" loans used for business purposes are tax deductible--however, only the interest can be written off." Some links to look at are: <a rel="nofollow" target="_blank" href="
http://smallbusiness.chron.com/deduct-money-loaned-start-business-15001.html">http://smallbusiness.c...>
<a rel="nofollow" target="_blank" href="
https://ttlc.intuit.com/questions/3539394-payments-on-a-business-loan-deductible">https://ttlc.intui...>
The IRS does not let individuals write off interest from personal credit cards or loans. ... They have deemed business interest to be a legitimate business expense, and that is tax deductible.
