193, Personal Loan to my business|
Posted by spidadesign, Sun Mar-04-07 09:09 AM
I run a web development company. I am bringing in a partner who is buying a percentage of the company. The money my partner is buying into is mine but I want to take it and invest it back into the company so we dont need to take out a loan.
Since I am loaning the company the money, how do I get repaid? I own 70% and he owns 30%. All the money after expenses is split and goes into our pocket. We dont take a percentage out and put it on the side. If I am loaning the business 20K how do I get the money back if all money is split.