Business Loan Agreement

[matc]

I'm in the process of setting up a business and have an investor putting some capital in, on the basis of a loan as opposed to in return for a % share of the company. We've agreed the terms in principal, but obviously need a 'proper' agreement drawn up.

A quick google shows lots of loan templates available to download, but unsure how these would stand up to any scrutiny should anything happen.

Does anyone have any experience of going through this process in the past? I'm guessing I'll probably need a solicitor to write something, so an idea on what sort of money I would be paying to cover the cost of that would be great to understand if you've done it in the past.

Ta

[Tyre Smoke]

Bit of an outlandish idea, but why not ring a solicitor and ask them how much it's likely to cost?

You know, rather than a load of 'experts' on a motoring forum.

[anonymous-user]

When significant £ and significant shareholdings are involved, it is best to get this done by a suitably qualified and insured professional

Be sure that the shareholder agreement covers all aspects of the loan too

[2 5HAN]

Use a solicitor 100% also talk to an accountant as they may also be able to advise you and your new partner as to the most tax efficient way for you to repay capital and for your investor to receive potential interest etc