loan agreement

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maddy1769
Member
@maddy1769
Join Date: 2006
Post Count: 7
February 26, 2006 - 5:26 am
Hi,
Had anyone gone through borrowing through private source under a company structure, for example, borrowing money through relatives and friends. Interest will be paid to the borrower out of company profit. I was on the assumption that a loan agreement between the company and the borrower need to be establish for the interest to be deductible. Had anyone had a sample of loan agreement that I can preview, thanks.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 26, 2006 - 11:39 am
Hi maddy
The Standard Private Loan Agreement would vary from State to State. In Qld we use the Clayton Utz Consumer Credit Code (Qld) Loan Contract as amended by the 1998 Act.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
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Richard Taylor | Australia's leading private lender
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
March 16, 2006 - 4:58 pm
You can see a sample loan agreement on
http://www.lawcentral.com.au
Terryw
Discover Home Loans
Parramatta
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Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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brahms
Participant
@brahms
Join Date: 2004
Post Count: 485
March 16, 2006 - 5:11 pm
also see lawshyster&chysterlaw.com.au
(not certain of spelling) jst jking
cheers
brahms
Purveyor of Fine Finances
aka Mortgage Broker Brisbane