Companies can make a loan to its directors without seeking approval from its shareholders as long as the value of the loan is below £10,000.
The Directors Loan Agreements Sub-folder contains secured and unsecured loan agreements which record the terms of a loan given to a director of a company or a person connected with a director. These Directors Loan Agreements should only be used where the aggregate value of the loan is below £10,000 so that shareholder approval is not required. The Directors Loan Agreements Sub-folder also includes a Shareholders' Ordinary Resolution approving a loan to a Director or acting as a Guarantor for a Director. This is to be used for transactions which require the approval of the members.
Each document in the Directors Loan Agreements Sub-folder is fully compliant with the Companies Act 2006.
Directors Loan Agreements are part of the Corporate folder. Access all Corporate documents for £35+VAT.