Legal Question in Business Law in Texas
Can I give a loan through my company or personal?
Are there laws that prohibit me from giving a personal loan($5,000) to a client of ours? The client will pay me back auto debit from her checking with interest.
Thank you
Asked on 10/30/06, 12:32 pm
1 Answer from Attorneys
James Grissom
Law Office of James P. Grissom
Re: Can I give a loan through my company or personal?
There are no laws against such a transaction, but be sure you have the loan documented by promissory note with a legal interest rate and date for repayment.
Answered on 10/30/06, 1:05 pm
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