Determine what you think is fair for what he does and what he brings to the table. (ie. $21-23/hr maybe)

Tell him you’ve reviewed his request and based on the current output as well as how the business is doing in general this is the best you could reasonably offer. But give him feedback on what he might be able to improve on, or skills he might try to gain if he would like to work up to the requested amount.

Depends on the business and how you plan to raise capital.

If you’re going to rely on loans it might not be the best time to start.

Tl;Dr but do what you want to do. If you hate something then do something else.