| Do consulting on the side to self-fund. This is less risky than using credit cards. One partner works for a Big Old Dinosaur on contract for $20k per month and splits it 50/50 with the other partner, who builds the company which is shared 50/50 between the two. It gets a little more complex with more than two people.
This sounds like an awfully big share to give to someone for that much capital! Am I wrong?
Unless the financing founder is also working on the product in the expectation that both will be working on it full time once there is enough money to do so.
It shouldn't have to come to this. It's so cheap to start a software startup, at least in the initial prototype phase.
Most founders already currently have jobs as developers where saving enough to cover your expenses for a few months shouldn't be too hard.