Gift loans of under $10k are exempt if the money isn't directly used to buy income-producing assets. Does using it toward a business loan count as income producing asset?

I’m borrowing money from family for a down payment on a small business loan and want to understand the tax implications for them, specifically with imputed interest. According to IRS Publication 550, gift loans of $10,000 or less are exempt as long as the money isn't directly used to buy or carry income-producing assets. Does using a gift loan toward a business loan count as an “income producing asset”? The business loan will be partially used to purchase equipment, but the gift (family) loan will be used as capital for for the loan.