answered
Q: I am a Director of a growing small business and have a mutual agreement with my partner to buy him out at the end of this calendar year. It's a reasonably significant amount, so will need to borrow the money. What's the best way to go about this? Can I borrow the money through the business or do I do it personally? Both my personal and business financials are quite sound.
A: Thanks all, much appreciated.
Quick background - Business is strong, about 15 years old but I've only been a partner for 2 years. I have reasonable equity in my home but not enough to cover the amount required. I'll talk to my accountant and broker and see how we go from there.
Cheers.
question
Q: I am a Director of a growing small business and have a mutual agreement with my partner to buy him out at the end of this calendar year. It's a reasonably significant amount, so will need to borrow the money. What's the best way to go about this? Can I borrow the money through the business or do I do it personally? Both my personal and business financials are quite sound.
