Starting a Business - General Question

[Piku Nanda]

Hello All,

I am starting out a retail business with my life's savings (around 300k). Since this business does not have any property or equipment, I cannot get a business loan (and hence using my savings). I wish to show this initial investment as a LOAN to the business which I will get back over X years with X.X interest. I understand that if I do so then the interest income will be taxable BUT my principal will be returned to me without tax penalty.

My questions:

1) Is my above understanding correct?

2) Who/What will I need to pull the above off as I start my business (does a CPA help with this ? Business attorney ? Or Do I just have to do something at my end )

If anyone has any experience with this situation, please share your insights.

Thank you,

Piku