There can be. Debt is generally 'cheaper' than equity and also allows for flexibility in the event of default. Further, tying up equity precludes other investments.
If you believe in your company, its its a burning passion, I highly recommend getting the personal loan. Create terms you can live with. Hold on to your equity as long as possible!
Yes, there are advantages and disadvantages to financing your business with a personal loan compared to equity financing. Full ownership - you retain 100% control of your business, avoiding dilution of ownership. No external influence, you are not accountable or accountable to investors.
