As a founder member of a registered co-op I've lent £10k as working capital. The business is unable to repay the debt. I am prepared to write off the loan. What are the steps needed to make this happen and what are the implications of doing this for both myself and the business? Another option I have been made aware of is to swap the debt into withdrawable shares in the co-op. I would be happy to do this. What are the steps needed to make this happen and what are the implications of doing this for both myself and the business?
7th Mar 2015
0
write off loan or loan to equity swap or both
write off loan or loan to equity swap or both