I am going to loan my business money from a personal home equity line. What interest rate do I repay myself?

May 9, 2010 by
Filed under home equity rates

Just the 3.25 rate of the loan, or do I have to repay myself at a certain interest rate?

2 Responses to “I am going to loan my business money from a personal home equity line. What interest rate do I repay myself?”

Doctor Deth says:

May 9, 2010 at 6:59 am

unless your business is a corporation or partnership – you can’t lend yourself money – a sole proprietorship is not a separate entity from it’s owner, like a corporation would be. the loan would have to be made at a rate similar to what you would pay borrowing from a bank – and that would not be 3.25% – call a bank and see what rate they are charging for business loans
Doee says:

May 9, 2010 at 7:27 am

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Gary Rocks