I 52m Bought a company with a friend in june My credit was bad at the time and i couldn’t get any financing. We both got financing through a local bank in the amount of 165k with his house on the line. The company is doing fine and we are starting to turn a profit. My friend has a gambling problem and has taken cash from the company with out letting me and keeps telling me he’s a worker. I need to buy him out and need about a 200k loan. 165k for the loan 20k in cc debt The rest will be kept in the account as a reserve for any miscellaneous expenses. I don’t think i would really have to buy him out as the company isn’t really worth anything. ight now I have a 620 credit score fico experian. I have 1 auto loan that i am on with my gf 43k. I am an authorized user on my gfs credit card which has a balance of 12k(plan to pay down soon) 2 of my own cap1 cards with about 1,300 owed can be paid off easily. Can anyone help recommend business financing??

  • CurveAdministrative3@alien.topB
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    1 year ago

    How do you record “took money from company for gambling” in your accounting software when you reconcile the bank statement at the end of the month?