business bank statement director loan

[nyla007]

Hi,
Can anyone please advise me if i need to provide director loan agreement for business transaction.

[Princess of Ammi]

yes,
Director Loan Agreement is to show the source of money to company, and in this category what it means is you can claim your money to your company as invested money.

if you do not provide the director loan agreement the money you lent to your company will not be considered as invested in this case the available balance should not be lower than 50,000.

[Olasunkanmi]

Hi,
Can anyone please advise me if i need to provide director loan agreement for business transaction.

Your question is not very clear, what exactly do you mean by director loan for business transaction?

[bisibisi]

Hi Olu,
That's a question I have been having difficulties answering, do you need to provide director loan agreement to show evidence of funds even though you have the money in your personal account. As it is yours and not from a third party.
Thanks for your reply

[Olasunkanmi]

Hi Olu,
That's a question I have been having difficulties answering, do you need to provide director loan agreement to show evidence of funds even though you have the money in your personal account. As it is yours and not from a third party.
Thanks for your reply

Director's loan agreement is usually for money transfer into or withdrawn from business by director and you don't need it if you are only claiming available funds for money in personal account or third party account.