What should you consider when offering a loan to a family member?

The Covid-19 pandemic has created a lot of uncertainty in the economy and is leading to disruption in businesses and financial markets throughout the world. In these challenging times, when people are experiencing unprecedented financial distress, it is not unusual to seek financial assistance from family, to address the emergency. It is important to make an informed decision and to consider matters carefully when offering a private loan. From the borrower’s perspective, taking a private loan from family usually offers a better rate and lower cost option than borrowing from…

Covid-19: Funding support flowchart

Website content note: This is not legal advice; it is intended to provide information of general interest about current legal and funding issues. If you would like any more information in relation to the flowchart then please feel free to contact either Tony Chauhan ( profile ) on 07341-569117 or email at: tony.chauhan@bowlinglaw.co.uk or contact Mohammed Akram ( profile) on 07908-170337 or email: mohammed.akram@bowlinglaw.co.uk

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