I don't think there are any "typical" terms for startup funding from family and friends.

I have two modes of thought about this and follow one.

The first is this: just about every successful non-VC-funded business made it through the first awful year of scrambling and serious errors by the grace of six figures of funding cobbled together from anyone who would throw a couple bucks their way.

If we take this to be true, then the absolute psychopathic thing to do is pull ever dime you can from friends and relatives.

Personally, though I believe in my business and have gone to the bone many times for it, I can't stomach that.

The thought of people I know and love losing money they are depending on makes me want to throw up.

Money issues, as most of us know, can poison and ruin relationships.

So my second mode of thought about startup funding is this: Don't ask for or accept funding from friends and family unless you are both fully aware and have stated out loud (and maybe even have it written down) that it's OK if you lose every last cent of it.

So here's my real answer to your question:

If they're comfortable never seeing that money again, and are treating it essentially as a gift to you, with no potential hard feelings or expectations attached, THEN it might be all right to accept money from friends and family.

Probably a good principle for accepting money from anyone, really. But your friends and family...you have to LIVE with these folks. Best not to mix business and money with the ones you love.

That's my point of view, anyway.