Private lending Question
Hello BP,
My business partner and I are funding a short-term private lending deal.
I’m using a personal line of credit to fund the transaction. I transferred from this line of credit account to our business account and then wired from our business account to the closing attorney’s escrow account. All of this seems in order.
The question we have - can we bill the interest back to our LLC?
This personal line of credit is at a cost of 5.2% that I currently have to pay on my own.
Is there a way that I can charge this back to our LLC legally?
Thank you in advance!
Robert W.