Dear professionals,
please help me with the following issue -
If a partner gives an unsecured loan to the partnership firm, will it be treated as an unsecured loan or capital contribution.?
thanks for your valuable suggestions.
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Unsecured loan in partnership firm
Replies (2)
Quick Summary
When loan is given without taking any guarantee from partner it is called as Unsecured loan. Loans from partners and additional capital is to be described in Partnership deed is governing documents for act of firm. Partnership firm operates business as per terms of partnership deed.
U can take unsecured loan in partnership form subject to cibil rating and others.
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