Private money lender and taxes

[Scott Parker]

Hello everyone. I am looking for advice on private money lending as I have never used this avenue and starting to look into how it works. My biggest question is won't I lose the tax benefits of deducting loan interest if I use a private money lender and exactly what does that look like from a business standpoint? I have an LLC so, for example, if I borrow $100,000 from a private money lender how does that look on the accounting side? Do I simply write a company check to that individual every month in his personal name and are there any tax advantages/ disadvantages to using private money? Thank you in advance for your help!