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So I've asked for 5x loan. After several phone calls this afternoon we've agreed to 2.5x with payments to start next week for 9 months ($13.8K per month). Than

So I've asked for 5x loan. After several phone calls this afternoon we've agreed to 2.5x with payments to start next week for 9 months ($13.8K per month). Thanks to everyone who took the time to give feedback.

thesmileyone 13y ago
You are very lucky. From the terms you laid out in your OP you are only owed $50k, seperate to your equity in the company. If I lend someone £5 I cannot then expect someone to pay back £25. I expect £5. If you are going to continue to invest in the future I really recommend you have signed documents with a contract, because not all business owners are as friendly as the guys you lent money to in the OP!