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Finance & Accounting
Can you write your own loan agreement for a personal loan to your company?
If you personally loan your C Corporation money, can you write up your own loan agreement and, if so, where is the best place to get one?

Asked by CatherineQuel
Posted: Tuesday, June 24, 2008  |  Found in Finance & Accounting


More answers by Nina Kaufman
Answer by Nina Kaufman
As a business owner, you certainly can (and should) have a written loan agreement--whether the loan comes from you, personally, or anyone else.

The best place to get an agreement is from an attorney who specializes in this area. You not only have issues such as the loan term, when payments start and the interest rate, but you also have corporate minutes to prepare to ensure that you’re meeting the corporate formalities of the laws of your state.
Nina Kaufman has a New York City-based boutique law practice and is president of Wise Counsel Press LLC, which produces legal information products for entrepreneurs. She writes the Making It Legal blog and the Business Law Advisor column for WomenEntrepreneur.com.

Note: This response is for your general information only. Be sure to consult with an attorney regarding your particular situation to get the advice you need.



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