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Description
Experience Level: Entry
Hello,
I am hoping you can review this basic document for me.
I am part owner of an LLC. The LLC is not profitable yet. Instead of guaranteed payments, I am receiving "loan to owner", which I am told will be repaid from my portion of future dividends, when the company is profitable.
My question is: if the company is never profitable, will I be held personally liable to repay this loan? Or would the loan dissolve with the company? Attached is the "Promissory Note".
If you can help, should I purchase a gig, or will you send me a custom order?
Much appreciated,
Eakins
I am hoping you can review this basic document for me.
I am part owner of an LLC. The LLC is not profitable yet. Instead of guaranteed payments, I am receiving "loan to owner", which I am told will be repaid from my portion of future dividends, when the company is profitable.
My question is: if the company is never profitable, will I be held personally liable to repay this loan? Or would the loan dissolve with the company? Attached is the "Promissory Note".
If you can help, should I purchase a gig, or will you send me a custom order?
Much appreciated,
Eakins
Eakins F.
100% (1)Projects Completed
1
Freelancers worked with
1
Projects awarded
100%
Last project
16 Nov 2020
United States
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The promissory note isn't attached to the job description. Can you share it again?
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