I’m looking to loan a good friend’s small business ~20k at low interest to print his art book. I’m well aware of the risk that I lose the whole amount, the book doesn’t sell, etc. Any tips on contract templates for setting up a loan like this? I’m in California, he is in Michigan. I don’t want it to be a personal loan, it should be to his company. I have an estate lawyer but not a contract lawyer, and am guessing for this amount it isn’t worth paying a lawyer to write a customized contract.
A loan is about the most garunteed way to lose friends and family. If you want to help someone you care about, give them money, or help them, but never loan them money.
That aside. Im very curious, how much does he get paid for his art already and why does he need $20,000?
Where is this money all going?