A loan company offers money to customers and they return the money with interest. To start a loan company you first decide on the leading limits and then make a business plan which contains start-up and operating budget, market analysis, profit and loss projections and a systematic marketing approach to attract and keep a regular book of business. Complete all the paper work needed and get a licence. Next get a location and obtain the money to lead. They are different ways of getting the money. Set your profitability goals and interest rates and ensure that you follow all the laws while running the business.
When it comes to the personal loan from the company, if you borrow money from a company with no interest then it is deemed to have received the receipt in kind. legislator considers that if the company gives the interest of less than 4% (0% is less than 4%) that you help us to achieve receipt that would not otherwise have received, and asks that this case of the 4% pay taxes, local taxes, and contributions as you get a net salary in the amount of interest of 4%.
Of course it is then easier to calculate the interest rate of 4% pay is granted. Remember when a company borrows money you put into the contract interest rate of 4%. There is another combination when we are talking about personal loan. The company can borrow money to another company without interest. There is no prescribed minimum interest.
