Investors and Lenders

Consider whether your health condition is material to the potential success of the new business. If it is, it has to be disclosed. It could possibly even be a crime if you don’t.

Whether you health condition material has to be decided on a case-by-case basis.

Consult an attorney about your particular situation if there is the least question.

If it helps, banks cannot consider your health condition when considering whether to lend you money.

Friends and Family

Even if your health condition is not material to the potential success of the new business, consider disclosing it to friends and family that you ask for money. How would you feel if a friend or family member not only didn’t tell you about the diagnosis, but also asked you for money for a new business?

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