Does my loan injection include interest?

I have a potential co founder joining, it will be a 50/50 arrangement.

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Hi,

I have a potential co founder joining, it will be a 50/50 arrangement. She will be injecting the funds that I previously have. I have previously taken out a personal loan to pay for web development and design. When we go to record this on the accounts will it include interest? So it's 7,000 but with interest 9,000 should this be exluded? My co founder has to match the funds I've injected so we just need to know what amount exactly for the loan.

Many thanks

Rachael

 

Replies (3)

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RLI
By lionofludesch
16th Feb 2018 11:05

We can't tell you.

It will be whatever you agree.

You need to firm up the terms of your agteement which seem to be too vague.

However, as you don't seem to have received any interest from the company so far, I would tend towards saying you shouldn't include interest.

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Scalloway Castle
By scalloway
16th Feb 2018 16:48

Is this a partnership or limited company?

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Replying to scalloway:
RLI
By lionofludesch
16th Feb 2018 16:55

I should've asked that.

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