Promissory Note.
Customize a Promissory Note: principal, interest, repayment schedule, default terms.
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Both want clear terms.
Member loan.
Documentation required.
Pending fundraise.
What to avoid.
Verbal loans hard to enforce.
IRS may impute interest for related-party loans.
Indefinite obligations may not be enforceable.
Define events of default.
Common questions.
What is AFR?
Notarize?
Promissory vs convertible note?
Tax treatment?
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