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Why converting verbal loan to written agreement prevents audits

Unexplained cash looks suspicious. Protect your company by converting verbal loan to written agreement so you have clear evidence for any financial check-up.

Imagine your business hits a rough patch. Your friend, bless their kind heart, offers you five thousand dollars to help out. You shake hands, thank them, and promise to pay them back “when things get better”. No papers, no lawyers, just trust. A few months later, your business picks up, …

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