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Updated about 8 years ago,

User Stats

20
Posts
1
Votes
Hai Van Nguyen
  • Winnipeg, Manitoba
1
Votes |
20
Posts

Do I need to draft a loan agreement? What is Paid-in Capital?

Hai Van Nguyen
  • Winnipeg, Manitoba
Posted

Hi Friends,

I just set up a C Corp just for a dollar. Then I, myself, loan to my corporation some money (let say $A.00) so that the company can pay some operation expenses and can buy properties when the opportunities come.

Do I need to draft a loan agreement between myself and my corporation for the amount of money I loan to my corporation? 

Is the amount of $A.00 the Paid-in Capital in the annual report form filed to Secretary of State? If not, what is the "Paid-in Capital" in the annual report form?

Thank you for your help.

Hai Van Nguyen

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