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)
Please login or register to join the discussion.
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.