One of my close friends is asking me to lend him money as a loan for his business need. 30K for two years. He is offering 8% interest per year. He is a dear friend and I do not want any interest. If I needed the money, I am certain, he would do the same for me.
Although he might do it, but we have had no discussion of a loan agreement document. Honestly I am having a difficult time bringing up the topic of preparing a document that says I am giving him a 30K loan that needs to be repaid in x amount of time.
While I have the money, I do not want this loan to ruin the relationship that we have built over the last two decades. Not that I am saying this would happen, losing 30K would certainly dent our relationship if not outright ruin it. If you have dealt with a situation like this, I would appreciate any advice.
Although he might do it, but we have had no discussion of a loan agreement document. Honestly I am having a difficult time bringing up the topic of preparing a document that says I am giving him a 30K loan that needs to be repaid in x amount of time.
While I have the money, I do not want this loan to ruin the relationship that we have built over the last two decades. Not that I am saying this would happen, losing 30K would certainly dent our relationship if not outright ruin it. If you have dealt with a situation like this, I would appreciate any advice.
Statistics: Posted by noriskfinance — Mon Aug 26, 2024 7:17 am — Replies 37 — Views 1262