Summary
When the corporate coffers dwindle or swell, small corporations often borrow or lend their filthy lucre. The IRS likes to see such loans documented, whether they involve financial institutions, shareholders, directors, friends or relatives. And financial institutions and other lenders often require written resolutions for these loans. Corporate Loans: Create Promissory Notes and Resolutions explains the tax consequences and legal considerations that will keep you out of trouble with the IRS. It also provides numerous resolutions and promissory notes for you to approve and document your loan transactions, including: Authorization of Institutional Loan at Specific Terms
Authorization of Maximum Institutional Loan on General Terms
Unlimited Authorization of Loans for Business Needs
Authorization of Line of Credit
Authorization of Line of Credit with Cap on Each Transaction
Authorization of Loan Terms Secured by Corporate Property
Approval of Loan to Corporation from Insider
Approval of Corporate Loan to Insider
12 promissory notes for loans to and from the corporation with various repayment termsWith this comprehensive eFormKit, you and your corporation will be able to sigh, "Ahhhh. A loan at last."
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