I have close to 50k in the business account which is not earning a great deal of interest. One of my friend is going to a bank for a personal loan.
From the business perspective, it makes sense for me to lend the money in the business to my friend at a little lower interest than what bank offers. It is a win win for both my friend, me and my business.
Can someone comment on the legality of doing such a thing?
From the business perspective, it makes sense for me to lend the money in the business to my friend at a little lower interest than what bank offers. It is a win win for both my friend, me and my business.
Can someone comment on the legality of doing such a thing?
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