To avoid tax problems with a loan to a family member, be sure there’s a written loan agreement stating the amount of the loan, the interest rate, and the repayment terms. The interest rate ...

When you loan money to friends or family members in good faith, ensuring repayment can be difficult. Not only does it allow for financial strain, but it can also impact your relationships.

As mentioned above, there are tax implications to most business loans you take on, even if they’re via family. A verbal or otherwise informal agreement may seem easier than writing up a formal ...

Family loans can provide a cheaper leg up — but they also risk the relationship. Carefully weigh the pros and cons. Many, or all, of the products featured on this page are from our advertising ...

you need a written loan agreement setting out a schedule for paying the money back. You should specify the interest rate charged. In many cases, family members won’t charge market interest rates ...

A friendly loan is a financial agreement between associates. This type of financing is a friendly loan because the deal is usually made between friends, family, or acquaintances. These types of ...

If you have any questions about finance or if you'd like to suggest a future topic, email webstaff@wmur.com.A family loan may ... mind before you enter into an agreement. Here are our suggestions ...

This includes suggestions on the ideal interest rates for personal loans and the creation of a promissory note or letter of agreement to avoid misunderstandings between friends or family members.